Moving around and getting a feel for the place! Part 2
Ok, so yesterday in part 1 of this 2 part series, I told you about how we have moved between a number of different locations in General Santos and Davao since living in the Philippines. I explained to you why I thought that renting was a good idea, and I also told you that in today’s 2nd part of the series I would explain how this has affected our thoughts about the future.
Through the things that we have learned by moving to different areas, we have found that we enjoy being close to town, near the places where we go to a lot. For example, I like to go swimming and to the gym at Marco Polo Hotel. I can walk there from my house in about 20 minutes or so, which I enjoy. We are also very close to the malls – there are 4 malls within 10 minutes by taxi from our house. About the only mall in town that is further is SM, and it’s about 15 to 20 minutes away. So, convenience is important to us. Also, schools are important. Our daughter goes to a school that is less than 5 minutes walk from the house. Our two youngest boys attend a school that is about 15 minutes by taxi. So convenience is in place for us. We have learned that if we were to build a place of our own, or buy an existing house, we would probably enjoy a place that is in the neighborhood where we live now.
But wait! Earlier this year we bought land on Samal Island, which is somewhat removed from the City. Physically it is close, but access is by ferry boat, so it takes time. Why would we do that? It doesn’t fit in with what we have learned. Well, actually we fell that it will fit our lifestyle perfectly. You see, by the time we intend to live on Samal Island, our lives will be different. Our kids will be finished with school, and our business life will be winding down to a more serious level of retirement. That makes living in a more remote area more practical and we feel that our lives will fit this new lifestyle nicely. But, we will still be doing some testing. You see, we intend to build the house in the next five years or so, and we won’t live there full time until about 10 years from now. So, we will have 4 or 5 years to use the place as a weekend getaway, etc. That means that in that 5 years we can make a final decision as to whether or not we want to live on the island or not.
OK, I know what you are thinking. You are thinking that we are spending our money on the land and house on Samal and are not 100% sure that we want to live there! But, you are missing one point. There is a big demand for tourists to stay on Samal! If we decide that we don’t care to live there, we will turn the house into a short term vacation rental, and can still make our decision to stay in the City where we know we are comfortable.
I don’t think we will be doing the Samal rental thing, though…. both Feyma and I are practically counting the days until we can live on Samal Island!
Bob – What are your thoughts regarding the prices of building materials? The asawa fears the rise in those prices, and wants to start building as soon as our feet touch ground later this year. We have the land (yes, it’s in my name, too, as spouse!
) but I sort of want to look around for another bit of land that may be better suited for our “retirement bungalow”!
Of course, the asawa will rule regardless of any info received here, but I need to guage whether I’ll need to add more time to the pre-retiring employment phase of my life!
Hi Paul – I am not the type to go for the “we gotta do it now, because prices are going up” talk. Generally speaking, when it comes to inflation, not only do prices rise, but wages do too, so in real terms, the cost to you is generally about the same. I’m like you, I like to take time to look around and make sure that I’m laying bricks in the right place!
Hello Bob, got up early today and catching up this LiP blog before leaving to office. Good luck to you & Feyma. Have a nice day to all of you!
Hi marygrace – I hope that you also have a great day! Don’t work too hard at the office!
Bob,
Have you considered building your house in stages ? Start with something small (suitable for a weekender) so that if you decide to sell you won’t be stuck with an over-developed mansion.
If you’re happy with your location then you build stage 2 i.e. extension outwards or upwards.
The original plan would provide for the future extensions required in stage 2 in order to minimise cost.
Hi Laurence – Yes, we do plan to follow that strategy to an extent. It fits in with our strategy of making sure we like the place, and also makes it easy on your budget too!
Bob
Yesterday and today has been a good summary and scenario of how things have gone and they have worked for you and your family and are a good blueprint to follow. Some good advice and some interesting topics about the practicalities and the economics, some points i have not thought of before like rents v’s investment income and like Louis emphasised the differential between investment land and investment in property, all very interesting.
