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Budget for move to Palawan

Last activity 13 November 2024 by Andy_1963

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Carl75

Hello!


I am about to acquire a plot near El Nido on 50 years lease basis fully paid in advance (foreigner) and would really appreciate any comments or suggestions on the budget I have made, most likely I have left some items out.


Plot (250 sqm) close to beach

700K PHP


Legal Fees for plot (2%)

14k


Luxury Nipa Hut with 2 bedroom, bathroom, office and outdoor kitchen. Approximate size 400 sq ft (two combined units) with double walls and AC etc. (Fire treated with boric acid or similar). Water, electricity and internet exists. Raised 1 meter by stilts.

800k PHP


Connection to water, electricity and internet

100k


Furniture, mix of local and Ikea style

300k PHP


Kitchen appliances, induction stove, fridge/freezer, dish washer and washing machine (Hanabishi or similar). TVs (LG or similar)

250k PHP


Fence (Chain link or bamboo)

50k PHP


Miscellaneous garden work

50k PHP


CCTV, Home Alarm and outdoor motion activated lighting

150k PHP


Curtains and rugs

50k PHP


Basic automatic scooter (new)

50k PHP


Quad Bike 125cc (new)

70k PHP


Rib Boat 4.3 meters with 50 HP engine and trailer (BangkaPro or similar).

1 million PHP


Total budget: 3.58 Million PHP.


Is this realistic for above, I am sure I have missed some expenses and may have some estimates completely unrealistic


Any feedback would be much appreciated so would any potential suggestions on savings:)


Many thanks

Fred

bigpearl

Hi Carl75, welcome to the forum.

I can only ask if you have spent time with the lot you are about to lease as well as the locale and amenities? The nipper hut and building costs no idea and watch out for the termites, everything here on the beach is rendered blocks and steel, your bike and quad allowance seems on the low side for new, furniture, white goods etc. seems about right and remember if you but a queen size bed here they are 3 inches shorter than western sizes.


Good luck with your venture.


Cheers, Steve.

Andy_1963

Hi, we (2 adults, 1 child [7 years old]) are living in a condo in Boracay and the monthly budget without association dues and vacation is 126K  PHP. (utilities, internet, food, restaurants, school, cleaning material, clothes, vitamins, ....)


Others told me that they have spent 1M PHP / year while living here.


Good luck

Andy

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