Many foreigners don't know how to calculate the value of a house in the Philippines, because they don't know the average 'numbers'. Let me try to help a little bit. - As already mentioned in this video, she said that this house has 120 sqm (1,291.67 sq.ft.) and the lot has 300 sqm (3,229.20 sq.ft.). By the way the parking spot seems to be 3.5 x 5.5 meters and therefore 19.25 sqm (207.21 sq.ft.), and it is common practice in the Philippines to include that number in the house's floor area, to get a much lower (and therefore more attractive) "price per square meter". It is a common trick! The house itself has roughly 100 sqm. If you watch the "walk through" closer, you can easily see that the size of the rooms never support the claimed 120 sqm. Be careful. - At the beginning of this video, you can see the front/ entrance of that house. The wall/fence to the neighbour to the right side, is very close to this house. So, the 'lot area' there is only a handful of square meters. And on the right side of the drive way to the covered parking spot (directly in front of the house door) is also only a handful of square meters (because the front yard is shaped like a very small triangle). And therefore the majority of the claimed 300 sqm "lot area" must be somewhere and somehow on the left side of the house and in the back yard. Right? - Keep in mind, based on the mentioned numbers (120 and 300), the lot area should be 2.5 times the floor area of the house! Does the garden area (again shaped like a triangle) to the left side, and the small garden behind the house (the back yard), really look like twice and a half of the size of the house? - Nope. - Based on the video footage, I would guess the lot area is round about 240 sqm (or twice the house area). Maybe the seller has generously added 6O sqm street area to his calculation. Who knows? Potential buyers should measure the whole lot area before they sign a contract. - Now let's talk about the "How much would it cost me to built exactly the same house?". Well, you easily can see the vertical posts and horizontal beams. So, the load bearing structure of this house is a 'sceleton', and the walls between are just the traditional and since many decades already outdated hollow blocks. Just FYI you cannot compare the Philippines' hollow blocks to the proper ones in the USA or Australia. The hollow blocks in the Philippines are made of dust, powder, a shot of water, and a lot of hope and good luck. That build material is the second cheapest one, and the costs can be calculated with 25.000 php/sqm. If you add plaster & paint, and windows & tiles, steel frame & roof panels, and then you devide it by the number of square meters, you'll end up with average 35k to 45k per sqm. All in! - After I've watched the video multiple times, I can see that everything is just 'standard', and in some details even only 'sub-standard'. For e.g. the kitchen. Let us multiply the true 100 sqm by average 40k php/sqm, and we get 4,000,000.- peso for the house (completely finished and all in). The carport will cost us 20 sqm x 20k php = 400,000.- php. The lot/land possibly will cost us between 2,500 to 3,500 php per sqm in that location. But because of the triangle shape of this lot, you maybe can install a bigger bath tube but not a proper swimming pool. The shape is a disadvantage, and therefore I would pay maximum 3,000 php per sqm. Means between 720,000 and 900,000 php for the lot. So, we will end up somewhere at 5,300,000 peso. Generously calculated. For making this house a true "steal" or "bargain", the asking price should be round about 4,800,000 peso, IMHO.
Very informative and accurate post. You did make one mistake the land around the house is 1.5 times the area of the house, 180 sqr meter around the 120sqr meter house for a total of 300 sqr meter. When I mention the house I built I always say 150 sqr meter of interior space. I also have a carport, porch, balcony, roof deck that I don’t include. I then tried to make it as nice as possible, narra plank flooring for 2 bedrooms and narra cabinets, larger sized tiles, tempered glass, stackable door, marble counter tops, kamagong and dau furniture. Most people don’t realize when it comes to windows PFC is a lot more expensive than aluminum. Most houses for resale and even many condos don’t use the nicest materials. That’s why when you get an all built in house by a contractor make sure you see the materials and the build out of your home.
@@neilmartin4187 I really appreciate your response. Thank you so much. - And 'yes', you're right; the remaining lot area around the house is of course 300 - 120 = 180 SQM. My bad. Sadly the triangle shape of that lot ruins the possibility of a proper sized swimming pool, what normally wouldn't be a problem if you have 180 SQM left. In my personal opinion it would have been better, if they would have chosen a better location for that house on that lot (zero additional costs), and instead of a bungalow they could have built a 2-story house for near the same money and with more lot area left. That would easily justify a 10,000,000 peso price tag.