I have not followed your advice (i may well have done if i had read your blog first) and have bought a place in bangkal central park, it is not as convenient as your place but we like it and think we will be happy there, we certainly hope so. And i don’t have really a plan B or C, but anyway at the moment i am happy with our plans, you have made me think, but there again we have made our decision lets hope we are right.
We also considered Samal as our location and i have been there quite a few times, mainly to the resorts, and a few years ago went on an exploratory trip of the island to see if i would like to buy / build there. It is as beautiful place but it wasn’t for me. Don’t get me wrong, for the right situation, as you have deeply considered it, it would be perfect but for me was a bit too cut off and inconvenient to get to and from the city and not enough facilities for me. However it is a dream location and very beautiful, hope it goes well for you and like you say you have a plan B, which i am sure you wouldn’t have any trouble renting out, certainly not with your contacts but i hope and am sure because you have thought about it so closely it will work for you. We will though this blog, find out, you may be fed up of us all by then Bob. Cheers………………
Hi Rick – I used to have an office in Central Park (actually I rented a house there and used it as an office). I like the area a lot, it’s clean and nice. Only drawback for me, as you say, it is not as convenient to the City. But, I am sure you will be quite happy there. We’ll practically be neighbors!
Bob
I would like to meet you when we settle there next year but you are so busy with your family and your business, sure you could manage time for a coffee and it would be good to meet in person. You have helped me a lot, some of the topics here i know some or parts of what is discussed but then to get some other commenters experience and to look at things from all sides, well the information has been invaluable. thanks again
Hi Rick – Oh, I have time (well, sometimes I do!) to meet you! I’m looking forward to it.
Hi Bob
I first visited the Philippines in 1990 just before getting married. My wife Connie brought me to see her place in Misamis Occidental, she also hadn’t visited there for years as we were both working overseas. The minute I saw it I loved it. What was it??
Just a big overgrown field with nothing but some coconut trees in it.
I said yep this is for me and we built and have been happy there ever since, but there’s a massive difference between then and now, she has grown fruit trees and done a whole lot more there, I still love it.
Hi Jack – The place sounds wonderful! Like you, my first visit to the Philippines was in 1990. Maybe we traveled on the same airplane!
That’s cool Bob, both of us Irish (ok decended but still Irish), both our first visits to Phillipines was at the same time. One comes East and one come West. I like it.
Ah so it’s the Marco Polo you swim at, I kinda figured because I have gone past your subdiv a few times and know the Marco Polo is not far.
Hi Louis – I usually swim at Marco Polo, but occasionally at other places like Holiday Health Club, Apo View and even Insular Hotel sometimes. Mostly Marco though.
Yeah the insular is where I usually go, although I’m spoiled now. The Waterfront hotel in Cebu has a much nicer pool.
I haven’t seen the pool at Waterfront in Cebu. Is it nicer than Marco Polo?
Hi Bob and Feyma. I am considering a move to Samal Island. We have a great lot overlooking the city. I have acouple of questions hopefully you can hep me with. 1. The property is mostly hard rock.coral limestone and is it possible to build on this a pool and house. 2. I would like to join both a gym and golf club. do you have any recommendations and are these relatively easy to get to from the island. 3. How is the diving and fishing off of Samal and is the water clean. 4. roughly how much per sqm to build a qulity finished house. thanks
Hi Corey – It should be quite possible to build a nice house and pool on that property. The limestone will make for a good foundation, I think. I know of no gym or golf club on Samal, so you would have to come to the City for that. Diving and Fishing off Samal are great! Sorry, I can’t help on your last question – too many variables.
Is it the Marco Polo where you are paying $155.00 for annual membership. If not then what Gym is it and would gym would you reccomend that is modern and has a pool, free weights, circuit machines, sauna, steam, etc…. nice showers, locker room, thanks again
Hi Corey – Yes, I have a membership at Marco Polo.