@publicduende
publicduende wrote: ↑April 4th, 2024, 9:53 pm
That's quite a bleak picture, you're painting, Maybe your fosterdaughter's family has not been totally honest. In or around Cebu, a combined income of P100,000 for a household with rent paid and no kids, is
pretty comfortable!
Not to offend anyone, but last time I heard these kinds of complaints, it was from the typical couples who lived beyond their means and then complained, mainly to foreigners, perhaps to elicit sympathy or pity.
There's only one thing worse than not having any money, and that's not knowing how to spend wisely. Lots of Filipinos like to eat out more than they can afford. They like to throw parties for family and friends for any coinceivable occasion....
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Once again, it depends on what expectation a foreigner has. $1,700 a month, perhaps from a foreign pension or passive income, is plenty for a single foreigner, at least one without family, in good health (so not exposed to unpredictable "health events" that need to be paid at private clinics), and with no expectations of a luxury urban lifestyle.
I don't know about Cebu but in Davao, P30,000 a month pays for a 2 or 3-bedroom bungalow or 2-floor home, with patio or garden. Condo units are usually tourist traps, as no condo administration will guarantee you better electrical and water supply that any housing estate nearby.
Nobody of the people I know personally who are next with my Filipina fosterdaughter is complaining about being poor, but an income of php 100.000,- for two is also surely not what I and they would consider to be rich.
PHP 100.000 is on the pay roll for him and her, but there are deductions of income tax, social security, Philcare and they receive nett about for him PHP 50.000,- and for her PHP 34.000 = totally about USD 1.480,- and divided :2 person and :30 days = about php 1400,- per person per day.
Pay something for the last repairing, taifun and earthquake damage, and pay something additionally for healthcare/, and give some money for using the car, pay for water, electricity, internet/phone etc. - so about USD 20,- or so (approx. php 1200,-) per person per day are left for using for herself and for him.
And yes, true, Filipinos always have their family/relatives meetings (in this case in Cebu and Davao) for any reason, like birthdays, somebody died, somebody died 1 year ago, weddings, neighbour - former classmate - gives birth to a child, the list is endless and add gifts for Christmas and Easter...and for sure I missed other so-called party-events
However I can say, nobody I know personally is drinking alcohol, non-smoker, no gambling....Luckily no rent to pay.
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About myself, when I am in Cebu I look around for real estate, to buy how much - not interested really, but I always want to know, what would be my dream-solution retiring in Cebu - for me as a foreigner I want a condominium near a shopping center, hospital, restaurants etc. about 70 to 80 m2, with garage and swimmingpool. (about same what I bought about 20 years ago in Thailand)
Offers I received asking around various real estate brokers were between PHP 11 million and 14 million. Not such a small amount.
Many condo units are of course cheaper but they are very small, not even 25 m2 and this is too small for me and wife.
About own houses, attached or alone, for my Filipina fosterdaughter and husband, what they would like to buy if they had the money, about landsize 120 m2 and 80 m2 house, I have seen myself, it is sold for around PHP 7 million, relatively centrally located. How to save this amount even with an income of PHP 100.000,- and unclear employment contracts? Loans? Where to go if you cannot pay the mortgage? You might be kicked out of your job anytime, foreign company is closing down, banks are reducing staff etc.
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About monthly expenses, I know this depends on the individual, just my opinion. For me and wife USD 1.700,- are not enough in Cebu, as owner of the condo-unit, no rent. How much would be enough? Maybe USD 3000,- or so, about PHP 5000,- to 6000,- per day for both of us totally, approx. PHP 170.000.
Condo units are usually tourist traps, as no condo administration will guarantee you better electrical and water supply that any housing estate nearby.
We always prefer condo units. We are also living in a condominium building in Japan. Much safer if you are not living there all the time - usually no burglary, unlike if you live in a house, which is empty during your absence.
The condominium building in Thailand has a generator, waterpumps and tanks on the roof - and sometimes if electricity or water supply fail, the emergency system will start to work within a few minutes. Also any repairing like roof damage, lights broken, water pipes leaking etc. will be repaired by the administration, also safe parking lot, large swimmingpool, shops and ATM inside the building. Very comfortable.