How do you feel about condos in the Philippines?

[Gandang Smile]

Hi All,

I have been keeping myself busy with a lot of work commitments and, cherry on top of the cake, taking care of this condo unit I bought here in Davao in 2015 and which has, finally (and not without major controversy!) being turned over.

I had some extra cash back in 2015, was about to move to Davao to open my (now defunct) business and it only looked right for me to buy a condo unit in what, at least at the time, looked like a great real estate project to invest on.

Six years on, after spending an inordinate amount of time (we're here since February!) and money, I still have very mixed feelings about whether living in a condo is a good idea, or one may perhaps get a far better life, not to mention value for money, by building a house on a lot purchased by the wife, or jointly.

How do you guys generally feel about the whole house & lot vs condo con(d)undrum?

Those, like @Tommy T., who are lucky enough to have a home built in the lush province...do you wish they had benefited from living in a condo, e.g. more central location, amenities, easy access to security and maintenance staff?

Those who do live in a condo, perhaps with a complete family...do you wish you could enjoy all the extra space, the freedom of building to your heart's content, the quiet coming from not living shoulder-to-shoulder with another 200 families? 

[baronapart]

In my limited experience the only peace and quiet I had in the Philippines was when we stayed in a high rise condo. Whenever we stayed in a house, either in the province or the city, the environment was always noisy. I am struggling with this decision when we move there. I know my wife would rather live in a house in the province but I like the pre-covid convenience of condo living. Particularly I like to swim and exercise and it is much more convenient in a condo environment.  Noise pollution is the biggest negative for me about living in the Philippines full time.

[Shady]

3 hours ago, Gandang Smile said:

 building a house on a lot purchased by the wife, or jointly.
 

As you know there's no "jointly", this is the only reason condos are so popular, because the one and only benefit over a house in a nice village (not province) they have is you can own it in your own name.

[Old55]

Owning a condo makes sense for those who do not live full time in Philippines. Condo cost seems excessive in many cases and as a long term investment they are a mixed bag.

Owning a house and lot in Providences would be nice but a Foreigner may not own property. Noise as others have called out can often be an issue with a house not so much with condos. 

Renting solves many issues but understandably many folks like the security or peace of mind owning their home. 

Edited May 16, 2021 by Old55

[Dave Hounddriver]

I have never been able to reconcile the extreme cost of a condo vs the moderate risk of a low profile, low cost, property purchase.

For example, it may be possible to buy 2 properties (one in wife's name and one in a girlfriends name LOL) for the price of one condo.

[Robi]

Just something about buying a condo in an earthquake zone makes my arse crave stove wood.

There are videos on YouTube. Search "Earthquake In Manila"

[Mike J]

You left out renting, either house or condo, as the third option.   I/we bought our house because I wanted to make sure the wife has a secure and paid for place to live when I die.  I know that when I pass the hands of family are going to be reaching out to the wife.  Having a house instead of all liquid assets may make a big difference in her future happiness and security.   Family pressures here in the Philippines can be huge when a member of the family has money and other have little or none.  Were I single I would have rented, that way you move when you find out the nice place turned out to be not nice at all.

[Explorer]

6 hours ago, Dave Hounddriver said:

I have never been able to reconcile the extreme cost of a condo vs the moderate risk of a low profile, low cost, property purchase.

For example, it may be possible to buy 2 properties (one in wife's name and one in a girlfriends name LOL) for the price of one condo.

In real estate it is always about location, location, location. Can you buy 2 houses in the same neighborhood of the condo for the price of one condo? I doubt it.

Where I lived in Cebu Business Park there are no houses for sale, if there were, you could probably buy 3 or 4 condos for the price of one house.

[Queenie O.]

Hi Gandang Smile,

I love Cebu City, and before the pandemic, enjoyed going to the city from the province two or three day trips a month.  I always enjoyed coming home to our province house at the end of the day though.  The house style itself, location, fresh air, garden and pets, province pace, are big draws for us. A glamorous condo in an area of Cebu City is something I would have liked, but my Filipino husband would not.

Of course it's all about tastes and location etc. too.  I think I'd worry at times too, about the overall upkeep of a condo building, and whether in the long term it's value would increase or at least stay the same over time.  

I guess it's just a matter of personal taste and budget, family/living situation etc. 

[RBM]

12 hours ago, Gandang Smile said:

Hi All,

I have been keeping myself busy with a lot of work commitments and, cherry on top of the cake, taking care of this condo unit I bought here in Davao in 2015 and which has, finally (and not without major controversy!) being turned over.

I had some extra cash back in 2015, was about to move to Davao to open my (now defunct) business and it only looked right for me to buy a condo unit in what, at least at the time, looked like a great real estate project to invest on.

Six years on, after spending an inordinate amount of time (we're here since February!) and money, I still have very mixed feelings about whether living in a condo is a good idea, or one may perhaps get a far better life, not to mention value for money, by building a house on a lot purchased by the wife, or jointly.

How do you guys generally feel about the whole house & lot vs condo con(d)undrum?

Those, like @Tommy T., who are lucky enough to have a home built in the lush province...do you wish they had benefited from living in a condo, e.g. more central location, amenities, easy access to security and maintenance staff?

Those who do live in a condo, perhaps with a complete family...do you wish you could enjoy all the extra space, the freedom of building to your heart's content, the quiet coming from not living shoulder-to-shoulder with another 200 families? 

Nice subject Gandang Smile, guess I can express a view given that I built and lived in a new house and now in a condo unit.

Its without doubt nice feeling to enjoy the ownership of a house and lot. How ever.....the work never stops, always something to repair or maintain, never ending. Its unlike the West where one builds....buys new and has next to no issues. We tried our best not to skimp, used better materials and supposedly the correct guys.....Still the issues kept popping up. Was always a hassle to find labour to help with the grounds, lawns and so on. As one ages, it becomes more and more of a burden.

Fast forward, the last 2 years have been very happy over all with living in a shoe box.  Going from a large house with lovely gardens to the shoe box was not the drama I expected at all. My time now is my own, swimming, tennis, hiking what ever, can do at any time. No lining up to pay bills, all done through the office. So many pluses. OK we do have a lovely little terrace (now turning into a hydroponic garden) with lovely trees to look at, super quiet  and great location. 

The one issue I would point out, if one was unfortunate enough to have noisy neighbours  this would be a large  problem, especially if involving young kids. We do not have (at the moment) this problem, if so it would change my whole perspective.