Greg/Wilma, I’ve watched all your vids but haven’t left a comment until now. You do a great job providing interesting, objective information in a way that’s useful and user-friendly. You’re great people, who’ve learned a lot through life experience (and continue learning more every day!). It’s a pleasure watching your journey. Hope to meet you some day. P.S. considering the macro-level picture (since the Philippines is largely dependent on developed countries’ economic trends which greatly affect import prices, the peso, etc) I agree with you about not only how much prices have increased the past two years….but why. One of the main factors has been world-wide national (e.g., US, EU central bank) interest rate increases, which will finally go down in the near future due to falling inflationary pressures. That should stabilize land/construction/etc prices very soon, as you correctly predicted, and result in much more moderate increases the next several years (more similar to pre-pandemic trends). On behalf of us all looking in from afar, thanks! 🙏
the house is spacious and tall ceilings all worth it , 2 baths 2 kitchens . technology , Greg and Wilma are very organized and excellent managers and hard working hands on too. Really great quality of life at home . and very modest build too. and they have been great neighbors , providing work for the labor workers, this looked very organized build on the videos , Time is worth more than money after 60 years old , You are settled in completed the project . other expats may make the choice to live in condo units . Greg and Wilma have the comfortable private life with a private pool. the primo sweet spot. took alot of work and patience , imagine a build that does not go well or get as complete theirs, buying a condo or rent is an option And i do enjoy to visit Greg and Wilma on the videos , such humble , smart and caring people , glad to see them very healthy and happy
Thanks Rory for the nice comment. Everyone's an individual and we do take different paths. We are pleased with our approach and accomplishment. Simple, quiet life is what we are striving for. Take care.
Currently having a house built in Oton,Iloilo. Lot size is 200sqm, 130sqm home size, 2 bedroom 2 1/2 bath , bungalow style with high ceiling for a total of $65k. The lot was already bought by my parent back in early 2000 but never had built a house on it which they will transfer the lot to my name. Only thing I don't like is that it has HOA...which I despise, but can't complain since I'm getting the lot for nothing. Hopefully they picked a good company to get the job done right.
I appreciate you and Wilma because you guys seem to be down to earth and your videos are relevant to what we’ll be doing in the future. I especially appreciate you sharing your trial and error as it will probably save me down the line. Of course, as you said, do your own research and watch several different people and what they did as well. That’s what I do because, as you know, what works for you might not work for me or what didn’t work for you might just work for me. Fortunately for us, most of our land in the Philippines was purchased 10+ years ago. If we had to buy the land now, we wouldn’t be able to afford it. Land in the Philippines is becoming like land in Hawaii, most of the locals won’t be able to afford to buy land there at some point.
Exchange rate is a major factor. Bearing in mind that most house builds will be funded by money that is transferred from overseas I see this as making a big difference.
Great job Greg/Wilma, we appreciate all your work and efforts, well done. My timeline looks to be about two years from now to come that way. Although I could retire (62) now, its probably gonna take a while to get all the stars in order........ Maybe costs will level out soon. .... See ya soon.
HI 👋 2! Thanks for the update on $$$! Time flys from when you first started your build vides to today👍. Glad you’re enjoying your retirement 👍. Now back to your projects! BOK BOK ! Blessings 🙏🌸🌼🌺
I believe it's true in the region you are in. There is a limited amount of construction talent and a lot of foreigners pouring into that area. But if you look at the real data for the nation as a whole, construction costs went up 5.8% in 2022 and 2.5% in 2023.
It is absolutely untrue your information is right I don't trust data I based on contractors increase but what you have said is true . I build in the year 2018 based on my contractor who is a responsible person in 5 years it is at least between 50 to 70 % from price quoted on December 2017 where we signed the house contract of 4.5 M and we added solar 6kw hybrid 2 months ago of 360,000 Pesos 14 panels of 550 watts and LIFEPO4 battery of 15kwh. First month we save 90% of same bill last year in using more hours Aircon during the day Second month we are expecting to save 95% of same bill last year The remaining percentage was 4% Water Heater that could not be connected but planning to invest on Solar water heater .Some residual consumption is for the inverter 1% . Solar energy is the must I am able to run my Air-conditioned 3HP during the day in my living room plus 2.5 HP during 8 hours in the bedroom during night time . I would privilege the use of 1HP or 1.5HP Aircon inverter and even to add some units instead to use 2 or 3:HP These are my personal remarks and we have our personal well ( poso) with electric pump connected to solar as well booster pump and washing machines , refrigerator and other appliances Happy to connect to anyone .I am a resident since 1988 already 36 years and I am 72 years old very happy to be in The Philippines.
