Buying A Condo In Manila - Advice Needed

[Jack Peterson]

You never know what happens in your life, but even if I hope for the best and plan for the worst the situation doesn't change much.

 

 Just one Question from me please, Most of us know your story and so it does make a slight Difference in answers but Are you Intending to Marry your Lady now? as this could make a Big Difference to any Outcome if you do get Married.

 

Jack :tiphat:

[afathertobe]

 

You never know what happens in your life, but even if I hope for the best and plan for the worst the situation doesn't change much.

 

 Just one Question from me please, Most of us know your story and so it does make a slight Difference in answers but Are you Intending to Marry your Lady now? as this could make a Big Difference to any Outcome if you do get Married.

 

Jack :tiphat:

 

 

Hi Jack, good question and yes that would change a lot. But no, we are not a couple and I do not intend to marry her. If and when she gets a new partner the situation and the current arrangement would obviously change. But again, it's against her own best interest to pull off anything with me, and it's in my own best interest to keep a good relationship. We have a son together that I have to take care off long-term so it probably makes sense to have a place to stay in for the next few years that is paid off. 

[Jack Peterson]

 

 

You never know what happens in your life, but even if I hope for the best and plan for the worst the situation doesn't change much.

 

 Just one Question from me please, Most of us know your story and so it does make a slight Difference in answers but Are you Intending to Marry your Lady now? as this could make a Big Difference to any Outcome if you do get Married.

 

Jack :tiphat:

 

 

Hi Jack, good question and yes that would change a lot. But no, we are not a couple and I do not intend to marry her. If and when she gets a new partner the situation and the current arrangement would obviously change. But again, it's against her own best interest to pull off anything with me, and it's in my own best interest to keep a good relationship. We have a son together that I have to take care off long-term so it probably makes sense to have a place to stay in for the next few years that is paid off. 

 

So it still may change a thing or two married or not Your Son will still be Hereditary heir under Philippine Law.

So not a Question but a thought,You need to make sure that should she get a new Partner she can't use your sons rights against you.

Not the Sort of thing anyone wants to think about but this Dependency Rule gives me a headache.

AH OK! yes one little Question, Does your Son beare  your name and have a PI passport?

 

No wish to be over inquisitive but there are legalities that you do need to get to grips with. A National Child will be well protected and usually at our (The Foreigners) Expense. 

 

Jack :unsure:

[afathertobe]

Hi Jack, I will update my old thread at some point, but think this thread should really be more about the (technical) issues of buying a condo in the Philippines, regardless of my personal situation. 

[Jack Peterson]

Hi Jack, I will update my old thread at some point, but think this thread should really be more about the (technical) issues of buying a condo in the Philippines, regardless of my personal situation. 

Yes I hear what you say. but the Fact you have an Inheriting Heir is going to be maybe a technical issue at some point believe me!

[Kiwi-Alan]

That is the point I was trying to make earlier.  The mother of your child can, and will shaft you given half the chance. The Phills is littered with stories of men being shafted, yes sometimes they do leave the door open for it to happen. But the law is not with the long nose when the sh&t hits the fan.

[Kiwi-Alan]

So back to my first post on this issue.  Keep renting for her and child.

[bootleultras]

As promised building insurance in my place is quarterly at around 900 pesos, real property tax on the whole building is also quarterly at around 4500..... That's all paid for to the condo owners. The city hall property tax is 13000 for the whole year

Thank god I leave the Mrs to pay all that as it confuses the hell out of me! [emoji12]

Sent from my iPhone using Tapatalk

[Peter G]

Hi afathertobe -

 

Did you buy ?

 

I am also in similar minds - I am working and to be based here long term (I hope !) - and instead of renting am very close to buying a Condo outright (paying in full over a couple of months).

 

Currently seeking to touch base with an expat who has recently bought.

 

Cheers 

[afathertobe]

Hi Peter, no I haven't bought (yet). The more I research the condo market in Manila the less in a hurry I am. Lots of people over at Skyscrapercity and other property related forums think there's currently an oversupply in the studio, 1br market in those prime locations, so prices aren't going to appreciate much anymore or might even go down this year. 

 

So might as well wait a bit until the economic situation in East and South East Asia deteriorates a little bit and buy a unit I really like above the range I could currently afford. Unlike you I don't have an immediate need for it, but even then I'd probably rent for a year or two until I really understand what I need and then buy. Every tower in Makati and BGC have plenty of apartments for rent, I'd stay in a similar unit I am looking to buy for 6 months or so and then dedice if I'm still interested in buying.   

 

Chances are I won't buy this year at least. 

Edited January 28, 2016 by afathertobe