9 Hidden Costs in House Construction in The Philippines (Explained)

Описание: Think your ₱5M construction budget is enough? Think again. Most homeowners in the Philippines are shocked to find they need an extra 10% to 20% on top of their contractor's quote just to finish their home.

In this video, Vic—a builder with over 30 years of experience—reveals the 9 hidden non-construction costs that every Filipino homeowner needs to know before breaking ground. From "hidden" permit fees and HOA bonds to the true cost of utility connections and bank financing, we’re breaking down the expenses your contractor won't tell you about.

🏠 WHAT’S INSIDE THIS GUIDE?
Building a house in the Philippines involves more than just cement and steel. We dive deep into the "Soft Costs" that often get ignored during the planning phase:

Professional Services: Why you need more than just an Architect (MEPFS, Lighting, and Fire Safety).

Site Due Diligence: The importance of Topographic and Soil Surveys to avoid structural failure.

Bureaucracy & Permits: Navigating the BFP (Bureau of Fire Protection), LGU permits, and Notarization.

Gated Community Realities: HOA construction bonds and gate pass logistics that can eat up your cash flow.

The "Move-in" Gap: Budgeting for appliances, window treatments, and smart home security.

Risk Management: Why Contractors All Risk Insurance (CARI) is a non-negotiable.

📑 DETAILED COST CHECKLIST
If you are planning a residential build, make sure you have line items for:

Soil Test (Soil Investigation): Essential for 2-3 story homes.

Occupancy Permit Fees: Includes "As-Built" drawings and Fire Safety Inspection Certificates (FSIC).

Meralco/Water Deposits: These are separate from your contractor's wiring work.

Bank Appraisal & Doc Stamps: Often 2-3% of the loan amount.

Interior Finishing: Curtains, blinds, and loose furniture.

💡 PRO-TIP FROM VIC
"If your construction contract is ₱15 Million, prepare an 'Owner’s Reserve' of at least ₱1.5M to ₱2.25M. This ensures you don't run out of money right when the house is 95% complete—which is where most projects fail."

❓ FREQUENTLY ASKED QUESTIONS
Are HOA bonds refundable? Usually, yes, but only after you prove no damage was done to the neighborhood roads/drainage, or any violations.

Does the contractor pay for the building permit? Usually, the homeowner pays the LGU fees; the contractor only prepares the documents.

How much is Fire Insurance? It varies, but it is a requirement for any bank-financed home in the Philippines.

Timecodes
CHAPTERS:
0:00 INTRO
0:19 CATEGORY 1
1:00 CATEGORY 2
1:41 CATEGORY 3
3:02 CATEGORY 4
3:24 CATEGORY 5
4:07 CATEGORY 6
4:30 CATEGORY 7
4:50 CATEGORY 8
5:15 CATEGORY 9

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