G'day Wilma and Greg, I'm new to your channel here, I like the way you two present it. And show many things of interest to me, about building a house / home in the Philippines. Can you tell me please if you are happy with your architect. And if yes, whom did you use? Did the architect come out to your site, why building? And did you use a contractor for building everything ? Again thanks for your informative channel. Regards. John
Hi John, thanks for finding our channel. Yes, our architect did a great job for us. He did send his staff to the build several times. We did use a contractor for our build.
We just finished two bungalows. 7 man crew done in 3 months. Steel, cement, sand, and gravel ALL went up in price during the build. Solar setup very similar to yours. NO WOOD, not even doors, l hate termites. No contractors on houses or solar. We are right at one million pesos all in on the builds, another million pesos on the land.
Hello Greg, Yes inflation is way up. To build a house like yours in Perth, would cost $600,000 . That pool over here would cost close to $100,000 or more. Australia is a very expensive country. If you went to a cafe in Perth, and you ordered a coffee and a slice of Cheese cake. It would cost you close to $50 for 2 people. Greg, I had a pool in my first house, and I swore I would never have one again. The wind is very strong here. You would clean the pool, and then during the night. I would here the wind, and all my work would be in vain. It was costing me $150 a month to maintain it. Not only that, my water bill would soar during the summer. As the water would evaporate during the day, and to top it up everyday would cost a fair bit. I had a cover. That cost me $500 and it lasted me for just a year. Then I thought of building a wide patio on top of the pool, and that was the best thing I did. The Sun loves the Chlorine. Doing that I saved on everything.. I also had a 100 mm hole at 2 places on top of the patio. So when it rained the water would go in the pool.
Yeah we just finished building in Leyte. We got quite lucky with our builder and his prices. Good quality work and very affordable. Not premium but not cheap and nasty and our house is nothing close to a mansions like some and still cost us $150k AUD. If we had the money 5 years earlier it would have cost us literally half but none the less… it still beats paying off my 500k mortgage here in Aus for the rest of my life for a house that doesn’t even look it. But I guess that’s the reality of voluntary slavery here in this country. Not what it once was!
@@thecastawaycouple We have just started in Sorsogon. We have a really good forman who I have known for three years at 950 per day, skilled worker at 700 and labourer at 500. There are 14 of them and they are head down and bum up. I’m thinking it’s going to cost about 30,000p per metre. I keep well away from suppliers and other contractors because the meerest hint of a foreigner markedly increases the price.
Amazing the land cost there now.Its now more expensive there than in the U.S.Yea there getting a taste of the strong sellers market it will flip hard soon. And buyers might be on top for a while.Greed always takes hold then regret when the buying stops.The whole world has priced the wage earners out.Thanks for educating us all on this interesting topic.
My wife and I are going to be building our home here in Leyte over the next couple of years. I will be doing most of the work with a couple of my wife's siblings. Not in a huge rush. 👍 I was amazed by your drought video, as we didn't experience anything like that here in eastern Leyte. I just found your channel. Looks like you have done a great job building your home.
Greetings,, where in Northern Luzon are you looking at? We built in Isabela, the house was structurally finished 3 years ago. Prices of materials have gone manic in the provinces. I'd hate to think what the house would cost today.
Great video as always. Thanks for the comparison from when you built your home to the more updated prices that we are seeing now. We purchased our lot 352 sq. meters in a gated community in Santa Rosa, Laguna for Php10,000.00. That same lot goes for Php40,000.00 per square meter. Hopefully everything will stabilize money wise by 2026 when we plan to build our retirement home. The two of you got a great deal on your lot and home. Good on you. Keep up the good work with your videos.
