kazualteaze69 Posted January 27, 2015 Posted January 27, 2015 if you own a home in phils what are taxes and/or other cost? I do realize it will vary on area and what not but was curious if anyone could through out examples rates or cost.also how does renting work as for being a foreiner credit checks references needed? Or as long as you have cash your good to go? Anyone know a decent realtor i could use in future feel free to pm me.im sure i can find on my own but be better to have a referal.thanks guys Link to comment Share on other sites More sharing options...
Popular Post Dave Hounddriver Posted January 27, 2015 Popular Post Posted January 27, 2015 Every filipino seems to be a realtor or property rental agent. Seems like everyone you meet will try to sell you or rent you something and it is always the high (over) priced stuff and they will always be looking for big commissions. There is NO ONE selling or renting the cheap stuff as an agent. That kind of thing you need to find on your own. Now that I have said that, there are a few who claim to be the agents for cheap stuff on occasion but those have not paid to advertise here and honestly, their stuff ain't so cheap. Such is my opinion and I have found every house I bought or rented on my own and was much happier with the deals I found on my own than with any of the offerings of the touts. 6 Link to comment Share on other sites More sharing options...
Methersgate Posted January 27, 2015 Posted January 27, 2015 There is an annual property tax - not a huge amount of money. 10K pesos comes to mind. 1 Link to comment Share on other sites More sharing options...
Forum Support scott h Posted January 27, 2015 Forum Support Posted January 27, 2015 if you own a home in phils what are taxes and/or other cost? The property tax on our new home is approx. $250 USD in a suburb in Manila. Just like in the states it is based on the appraised value, and just like in the states the trick is not to get it appraised to high. Unlike in the states, If you pay your tax early you get a discount (they call it amnesty) 2 months early 20% off, 1 month 10%. One option you might have is when you decide on where you want to live, drive around the sub division and look for "for sale" or "for rent" signs. From my observation there are always some available in each sub division 2 Link to comment Share on other sites More sharing options...
chrisandging Posted January 27, 2015 Posted January 27, 2015 If you're on a subdivision you will probably have to pay a fee to your homeowners association. For me it is P2 per m2 of lot area per month. This pays towards security and upkeep of the subdivision. It is something to check before you commit to renting or buying. You may also find that water if supplied by the subdivision may be more expensive. I pay P440 for the first 10 M3 then P880 for each M3 after that. Link to comment Share on other sites More sharing options...
kazualteaze69 Posted January 27, 2015 Author Posted January 27, 2015 Cool.thanks for input guys. Link to comment Share on other sites More sharing options...
Thomas Posted January 28, 2015 Posted January 28, 2015 if you own a home in phils what are taxes and/or other cost? I do realize it will vary on area The Real estate tax isMetro Manila 2 % The rest 1 % of the "Assesssed Value" which is the estimated value reduced by mulriplicate it with a percentage value, which is different for different value levels and different types of land and real estate. Example: Land can't you own anyway :) but if you lease it, the owner need to count tax at 20 % of the value in most residencal cases. = 2 or 1 % of 20 % So 0.2 % if it's outside Metro Manila. House: How big part of the value is counted, depend MUCH of the value if the house. From 0 % (up to 175 000p) to 60 % (over 10 mill). 2 - 5 mill then it's 40 %. So example 3 mill x 0,40 x 0,01 = 12 000 p per year outside Metro Manila. But much depending of what the HANDLER VALUE it too, which can be MUCH different ... :) 1 Link to comment Share on other sites More sharing options...
robert k Posted January 28, 2015 Posted January 28, 2015 Thomas brought up the 800 pound gorilla in the room, you can't own land. You can own the structure on the land but not the land. Ever see a house moved? It can be done but usually isn't for practical reasons. Home owner associations... I have heard of a few foreigners who have fallen afoul of their HOA, most reported paying for absolutely nothing, while others report paying for a system inimical to them, for instance when the foreigner complained of a overloud party against HOA rules and he experienced a mob. Sorry, I can find enemies without having to pay for them. Link to comment Share on other sites More sharing options...
Methersgate Posted January 28, 2015 Posted January 28, 2015 Thomas brought up the 800 pound gorilla in the room, you can't own land. You can own the structure on the land but not the land. Ever see a house moved? It can be done but usually isn't for practical reasons. Home owner associations... I have heard of a few foreigners who have fallen afoul of their HOA, most reported paying for absolutely nothing, while others report paying for a system inimical to them, for instance when the foreigner complained of a overloud party against HOA rules and he experienced a mob. Sorry, I can find enemies without having to pay for them. Thomas brought up the 800 pound gorilla in the room, you can't own land. You can own the structure on the land but not the land. Ever see a house moved? It can be done but usually isn't for practical reasons. Home owner associations... I have heard of a few foreigners who have fallen afoul of their HOA, most reported paying for absolutely nothing, while others report paying for a system inimical to them, for instance when the foreigner complained of a overloud party against HOA rules and he experienced a mob. Sorry, I can find enemies without having to pay for them. Very well said. When K was renting a house in a nice enough Cammella Homes development in Bulacan she was suddenly faced by a demand from the owners association that she should "register" me because I was a foreigner - 1,000 pesos for nothing. Link to comment Share on other sites More sharing options...
Thomas Posted January 28, 2015 Posted January 28, 2015 Thomas brought up the 800 pound gorilla in the room, you can't own land. You can own the structure on the land but not the land. Ever see a house moved? It can be done but usually isn't for practical reasons. Home owner associations... I have heard of a few foreigners who have fallen afoul of their HOA, most reported paying for absolutely nothing, while others report paying for a system inimical to them, for instance when the foreigner complained of a overloud party against HOA rules and he experienced a mob. Sorry, I can find enemies without having to pay for them. Well. (Besides condo assosiations and such.) /in LAW point of view that's NO problem. It can be solved by land and house is separated, if there were not allready, and then the foreigner own the HOUSE, and get a long term LEASE the land 25 + 25 years (to start with). /But some with CORECT documents - both foreigners and Filipinos - have been SCARED away from their houses by threats. Link to comment Share on other sites More sharing options...
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