@@herviehuliselan8196 30 years of business in the real estate field. Developer, planer, contractor, architect, broker. Observing the Philippines real estate 'bubble' since round about 15 years. Especially Cebu, Negros Oriental and Occidental, and parts of Mindanao.
Oh thank you St Ninyo you gave us someone who is transparent w/ the price instead of "just pm me for price" lol. Nice home Alma, thank you for sharing.
Yes the price is both stated in the title and stated in the video and listed in the description below the video but one viewer commented that they did not trust me because I did not state the price until towards the end of the video. Guess I just can win with some people LOL Thank you for your comment.
Good day, ma'am Debbie thank you for so much for subscribing. The property is located in East Balabag Valencia. I am happy to assist in viewing the property, here is my fb account Alma Almonte fulco. we can arrange viewing with your best time.
Actually sir the price is shown in the title so it is known before the video even is played. Possibly you just overlooked it. Thank you for your comment.
Good price but I can build a bigger and better with 85k My own $$$ ... but would never do that because the land will never be mine lol. Soooo, a condo in BGC or Makati here I come muhahaha 😊
Yes sir, it is probable if you build the house yourself for your own family that you will save the profit costs the builder had to put into the price of the house for resale purposes. Thank you for your comment.
Neutral colors are not the normal here. Often pastels are used, but can easily be fixed with a new paint. Thank you for your comment and I hope you enjoyed the video. :)
The property will likely eventually sell at a price the market will bear. Time will tell what that price is. Currently 6.5 million pesos is equal to 114 thousand US dollars which is only about 27% of what the average home price is in the USA.Thank you for your comment 🙂
Many foreigners don't know how to calculate the value of a house in the Philippines, because they don't know the average 'numbers'. Let me try to help a little bit. - As already mentioned in this video, she said that this house has 120 sqm (1,291.67 sq.ft.) and the lot has 300 sqm (3,229.20 sq.ft.). By the way the parking spot seems to be 3.5 x 5.5 meters and therefore 19.25 sqm (207.21 sq.ft.), and it is common practice in the Philippines to include that number in the house's floor area, to get a much lower (and therefore more attractive) "price per square meter". It is a common trick! The house itself has roughly 100 sqm. If you watch the "walk through" closer, you can easily see that the size of the rooms never support the claimed 120 sqm. Be careful. - At the beginning of this video, you can see the front/ entrance of that house. The wall/fence to the neighbour to the right side, is very close to this house. So, the 'lot area' there is only a handful of square meters. And on the right side of the drive way to the covered parking spot (directly in front of the house door) is also only a handful of square meters (because the front yard is shaped like a very small triangle). And therefore the majority of the claimed 300 sqm "lot area" must be somewhere and somehow on the left side of the house and in the back yard. Right? - Keep in mind, based on the mentioned numbers (120 and 300), the lot area should be 2.5 times the floor area of the house! Does the garden area (again shaped like a triangle) to the left side, and the small garden behind the house (the back yard), really look like twice and a half of the size of the house? - Nope. - Based on the video footage, I would guess the lot area is round about 240 sqm (or twice the house area). Maybe the seller has generously added 6O sqm street area to his calculation. Who knows? Potential buyers should measure the whole lot area before they sign a contract. - Now let's talk about the "How much would it cost me to built exactly the same house?". Well, you easily can see the vertical posts and horizontal beams. So, the load bearing structure of this house is a 'sceleton', and the walls between are just the traditional and since many decades already outdated hollow blocks. Just FYI you cannot compare the Philippines' hollow blocks to the proper ones in the USA or Australia. The hollow blocks in the Philippines are made of dust, powder, a shot of water, and a lot of hope and good luck. That build material is the second cheapest one, and the costs can be calculated with 25.000 php/sqm. If you add plaster & paint, and windows & tiles, steel frame & roof panels, and then you devide it by the number of square meters, you'll end up with average 35k to 45k per sqm. All in! - After I've watched the video multiple times, I can see that everything is just 'standard', and in some details even only 'sub-standard'. For e.g. the kitchen. Let us multiply the true 100 sqm by average 40k php/sqm, and we get 4,000,000.- peso for the house (completely finished and all in). The carport will cost us 20 sqm x 20k php = 400,000.- php. The lot/land possibly will cost us between 2,500 to 3,500 php per sqm in that location. But because of the triangle shape of this lot, you maybe can install a bigger bath tube but not a proper swimming pool. The shape is a disadvantage, and therefore I would pay maximum 3,000 php per sqm. Means between 720,000 and 900,000 php for the lot. So, we will end up somewhere at 5,300,000 peso. Generously calculated. For making this house a true "steal" or "bargain", the asking price should be round about 4,800,000 peso, IMHO.
