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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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Brucewayne

With all respect, I now feel there are many flaws in your analysis. For example...

 

 

With investments, you need to keep past and future separate. You have had a profit, great. Have some champagne! But then forget it. Every day you have a choice between selling a stock, or continue to sit on it. A single happy story does not make you a visionary with regards to the future.

 

If you feel the stocks are now expensive, of course sell.

 

 

Big does not have to mean profitable. Your share price will likely depend on other factors, for example, competition, management, etc.

 

 

Nonsense! Splits and the like are just technicalities... normally they do nothing for the value of your investment. I think you have been spending too much time listening to some sales people.

 

 

That is the dream of every investor. But very few pull it off. You could just as well play poker.

 

Seriously, while I believe it is fine to keep an investment for the long term, you should not plan your future based on this sort of best-case scenarios and high hopes.

 

Finally, it looks to me as if your portfolio could do with some diversification. If you have all of your savings invested in one industry in one country, it means you have all your eggs in one basket. This is not wise, and can be corrected at virtually zero cost.... Just google "diversification".

 

Sven

As a matter of fact, I do have a few other investments, including some blue chip stocks in technology, which by the way after a big hit in 2008, is coming back and worth a second chance and I did leave some in Prudential life.

Edited by Brucewayne
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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

smokey

As a matter of fact, I do have a few other investments, including some blue chip stocks in technology, which by the way after a big hit in 2008, is coming back and worth a second chance and I did leave some in Prudential life.

Seems you have lots of stock but only one wife... 

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Brucewayne

I would have a hard time buying a house here.  I've moved 3 times in the past year due to lousy neighbors and the thought of being stuck long-term next to some trashy, inconsiderate jerks makes me cringe.  If I were ever to buy, it would probably have to be a whole island.

That is another reason I have trouble finding the right property.

I did buy one several years ago, started to build on it and the next thing I knew, it was surrounded by squatters and one drug dealer.

Sold it at about what I had in it and moved on.

The wife did understand, but still remembers that we almost had a house.

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RogerDuMond

Holy hell, 22p/meter and not in the boonies?  I wish I had your luck.  Whats the neighborhood like on that 5700 lot if you don't mind me asking?

 

I would classify it as rural. Empty lot on one side with local houses between that and the main road (about 1/4 km to main road). Daycare center on the other side with houses next to that. Across the street is an area of about 15 hectares of rice land. About 6 km to Balamban and 4 KM to Asturias.

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Brucewayne

.......... Less than 1,000 per sq. meter? Sounds great but I take it that it's not in a subdivision. Is it a lot in a decent neighborhood at least or just raw land in the middle of nowhere?

The few titled lots I know of are around Compestella and maybe a kilometer off the highway.

The road right of ways are there and so is electricity, but the roads are a bit rough.

Roads can be fixed and wells can be drilled with the right permits, which I do know how get acquire the permit.

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Brucewayne

Seems you have lots of stock but only one wife... 

 

Better than the other way around, don't you think?

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Dolsos

I would classify it as rural. Empty lot on one side with local houses between that and the main road (about 1/4 km to main road). Daycare center on the other side with houses next to that. Across the street is an area of about 15 hectares of rice land. About 6 km to Balamban and 4 KM to Asturias.

 

 

Very nice find.  I'm always looking out for deals like that, hopefully we can find something soon.

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tomaw

That is another reason I have trouble finding the right property.

I did buy one several years ago, started to build on it and the next thing I knew, it was surrounded by squatters and one drug dealer.

Sold it at about what I had in it and moved on.

The wife did understand, but still remembers that we almost had a house.

........ I don't think we'll have those problems in a secure subdivision.
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Headshot

........ I don't think we'll have those problems in a secure subdivision.

 

:ROFLMAO:  :ROFLMAO:  :ROFLMAO:

 

How tall do you think the walls are on "secure" subdivisions? We have friends who live in gated subdivisions. They have more problems than we do (we live in a small un-gated subdivision). If you don't want bad things happening when you live inside a gated subdivision, make sure your lot is NOT adjacent to a boundary wall. The squatters will build their shacks right up against the other side of the wall.

