Janet has purchased not one, but two lots in the year since we moved to the Philippines. You notice I don’t say that we’ve purchased two lots, since as most people know a foreigner cannot own real estate in the Philippines.

Now, whether you are living as an expat in the Philippines or are living in your home country with a Filipina wife and considering purchasing property in the Philippines, let’s face it – you can do whatever the hell you want – you don’t need my permission. But a lot of people have strong views on this, so let’s dig into them.

A lot of guys are very passionate about only renting in the Philippines. After all, outside of the two main metro areas in the country, apartment and home rentals are generally cheap. Our rental home in Valencia is probably 1/4 – 1/3 of the price a similar house would rent for in our previous home in Portland. On the flip side you could probably purchase a home here for the same percentage compared to a comparable Portland house.

There are a few reasons you probably should not buy property in the Philippines:

1. You’re on death’s door. Let’s face it – a 70-year old in poor health moves here – he’s got no reason to buy anything more expensive than a case of San Miguel Pilsen.
2. You’re not committed to the Philippines or the city or town you live in. This requires more self-awareness than most of us expats have. Have you moved to the Philippines for good or just until your neighbor sings karaoke too loud or your Viagra supply runs out? Since high end property is difficult to sell here, such  a guy should again stick to investing in San Miguel.
3. Are you committed to your girl and she to you? Since only Philippines citizens can own property, in all likelihood your girl will own the lot. Sure sure, you can technically own the house on top of the lot, lease the lot for 99 years from your girl, set up a corporation, and a million other schemes expats claim are foolproof. To quote Oscar Schindler in Schindler’s List, when the Jewish investors who lent him money wanted a contract, “Enforced by what court?” Once again if you’re not 100% committed to your girl and she to you – stick to investing in San Miguel.
4. You don’t have a pot to piss in. A mortgage is not easy to get here for a jobless expat and even if you could get one, mortgage rates are high. Therefore most expats who buy or build houses here use this weird, old fashioned thing called cash. If you don’t have any – rent’s the way to go.

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5. You think Camella houses look great and are a fine value proposition. In this case you’ve already invested in too much San Miguel.

So why did Janet, from a poor family, dream of owning property; a dream that long predated her marriage to me. Her parents rented the lot she grew up on. Because it was a rented lot with the associated fear that someday they’d get kicked off, they built a simple native home; no permanent, concrete structure on a rented lot.

So her dream, like that of many Filipinos was about the family; that they’d live in a real house on a real piece of property that she’d own. While in the U.S. she saved and saved (I’m very proud of her) to accomplish her dream.

Why did I want to buy or build a home for Janet and I? Because I am old fashioned enough (or just plain old enough) to believe that that’s the best way to live. Also because I delusionally hope to have enough years left to  live in a bit of a dream house. And also still because I want to leave Janet a nice home after I am gone; a place she can do whatever she wishes. And besides, I built up enough equity from the last house I had in the U.S. to pull it all off.

So those are our reasons. There are no right or wrong reasons. Well, actually there are right and wrong reasons; it’s my blog so by definition my reasons are right 🙂

More about the drama surrounding how we bought those two properties and lived to tell the tale in Part 2 of this saga.