Guys I built a house here in Pampanga on the island of Luzon back in 2017. I learned very fast how to not trust a contractor..... You need to be there not part of the day but all day...yes they ok not all but most are scammers ..they try to cut corners and install poor quality materials. If ever building here listen to these guys. By the way im a long.time viewer keep up the great effort in both your honesty also staying out of the excuse me but the bullshit that's going on with all the BLA BLA keep up the awesome videos
It's good for many people to highlight and discuss their bad experiences with many businesses here. Thanks for sharing. Everyone needs to hear this before they start looking to build.
Greg, what I said in my comments was just an estimate. I would love to settle in Thailand, where everything is cheap. But foreigners cannot buy land. Now I think they have changed it a bit. Now they are giving you a 99 year lease. I know a lot of Americans are settling in Thailand. I recently saw a video. Where a couple from Holland sold everything in Amsterdam and settled in the Island of Koh Lanta. They bought a resort there, and are doing very well. Well I suppose it is luck. Wilma seems to be a very nice lady.
@mangoking787 Yes, I think there's many countries that offer a better cost of living. So many people taking a chance, and moving away from their home country. Appreciate the comment.
Thanks for that. Was the architect from Dumaguete? And did he use a structural engineer to design the steel strength of the house. Was the concrete already made and delivered to site. My wife has land down in Mindanao , but I'm not sure that I will build there. I need to tie up my affairs here in Melbourne first. Then I would like to explore the Philippines with her. We will see how we go. I'm just trying to get a better understanding of the costs and procedure that are done there. Thanks for your assistance. Regards John
Greg, starting in 2022 when everyone was hungry for work. So how much has labor gone up. Just starting building in Bohol. Labor is 400 peso Skilled 650 foreman 700 pesos a day.
Hi guys! We shook hands at Robnson’s mall, my build is half-done. We are changing contractors as the one we have is way too expensive, lesson learned. Good work but sooo expensive! Got a lot overlooking Apo island and a nice view of the mountains, near 1,000 square meters. Feel in love wih the area u neglected to throughly inspect the site- had to replace & add pillars for a future second floor. Warm regad, Ana & Evelyn.👍
As much as prices are rising, it will continue likely, with ups and downs... I've been lucky with real estate investments... Over time, they've all doubled or tripled in value over 25 years... So I look at this in that light... In any case, thanks for this breakdown. It is useful, not so much for the current build in Tarlac, but more for the next one that is a bigger and more complex project there... FWIW... Costs are going up in Dubai as well... We see it in every aspect of living... IMO... In The Philippines, the overall costs are still much cheaper than anywhere there (except for Manila maybe). Thanks! Enjoy your weekend you two! 👍😎👍
We'll be building in Pampanga, within the next few months. Hopefully between San Fernando and Angeles (Telabastagan?🤞), since my Step-Daughter will be attending St. Scholastica Academy in S.F.
Real estate is like saving money Growth stock is an investment $1500 in NVDA in 2005 is over 1 million today TSLA up 26 times in 3 years NIO 20 times in 3 years House is a place to live enjoy make memories
Wow those prices have really gone up a lot. Know it took you just over 6 months to build your home. How long did it take for the purchase of the lot take? Awesome, look forward to seeing "The Lives of the Filipina Wives"...lol Will have my Filipina wife sit down with me to watch! Thanks for your effort putting all these numbers together. Thank you, Wilma and Greg...Jim
It really has over the past 2 years. Once we found the lot, we moved quickly. One week for the lawyer and to receive the deed of sale. Seven months to process and receive the title.
I think you are spot on with inflation. Thankfully sand, gravel, cement and CHB haven't gone up otherwise building prices would have gone through the roof. On another note if you are a foreigner you can't own property so it has to be under the wife's name but on a morbid note what happens if she dies before you. Do you have to get out the house and if there no close relations who gets the house?
No, inheritance law goes downward if you have children. We do. Also, marriage needs to be registered with PSA, my name appears on deed of sale and title (shows intent of wife). No issues.
