Is It Worth Building A House Compared To Buying One?

[joeatmanila]

Tim!!!!

You are a lamb ready for slaughter here!!!!

250kpounds more or less 450.000$....and you say it????? Do not let anyone know how much money you have to invest, If you have 250, say you have 50....

Literally with that amount you get a 200-300m2 house on 300-400m2 lot with pool in an upscaled area of metro manila. If you look these houses on sulit and ayosdito and other sites, they cost 2-3 times more than their real value.

In 3 weeks that you come here, buy noting, just see and listen and do that for the next 3-4-5 years, then you can find and pay a Filipino price for a house!!!!

The price per m2 is way much cheaper in the final amount expensive houses than the small ones and way much lesser than the condo jails.

I can give you my house, 2.5 floors, 300m2 inside spaces, 5 bedrooms, 5 bathrooms, all granite tiles and some granite walls, zen type design on a 360m2 lot in a secured middle income subdivision, garden ready to become pool for just 300.000$ (which is what it cost me to make it) and then I can move to another area on a SMALLER house, yes I regretted having a big house, the one and only reason I can sell it if someone pays me the actual price :)

[billygoat993]

I agree that its not safe to divulge things with regards to money esp here in PI. but i wondering where or what upscale villages in Manila we can invest with 18m with that size of house and lot? Prices of lot in upscale villages in Makati ranges 50k above i am referring to Dasmarinas Village, forbes park. Here in laguna price of lot range from 20,000 above in mid to high end developed by Britanny and Ayala land. It would be nice to invest that amount in metro with pool and that big of a lot and have it rented.

[MacBubba]

Let me see...we bought a house, but before we move in under 5 years, we will likely build one.  We were really happy with the location, so we bought the house a little too early.  Three visits later, we find that we are still VERY PLEASED with the location, but not so much the house.

 

Do I think we made a mistake?  Probably not.  The lot might not be available when we're ready to move.  And, we did look into Batangas, Mindoro, Palawan, Bohol and Cebu beforehand.

[Jack Peterson]

we find that we are still VERY PLEASED with the location, but not so much the house.

 

 

 

:unsure: Reconstruct, seems to be in order here :rolleyes:

 

:tiphat:

[billygoat993]

Yeah its advisable to buy lot and just build, you can choose the materials and deaign and it ends up cheaper. Provided your Architect wont ran like what mine did lol. I have learned how to build here the tough way.

[billygoat993]

I just finished building this house and experienced in building it was good except for the Architect. We sourced everything and had brought in fixtures from Canada, italy and US

[Thomas]

I just finished building this house and experienced in building it was good except for the Architect. We sourced everything and had brought in fixtures from Canada, italy and US

That's nice size and look.

May I ask how much it cost to build? (prefering NOT counting land and permits).

 

(I want a similar size and shape, but uggly looking instead to reduce jelousy  :)

[billygoat993]

Excluding land is 20m, the finish inside is top of the line. Some faucets range from 72k above (carlo Fratinni with Swarovski, Gessi) all narra wood planks, natiral stone cladded tower, balcony and courtyard, a lot of upgrades plus we use I beam merhod and jackbuilt chb, roof is with long span gi roof on top is cpac monier. If its just structural its around 7-8.5m .

[billygoat993]

Our upgrades... I do not recommend solid wood floors because of the humidity here.

[cebu rocks]

Do Not Buy

 

Rent your house out for now take that money and use it for rent you a great place and when you get sick of the guy next door move to another location

 

Live at least 2 years in the Phils before thinking about buying a home 

 

A way better life moving once a year to another island and exploring untill you find your dream location

 

Once you find where you want to live start asking around for land or houses . You will have people beating your door down with offers 

 

Then its the waiting game most will ask way way to much to start but if they know you can buy it the price will drop as soon as theres a emergency

Papas sick or someones going over seas to work or they wwant to have a big fiesta party .

 

I put out feelers for land and had people coming everyday to try to sell me land at a inflated price of course but the prices have halved in one year 

and continue to drop as I keep saying to much maybe later 

 

First thing you need to do is find out if you can handle living in the Phils ? Its a lot different living Vs holidaying you need a couple years for the rose colored glasses to fade and they do you need to be able to leave without getting stuck with a house worth more than you can sell it for fast.

 

On average it takes 2 years to sell a house here  unless you fire sale it 

 

Most guys never see the price it costs to build back at sale time unless you hold it for a long long time remember no bank loans here and not many people can afford 5+ million pisos cash