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Given the choice, would you own or rent?


Rent or own property  

44 members have voted

  1. 1. Would you rent a house rather than building one if you could stay for life at a set monthly rent of P8,000?

    • Yes, please explain
    • No, please explain
  2. 2. Would you buy a property and build a house if you intended to stay in the Philippines for life and were able to do so?

    • Yes, please explain
    • No, please explain


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SomeRandomGuy

 

i think i am still stuck in the western view  that    renting is dead money          but  looking around   seeing other people  and what they have gone thru  on not just buying  but also leasing    hmmmmm           damned if u do  and  damned  if u dont 

 

 

I agree that is why i said  i am still stuck in the western view that renting is dead money           if i had of bought here  i would not have been happy       so many islands to see   plus im still young      i may like it here now   in 10 years time   probably not as much      there are days  i  freak out about living here  as  there is no protection  for us  here........     there is the problem with health care ( or lack of    only because i am also aussie  and well  get get free med  back home)   plus  there are so many other thrid world countries out there that are cheaper to live then here and also  have the ability to buy land    just    sigh    there are language barriers 

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I have always rented in Asia. I have never purchased any land, homes, apartments or condos. I have no intentions of ever doing so, either. I do not wish to buy an apartment / condo, so that would only

well, the money will be gone once u buy.   u spend 96000 per year on rent (are there utilities?)   if you spend 2 million on building, then u spend about the same as 20 years of rent (plus u need

People say what if she does this or does that, it's the same in the west even when your name is on the property. I know guys who married American women, had families only to later to get divorced and

hchoate

 

you are essentially trading investment income, whatever it is, into an investment of Philippine property

 

... that you don't even own.

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Rocketman

... that you don't even own.

Well, in a condo you would own. 

 

It can take years to sell, then don't forget the tax on the sale and other unforeseen costs.  Most seem to want to sell relatively quick which leads to big losses in any culture.  I like having my freedom to relocate and keeping my money in my home country (DJIA is +20% YTD, but I use 5% as my long-term guide).  I did comparison charts and always stuck with renting.  But, that's me - your mileage may vary.

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goldote

... that you don't even own.

 

...and probably won't be able to sell.

 

My wife watched me do real estate in the states.

So she saved her money for a house. 

After island hopping for19 years, we decided to buy.

Meeting her high expections was hard.

She knew she'd lose interest if things started changing.

Since that can always happen, she wanted something she could readily sell. 

She waited until she found the right place, people and was invited into the community.

She's just a farmer.

I'm the boss.  But foster no illusions of ownership.

I would not allow her to wear her ski mask to the closing.

I would have rented forever. 

I can't rationalize paying for something that big that I'm not allowed to own.

Her place is nice, now that she's fixed it up, but I still like hotels. 

Faster internet. 

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stevehann

I have been happy in the house my wife owns here. The only problem is that it took the former owner almost a year to sell it. When it is our time to move, it will probably take us at least the same amount of time to sell it. With this lengthy turnover, people should plan far in advance before buying a house.

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stevewool

wow so many stories of what to do , what not to do, being so new i now know renting is a must for me first

Souns strange to many i love my wife so much and i would give her anything she asked for except the one thing she wants and that is to do her dads place up,

I want to live in a place where i could wake up everyday and look out onto a view a nice view and for that to happen its going to cost money, money which is for us both to enjoy and to see the world before i pop off this planet,

Now if i do spend the cash on her dads place it shall be ours i am told and yes it will, we could live there all the time but where is my view, where is my happy living too,

I can see where she is coming from have a solid base at her dads and we can just bugger of for months at a time touring and then back to our place ie her dads and then onto the next adventure,

If mt dream is to buy the house in the bohol and live there for many years what happens when i die the house will be sold maybe and my wife will maybe move back to the family , so trying to make me happy and trying to make my wife happy is a hard one to sort, unless you have lots of cash

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Brucewayne

 

 

Where will your wife and children live after you die? Do they just keep renting?

 

 

 

 

No, as I stated, I'll build once I cash my stocks in or about 2019.

My house will be a steel cage covered with hardiflex with lots of insulation in all walls and decent quality windows.

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Brucewayne

Well, in a condo you would own. 

 

It can take years to sell, then don't forget the tax on the sale and other unforeseen costs.  Most seem to want to sell relatively quick which leads to big losses in any culture.  I like having my freedom to relocate and keeping my money in my home country (DJIA is +20% YTD, but I use 5% as my long-term guide).  I did comparison charts and always stuck with renting.  But, that's me - your mileage may vary.

 

Don't forget the 50 year law when you buy and only buy new.

The 50 year law says that the building must be destroyed or completely renovated at the end of 50 years.

What would my daughter be able to do with it at the end of 50 years when she is in her mid to late 50's?

I don't want to take that chance.

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ellenbrook2001

 

 

Where will your wife and children live after you die? Do they just keep renting?

 

 

 

ahahah good question well for me my wife will have a very very large some of money then shes can buy her house or what ever a wont be there too see if mum dad sisters move with her then suck the rest of her money hes all up too her a did explain what too do or not what too do but you cannot teach PINOY a waist of time.

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hchoate

 

lots of insulation in all walls

 

Darn. And there I was hoping to dispense with the expense of insulation.

 

 

The 50 year law says that the building must be destroyed or completely renovated at the end of 50 years

 

That's insane if stricktly true.

 

 

you cannot teach PINOY a waist of time

 

They can be hard-headed! But I have heard 'Oh, wow, you are right.' after about the tenth time.

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Brucewayne

Darn. And there I was hoping to dispense with the expense of insulation.

 

 

 

That's insane if stricktly true.

 

 

 

They can be hard-headed! But I have heard 'Oh, wow, you are right.' after about the tenth time.

 

Yes, it seems a bit insane to me as well because most of the condos I have looked at look like they are about ready for a good tear down party after about ten years or so.

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