@kuyabaste6934 No real changes to our budget. We are quite frugal anyway. However, we are a bit more cautious about large expenditures. Great question.
I love this video, thanks for sharing the numbers Greg. It's a little scary seeing the increases but with real estate generally things keep going up so 2 years from now, it could be up even more and we'd be wishing for 2024 prices, lol. That's just life. You guys have said it before, but you definitely got really lucky coming out of the pandemic! So grateful for that! I believe in paying fair prices, today, and not worry about what the price used to be. It is what it is. Onwards and upwards! And I'm hoping to break ground on my own build later this year down the road from ya 😊
@kevinsoundmixer That's are great line, "onward and upward". You already bought the land, so that's a huge part of the entire build. Can't wait to see it built.
Check your Pool math, Greg. From $14k to $21K is a 50% increase, not 33%. I think you confused the increase of $7K being 1/3 (33%) of, and the original $14K being 2/3 (67%) of the NEW $21K (100%) cost, but the INCREASE from 14 to 21 is a 50% increase.
Rent here has 2x -2.5x From 2020 to now 1 bedroom apartments are 2000$+ a month now and thats in pine bush. Electricity has almost 3x from 2020 to now Food is INSANE in 2020 it was 200-250$ a month and now its around 900$ 12,000$ - 15,000$ more per year to live exactly the same as 2020. (The average family)
That’s why the best time to build is, now. The interest you get on your savings will never be as big as the percentage of inflation rate. Transition period wise, that’s interesting topic 😅. I can just laugh about it now. My personal experience was a nightmare. That is why to verify twice is not enough “for me” Greg 😅maybe 5x ? And also make sure you verify it with the right people 😅 Ellen
Great video Greg. My wife and I are about 2 years out from retirement so this information is quite useful! As far as your channel data is concerned, I'm noticing something strange each time I watch one of your videos. For one your subscribers total never changes for some reason and I have to constantly resubscribe to your channel. Not sure why we're having to do that. Your channel still shows up on my recommended list but sometimes I'm kicked off your channels subscription. Weird.
First thing I could say is that you’re probably comparing what the cost to build a house in an area that is practically all expats with money and contractors who know that. I’ve done tons of research, and when I watched your video of your house build price for $150 thousand I was a bit surprised that it was as high as it was. Expat area’s are much higher cost. I know an area in Luzon in a gated community where 750 sqmtr lots are a hundred grand. Ridiculous. But still, a much lower cost than where I’m from.
I think you should add the cost of your time into the project as most people will not have the knowledge or skills to build on their own. That is a cost someone has to pay
Correct, if sold it would probably be a foreigner. Wise to keep build cost down as well. That was part of what I was trying to say. Build a million dollar home, probably won't be able to sell it.
@buildingthephilippines If im going to invest a Million or more building my house in the Philippines, putting it up for sale would never happen. Thats why I build it for me, not for sale.
have you done any research or price comparisons on how much cheaper it would be not using a "company" to build your house versus you being the foreman-contractor-material buyer ? i know that was not a viable option for you but maybe you have friends that are more hands on and did it themself with helpers or a crew.. another great video . thanks
No, quite the opposite. Foriegners especially look for pools. Owning or renting. Most condos, townhouses all have a community pool. Almost all western style homes have them.
It would be nice to find out how you moved money from your US bank into the Philippines in order to pay for it. I was told there is a limit to the amount you can wire transfer per month or say. Not sure how that works.
@@scottv3337 Assuming your spouse is Filipino, just wire it to a Filipino bank account. Ask the the Filipino bank for a SWIFT code then call your stateside bank for a wire. I've wired over 1 million pesos before.
Hello greg.and wilma I bought the land last year overlooking in the ocean and I need a contractor and architect need your help I'm selling my house here in kansas once I sell it I leave right away hope you guys can recommend me a good and honest contractor thank you for all the info here I appreciate you guys thanks again if you guys can help me. I will be building in San jose close to dumaguete.
We watch regularly still. I think the land price may be much more expensive in the Dauin area. There seems to be many very large homes now being built here.
