Buying a Home in the Philippines

Want to buy Your Dream Home in the Philippines, Find out how in this informative post.

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(M)  +63-923-908-9375  (inside the Philippines 0-923-908-9375)
(E)   Charles_Harman@rocketmail.com

LAND LINE PHONE

63 32 520-1412 PLDT Philippine Long Distance Telephone (from the USA)

529-1412 (From Cebu)

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If you are married to a Filipina it is extremely easy to buy your dream home anywhere in the Philippines, and finance everything including the down payment. You can find nice NEW homes here for only around $40,000 to $50,000. Also please visit our Property Listings Page for affordable homes in secure new subdivisions and and condos. Even if you are on Social Security as I am.

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Since I am in the process of buying a home here myself, I thought it would be a great idea to post my experiences with the process of searching for and buying our new home in the Philippines. But first I must tell you about the rules for buying homes. First off a foreigner or anyone that is not a citizen or born in the Philippines, or of  Filipino nationality cannot buy a home by himself, that is some who is single or not married, but he can buy a Condo unit here. But not to worry, because there is a way around this, and that is to buy it through a Filipino Citizen, this can be a partner but is usually your wife or husband. It can also be a corporation 70% owned by a Filipino. The usual way this transpires is: a guy retires here and marries a Filipina or he has married a Filipina and brings her here. As for me I met my wife online and later married here here here in the Philippines. Even before I married my wife I had already built here a huge one story house in Bogo City in northern Cebu. But the problem with this house was that it was just too big and costly to run. Anyway to make a long story short we just sold that house this year after only living in it 2 of the 8 years we were married. The money went to pay off a large loan we had.

More recently Marianne told me she wanted to buy a home here in Talisay City near and south of  Cebu City.  So we contacted a realtor who came and picked us up and showed us the homes in the Cebu area. After a day of shopping around and looking at countless homes we finally settled on a smal 2 bedroom home in Talisay City.  But the problem was these realtors failed to take care of us properly and did not tell us about the holding fee that is needed to secure this property and prevent it from being bought by someone else. Anyway they just told us it was OK and not to worry. And let us go home without dong anything. The next day we decided to make the down payment but found out the house was now sold to someone else. So here is the first lesson we learned. If you like the house and are sure it is your final decision make the holding fee so no one can take it away from you. Holding Fees can be transferred if you find a better home within the same subdivision or company like Camella Homes. However, holding fees are non-refundable and usually 20% of the sale value of the home, but can vary between builders. In our case the first house which was 1.8 million and the holding fee was 20,000. So you need to be sure this is your choice because if you change your mind that cash will be lost forever.

Even though that house was in a nice location and was small yet well built we did find another home with a different set of realtor and broker for the Camella Homes in Talisay. This was a 3 bedroom 2 bath unit to be built in a lot on Camella Homes in Talisay City. This subdivision is  just below the first subdivision where we had chose the first house.  I personally like the looks of these homes which have a strong Spanish influence yet are simple in their design and I like simplicity. We picked out the style of home we wanted but found out there were no more ready to move in homes available. So we opted to choose the lot location and have one built for us. They told us it takes six months for them to finish one home and this starts when the down payment is paid in full.

Now on Sunday we visited the Camella Homes in Car-Car City 45 minutes south of Talisay which is 15 minutes or less south of Cebu City. Houses there are a lot cheaper then in Cebu City and Marianne fell in love with one 3 steps above the one she chose in Talisay yet the same price. This house is a 5 bedroom, 3 bath 2 story home. So we found out we can transfer the Holding fee from the 2.7 million Peso home in Talisay to the much larger and nicer home in Car-Car for the same price 2.7 million and financed it for 10 years instead of 3. The holding fee at Camella homes is 15,000 pesos.

The two photos below are of the  Elasia a 5 bedroom 3 Bath and the Marga is a 2 bedroom and 1 Bath.  I am a guy on Social Security, see how you can manage your money to do big things. When I can here in 2004 I had more than 200,000 in the bank, guess what in 8 years it is all gone now.

By the way most new homes built in the Philippines are two story as they have a smaller footprint, that is they take up less space and space is a premium in the Philippines. Also nearly all Filipino homes have one side without windows for privacy reasons and also as a firewall. With this design you don’t have to worry about your neighbors looking into your windows from theirs as this is impossible with this design.

To buy a house in the Philippines, you have two options, either buy a “ready to move in home” that is one that has been completed and is ready for you to move into it, or choose a lot and wait about six months for the house to be built. Since there were no finished units we had no choice but to wait.

