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Dipolog City House and Lot for Sale
The houses are cheap, the taxes low, the climate heavenly. Retirement South of the Philippines sounds too good to be true -- but it isn't, as long as you resist the impulse to rush.
Retirees should be able to analyse the facts and figures of living in the wonderful City of Dipolog for they seamlessly deserve to live here. Just read on in, and you could learn all about buying or renting property in the Orchid City. So I rushed to the streets to gather the truth, which was spectacularly breathtaking that changes from the busy Rizal Avenue to the exceptionally clean Dipolog Public Market within a five-block-walk, and into a continuing exhibition of beauty and culture as I went forward to smell the cool sea breeze in the Breakwater of Barangay Barra where the magnificent golden sunset opposite the Top Plaza Hotel.
Dipolog City real estate continuous to appreciated greatly and that the central historic district remains the focus of attention for most people. The amount of development in recent years, however, has led to a slowdown, due to the worldwide financial crisis, however the Philippines provides good value for money.
Mediatrix Hills Subdivision site at Barangay Turno, still has house and lots for sale. The subdivision, is an ideal place for retirees” -- those ranging, say, from the very lowest cost to no more than Php 7 Million. There are a number of set models to choose from or you can design your own. 4 models of houses, all having an average lot size of 300 square meters, the Khristian, Raymond, Ralph and Henrich all with a spectacular view of the Linabo Mountain and located two hundred twenty (220) meters away from the National Highway, is not cheap. But add the views, the beauty, the stone, brick and tile work -- not to mention the incredible climate -- and these houses would cost far, far more in Metro Manila, Cebu or even in Malaysia let alone Europe and the USA.
Buy for cash and then live cheap
The arguable advantage of price, however, isn't the end of the story. The real benefit of housing in Dipolog is in the details.
Like it or not, you probably won't have a mortgage because most houses are sold for cash. So if you've got the money to buy, you won't have a monthly payment. This also works to make a more solid market -- you'll never be surrounded by foreclosures.
Taxes are very low. While most houses in Metro Manila are taxed based on values that approximate the market, appraisers here value houses. Their valuation is significantly below recent market prices. As a consequence, tax bills of 2% or 1% for the basic or government fund plus 1% goes to the especial education fund is all you have to pay in a year of the total market value of a residential property as stated by Mr. Sancen D. Caroro of the City Treasurer’s Office.
Operating expenses are very low. With a year-round temperate climate, Dipolog City has a handful of homes that could withstand such weather. People in the city doesn’t use gas logs in their fireplace – which is not very common but still gas and electric bills are low. Water bills are also low. And insurance bills, if any, are small because fire hazards are limited and people aren't as litigious as in the United States.
Add all the costs, including a part-time or full-time maid, and a typical house can be run for around Php 4,000 a month. The cost of operating a house is a fraction of the cost of operating the same house in the United States, even though it includes something that very few Dipolognons can afford -- household help.
Don't be afraid to rent
The caveat side of the story is just as powerful.
Establishing reasonable measures of value isn't as easy in Dipolog as it is in the Metro Manila because there are no multiple listing services. With no pooled market of properties, it takes longer to discern values. I think this puts a real "due diligence" monkey on any buyer. It means that you need to read and check out local newspaper advertisements and click through as many Web sites as possible. (Community Website of Dipolog City and The Daily Dipolognon, Interactive News Website of Dipolog City, has plenty of rental and sales listings compared to any other websites, and you can see quite a number of houses for sale or rent on other locally published newspapers.)
In a short visit to Dipolog City, so many people fall in love with the city and buy a house in a matter of days that property is regularly for sale simply because the buyers' plans have changed or their infatuation has faded. In a week of looking I found houses that had been owned for less than a year and occupied for still less.
The rental market.
Unlike most cities in Metro Manila, Dipolog City has moderately developed market of houses and apartments. Rents start around Php 3,000 a month, frequently include all utilities and often you have the option to acquire maid service. It is also possible to do long-term rentals of partially-furnished houses which often include a refrigerator and sala set. What is striking about the rentals is that the monthly cost is significantly lower than you would expect from the purchase price. I found one two-bedroom apartment in a complex for instance, that could be rented for Php 3,000 to Php 4,500 a month.
Few rental-to-sale-price "spreads" are that dramatic, but the message is very clear: This is a buyer's market all the way down. No one needs to "panic buy" a house in Dipolog, because you can rent when you want for as long as you want. Nothing bad will happen to your money while you are renting. Indeed, if you are thinking of becoming the ultimate tourist and traveling to Dipolog for the festival months only, renting makes more sense than buying.
Finally, there is the rest of Dipolog. It's probably cheaper in other areas of the city, which means you have a lot of exploring to do because there are still a lot of properties where costs are lower and the climate, is even better.
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