We recently purchased a 400 square meter residential lot at Island Garden City of Samal (IGACOS). The total amount is P 190,000.00. We made a down payment of P 60,000.00 and the balance is payable in 3 years or 36 months without interest. Our monthly payment is P 3,611.11. Actually, my hubby really wanted something that is near the beach line but we can't afford it. Beach line properties are worth millions.
We don't plan to build a house in Samal. My hubby wanted it just an investment. Maybe we will sell it in the near future at a higher price since Samal is a developing city. Or we can give the land to one of our children when the right time comes.
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