Is Renting In The Philippines Really Cheaper Than Building A House?
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- เผยแพร่เมื่อ 3 ก.ค. 2024
- I decided to build my own house after encountering a myriad of problems renting. In the end it was actually cheaper to build than paying rent. Thanks for watching.
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Zelle calroach2005@yahoo.com Calvin Roach
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#philippines #travel #retirement - บันเทิง
Yes it is cheaper to rent here in the Philippines. That is a fact and don't let ANYONE tell you different. I have seen it first hand. You are Not guaranteed what is going to happen to you as an expat with owning anything here. You have VERY LITTLE rights being from another country. That goes with having kids here too. And don't let anyone tell you different. Just keep a very low profile. Rent and stay single here. Hold on to your money in case you have an emergency here and you have to go home. You can thank me later.
The fact is that not everyone has 100 or 150k US to build a house. And if you do have the money if you invest it properly it will pay for a large portion of your rent if not all. If you rent a condo, and there’s a lot of condos for rent, you don’t have to worry about maintenance or value. You can just move out to the next one. You are also free to move to different provinces, different islands or cities. Something to think about.
I paid 20K USD for our house. The cost to build a house in the Philippines is very reasonable if done the right way.
Renting = Freedom. I've lived in Cebu, Bacolod, DSB, Iloilo, and now Eastwood city. If I had built a home I probably wouldnt be as mobile as I am now. Free to explore as I see fit. Of course if you are married/settled then maybe you do just want to be in one place. Everyone's situatuon is different.
@@williethompson8616 exactly, for a single guy that’s mobile, buying isn’t as good as renting. For a guy that’s decided where he wants to settle down, it might be better to buy, nothings cut into stone, all options are on the table. Calvin’s just telling you, here in the Philippines you have that option and it will not break the bank.
I had visited the PH with my wife a few times before I considered moving to the PH. I retired early, and my Filipina wife, living in America decided to NOT move back to the PH, with our college age kids. So be it...
I grew up in construction. And my new bride's brother is a civil engineer. He and I looked for land to buy, and then to build on. This was in 2007. The build cost more than I expected because the exchange rate varied. from 60 PHP per USD, going down to 42 PHP per USD. The workers were all hired by my Civil Engineer bro--in-law. some technical issues I had experience with and advised my Bro-in-law. Together the house was built in 7 months. We moved into our incomplete home, and a few months later had the Mayor's office do their inspections. 17 years ago, and we are happy in our well constructed home.
Great chat! I did the Airbnb, the renting ( $1,000) in Iloilo and now I'm in Antique about to move into a home we just built!
💯 real talk Cal.. I've been renting the past four months and throwing my money away. Need to get my house done in province.. WE my family needs it.
cheap rent comes with no maintenance. for a house, if major ongoing problems like roof leaking or flooding, just move out. expect to do repairs like plumbing, electrical, locks & painting yourself. the rules are different than in the west. would depend on landlord of course. many landlords would live overseas & just want the cash flow. i’d still rent but carefully check & use buyer beware principle before signing lease.
It totally works for you and your situation Calvin, we appreciate the 360 it’s another data point to compare and contrast. Regardless if it’s something others are going to do it still provokes thought. We all need to think more about these big issues
Good move building the house. Wise decision with excellent return on investment. Congratulations!
Yeah I’m convinced to build once I get there….
Recently added a 32sqm 1bdr apartment for my widowed sister. 600k just south of Mnl. Her husband passed suddenly year ago 60 years old never achieving his dream of retiring. First thing I seen when we got home was his urn and funeral picture on the mantel. Got to say it hit me seeing his smiling face from the past.
I agree. If you pay rent for 25,000 PHPesos ($430) a month, in 4 years that is almost $20K in US dollars. Save your money in the US, come to the Pi & buy or build your home. I purchased property in Colombia & Brazil.
You can't own land in the Philippines
Renting is cheaper in many cities in the USA these days, house we rent at 1,995 would sell at 500K, 100K down, 2,800 a month plus taxes and ins, and upkeep ... house is 70 years old, plumbing and wiring is old and costs an arm and a leg. No thanks! at 66 and 55 we would never pay off the loan. We do have a home in the Philippines, bigger than Calvin's, but not nearly as nice...