Very informative and accurate post. You did make one mistake the land around the house is 1.5 times the area of the house, 180 sqr meter around the 120sqr meter house for a total of 300 sqr meter. When I mention the house I built I always say 150 sqr meter of interior space. I also have a carport, porch, balcony, roof deck that I don’t include. I then tried to make it as nice as possible, narra plank flooring for 2 bedrooms and narra cabinets, larger sized tiles, tempered glass, stackable door, marble counter tops, kamagong and dau furniture. Most people don’t realize when it comes to windows PFC is a lot more expensive than aluminum. Most houses for resale and even many condos don’t use the nicest materials. That’s why when you get an all built in house by a contractor make sure you see the materials and the build out of your home.
@@neilmartin4187 I really appreciate your response. Thank you so much. - And 'yes', you're right; the remaining lot area around the house is of course 300 - 120 = 180 SQM. My bad. Sadly the triangle shape of that lot ruins the possibility of a proper sized swimming pool, what normally wouldn't be a problem if you have 180 SQM left. In my personal opinion it would have been better, if they would have chosen a better location for that house on that lot (zero additional costs), and instead of a bungalow they could have built a 2-story house for near the same money and with more lot area left. That would easily justify a 10,000,000 peso price tag.
How do you know all of this.!?
@@herviehuliselan8196 30 years of business in the real estate field. Developer, planer, contractor, architect, broker. Observing the Philippines real estate 'bubble' since round about 15 years. Especially Cebu, Negros Oriental and Occidental, and parts of Mindanao.
This property just recently sold for 5.5 million pesos so your calculation was quite accurate sir. 😊
Great job and fantastic price…
Thank you sir. I am happy you enjoyed the video. Thank you for your comment.
Not bad for $113K. So much cheaper than real estate in the USA
Yes, in general, property here is still a value compared to most Western nations.
Oh thank you St Ninyo you gave us someone who is transparent w/ the price instead of "just pm me for price" lol. Nice home Alma, thank you for sharing.
Yes the price is both stated in the title and stated in the video and listed in the description below the video but one viewer commented that they did not trust me because I did not state the price until towards the end of the video. Guess I just can win with some people LOL Thank you for your comment.
Good Day !
Where is the island in the kichen. I have not seen.
LOL. Sorry sir I misspoke. That was a long day. I meant counter and not island, of course. Thank you for your comment and hope you enjoyed thevideo :)
Hahaha!! " there's machine down there".😅😂😅
I try to be both informative and a bit entertaining in my videos. I am glad you appreciate my humor LOL
Hi ma’am new sub here
Asa ni dapit sa Valencia!!?
Good day, ma'am Debbie thank you for so much for subscribing. The property is located in East Balabag Valencia. I am happy to assist in viewing the property, here is my fb account Alma Almonte fulco. we can arrange viewing with your best time.
why your price is more expensive than the owner??
Good evening thank you for the comments. The price I have posted is the owners price. The house is recently 😊
@ do you have urgent for sale house and lot? my budget is only 6M
@@leungmarivic5746 good day maam yes maam I have.
May I know your whatsapp#? Thank.you
Thats not worth 6.5 million ur crazy
I never trust use any realtor who wastes time avoiding price until the end
Actually sir the price is shown in the title so it is known before the video even is played. Possibly you just overlooked it. Thank you for your comment.
Good price but I can build a bigger and better with 85k My own $$$ ... but would never do that because the land will never be mine lol. Soooo, a condo in BGC or Makati here I come muhahaha 😊
This property just recently sold for 5.5 million pesos. 😀
I can take 6.5 mllion build my self and have way better looking house
Yes sir, it is probable if you build the house yourself for your own family that you will save the profit costs the builder had to put into the price of the house for resale purposes. Thank you for your comment.
i dont like the inside color
Neutral colors are not the normal here. Often pastels are used, but can easily be fixed with a new paint. Thank you for your comment and I hope you enjoyed the video. :)
Not worth it for 6.5 million. The design of the house is not classy and elegant .
The property will likely eventually sell at a price the market will bear. Time will tell what that price is. Currently 6.5 million pesos is equal to 114 thousand US dollars which is only about 27% of what the average home price is in the USA.Thank you for your comment 🙂