House sales in Iloilo, Philippines. Is purchasing or renting a condo right for you?

We talk about the Megaworld area and tour a condo. We briefly discuss some things to think about when looking at purchasing or renting a condominium in Iloilo, the Philippines, or anywhere.
#condophilippines #expat #iloilo #philippines #vagabond #nomad
Nothing in my videos is financial advice. All information, opinions and suggestions are for education and entertainment only.
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[@KATHERINE-so5di]

Better to build a small house with small patio in the middle of the farm but close to the highway road with only few neighbors 😄.. peaceful life👍

[@expatlifestyle2000]

Very true!

[@alanhughes1262]

With those roosters next door drive ya nuts and a foreigner cant own land so if ya wife g/f takes off its gone then she moves her family into your house you don't own , ok if your pinoy .These are for foreigner's who want control of their investment.dont rent it as a foreigner live in it because you will be taxed twice if you live in Australia its double tax .if you have 100,000 cash in the bank ya get 5 000 interest a year that's 6 months rent in a condo and no risk ,do ya homework if you live in Australia and earn 10000 in rent after tax you will be losing out .if ya don't like the atmosphere you can move out rent up the road .like screaming kids in the pool or playground etc noisy next-door .

[@KATHERINE-so5di]

@@alanhughes1262 you'll get use to it if you worried about the roosters🤣. About the house you can build a Nipa house which is cheaper ..now, if your wife or Gf dumped you , atleast you know it's only a crap house give it to her! Lol

[@humorouz007]

Totally agree

[@stephenr2195]

To each their own, my wife told me any chance of her seeing mud/putik was a no go.

[@Ryan-wi3ry]

That’s kinda crazy. It comes with the tile and the ceiling that’s semi furnished hahaha 😝. All you have to buy is everything hahaha what!? Dude I told you, you can find fully furnished condos there in Iloilo for 3 to 4 million pesos with amenities and low hoa fees.

[@expatlifestyle2000]

Even the shelving wasn't included. Lol I'm not settling anywhere. :😀

[@RJT80]

It's really bizarre how they view furnished and partially furnished in the Philippines. That place is almost $200k. You could build and furnish a 2 story 4 bedroom house with a backyard a pool for significantly less. Then the HOA fees. Never doing that again. HOAs are a nightmare.

[@JaredGillespie]

I've heard some things about Iloilo. Mostly good 👍

[@expatlifestyle2000]

I like it.

[@RJT80]

That maids quarters is actually the Tampo room.

[@expatlifestyle2000]

🤣 😂

[@coolasiandud3]

you seemed very knowledgeable about finance/investing. whats your background. I love watching finance/investing videos. more vids about finance/investing please.

[@expatlifestyle2000]

It's just a lifelong interest of mine. I'll think about what vids I can do with that in mind.

[@RJT80]

One of my fathers best friends told me once I got my first job back in 1996 to put $20/week in a high interest savings account and not to touch it for 20 years. Wasn't quite 20 years but when I did use it a few years ago it was enough for a 30% down payment on my house in the US. Many middle class retired guys could live in the Philippines off annual interest from a US bank account. Maybe even a Filipino savings account but I think they only guarantee $50k should the bank fold, etc. Still the safest investment.

[@DirectCurrent4u]

Really good information to know! I really like Iloilo a lot but I could never live in a Condo! Condos are like living in a jail cell with no privacy at all. Being surrounded by neighbors with only a few inches between you is just not my style of living at all. For a cheap as it is to live in the Philippines I just prefer to build Rent, or buy a house outside of the city. Just my humble opinion. For that price, the least they could do is throw in the shelves! 👍

[@expatlifestyle2000]

Thank you and Agreed. Luckily the vacancy rate is high where I live now so I have very few neighbors. That and I have a corner apartment next to the stairwell so The only noise even possible were from above and below. I rarely heard any noise and absolutely none at night. I do like having a pool and gym in the building that someone else maintains.

[@jonathancbc]

I don't get the investment math. Purchase + furnishings about $200,000, and annual income if rented 10 months @ $500 per month, less expenses, taxes, management retnal, and condo fees. Imposible to cover costs plus any return. Makes more sense if this is going to be someone's actual home and the value is control of their personal living space with property appreciation upside.

[@expatlifestyle2000]

Seems like you got the investment math perfect. Its just not you who profits. 🤣

[@VanessaThePinayWanderer20]

Buying a condo isn't practical. It's much better to buy a land and build your own house but for you as foreigner you can't buy a land here only condo.

[@expatlifestyle2000]

Agreed. I'm a renter for a long time I think.

[@stephenr2195]

It depends on your wants and needs, we bought a condo because we leave for months. Having a house would not be practical for us, just too much to stay on top of. Per sqm a condo will cost more than a house but the benefits were worth it for us.

[@stephenr2195]

It depends on your wants and needs, we bought a condo because we leave for months. Having a house would not be practical for us, just too much to stay on top of. Per sqm a condo will cost more than a house but the benefits were worth it for us.

[@nefertarri]

Ohh I am going to stay in there hotel in megaworld next week Tuesday, in one Madisons .. my first time be there.. Thank you for sharing!

[@expatlifestyle2000]

Its a nice condo, enjoy. Thank you for commenting. 😀

[@nefertarri]

You're welcome, I am native Ilongga​.. @@expatlifestyle2000.. Gobld bless ! ☺️

[@roymoletajr.4209]

New subscriber here🙂👋🏻 Ilonggo fr TW🇹🇼

[@expatlifestyle2000]

Thank you and welcome.

[@legenjerry368]

I’d rather put my money on the PS 500 stock.

[@expatlifestyle2000]

Oddly enough I just had another expat tell me the rental price of these places have raised quite a bit. I'll stay with my stocks too but who knows what the future will bring.

[@arcade-o8816]

Is there monthly condo rentals without a contract? Like if i want to just stay a month or two at Iloilo? 11 million seems high for such a small space. I think max if i ever bought a condo would be 3million if there is one at that price. Even then i dont think the ROI is worth it, condos are just a bad investment overall. There are just too many of them and eventually will be outdated. You also cant pass it down to your grandkids like a house & lot as it will get demolished eventually.

[@expatlifestyle2000]

month to month just costs a little more. There are plently of daily, monthly, and annual rentals. Not for me either. I'll rent until i plant roots and then it still has to be a good investment.

[@expatlifestyle2000]

You are also dead on. If you dont own the land you dont own the structure imo.

[@Ryan-wi3ry]

I don’t think of a condo that comes with cabinets and countertops in the kitchen semi furnished. Haha good to know 😂

[@expatlifestyle2000]

I'm glad I asked. 😊 so wild.

[@tomoneill9301]

Is there a good gym there?

[@expatlifestyle2000]

Most of the condos have a small basic gym with varying levels of equipment. There is also a gym in megaworld with many cardio style classes.

[@tomoneill9301]

Thank you

[@johnamacio4905]

11 million 🤯😅

[@expatlifestyle2000]

Why not 100 million? 🤣

[@loveaklan7012]

iloilo one of the best tourist spot? thats a LIE if one of the best it should be in top 5 or 10 in the Philippines and im sure its not hahahahahahaha

[@expatlifestyle2000]

It's one of my favorite cities to live so far tbh. I don't think of it as a tourist city though....

[@loveaklan7012]

yeap i like iloilo i live there for 4 years but when the girl said one of the best tourist spot it made me LOL. shes lying to foreigners to much hahahahaha

[@expatlifestyle2000]

@@loveaklan7012 she really wanted to sell some condos. 😄