Buy or Rent

[Kingpin]

3 hours ago, Mike J said:

Hmmm 

The first one was sold years ago, the second ad is also years old and is not Maria Luisa, it's Maria Luisa North which is all the way in Consolacion.

More up to date: https://homes.trovit.ph/index.php/cod.search_homes/type.1/what_d.maria luisa cebu city house/sug.0/isUserSearch.1/order_by.source_date/

3 hours ago, JJReyes said:

As a former Filipino, I am permitted to purchase urban or agricultural land with limitation as to size.  

And if you require renovations the only option is ownership, the question is where. The pricey Maria Luisa can be a 5 or even 15 minute drive just to reach the front gate. Everything in Cebu City is pricey though, for a small house I'd check out Talisay, many subdivision there.

 

 

[JJReyes]

9 hours ago, Kingpin said:

And if you require renovations the only option is ownership, the question is where. The pricey Maria Luisa can be a 5 or even 15 minute drive just to reach the front gate. Everything in Cebu City is pricey though, for a small house I'd check out Talisay, many subdivision there.

During our next visit to the Philippines, we plan to hire a car and driver in Cebu to visit different areas.  

[JJReyes]

11 hours ago, Sea Turtle said:

having no knowledge of your resources.   buying/owning is financially safer as the property tax year to year is not so much.  while at the same time if the values increase the rent can increase.  assuming you likely know all the financial stuff, owning can be safer.   

thinking about who you plan to leave your wealth to and how to do that efficiently.  inheritance tax or capital gains tax is heavy.  if you have Filipino relatives your property may not go to who you want it to unless you plan ahead of time.

If you have enough money, rent or own will get you almost anything you want.

Thanks.  My sister informed me that taxes on inherited property have been lowered.  Purpose is to increase tax collection.  The reason is wealthy families deliberately delay settlement, thus depriving the government of revenue.  File a lawsuit over ownership of an ancestral home in the provinces and the case could be stuck for 40 years.

[Kingpin]

6 hours ago, JJReyes said:

During our next visit to the Philippines, we plan to hire a car and driver in Cebu to visit different areas.  

Cool. But the areas you need to see are within the subdivisions, which means you'll need appointments to see houses for sale.