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Condo Unit Or House & Lot?


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Condo - after 5 years, the waterproofing at the upper floors deteriorated and leaks into your unit. Staining your ceiling, furniture, floors, destroying electronic and electrical appliances. And fixing the leaks is a hassle because you need the approval of the building administration and the tenants living at the upper floors.

House & lot - you can fix the leaks anytime.

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Im looking into buying a condo unit here in cebu but Im concerned about US tax liability, what I need to report and what extra forms I need to fill out with my yearly taxes. And any US taxes I will be responsible for by owning a cindo here. Anyone American here own a condo

And can give me some information about this would be greatly appreciated

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Condo Living for usually single persons convenience and proximity to their workplace, OFWs who does has invested their hard work pay and expats that does not have any long term tenure in the country.

 

House and Lot for families. wouldn't want kids to grow up living in a box.

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