Facts
Great points. I notice that other well-known Philippine based TH-camrs are finally realizing your wisdom and are building their own homes!
Its better to build own house than renting sir♥️
God bless sir
Very informative !
Excellent communicator !
⭐️⭐️⭐️⭐️⭐️ !
Big Unc.. I'll call you that because that's who it feels like is talking to me lol. I just want to thank you for the jewels that you're dropping and the inspiring words. I want you to understand that you truly make an impact when you do these videos and I hope you keep making them. Blessings to you and your family. Happy 4th of July!
You're house is designed like my House 🏠 in America 🇺🇸 yours look better tho i have siding on mine. But most importantly its paid off like yours. Great video brotha.
Good video. Everyone’s situation is different. You have to do what’s best for you and your family. My wife and I are building a house. 🇵🇭🇺🇸🙏🏾
If you’re gonna build here make sure your contractor treats your soil for termites. My apt bldg in angeles is only two years old, and already have termites in the kitchen cabinets. My landlord said she doesn’t believe the contractor treated the soil properly. It’s a really bad problem here along with rats and mice. The rodents will eat the wiring and eat up your shoes if they sit long enough.
Well, different people with different natures require different living situations. Some people like renting and not having to worry about repairing and fixing things on their own, certain people like being in charge of their home and taking care of their own maintenance and repairs. So its as they say, what ever floats your boat. In time i plan to get together with the lady so that we can buy a small, comfortable home for ourselves, because im used to owning my own home, and yes i have also rented before. And so there should be no reason for this senseless debate about which is better only for the sake of argument. Enjoy your life here in the Philippines ( you'll have enough problems, no need to create more) and enjoy what ever living condition you find suitable for your cost of living, happiness and peace of mind. Peace and love
Great sharing my friend
I have an efficiency in FL and as you say living in a minimalist nature is sure so much easier 👍
All foreigners are renting in the Philippines some just have longer leases with the illusion of ownership
Find in your heart to help somebody good man!
I believe it could be either way for some people renting is better. But my wife and I decided to build a house because we wanted to have something to leave to our family one day. We want to make sure they always have a roof over their head.
When I was in the Navy. One of the times after visiting the Philippines, people who bought and stored furniture had a termite problem right there in our ship (USS Acadia AD-42)
I've never owned. Only rent. I think about the upgrades done on my current rental for new water heater, new AC unit, gutters, plumbing. They pay for lawn care. I'll keep renting. Maintenance costs add up quick.
Yeah, you could build a house in 3 years of rent. But the point is never buy something, YOU DONT OWN.
You don't own the land. You can be thrown out tomorrow.
They can sell even if you own 40%.
@patrickmunneke8348 even in the USA you don't own the Land. Don't pay the Property Taxes and you will see who REALLY owns the land.
@@SacklunchShacks Still an improvement over this third world situation.
@@patrickmunneke8348 That's debatable depending on the geography and the "local politics" and that goes for almost anywhere in the world. I like many "Developing Countries".......ie.......3rd World locations because there is less government regulation. Me personally I like less government and less Corporate Banking. Many of your larger cities in the USA are over regulated and BROKE due to over spending. In the USA we are used to "spending what we don't have".......ie.....credit. In 3rd world situations Culturally they don't even think of spending on what they don't have. Instead they work for what they already have.
All of this is subjective. I rather BUILD my own house (debt free) in a rural location rather than get a 30 year mortgage and live in the city. The Philippines offers more opportunities in my book..........but once again............that's very subjective opinion.
Well said and you brought up some very good point.
There's nothing like doing something yourself that brings peace of mind because I know if i do any repair im doing it right and it's not gonna take a month or more to get ur done. I wait for no man. Lol !!!
Lol like the shirt😂
😂
Fun fact. That's the first character to ever do a mic drop. That's who it comes from. 😂
@hi-tych 😃
Wow, did not know we can have a 40% share in the property in the PH. THANKS brother. Peace.
Guys need to decide whether it is better to rent or to own. Thank you always talking the Nitty Gritty brotherman. BTW, love the Randy Watson t-shirt.
Like the T-shirt bro
Good point about rent looking attractive to someone not there. That is what I thought sitting here in the USA. But I built a house there for my wife and we won't be paying rent when we come.
Thanks I see I'm in the 🇺🇸 house are going up every year go ahead bro I see you enjoying yourself there that's what's up💯👈
Another Great Video, I am planning to build a 50 sqm house, 2 bedroom with 1cr in Lapu Lapu 🏠
Great to hear, what are you anticipating material cost alone will be? I too am planning. So I ask what to you expect design, utility, labor, and permitting to cost on top of materials? I am trying to do the same thing. I forgot to say in Cebu.
@@IB4U2Cme the design and blue prints and for the engineer to make the blue prints and to have the electrical turned on and inspected and to get the building permit was 15k pesos. Labor for 4 to 8 men is between $250 - $500 a week. 3500 #6 hollow blocks was $1,700. I am going to pay the engineer 20k pesos to supervise the layout work and the building of the Hollow Blocks. Im in Bohol. Some material is cheaper there than here.
Just over the three years you’ve owned the house it’s about 550 per month, but it’s paid for. Very good decision in my opinion, because there isn’t a monthly rent per se anymore. Maybe if they look at buying as a 3-5 year venture, it may make more sense.
But it actually isn't his. He could be gone tommorow. And it doesn't matter if he doesn't mind or not.
@@patrickmunneke8348 you know, over here in the Philippines nothing is yours, including your gf or wife, you’re just paying rent. I’m telling you what I’ve learned, coming here since 1982. What Calvin has is as close to ownership as a foreigner can get. If he owns the property until boobie turns 18 it can be put in her name, and I’m sure that’s his wish. Where in America do you have an option like this, at these prices????
@@sammydavis2666 He already fooled around on his lady. What's the chance it lasts tell until she is 18?
He doesn't own anything. The land is in his girlfriends name.
@@patrickmunneke8348 if you don’t have any faith you shouldn’t come to the Philippines. Most guys in the pi fool around once or twice til they are sure they have a good lady. Most Filipina woman have ten to twenty guys on the string at once so I can’t say I have any pity for one that gets cheated on at all
@@patrickmunneke8348 the Philippines is a pill that can be used or abused, you can’t kill the dr because someone overdosed on the prescription
Personally I'd be nervous buying a house 🏠 in The Philippines: Earthquakes, Typhoons, Volcanos, Mudslides, Squatters, etc.
You mentioned in a past video your house had cracks in the walls.
Build the home and lease the land for 1 dollar for 50 years
I would argue in certain cases it may be 'cheaper' (?) like in Steve's case ( The Philippine Info Channel ) pays $80 / mo. for his place - and fixed it up to his liking. -- For a single guy not married it may not be advisable trying to build ? -- I certainly like the low rent and long term I wouldn't mind spending a few grand to 'make it mine' as Steve says. Over a long enough period of time it would be worth it to me as being equal to perhaps $110 / mo. for example. -?- Very cheap by anyone's standards ?
And built with tall concrete walls with blade wire, nice safe place, shoulders, ha ha.
It's more for privacy. We don't have guns and ADT here for security like you do in America 😂
I am in Cebu, I cannot get $150,000 to build a small home on an existing lot. Labor may be cheaper where you live, but I might be able to build a 70SM home for materials alone.
I feel what you say am the same way too hopefully when I go to the Philippines I want to build my own house 🏠
✅✅✅
Seems like everyone is talking about the problems with renting. I hear more of that then everything besides dating.
I would love to find a piece of land near the ocean in the Philippines and build a house for me and my wife
how often do you have to re-paint the house? Weather is damaging hell on these buildings.
Still keeping it real
i will only build a house if have filipina who u can trust that wont kick u out or try take house from you. Than everybody will defintely build a house, but as far as more freedom move where u wanna move than rent.
