Buying Land – Part 2

In America, they have a saying about the 3 most important factors, in buying Real Estate. They are: Location, Location, and Location.

When I was a kid, I remember hearing stories of people selling “great deals” in Florida. They would sell the land, sight unseen, to some unsuspecting northerner, who just wanted to go south for the winter. When the northerner got to Florida, they would find their “land” in the middle of a bug, snake, and alligator infested swamp. The land had little, or no value.

Buying land in the Philippines can be a lot like buying land in Florida used to be. You really need to visit the property before you seriously consider buying. If the land is on a remote island, the value will be much less than in Calbayog City. Some of the reasons for that are lack of services, and difficulty accessing the property. Many smaller islands don’t have medical facilities, running water, telephone service, or full time electricity. They are also remote, with usually only one ferry boat per day, going to a larger island. Because of a lack of opportunites, most people on the remote islands are also very poor. Hense, the land is cheaper.

Now you would think Calbayog should be cheaper than Manila, or Cebu, but that’s not always the case. My former neighbor, from Germany, just bought a house outside Manila. He bought a nicer house, for less money, than he could find here. I don’t really understand why this is so, but land on Samar is relatively expensive, with downtown Calbayog City being the worst. Once you leave the downtown area, the cost drops significantly, but is still expensive.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: