❇️ I bought a 60sq m condo in October 2017 🤗 now in 2023 my condo is worth about double ❇️ it’s my home base in Asia ✅ leaving my clothes etc… and travel with only handcarry bags 💼 Philippines 🇵🇭 is a great base for foreigners ❇️
Curious as to what location did you choose. Did you find it’s okay to leave your unit vacant? I heard things degrade really fast because of humidity if you do not leave the AC. Thinking about buying a condo over there as a secondary home.
Excellent info. and keep rolling. I totally agree with you buying a new construction VS an old one is the way to go. I invest in RE in the US and I buy new and telling my colleagues to do the same but instead buy an old ones because of its history. I told them you're that buying a house is a form of investment because of the appreciation not because of the depreciation cost of the building turning into a museum. Now they are telling me that they have to spent much dollars to repair faucets, the AC etc. They ended up spending more money than buying a new house. Not a good idea! People has to think being an investor rather than involving and considering the historic value of the old dilapidated house. I agree with you, Philippines is an excellent hub in Asia because of its strategic location. I will be doing the same in the near future.
Thanks for sharing your experience and insights! Yeah, I hear you, if a house is too run down and old, it may not be worth it since you'll have to spend so much on upgrades. In some neighborhoods, new construction is much more expensive but for whatever the reason, out here in 🇵🇭 the price gap isn't usually too large. Maybe things have changed lately but I know when I was shopping around 4 years ago, it was a no brainer to go new construction. All the best!
It’s the same in the US though. They used builder-grade materials for all new builds in the US. If you want something with more quality-it’s extra. All those extras add up to your mortgage payments. Better stick with the builder grade cabinets and upgrade later when you have the money.
Nice Video - BGC Title deeds just takes patience- our turnover was 2019 and the title deeds showed up in June 2022. To be fair Covid was an issue but still very slow. Our advice is just be patient- there is a process that seems like it can’t be hurried up
0:46 2017? Damn, that was long time ago haha 😂👌 all I can remember was me doing homework and learning about the Marawi Crisis haha 😂. AFP is Pinoy Pride 💪😎👌
Hi there! As a fellow engineer in semicon/tech, you got me curious. Are you in early retirement (FIRE) already? If so, I'd be curious to hear more about your financial journey, especially w.r.t. doing an expat lifestyle. Perhaps a video on it 😉 (unless you already have one)
Hey there to a fellow engineer! 👋 In regards to FIRE, that's a topic I used to write about and focus on way more in my 20s. These days, I'd say I'm a full-time vlogger and trying to figure out if we can make a career out of that. Sure, in regards to my own journey and lifestyle, I can post more content on this in the future. FIRE is an awesome goal and very much something worth aspiring for. You sound like you're definitely on the right path there. All the best! 🍻
We bought into a fairly large Cebu condo development and we are still waiting for the title. We are working on it sir, whenever we ask. We paid cash, so the developer has had our money for 4 years! Unhappy about that.
Oh wow, sorry to hear that! It's crazy that it can take so long to transfer a title when it only takes a few months at most in other countries... All the best to you sir!
