wayneseymour Posted August 15, 2012 Posted August 15, 2012 Just throwing this one out there ...is it truly possible to buy a home( even if its tiny) for about 15,000USD? I know I'm reaching here but who knows. stranger things have been possible Link to comment Share on other sites More sharing options...
Forum Support scott h Posted August 15, 2012 Forum Support Posted August 15, 2012 Wayne buddy,,your gonna have to narrow it down a bit. Where???? prices for most anything vary as to the location in the PI 1 Link to comment Share on other sites More sharing options...
i am bob Posted August 15, 2012 Posted August 15, 2012 I was just fooling around one day (I think it was in January) and thought I would see how cheap I could find a house for sale on the island of Cebu. I don't remember what site I used (maybe Sulit?) or where they were located but I actually found a couple listed for under p400,000... Yup! Under US$10k! Of course no pictures were supplied and nothing was said about the condition of those houses but they were for sale! :attention: 1 Link to comment Share on other sites More sharing options...
earthdome Posted August 15, 2012 Posted August 15, 2012 One thing to remember is that you can not own property (land/house) in the Philippines on a tourist visa. The ownership of property (land/house) by foreigners is very restricted. I don't know all the particulars of what you can own with which visa. I am sure others can chime in on all the restrictions and work arounds. 2 Link to comment Share on other sites More sharing options...
Geoff Thomas Posted August 15, 2012 Posted August 15, 2012 With regards to land ownership I have a little information here http://cebupropertyrentals.com/?page_id=14 1 Link to comment Share on other sites More sharing options...
TheMason Posted August 16, 2012 Posted August 16, 2012 My wife and I were looking at row homes in Carmona, an hour or so south of Manila, that were selling for about 990k php (at the time about $20k.) This was about 2-3 years ago. They were 2 story homes with total floor space just under 50 sqm. They were in a new subdivision and unfinished. My in-laws just bought an older rowhome in the Antipolo area of Manila for 750k php. I think if you're willing to go with small, used, basic housing, I think you could easily find something for $15k. Of course, as others have said, foreigners can't buy land. There are some 'work arounds' that people will tell you about, but they usually involve putting the land in someone else's name and hoping the don't screw you. Not a bright move IMO. You're better off renting unless you already have a long-term spouse you trust and put the property in her name. 2 Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted August 16, 2012 Forum Support Posted August 16, 2012 Just throwing this one out there ...is it truly possible to buy a home( even if its tiny) for about 15,000USD? I know I'm reaching here but who knows. stranger things have been possible Yes, a very simple home could be built for 600K Peso. Land is expensive. I don't know the prices of land anymore guess you could 50 year lease a small lot out in the Providences for not too much money? A Foreigner may lease land and build a house or own a condo under certain circumstances. You can not buy real estate although there are some schemes people will try to sell you. Renting is the way to go IMO. 2 Link to comment Share on other sites More sharing options...
i am bob Posted August 16, 2012 Posted August 16, 2012 A friend of a relative just did this... He saw a house for sale in the province that he really liked. He approached a lawyer who first arranged a long term lease of the land (paid up) with first option to re-lease the land or have it purchased for a set price (P100) over the cost of the lease. This is so that, if he gets married, the title for the land can be switched to his future wife's name should he so desire. Once that was fully completed and he had taken possession of the land, he then finalized a purchase of the house minus the cost of the leased land. All in all, he's got about 8 acres of land with a nice little house in the country... He gets up in the morning and has coffee on the deck (it's almost at the top of a good size hill) and watches out over the ocean that's not that far away - all for under $18,000 Canadian. Oh it so feels like Calgon time... :attention: 1 Link to comment Share on other sites More sharing options...
luke Posted August 16, 2012 Posted August 16, 2012 A friend of a relative just did this... He saw a house for sale in the province that he really liked. He approached a lawyer who first arranged a long term lease of the land (paid up) with first option to re-lease the land or have it purchased for a set price (P100) over the cost of the lease. This is so that, if he gets married, the title for the land can be switched to his future wife's name should he so desire. Once that was fully completed and he had taken possession of the land, he then finalized a purchase of the house minus the cost of the leased land. All in all, he's got about 8 acres of land with a nice little house in the country... He gets up in the morning and has coffee on the deck (it's almost at the top of a good size hill) and watches out over the ocean that's not that far away - all for under $18,000 Canadian. Oh it so feels like Calgon time... :attention: Who is the owner of the land at this moment? Link to comment Share on other sites More sharing options...
wayneseymour Posted August 16, 2012 Author Posted August 16, 2012 Wayne buddy,,your gonna have to narrow it down a bit. Where???? prices for most anything vary as to the location in the PI sorry about that your right ..looking at Cebu but not necessarily in the city but in the provinces which seems nice say for example Davao or there about 1 Link to comment Share on other sites More sharing options...
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