What is the best way to buy a house or Condo?

January 13, 2009 10:33am CST
Ive looked at property in Cebu and it seems to be excessively overpriced by realtors and agents. Whats the best way to buy property?
4 responses
@cathya (704)
• Philippines
14 Jan 09
hi mattwilkie, thanks for being here in our country... :) i'd like to suggest to you that if you want to buy a property here in our country, first to the canvassing first so you have a lot of comparison with regards to price and quality,then choose the best for you ; second if you could go directly to the companies better to go there and don't deal with the agents or fixers as they call it; lastly, i hate to say this but any ways, don't trust anyone easily, okey. i hope you know what i mean LOL
14 Jan 09
Hi Cathya thanks for your reply. I think your right about going direct. Might have to take a couple of days driving around to see whats available.
14 Jan 09
Thanks will do.. my big other question is how many Pinoys and Pinays actually live in Condos? Or is it mainly Koreans and other foreign nationals.
@cathya (704)
• Philippines
14 Jan 09
that would be a great decision mattwilkie, take time to look around then choose. good luck! :)
• Philippines
15 Jan 09
i think that first thing you should consider is where do you want to live - in the city or away from the city. most foreigners, especially westerners, like to buy a house near the beach. especially if they came here for retirement. while most of the koreans here buy condos. they prefer to live in the city because most of them are here to learn english.
17 Jan 09
The condos are for investment to rent out. But im not sure if the prices will drop with the current recession thats going on.
• Philippines
19 Jan 09
my husband who's in the construction industry says that property rates will drop until 2010.
@rainmark (4302)
15 Jan 09
for me i think the best way to buy is house atleast you can have a space for your gardening and playground for kids at the back garden and also it's much cheaper compare to condo coz some condo units are over priced specially in city center.
17 Jan 09
Your right about the pricing and space. But im looking to rent them out. We already have land outside the city and rent a place pretty cheap. But im looking to get Condos to rent them out but ive noticed the pricing is currently like you said overpriced.. i think my term would be well overpriced. Not only that there are too many of them being built. With the current recession maybe some good deals will come onto the market.
• Philippines
13 Jan 09
Hmmm ... I am not so familiar with Cebu properties but you can usually get a good deal with properties that are pre-sold .. meaning they are still being developed ... just make sure you get a reputable developer
14 Jan 09
Hi natsvelascotan, The only worry I have is if they go bankrupt and i could lose my money if i buy off plan. Also ive heard sometimes planning permission isnt granted so a lot of condos never get above the 4th level.