I started watching your vlog about 1 month ago. You sure have grown in the last month. I'm a newly retired Asian American woman considering a move or partial year move to the PI. Are there many American retirees in BGC? What is an average square meter price in BGC for 1-2 b condo? How did you & Jenny meet, & how long ago. Looking forward to your future content & watching your channel grow😊
Yup, there's a lot of foreigners living in BGC and we've come across a few retirees, so I'm sure there's many more. For BGC, I believe the smallest unit size for a studio is like 36-37 square meters, so for a 1 bedroom probably something larger than that, around 50 square meters is common. For 2 bedrooms, this can vary a lot, but I've seen a lot in the range of 70-100 square meters. You can always find larger if you go with some of the more high-end developers and projects. In regards to how Jenny and I met, yup, we get asked that a lot, and we'll release a vlog on that soon. Cheers! ❤
Yup that hollow part 😂 I looked at so many model and turnover homes and would knock on the walls 😂 They were all hollow! Also didn’t like the Pinoy style design with small kitchen, small bedrooms, too many partitions etc. I could tell all the cheap materials they used all over the house. I decided to just buy an empty lot. I designed it myself however I had to follow the developer for all the rules ie setbacks and open style garage. I couldn’t have an American style garage 😂 I designed the 1st floor with an open concept/layout just like in the States. I have my walk-in closet and all cabinets especially custom made. It’s more expensive but all worth it at the end. I have a quick access only 30 to 45 minutes to NAIA and Manila using Cavitex and Skyway. I would be able to take CALAX soon to go South. I’m excited to see the Evo City (Ayala), Megaworld and Federal Land on going constructions/projects right now. I just saw a video that there’s an SM Mall here in Cavite supposedly bigger than MOA. In a few years I don’t have to drive to Manila anymore. We will have everything here. Retirement living in the Philippines ❤️
Thank you so much for that detailed comment and background story! I really appreciate you taking the time out to write all that and I'm sure it's helpful to a lot of people. It's definitely something worth considering b/c these new construction condos aren't cheap at all... and they're not for everyone. The quality of materials, craftsmanship, etc. are super important and in many cases, it can be much more worthwhile to design it yourself and build from scratch. For me, for starters, I'm not allowed to own land as a foreigner, and I prefer city life, so that pretty much already limited my options... that and I don't want to drive 😂😂😂 but for sure, I love hearing stories about people who built their own dream houses and have everything they ever wanted. So, cheers to you and awesome work you did there 👏👏 Hope you're enjoying your retirement life in the Philz immensely! 🤩
That's why I have reservation buying condo in Manila . I saw some that were supposed to be five years old or just turned over but thy are already showing their age.
The walls are hollow because Filipinos do not use insulation between the inside and outside walls. Don’t know why. Could it be the humidity? The Philippines do not experience extreme fluctuations in weather like in North America. It’s usually warm, hot, and hotter.
Got a relative who bought a Makati condo, The Residence, n nobody renting it for 2 yrs. Now, they planned to sell them. Was told u hv to pay 6% for transfer tax to the BIR Excited at first to buy, but lots of problem n expenses once u buy Pinas condo
Could you do a video about the actual process and costs? Who is your realtor, who is your attorney, all the little details would be really helpful. Thank you. Glad you are happy there. I'm still in Silicon Valley 🙂 Your old stomping ground.
U did not mention what developer you bought your condo from, but it same like, it’s Megaworld in Uptown Bonefacio, I’m connected with Megaworld now for 14 years, I have very satisfied clients to purchase a condo in Uptown Bonefacio, #IAmMegaworldAbePagtama, watching from Beaumont CA USA.
Yup, that's right. Wow, 14 years, congrats to you sir on an amazing career. So glad to hear you have many satisfied clients. Cheers to you out in Cali!
Mr. Pagtama, I beg to disagree with you 100%. You were my agent. You convinced me to buy the unit OUR 10L SW. I paid the condo in full in 2017, up to now I am still waiting for the title. The whole situation sucks. I have so much regret. Al Bandong
I bought lots of Condos in Makati snd BGC ..Never had a ptoblem .I was Scammed in my Condos in Bangkok Thailand.. No to Thailand 😭😭🇹🇭 YES TO Philippines 😆😆🇵🇭
I just want to echo the queries of some of your Commenters here. Where did u and ur partner met ?Furthermore, are you one of those lucky guys who decided to retire young due to being financially indep alteady? We are just curious and little nosy as we follow your vlogs . Thanks in advance.
Thanks for the interest. We'll share our story soon enough 🤗 In regards to luck, yeah it definitely takes a lot of luck and in many cases I was in the right place at the right time. I worked in high tech in Silicon Valley for 10 years and that made everything possible. My parents were refugees from Vietnam, so what are the odds of that happening? Cheers!
I received the Title of my first Condo almost 4 agonizing yrs after i paid it in full. It took a toll on my health . I kept calling the Developer’s office literally every month as they were just giving me the run around and this was even on pre pandemic era.i shelled out over $1 k of phone bills calling them from the US. Im still waiting for the Title of my second one , but just paid it this past Dec.In optimistic though that ill receive it this yr as I bumped into another buyer at Dev office. She told me her Title was released in less than a year. So,it possibly differ from one Dev to another… True , it took less than 2 wks ,when i received the Title for my house here in the US.
