Jump to content

Comfy Theme© by Fisana
 


Photo
- - - - -

[Split Topic] Buying a Condo


  • You cannot start a new topic
  • Please log in to reply
67 replies to this topic

#41 tommax

tommax
  • Sponsor
  • 203 posts
  • 30 thanks
  • 57 topics
  • Local time: 09:56 AM
  • Gender:Male
  • My Blood Type:No option.
  • Philippines:Visited 9 times +

Posted 11 January 2017 - 7:22 PM

why is ramos that cheap?

price in the north is P100K per sqm on average, exclusive of the VAT. a 83sqm would be high end given the size so 10 millions should be the minimum.

rent would be double of that.

 

That is Fuente Tower 3 loft type condo. Rent is very reasonable because I'm just looking for to get some money by leasing for upkeeping, taxes and monthly dues. If want ROI should ask much higher rent but it was purchased as a holiday home not investment. Our original plan was to spend much more time in the Philippines than is now possible so have considered selling also but maybe just lease to cover expenses of owning.  It's still for rent so if someone interested just send me pm. Can lease now until June 2017 or later for minimum 6 months.  





Thanked by 1 Member:
aqd

#42 tommax

tommax
  • Sponsor
  • 203 posts
  • 30 thanks
  • 57 topics
  • Local time: 09:56 AM
  • Gender:Male
  • My Blood Type:No option.
  • Philippines:Visited 9 times +

Posted 11 January 2017 - 8:03 PM

nothing wrong with the unit i think its a renters market 

location is crown regency near fuente circle

 

It's good and central location in uptown Cebu City. It's a nice loft type unit with a great view to the sea and mountains. Sure it's somehow renters market in Cebu especially when you rent out remotely. Anyhow if want ROI should ask much higher rent but it was purchased as a holiday home not investment. I'm happy to earn some money for owning expenses and find tenant who treat the apartment with respect and don't trash it and pays monthly dues and utilities on time. Can pay higher rent if feels that what is asked is too low :wave: .



#43 Mikal

Mikal
  • Elite
  • 269 posts
  • 38 thanks
  • 13 topics
  • Local time: 03:56 PM
  • Gender:Male
  • My Blood Type:Don't know
  • Philippines:No Answer

Posted 11 January 2017 - 8:11 PM

comparing condo here to usa is not really comparing.... apples to apples ...

 

Agreed.  There are some very obvious differences, but also many more subtle ones that I'm not even familiar with yet.  They are different markets, but until I've been here a lot longer, and out of CA a lot longer, compare I shall. ;-)



#44 Contango

Contango

    The Contrarian

  • Elite
  • 890 posts
  • 116 thanks
  • 12 topics
  • Local time: 06:56 PM
  • Gender:Male
  • Location:Sydney - Muntinlupa
  • My Blood Type:I cannot donate
  • Philippines:Visited 9 times +

Posted 11 January 2017 - 9:00 PM

my main consideration is that I need a serenity zone to escape to.  I need a place that has my stuff, the way I want it; a place people can’t just stop in whenever
they want; a place where I don’t feel like I am camping at a music festival 24/7.  You know, where I can get cleaned up, drink a beer in the air conditioning, cook up
a pot of chili in a clean kitchen and feel like a normal person once in a while.


The serenity zone phenomenon, its wonderful to jump out of the Jeep walk thru the gate and wave to the guard and your inside, the noise and craziness is outside, everything
is clean, peaceful and reasonably quiet...love it.
  • newtocebu and tommax like this

#45 Skywalker

Skywalker

    Living in Cebu for 5 years. That's a lot of Cheval Rouge.

  • Elite
  • 10,659 posts
  • 2803 thanks
  • 257 topics
  • Local time: 03:56 PM
  • Gender:Male
  • Location:Cebu
  • My Blood Type:I cannot donate
  • Philippines:Current resident

Posted 12 January 2017 - 12:23 PM

They are different markets, but until I've been here a lot longer, and out of CA a lot longer, compare I shall. ;-)

 

And it will remain a difficult comparison.  Spending time here (in the Philippines) is really the only way to learn how things (don't) work here.  :unknw:

 

I've just been to Ayala Land to settle a tax question raised by a member here.  He was told one thing by one department, and it wasn't correct information, so by going to the horses mouth, as it were, we got the correct answer.


