Rent Or Buy In The Philippines

[stevewool]

Which is best for you and why,

Yes you can move anywhere you want to if you are renting but its never yours, ok its not yours either its the wives bla bla bla,

Anyway back to the thread,

Buying no more rent to pay and yes it may go up in price  too,

I have seen this place where i think i would like to live for ever the price is good , but i am here in England so all i see is pictures of the place,

Never ever seeing what could be around the corning , or even what sort of neighbors are next door i know its a no no from the start,

So knowing what many of you know already what would you do rent or buy,

[Tukaram (Tim)]

Although we did just build a house this year - I prefer to rent.  We built because it will be cheaper... eventually... after we save on not paying rent for 3 years.

 

I prefer renting because if the neighborhood goes to crap I have more freedom to move.  This house is cheap enough I would not really care about walking away from it later.  So far it is not too loud, and we built it pretty solid to block as much noise as we could. I can retire in 3 more years and would be interested in moving somewhere with better beaches and build or rent something bigger. The jungle is nice here, but our beaches are not up to par.  Or staying here - and just island hop more?   :tiphat:

[Dave Hounddriver]

Property, women, cars, etc.  Rent for a short time.  Buy for the long term.

[bows00]

I have seen this place where i think i would like to live for ever the price is good , but i am here in England so all i see is pictures of the place, Never ever seeing what could be around the corning , or even what sort of neighbors are next door i know its a no no from the start

 

_{I want to emphasize this point.  I would NEVER, EVER buy a place sight un seen.  In addition to knowing your neighbors, there so many other factors to consider before you purchase - how does the sun set relative to your open windows? water pressure? plumbing? electrical outlets? foundation? etc, etc,}

 

_{And the one rule of real estate is that you make your money in the BUY, so take your time, and don't fall in love with any property until your ready to move in...}

[chris49]

Build modestly on family owned land. As Tim and I have done.

 

Don't "buy" land unseen. Fake titles are rampant here/ Or you might get a good title with a previous unknown or unseen Bill of Sale.

 

I was looking at Apartelle accom earlier this week. 800 pesos/day, just one room of course. Or 1000 with a kitchenette, Air con, cable TV, hot water....a nice option for the short to medium term..

[jpbago]

   Renting gives you the option of moving. I hear this quite often:

 

According to the residents, the developers failed to complete Puerto Real de Iloilo’s amenities and features 15 years after its inception, while facilities present are “in a sad state of neglect and disrepair.

 

http://panaynewsphilippines.com/2016/02/06/disgruntled-homeowners-rap-la-paz-subdivision-developers/

[robert k]

   Renting gives you the option of moving. I hear this quite often:

 

According to the residents, the developers failed to complete Puerto Real de Iloilo’s amenities and features 15 years after its inception, while facilities present are “in a sad state of neglect and disrepair.

 

http://panaynewsphilippines.com/2016/02/06/disgruntled-homeowners-rap-la-paz-subdivision-developer

 

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Response by Robert k, I don't know how it got in the quote bubble :1 (103):

 

 

 

Frequently, once someone gets the money there, they will not expend any money or effort to finish the job. It would cut into profits. I don't know how things are done there but there needs to be a fairly large escrow (33%-40%) of the money that will be paid to the developer that he will NOT receive until he has completed his obligations so at least the home owners can go to court and reclaim some of the money necessary to hire someone to complete the job. I'd much rather rent as buying seems the path to insecurity rather than security. :tiphat:

[Old55]

There are few rules in Philippines the ability to just walk away is priceless. 

[Mike J]

Most expats that have been here for some time will advise that you rent for at least two years.  If you decide you like the country and like the area you are living, then you are more likely to make a good buying decision with regards to location and price.  

[mogo51]

 

   Renting gives you the option of moving. I hear this quite often:

 

According to the residents, the developers failed to complete Puerto Real de Iloilo’s amenities and features 15 years after its inception, while facilities present are “in a sad state of neglect and disrepair.

 

http://panaynewsphilippines.com/2016/02/06/disgruntled-homeowners-rap-la-paz-subdivision-developer

 

....................................................................................................................................................................................................................................................

.....................................................................................................................................................................................................................................................

 

Response by Robert k, I don't know how it got in the quote bubble :1 (103):

 

 

 

Frequently, once someone gets the money there, they will not expend any money or effort to finish the job. It would cut into profits. I don't know how things are done there but there needs to be a fairly large escrow (33%-40%) of the money that will be paid to the developer that he will NOT receive until he has completed his obligations so at least the home owners can go to court and reclaim some of the money necessary to hire someone to complete the job. I'd much rather rent as buying seems the path to insecurity rather than security. :tiphat:

 

Rea the article, 'the developers are in discussion with the owners'  must be bloody long discussions, been 15 years and they have not lived up to their requirements.  If I were the owners, I would be going hard at them, bu tthen again, if Philippine legal system is as bad as Thai, forget it!

 

Build modestly on family owned land. As Tim and I have done.

 

Don't "buy" land unseen. Fake titles are rampant here/ Or you might get a good title with a previous unknown or unseen Bill of Sale.

 

I was looking at Apartelle accom earlier this week. 800 pesos/day, just one room of course. Or 1000 with a kitchenette, Air con, cable TV, hot water....a nice option for the short to medium term..