A few things I've never heard spoken about is that Home taxes are very cheap here, Like $200 a year and home insurance is about the same. Ocean front property is prime real estate any where. But in Bohol very reasonable compared to US about 10% the cost compared to Florida. Inflation is worldwide. So your $500 rent will be $1000 in how many years 10-15. I'm building a house about Calvin's size house 630 sq ft. I have 5 or 6 men working and the cost for all of them is less than $500 a week. 6 day work week too. I was a beach home builder in Florida so I know a good worker when I see one, and these men work hard.
Our taxes have never exceeded 50 dollars.
@@calroach1 last month they raised my brothers home taxes from $9,000 to $18,000 in CT.
I get what you’re saying but beachfront on the water property in Bohol is not “reasonable”. But I understand what you’re saying compared to Florida but by that comparison everything is reasonable! 😅
@@thebeachoflife 80k for beach front is reasonable anywhere.
@@YoLoBong-xs3to 80k for 100ft of waterfront is only reasonable for the 1% here.
How big is your lot?
13:45 Actually it is...My opinion,But Long term financially it's Abt the same, One you own the other no responsibility and can move around
Yr Home is Perfect
@Go2GuyMike it is brother. We don't need some big monstrosity.
To Sunshine Shoulder's: I just wanted to say that you're a much more better looking guy than that other Philippines vlogger guy by the TH-cam channel name of "Jumping Places". Have you ever heard of "Jumping Places" before? He's the half English/half Brazilian guy who's married to a Brazilian woman by the name of Carroll. But yeah you're so much more better looking than that Philippines vlogger guy with the TH-cam channel named "Jumping Places" anyday.
😅
@@calroach1 Ok well if you are Calvin of Sunshine Shoulder's, yes you are way more better looking than that one guy who does his vlogging in the Philippines by the TH-cam channel named "Jumping Places". Just type in the TH-cam channel name "Jumping Places", and you'll see that you are way more better looking than he is.
It's cheaper to build house than rent
Never Buy a house, NEVER
Works out for this guy...i don't know if he can ever sell it but it was cheap enough to pay for itself
He does not tell you about the poor construction, barking dogs, chickens, loud music,
@GeraldBeagan-ee6se man I have people inquiring about my property all the time. The price is in the sweet range that many are searching for.
@user-er9rb8rg2i poor construction? Dude you have no idea a but why should I care what an invisible profile says 🙄
Good luck, my predictions are it will be on the market this time next year,
How are the property taxes and HOA fees in the Philippines?
Calvin said his taxes were $50 a year. Not sure but seems HOA would only be for Condo. Insurance may be about $200 a year.
Taxes are diet cheap, HOA Abt 10 bucks most per month
Wow that low?@YoLoBong-xs3to
So, Filipino building security guards are snitches and will ruin your player game 😅. If I am there for a couple of monrhs renting how tp get around that?
At 12:55, doesn't snitches get stiches? 😀
How many sqm and total cost please?
Scott we paid 20K USD for our place and it's 56-58 square meters. The layout makes it more spacious than what you would think a 650 sq foot house would be. I'm very satisfied.
@@calroach1I second that
But Calvin how many people do you have living in that house
Its much cheaper and it doesn't make sense to buy as opposed to rent. Check out the anti-dummie law in the Philippines. Always check with a real estate attorney before buying or building. High, high risk to buy. Not worth it! 40 percent owner of a Corporation is a minority stake and yes they can sell it from under you. They hold 60 percent of the vote. Take the $150k and invest in a high yield ETF. Earn $3000 and month and rent a decent home for $350. My MBA degree is actually worth something. hahaha
I've already recouped the cost of our house and it hasn't been 3 years. I'm no dummy. Every situation is different. I stopped listening to the experts and started researching for myself. You can rent a dump here if you'd like but who comes 8K miles to live like a bum? Thanks for watching.
@@calroach1 Trust me I don’t live like a bum . If you recouped 100 percent then you are very lucky and most will never do that . High high risk !
3000 a month on 150k is 24 percent, where are you going to earn that?
I agree, I am renting a very nice 2 bedroom, 1 bathroom house in Bohol on 1 acre for $250 a month. I owned a home in the US and do not plan to do so again. Remember "easy to buy, hard to sell".
@@donf6625 FepI etf for one