buying your lot part 2

[CBM]

I won't buy land in the Philippines. For one thing, foreigners can't own land - yes, there are "cunning schemes" but remember that the legal system can always be bought, so no legal document can be relied on.

Kay rents a place in a gated subdivision (a Camella Homes development) for P5K a month. The same house would cost P2M to buy. The maths is pretty simple...am I going to live to 90?

As the youngest child Kay will inherit her parents' place anyway.

My ex wife has the house I built for her in her home town - her mother and brother live there, but they don't maintain it and she keeps the deeds lodged with her UK solicitor because her mother once mortgaged the house and I had to get it back from the bank for her.

[fred]

I won't buy land in the Philippines. For one thing, foreigners can't own land - yes, there are "cunning schemes" but remember that the legal system can always be bought, so no legal document can be relied on.

Kay rents a place in a gated subdivision (a Camella Homes development) for P5K a month. The same house would cost P2M to buy. The maths is pretty simple...am I going to live to 90?

As the youngest child Kay will inherit her parents' place anyway.

My ex wife has the house I built for her in her home town - her mother and brother live there, but they don't maintain it and she keeps the deeds lodged with her UK solicitor because her mother once mortgaged the house and I had to get it back from the bank for her.

Yeah renting is OK initially but not something that interests me long term. I want to live in a place that Im not afraid to maintain and constantly improve myself.. No way would I do all of that and then be given 3 months notice by the landlord!!
I just had to help a yank move house in that situation 2 months back.. They were really happy in their rented bungalow for 3 years...He spent 50k on a beautiful native kubo and had planted the whole garden with plants bushes and trees..He was really pissed off...I could tell.
Big mistake!!
Make the place too nice and they either want to put up the rent or lease it to someone else!!
Not for me long term..No way!

Good advice Fred. You're the man.

Yeah, but you`re the main man Graham!!

[grahamw48]

Make the place too nice and they either want to put up the rent or lease it to someone else!!

Absolutely right....my experience also.

[Ladybug_sim]

Yeah renting is OK initially but not something that interests me long term. I want to live in a place that Im not afraid to maintain and constantly improve myself.. No way would I do all of that and then be given 3 months notice by the landlord!!
I just had to help a yank move house in that situation 2 months back.. They were really happy in their rented bungalow for 3 years...He spent 50k on a beautiful native kubo and had planted the whole garden with plants bushes and trees..He was really pissed off...I could tell.
Big mistake!!
Make the place too nice and they either want to put up the rent or lease it to someone else!!
Not for me long term..No way!