Moving dilemma

[SimonH]

I'm sure Steve has posted on this subject before, but we're all in slightly different circumstances so I thought I'd throw my thoughts out to anyone who can give their opinions.
Again, as per my usual posts I'll type as I think so excuse me if I bounce about a bit. For ease of reading I'll just put done some bullet points and any pro's and cons I can think of.

Ok, here goes....


I have a house here and one in Angeles, both mortgaged although not large amounts.

I have a daughter who'll be 2 in June, so need to start thinking about her education.

Options....

Stay here and just spend the school holidays in Angeles, say 4 weeks over Christmas.

Rent my place out here and move there to see how it goes for a year or 2.

Sell here..... now this is where the dilemmas come in

Selling here will enable me to pay off all mortgages, buy another plot next to our house in Angeles, build on it and extend our current property. This will also generate an income from short term rentals on the new build. It will also leave enough money for a new car and plenty in the bank to live modestly for many years to come.
Now the big question... what if I sell and want to come back, can I afford to If the house prices keep going the way they are there's no way I'd get back into a house anywhere near what I have now, however if the housing market crashes then I would be in a very good position (again IF the worse was to happen I wanted to move back).

As far as work is concerned, I could in theory work from home in Angeles only coming back here to cover if someone wanted a few weeks holiday in the summer time here.

Any opinions or words of wisdom and experience would be greatly appreciated

[Michael Parnham]

Stay here, just visit Philippines whenever then daughters education no problem. Your home here will always make money long term so no worries there either

[Tawi2]

How domyou make a small fortune in the philippines?Start with a large one,UK has stability,do whats best for the child.

[SimonH]

How domyou make a small fortune in the philippines?Start with a large one,UK has stability,do whats best for the child.

Very valid points

If we were to move then Charleigh would be enrolled in a local international school which has an excellent reputation. In fact she'd probably have a better education there than we could provide for her here.

[SimonH]

Stay here, just visit Philippines whenever then daughters education no problem. Your home here will always make money long term so no worries there either

Thanks Michael.

That's the thing though, we can give her a good education there. The other thing is she'll have lots of family there, I have next to none here, just my father who lives over 200 miles away.
Now from a personal point of view I'm not really bothered about having lots of family around (I came from a very small family), but I do appreciate the Filipino family values and often wonder if I'm being selfish by denying her something that doesn't really bother me
Another dilemma

[Michael Parnham]

Tricky

[Longweekend]

Don't think I could take Angeles full time....

[SimonH]

Don't think I could take Angeles full time....

All down to perspective really, I quite like it even though it does have the reputation of the sin city of the Philippines. You could say the same about London, Bangkok or even Amsterdam

Lots of development going on in Clark.
Good road and air links to anywhere we want to go for trips away.
Expat community.
Good medical facilities.

It's not all Walking Street and girlie bars

[grahamw48]

It's a 'place' where I've already been... and very similar circumstances.

By all means take your family to the Phils for a year or two... or five.

The biggest mistakes in my life have involved selling properties in the UK (on two occasions), when going to the Philippines for extended stays.

DON'T DO IT !

I would likely be around half a million pounds up now if I'd given it some more thought.

[SimonH]

It's a 'place' where I've already been... and very similar circumstances.

By all means take your family to the Phils for a year or two... or five.

The biggest mistakes in my life have involved selling properties in the UK (on two occasions), when going to the Philippines for extended stays.

DON'T DO IT !

I would likely be around half a million pounds up now if I'd given it some more thought.

Thanks Graham, that's the sort of thing I was looking for

The figures you're talking about are almost what I'd have left after liquidating. The alternative is to rent my property here but that wouldn't give me the capital for the extra building I want to do, that can always wait a year or so though

[stevewool]

It's a tough one Simon,
I think you know the answer but like me you just want to make sure you have thought about Everything.
Rent your place out here first, if you can get a good price by doing that , I would do that for a year or so, and by then you would know if the Phil's is where your heart is, if it's not ,then just move back here,
Lots to think about but sometimes we think to much about it too,
Good luck its hard I have changed my mind many many times already, yes we are still going to make the move but I try not to think about it to much now,just keep putting the money away, plus our house is being rented out at first ,just in case

[SimonH]

It's a tough one Simon,
I think you know the answer but like me you just want to make sure you have thought about Everything.
Rent your place out here first, if you can get a good price by doing that , I would do that for a year or so, and by then you would know if the Phil's is where your heart is, if it's not ,then just move back here,
Lots to think about but sometimes we think to much about it too,
Good luck its hard I have changed my mind many many times already, yes we are still going to make the move but I try not to think about it to much now,just keep putting the money away, plus our house is being rented out at first ,just in case

Cheers Steve

I know that's the sensible option, but I've always been an all or nothing type of person

Fortunately, or luckily, definitely not skilfully I've always come out on top when it's come to property and work.

Sat at my desk at work, thinking what the am I doing here To be honest with myself I'm just going through the motions, I've got no inclination to get any more business through the door as I'd much rather be at home with Shey and Charleigh. Even typing that I'm imagining 'at home' being there and not here.

As you quite correctly say, maybe I'm over thinking things

[grahamw48]

Perhaps consider borrowing a bit against your present house to finance your project in the Phils (or sell a vehicle ?). That way you'll still have your main asset intact, and can perhaps just increase the rent charged to cover the extra mortgage. Seems to be a pretty buoyant rental market down your way.

[stevewool]

Perhaps consider borrowing a bit against your present house to finance your project in the Phils (or sell a vehicle ?). That way you'll still have your main asset intact, and can perhaps just increase the rent charged to cover the extra mortgage. Seems to be a pretty buoyant rental market down your way.

Great advice coming your way Simon

[jonnijon]

Rent your house in the UK, come here for a couple of years, do not buy a car for a while, public transport here is very cheap, start your build with your rental money, do not give money up front to any contractor. Over here you can stop and start building as money is available. Just be sure to supervise the standard of building work. I think Fred is the best guy to talk to, he is a veteran at what you want to do.

[fred]

Simon..I think much of the advice given thus far is good and wise!!!
Try living here for 2/3 years whilst the kids are young.. Find out how much you really want to live here before selling your house and investing your nest egg.. I think your business plan has merit though..Especially in Angeles..Lots of potential there for a very nice % return...
No rush.
Anything more specific...Send me a PM..
Cheers,
Fred.