The next step in the buying process for Camella Homes is it to drive into Cebu City to the Camella Homes main office. Here we talked about the various models, prices, and financing options.  Once we chose these options someone came in and explained the finance options to us. You can actually finance the down payment and the mortgage on these homes which makes it very easy to buy a house here, who has 200,000 to 600,000 pesos just lying around these days. Once the down payment had been met, we can reconsider and go with bank financing for 15 to 30 years if we want which will get that payment way down.  If you have any questions please feel free to email me or call.

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What You Need:

To be able to buy a home in the Philippines you need to present a valid Marriage Contract and Prof of Income. This prof of income can be your last three bank statements showing the amount of your pension and any other income you may have. If you are over 60 years of age you can get in-hose financing which is a bit high here (14%). If under 60 you will get bank financing for up to 30 years. Now if you are over 60 and opted for the in-house financing them pay off the down payment, any bank here will go ahead and do a mortgage for you at a lesser interest rate. That’s pretty much it… If you are interested in looking at some of the homes here, please contact me, I along with my realtor and broker will pick you up and take you around and to see these new homes.

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San Josemaria Village Talisay, 2 Bedroom, 1 bath one story home for 1.8 million.

This is the first home we chose the one we ended up loosing because we were not told about the holding fee to secure it. It’s a 2 be3droom 1 bath unit that was situated directly next to the main gate and a security guard.

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Elaisa Model Home, 5 bedrooms 3 baths

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Model Home Elaisa 5 Bedrooms, 3 Baths, 2.7 Million in Car-Car City Floor Area 97 aq. m. Lot size 110 Sq. M.

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Marga Model Home,  2 bedrooms 1 bath

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Model Home Marga 2 Bedrooms, 1 Baths, 2.0 Million in Talisay City, Cebu, Philippines, Floor Area 46 aq. m. Lot 66 – 88 Sq. M.

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Camella Homes Subdivision in Talisay the Main Gate.

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If you are interested in buying a home in the Cebu area just email me your contact info and I will forward it over to a very efficient team of Real Estate Agent and Broker then they will make arrangements with you to see the properties. If you buy a home, I get 1% fee of the sale price just for referring you. Your contact info is safe with me I will never sell it to a list or share it in any way.

Charles_Harman@rocketmail.com

SUN CELL: 0-923-908-9375

529-1412 (From Cebu)

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Camella Talisay Clubhouse and Olympic sized Pool

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Carmela Model Home 2.7 Million 3 bedroom, 2 baths, with or without carport. Carports run 100,000 Pesos. This is what our house will look like when finished.

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Below are a series of photos of our dream mountain  home Talisay City Philippines.  Should be ready by March of 2013. Our lot is Azienda Genova Blook 004 Lot 010  Talisay City, Cebu, Philippines.

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This is our street and our house will be above the hill where it is level ground.

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Camella Homes in Talisay City

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This is the view of Talisay and the ocean we have from up here on this mountain.

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One more example of the Carmela Model home for 2.7 Million.

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Azienda Genova Lot Map

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NOTE 1:

One note about home construction in the Philippines. They do not use sheetrock here, the walls are constructed with something called hollow blocks shown below, a kind like cinder block like what is ueed in he United States. These hollow blocks are only about 8 inches wide. They lay down a layer of concrete called a footing, then one layer of blocks filled with concrete, hen another layer when it gets about 3 deep they insert re-bar straight down through the middle of the hollow blocks and concrete, then continue building the wall. When the wall is done several layers of morter are added to the exterior and interior surface to achieve a smooth surface that can be painted. Nearly all wall construction in the Philippines is done like this including the above homes.

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Hollow Blocks

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Notice the re-bar next to the hollow blocks the president is laying.

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You can see the hollow block going into that new home, with a skeleton of solid concrete posts, you can literally kick these walls and not hurt them.

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NOTE 2

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There are many different subdivisions in Cebu with many different styles of homes. If you need a one story home, they are available. I am currently working with advertising for three different organizations in he Cebu area. Consider the following.

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Bayswater-Subdivision-Cebu

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Ajoya-Subdivision

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Brookfield-Subdivision House 1

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Brookfield Subdivision House 2

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East Covina Subdivision Located in Paknaan Mandaue

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Royale Cebu Subdivision Click to enlarge

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Contact me if you are interested in looking at any of these homes. Charles_Harman@rocketmail.com

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One comment

  1. I am retiring to the Philippines and getting Married in April 2013. My future wife and I would like to live in Cebu. I have my Air Force Pension (3600) a month to live on. I’m looking for a 2/3 bedroom room place to move into Mid April – 1 May. Do they have furnished places also? I will be in Surigao on 24 March and will get married on 9 April. We will take our honeymoon there in Cebu and would love to see some places then. Any help u can provide would be greatly appreciated.

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