  • Lee and Mikal like this

Thanked by 1 Member:
Mikal

#46 Lee

Lee

    Happily married since 94 & live part of each yr in Cebu

  • Diamond Sponsor
  • 11,886 posts
  • 3322 thanks
  • 2,496 topics
  • Local time: 02:56 AM
  • Gender:Male
  • Location:Florida, US & Cebu
  • My Blood Type:I cannot donate
  • Philippines:No Answer

Posted 12 January 2017 - 8:23 PM

so by going to the horses mouth, as it were, we got the correct answer.

And even then, people really should try to talk to one of the head horses because in the Philippines, all the little horses will often give different answers. 


  • Skywalker likes this

People inspire you or they drain you, pick them wisely.

Do not regret growing older, it is a privilege denied to many. 

 


#47 BigAl

BigAl
  • Full Member
  • 145 posts
  • 12 thanks
  • 7 topics
  • Local time: 01:56 AM
  • Gender:Male
  • Location:USA
  • My Blood Type:Don't know
  • Philippines:Visited 1 to 5 trips

Posted 12 January 2017 - 9:30 PM

My girlfriend bought a condo last year that is currently being rented for 50php a month over cost of owning. Not my idea of an investment. But in full disclosure this is a "filipino" level condo. We were going to stay there during my trips but she has since moved back to where she ownes a few homes. She was just happy to not loose money.

#48 perrya

perrya

    Cebuman

  • Elite
  • 262 posts
  • 26 thanks
  • 31 topics
  • Local time: 11:56 PM
  • Gender:Male
  • Location:Santa Rosa, California
  • My Blood Type:No option.
  • Philippines:Visited 1 to 5 trips

Posted 15 January 2017 - 10:18 AM

My opinion was just visiting various RE sites in PH online and seeing a 400 sq/ft condo or house sell for 3.5 million peso ($78K). This is really a small apartment or studio with small rooms. A few very nice places furnished rented for 10-45,000 peso, which to me, is a better deal because it included a pool, gym etc. I will never a home there unless my name can be on the title, so my choices are either a condo (which are way overpriced) or just rent in luxury. My GF thought 10000 peso was way too expensive, lol.



#49 Skywalker

Skywalker

    Living in Cebu for 5 years. That's a lot of Cheval Rouge.

  • Elite
  • 10,659 posts
  • 2803 thanks
  • 257 topics
  • Local time: 03:56 PM
  • Gender:Male
  • Location:Cebu
  • My Blood Type:I cannot donate
  • Philippines:Current resident

Posted 15 January 2017 - 10:40 AM

I will never a home there unless my name can be on the title, so my choices are either a condo (which are way overpriced) or just rent in luxury.

 

Cebu condos are "way overpriced" compared to what?  Condos are priced here to sell, and they do.  To arrive at an "overpriced" conclusion requires a bit more information than a few short trips, and looking online I would say.

 

If a property is overpriced, then it usually doesn't sell.  Developers aren't building condos in Cebu to not sell them.

 

You can rent forever, and that way you will never have an asset.  To me that doesn't make sense.  And trust me, you will not get a luxury accommodation here for 10,000 a month - perhaps in the 1980's, but not now.

 

If you can't justify buying a condo, because you view them as overpriced,  then renting is the way forward for you.  And that's fine.


  • Lee, aussiekangaroo, Kabisay-an gid and 1 other like this

#50 Skywalker

Skywalker

    Living in Cebu for 5 years. That's a lot of Cheval Rouge.

  • Elite
  • 10,659 posts
  • 2803 thanks
  • 257 topics
  • Local time: 03:56 PM
  • Gender:Male
  • Location:Cebu
  • My Blood Type:I cannot donate
  • Philippines:Current resident

Posted 15 January 2017 - 10:44 AM

I do find it quite amusing that a home should also be viewed as an asset that is required to appreciate in value.

 

Imagine if the same mindset was applied to cars.   :coffee:






4 user(s) are browsing this forum

2 members, 2 guests, 0 anonymous users


    gmn47, +Salty Dog

Copyright © 2017 Living In Cebu Forums / Woody Paul Petrea