Upon looking at the way things are with most properties with skimping on concrete, undersized re-bars, no earthing, wrong sized wiring for electric, no surge protection or any type of voltage regulation, plastic piping with fittings that often don’t work properly that end up buried in concrete, low grade fittings, etc. etc.
Personally I would only buy a prebuilt home as a shell and do the rest myself as a final option, personally I would prefer from bottom up to take into account the environment around me. I have been reassessing living in a sub-division the last week as there has been a lot of irritants appearing that normally don’t bother me except I am thinking I am tidying the area up and people live like animals in a lot of cases. An example of that is someone visiting a house behind ours cuts through our yard then urinates on the tree. Similar to the way a dog does, to say I wasn’t impressed is an understatement people seem to just stop and urinate anywhere and then wandering around you get the stench of urine. Not too bad where our place is as its in an awkward place that people point being is you can buy lots in many of the sub-divisions without having them construct the house for you. They may give you a timeframe you have to work to but at least you’ve got a bit of peace and quiet. Although be aware not all sub-divisions are the same as some of the cheaper ones are more like concrete ghetto’s than something I would be prepared to live near never mind live in. I am starting to thinking though if the internet stuff develops properly to invest in either a sub-division home or at least a 2 – 3 hectares to move out of the town area completely.
Now this is the thing when you buy an older property often the price of the house is pretty much zero as its based on the lot price. Which to me can be a bargain depending on the structure your inheriting. They are often badly built shacks at the same time plenty of people get in financial problems and need to dump a good property fast and that’s when the right time occurs to buy it. So would say to a new property probably not worth it as its inflated in price and a good chance of being sub standard where an old one they may be wanting to sell but more than likely not for profit.
You have to remember that real estate agents here are sell, sell, sell or should I say lie,lie, lie?? They will often guarantee a resale value in three years you might as well think of a number yourself as its unlikely! look at the number of properties going up and the rest of the world going pop the Philippines is yet to feel that bubble but its going to happen. Buy a bit of land in a Sub-division and your likely to make a profit but more importantly make a home and not look to make a profit.