Will new home prices ever go up in value?

[Enuff 29,738]

I dunno. Sounds like a decent sized bathroom to me.

 

sorry, 2 br, 1 cr, total for everything is 28-33sqm

[rainymike 4,374]

For now, I rent and am quite pleased to do so. I've moved a lot of times. Even walked away from my deposits when it made sense to do so.

 

I will probably purchase in the future when I can pay in cash and have some negotiating power. I agree with other posters who believe the quality of construction here is not so great. However, that's not a real problem if I figure in regular maintenance. From all the rentals I've lived in, that maintenance is very frequent and needs to be part of the budget plan.

 

Lot of the locals in my current neighborhood will buy small and then expand the unit. But, homes that have built upwards are scary to me. One moderate quake and I fear the walls will come tumbling down. And homes that have expanded sideways to the property lines are annoyingly close to the neighbors. So I actually prefer buying the smallish starter homes that I can modify to my needs. Not interested in building from scratch as I really have no expertise in that area.

 

I'm not really interested in appreciation as I don't anticipate selling any property in my lifetime. Of course, land will generally appreciate in value over time. But in those places that I prefer to live - outside of the urban center - appreciation will be slow. So I'm more interested in appreciation far down the road for my family. 

 

 

[Hy H 1,987]

 

 

I dunno. Sounds like a decent sized bathroom to me.

 

Yeah same thoughts.

 

Sounds like advertiser wrong wrote it but meant.

 

A 22 sqm motel style with own cr and.........  You can just fit in two single beds and a dining table for two ,

[Contango 659]

sorry, 2 br, 1 cr, total for everything is 28-33sqm

 28 to 33sqm on a 40 sqm block is very small..my NCR condo is 55sqm and small..i decided when i was house/condo hunting last year that 32sqm was the absolute minimum size that was needed, and that 32sqm with only 1 bedroom would be only marginally comfortable. still 720K is a great price, big picture very affordable and affordability is very important...i basically used a combination of wages, cash, asset sales (shares) and 2 credit cards to pay for my condo.

Edited December 7, 2013 by Contango

[Enuff 29,738]

28 to 33sqm on a 40 sqm block is very small..my NCR condo is 55sqm and small..i decided when i was house/condo hunting last year that 32sqm was the absolute minimum size that was needed, and that 32sqm with only 1 bedroom would be only marginally comfortable. still 720K is a great price, big picture very affordable and affordability is very important...i basically used a combination of wages, cash, asset sales (shares) and 2 credit cards to pay for my condo.

Yes. 28-33 sqm is VERY tight but I'm think more about resale. If I'm going to spend money on housing I would prefer to be able to resale quickly. Buying bigger means less qualified candidates for purchase. I only plan on keeping 1 or 2 years unless anything changes. I don't care much about the space as I live out of hotels now. I lived in a camper 1/3 the size for 3 months one summer and was never happier. Bottom line is I don't want to through rent money away if I have a opportunity to gain equity.

 

Sent from my SCH-I545 using Tapatalk

 

 

[Contango 659]

Yes. 28-33 sqm is VERY tight but I'm think more about resale. 

 

Well i would think that at 720K there is an excellent chance that given time and the continued growth in the Filipino economy and the Global rebound that you would have an investment that would at least keep pace with inflation, i just think that buying Filipino real estate and having resale (at a profit) as a primary objective is probably not compatible, especially with such a short time frame in mind...lots of other factors to consider such as Fibre internet availability, distance to transport/amenity's and the developer going bust etc.

[sperry 557]

um just saying...... but you keep saying "I"

 

but you know you cant buy land, you need a filipina so u should be saying "we"

 

so 28 sq m for 2 is very cramped.  u must love close physical contact to try that

[Enuff 29,738]

 

 

i just think that buying Filipino real estate and having resale (at a profit) as a primary objective is probably not compatible

 

if rent is p10k per month, that's p120k per year. if I can buy for p700k and sell a year later for more than p600k............ im my mind I have made a profit.

 

um just saying...... but you keep saying "I"

 

but you know you cant buy land, you need a filipina so u should be saying "we"

 

so 28 sq m for 2 is very cramped.  u must love close physical contact to try that

 

my apologies, SHE will purchase, I just write check.

I am still very young (44) so close physical contact is my way of life

[bargeman 978]

if rent is p10k per month, that's p120k per year. if I can buy for p700k and sell a year later for more than p600k............ im my mind I have made a profit.

 

 

my apologies, SHE will purchase, I just write check.

I am still very young (44) so close physical contact is my way of life

Just be patient, that will change !!!

[SomeRandomGuy 6,596]

it does not really matter if u can not buy the land. U can lease the land for 25 years and own the house.

 

If u love your wife enough to marry her then i am dam sure u can trust her enough for a 25 grand investment...  all good i say go for it

[Headshot 29,354]

it does not really matter if u can not buy the land. U can lease the land for 25 years and own the house.

 

If u love your wife enough to marry her then i am dam sure u can trust her enough for a 25 grand investment...  all good i say go for it

 

And even better...700,000 pesos is only $16,000 US.

[sperry 557]

if rent is p10k per month, that's p120k per year. if I can buy for p700k and sell a year later for more than p600k............ im my mind I have made a profit.

 

 

my apologies, SHE will purchase, I just write check.

I am still very young (44) so close physical contact is my way of life

 

dont forget the charges. buying and reselling will take up some of that money

[cebulover2000 441]

I have been living in 300 sqfoot appartments and 5,000 sqfoot houses. For a relationship, a smaller space is usually better, you have to be more disciplined and show respect, with kids you need some kind of rec room - but in general I have been happier in smaller spaces.

[Contango 659]

I have been living in 300 sqfoot apartments and 5,000 sqfoot houses. For a relationship, a smaller space is usually better, you have to be more disciplined and show respect, with kids you need some kind of rec room - but in general I have been happier in smaller spaces.

 

If your genuinely happy with small and genuinely happy with selling at a near break even price and happy with the other risks...good luck to you.

 

--

 

Looking back i know i had many apprehensions when i bought my 2 million P condo off the plan (big developer) 15 months ago, and then spent 11 months sending 4200 dollars a month to cover the repayment check...but so happy i did now, so happy the plan has all come together and i get to spend 4 weeks over xmas in my condo with my significant other, happy that i have a low cost semi luxury future to look forward to.

Edited December 7, 2013 by Contango

[Hy H 1,987]

dont forget the charges. buying and reselling will take up some of that money

Philippines

 

 

How high are realtors’ and lawyers’ fees in the Philippines? What about other property purchase costs?

 

TRANSACTION COSTS     Who Pays? Notary Fee 5.00% - 10.00% buyer Local Transfer Tax 0.75% buyer Deed of Sale 0.225% - 0.50% buyer Capital Gains Tax 6.00% seller Real Estate Agent´s Fee 3.00% - 5.00% seller Document Stamp Tax 1.50% seller Costs paid by buyer 1.975% - 4.25% Costs paid by seller 10.50% - 12.50% ROUNDTRIP TRANSACTION COSTS 12.475% - 16.75% See Footnotes

Source: Global Property Guide