Purchasing a Condo ... Pros and Cons

[Ice Patrol]

I will be visiting the Philippines during August and plan to relocate there in 2020.I also plan to apply for the ssrv citizenship and I should easily qualify for it.Upon moving I will rent for a time until I determine the best location to live.I am thinking that a Condo will suit me the best and am interested in the pros and cons of owning a condo there.The location will make a difference in the price and availability.But I am interested in your experience buying a condo in the Philippines and / or any advice you might want to convey.... Thanks in advance! / Icepatrol 

[Tommy T.]

8 minutes ago, Ice Patrol said:

I will be visiting the Philippines during August and plan to relocate there in 2020.I also plan to apply for the ssrv citizenship and I should easily qualify for it.Upon moving I will rent for a time until I determine the best location to live.I am thinking that a Condo will suit me the best and am interested in the pros and cons of owning a condo there.The location will make a difference in the price and availability.But I am interested in your experience buying a condo in the Philippines and / or any advice you might want to convey.... Thanks in advance! / Icepatrol 

Hi Ice. I think it will depend a lot on where, exactly you want to settle. Prices, quality and convenience vary with location. I am in Davao. Others are spread out all over. Renting is a great idea so you can get the feel of the place - I highly recommend that. However, I looked for a condo here and most of them were really tiny - 40-70 sq. meters. Filipinos are small people - generally - so maybe that's why? I also found the ex-pats are the ones who seem to live in them here while Filipinos buy them then rent them out for tourists and business visitors or use them occasionally for their own use sometimes because they live out of town. Prices vary, but $60,000- $80,000 seems to be a rough average for what I just described.

I recently got the ssrv - it is NOT ciizenship - only a "permanent" visa. There is a huge difference. It was not difficult, but lots of little steps to take to get there.

[Jollygoodfellow]

5 hours ago, Tommy T. said:

However, I looked for a condo here and most of them were really tiny - 40-70 sq. meters

That is big. My studio is 22 sqm. You get used to it and depends on your needs.

[bamfurlong]

another point is why are condos so expensive and yet so small.

we are buying a detached two floors, 3 bedroom, 2 cr, car port, 110 sqmt lot in san jose del monte near to the final station for the MRT7.

it is on a subdivision with the normal amenities, pool. club house. basket ball and security 3.2 million peso

when i stayed in a condo near fairview which is not far from the house i was amazed at the prices.

obviously my wife is philippina and thats why we can buy house , but that doesnt explain why the condos are expensive.

or maybe it does explain it because they know that foriengners can only buy the condo 

 

[Jack Peterson]

3 minutes ago, Jollygoodfellow said:

That is big. My studio is 22 sqm. You get used to it and depends on your needs.

 I don't know how you do it,( Live that small) My daughters Bedroom is 16 sq mtr + her CR so about 19 in Total and she complains ( as they Do)

[Tommy T.]

11 minutes ago, Jollygoodfellow said:

That is big. My studio is 22 sqm. You get used to it and depends on your needs.

Amazing! That seems so tiny. I lived aboard a yacht for many years that was smaller than that inside. And you're right, I was used to it. I guess I am overreacting to tiny quarters? So I am building a home because I could not find, what I thought was a reasonably priced condo, for the sizes I saw. According to two realtors I engaged, that 40-60 was about the biggest commonly available.

[Tommy T.]

16 minutes ago, bamfurlong said:

because they know that foriengners can only buy the condo 

From talking to my current Filipino landlord and the realtors, it is actually Filipinos who are buying a lot or even most of the condos. Some locals for investment to rent out, but also out-of-towners who are well-to-do and either go there for holiday or stay there when they return from USA or other countries where they have already emigrated.

[jimeve]

58 minutes ago, Jack Peterson said:

 I don't know how you do it,( Live that small) My daughters Bedroom is 16 sq mtr + her CR so about 19 in Total and she complains ( as they Do)

My walk in wardrobes bigger than that 

[Jack Peterson]

2 hours ago, Jack Peterson said:

Not sure if I have a Photo of her room I will have a Look

 Yep Found them:

    

 

[Ice Patrol]

9 hours ago, bamfurlong said:

another point is why are condos so expensive and yet so small.

we are buying a detached two floors, 3 bedroom, 2 cr, car port, 110 sqmt lot in san jose del monte near to the final station for the MRT7.

it is on a subdivision with the normal amenities, pool. club house. basket ball and security 3.2 million peso

when i stayed in a condo near fairview which is not far from the house i was amazed at the prices.

obviously my wife is philippina and thats why we can buy house , but that doesnt explain why the condos are expensive.

or maybe it does explain it because they know that foriengners can only buy the condo 

 

Congrats on your purchase.IT sounds awesome for sure.But for me a condo seems like the best way to go.I am retired now and not married so a nice condo would seen to be adequate.And yes...this might be my only option for owning my housing anyway.Its a matter of finding a decent quality unit in the right location for a bargain