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Thinking of relocating to cebu for up to 4 years need advise


Faktor

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i will be going with my long term gf that i very much plan to marry in the future. we have talked education and living there since ormoc is more or less gone and very unsafe now. what is the best way. rent or buy a condo or house i want atleast 80sqm but cant afford to pay much more than 10-12k, is it posible for her to buy it and i rent a space from her for the amount the bank takes for the loan a month, and how much do u pay the bank on lets say a 3 or a 4 mill loan a month. that way the money will still be ours later. 

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thinking even, hate the t on my keyboard. would like it in a peacefull place and if there is security that is a huge bonus, so i am thinking condo is where the security is

 

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udonthani

 would like it in a peacefull place and if there is security that is a huge bonus, so i am thinking where the security is

have you thought of Denmark?

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have you thought of Denmark?

if i could afford living in denmark i would. lets just say here massage 1 hour 500dkk. 1 pepsi max 1.5 liter 27 now.. time that with 8 and u have it in peso. 1 chicken on sale 500 peso. beef on sale 400 peso per kilo for minsed or grinded what ever u call it. not to speak of renting a place, a small 1 bedroom apartment will easily cost 3000dkk and for that price u either have to live where the crows give up or bring here own lunch or settle for bathroom shared with others and perhaps even the kitchen. it is not without reason denmark and swiss are the 2 most expensive countries in the world to live in, and with a broken spine and a small pension. i cant afford to live in my own country

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and for the good beef hold on to hats and socks,, tenderloin 300+ per kilo on sale most often, that is 2400 peso on sale

 

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Monsoon

Expect to pay 12%APR on a residential mortgage in the Philippines. Some banks have lower APR but this is locked in only one year at  a time. 

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Headshot

Faktor, if you decide to move to Cebu, then move to Cebu...but don't even think about buying property until you know for sure that you want to spend a LONG time here. I take it your GF is a Filipina, and is able to still buy land in the Philippines. Otherwise, you can't buy property here at all. Foreigners can't own real estate in the Philippines...with the exception of condominiums. Condos here are WAY overpriced, and you will never be able to buy the living space you want for the money you want to pay. It is also not all that easy for foreigners to get credit at all to buy real estate in the Philippines.

 

If you do manage to buy real estate in the Philippines, then it will be very difficult to sell it in the future without taking a huge loss...if you decide at some point that the Philippines isn't the place for you. Properties stay on the market for years here before they sell. Pretty much the only exception to that is if you decide to take the loss early on, and basically give the property away. And even if you sell at a huge loss, expect to pay capital gains tax on the sale. The Philippine government doesn't understand the concept of capital gains any more than they understand value added. Capital gains tax and value added tax (VAT) are, in reality, just sales taxes.

 

Therefore, my advice is to just rent...for at least a couple of years. By then, you will know better if this is the place for you. However, even then, the advice I just gave you will still hold true if you ever decide to leave the Philippines. Don't come here thinking that you will ever make money on real estate. It seldom happens.

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SomeRandomGuy

 

 

Faktor, if you decide to move to the Philippines, then move to the Philippines.

isn't he already here?

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isn't he already here?

 

It didn't sound like it from the OP and topic title. I didn't look at his profile location. However, with the questions asked, the advice is still good whether he is moving from another island or another country.

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cebubird

Knowing what I know now and what I see here, after 3 1/2 years NEVER would I move here.

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isn't he already here?

yaa i have lived in calubian and ormoc for close to 2 years hehe i know i might take a loss, but renting is taking the full loss. u ain getting anything back

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u dont really move to ph to make money, u move there so he money u have last longer and u can lead a semi decent life

making money in ph is really not an option

 

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