Oh wow, that's so crazy! 4 years 🤯🤯🤯🤯 I think even 1 year is way too long and I really don't know why the process is ownership transfer is so slow... In any case, I'm glad you were able to get that sorted out and good luck on your second one! 🙌
@@wahoowahoo2341 you seem to know me personally ,but youre wrong !Its a common complaint among foreign and local Homeowners. we did inquire other Homeowners in our Condo about their Titles.They had the same dilemma we have endured .It was not just us . Its likely you one of those indolent Developers staff ,who are making life miserable for Homeowners ,due to ENVY ,since they cannot afford to buy one for themselves !
I bought my Studio Flat Condo in Taguig, Metro Manila in 2017 (April) And the price is worth about double (more)...I had it because every time I come home I usually arrived in the Philippines at awkward hours of the day... (not a good time) because I want to go home straightaway to my main house in the province (countryside home in Pangasinan)...so I decided to get a place to stay for a short time before going to Pangasinan & it's easy for me to have a place to rest for a while before flying back to the UK, England....It's like an investment as well.
DMCI seemed decent. One thing about their properties is that they are not really in the center of the action-more like adjacent-the periphery, which I don’t mind. You get a more local feel than touristy. One DMCI end-user railed against their elevators. Apparently they are always under maintenance. So if you live in a high rise condo, that’s actually a big problem. I heard that instead of using a known brand like Otis, they use their subsidiary company. That’s how they keep the cost down. I get my info on Reddit. I’m doing my research as I am planning to get a condo over there to use as a secondary home.
My loan from BDO. So if ten years I can't pay extra to pay it off early it would have penalty cuz for 10 years. Maybe this is a good topic for you next.
If you were happy with you experience with a particular real estate agent or developer sales agent, please share their info. I’m an SF Bay guy too considering a move to the Philippines. Been having a tough time finding and connecting with a reliable and prompt agent to look at condos.
Hey, that's awesome! Hello to you out in the Bay! 😊 Sure, for real estate contacts, we're always trying to grow our network and connect with more people. As of now, I can highly recommend miss Thea Ricalde of Megaworld for new condo projects: You can reach out to her via the following email: aricalde.megaworld@gmail.com Just let her know BGC Dreams sent you and good luck! 🤗
Degraded just in 10 years? Sounds like a pretty steep decline to have noticeable differences. 10 years shouldn't be that old. Bellagio Towers were also built by Megaworld I think same as Uptown. Hopefully, the Federal Land and Uptown properties in Uptown do not degrade that badly in 10 years.
Oh yeah, it's kinda sad sometimes to see how some condo units/projects can totally degrade so rapidly, even in a place like BGC. Yup, Bellagio is one of the first Megaworld towers in BGC and I would have to say the newer projects in Uptown are night & day difference in terms of quality of stock materials. The Federal Land projects like Grand Hyatt, The Seasons seem to be more high end and are aging a bit better. Well, The Seasons isn't even done yet but it looks really beautiful from the outside 🤩
Not to my knowledge. I think with new construction, all the VAT (taxes) are already included in the sales price they're offering you... but you can double check as it might vary from developer to developer. Cheers! 🍻
i think he said he was an engineer from silicon valley...and retired early, i dont blame him, companies in silicon valley pay their tech heads generously. basically he's a millionaire!
I bought two condos and never hired any Lawyer. Theyre not from BGC though. One i got the Title already , other one hopefully this yr. Im a Fil Am still working here in the US.
@BGCDreams Appreciate the reply. I learned a lot from your vlogs. You're a well-spoken person, Jay. I won't be surprised if you become a PI public servant/politician someday. More stressful than an ordinary job 😀.
No Los Angeles . Lots of crime , poverty , lots of homeless , tents everywhere , drugs , alcohol , killing , shooting , car chases almost everyday . Rather be living in bgc Philippines than living in big cities in USA or Europe . It’s much better safer too . Ty 😊😅😊
If BGC is too expensive for you, wait til you see what it costs to live in LA. rent or buying a home in CA is some of the highest in the US plus add the mandatory need for a car…