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USMC-Retired

Looking after your kids' future financial security is great.

 

When you get married you have that very same obligation to your wife.

 

Buying or building a house for your wife is a reasonable expectation on her part.

 

When you start a family then it's time to give every member of your immediate family financial security.

 

It is your duty as a man.

 

I can almost hear the frustration in your wife's attitude while you talk about million dollar future earnings while you live in a 200$ a month rental.

 

Time to man up.

How in the world is it reasonable to give your wife 1.5+ million pesos for a home you do not own? Reasonable is the fact he knows after he parts the money will vanish like a fart in the wind. So ensuring his daughter is entrusted a future education and benifits are of the most importance. My duty as a man is to care for the family via security and well being. Not some show piece of a house or part with gobs of money that could have more value. Man up we got married and if you feel bribing your wife with a house works well your man probally does not come up.

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BossHog

Well, yeah.

 

I do consider it odd that a man would count his speculative investments, organize a trust for a kid until the age of 38 (!)

 

...and then neglect the wife's emotional need for security.

 

Maybe he should deposit the cost of the house in her bank account and let her figure it out.

 

People spend more than the amounts quoted for a house just on an engagement ring.

 

 

 

 

 

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Brucewayne

Well, yeah.

 

I do consider it odd that a man would count his speculative investments, organize a trust for a kid until the age of 38 (!)

 

...and then neglect the wife's emotional need for security.

 

Maybe he should deposit the cost of the house in her bank account and let her figure it out.

 

People spend more than the amounts quoted for a house just on an engagement ring.

I am a bit kuripot, I don't believe in wasting money, especially on junk jewelery or real estate that will never be worth what I would have to pay for it.

My wife is doing just fine in this large house and she has a lot more toys than she ever dreamt of having.

Her future is plenty secure, but I want to make sure my daughter also has a future.

The wife has a Father who could have helped her into a future, but he failed and I don't want to do like him, just spend the money and forget about it.

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Wow, 8000 is a very good deal for a house. Where do you live and how big is the house?

 

Still, if you plan to live here the rest of your life and if you have family here, investing in an own property is better. Don't expect your stocks will go up forever. In a worst case szenario you should have a place to live that you own, where nobody can kick you out, ideally where you can sustain yourself to a certain level, where you can plant something in your garden and/or hold animals. You can't live in your stocks or eat them and if things go really worse, you may not even be able to cash in on your stocks so easily, if at all. You have family, small kid(s). Just consider they will need something for the next 80+ years. A very long time and anything can happen.

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USMC-Retired

 

Maybe he should deposit the cost of the house in her bank account and let her figure it out.

 

 

 

 

 

That statement and a fart in the wind have a lot in common. Unless she has lived in a first world country. She will have zero money sense. She will be just like all those lottery winners who are broke in 5 years. 38 is a long time and bodes well as incentive to get off your ass.

This does not sound like a foolish endevour on his part. It was his ideal plan from the start. 8000 pesos that is cheap rent you can not own for that.

 

Edited by USMC-Retired
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Sven

I am curious, is it possible in the Philippines for a company to own land, and a house?

 

If so, I am thinking...

 

If I had a wife and one child in the Philippines, I would be inclined to set up a small property company with a view to build a house.

 

I believe a foreigner can own up to 40% or so, of a company in the RP.

 

Hence, that company could be owned 40% by me, 40% by the wife and 20% by the child. Or maybe 1/3 each... there are many possible combinations.

 

This would ensure a fair bit of control and stability for all parts of the family.

 

In the case of a divorce, less than half of the investment would be at stake, and the matter could probably be settled in a civilized manner.

 

A will could perhaps be written to specify what should happen to my share in the case of my death.

 

The above would also work well for a common law marriage (cohabitation).

 

Sven

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