We’re living in fast-paced times. You’re always busy running around, trying to get things done—be it a job, an errand, a long commute, a get-together. When you’re right smack in the middle of the daily grind, it’s easy to get accustomed to living day-to-day, one small goal after the other. You tend to lose sight of your long-term goals and future plans, or at least, save them for later.
Take, for example, the debate between buying and renting a home. Sure, renting has some perks. If you rent, you have a lot more freedom to move around because you’re not tied up to long-term contracts. You don’t really have to worry about managing the space because it’s not yours—you just live in it. The biggest reason why people opt to rent, though, is probably because it’s a lot cheaper than buying. Or is it?
If you think about it, buying a home of your own is actually a much wiser way to spend money because it is an investment. Renting a home is, among other things, like throwing money into the wind because you get nothing back from the money you pay every month.
Even with all the responsibility it entails, there is still greater pay-off in choosing to invest in a home, and now is the best time to start. Here are five reasons why:
1. The earlier, the better.
Because it’s every Filipino’s aspiration to have a home of their own, why not get a jumpstart on your long-term goal? Although buying real estate today might require a substantial cash outlay, its market value appreciation will likely give you a hefty return on your investment in the long run. You can build ownership interest in your property as you pay, which is a welcome relief from the money you spent for rent that will never come back to you. In a way, purchasing a property is just like saving up, except that you get to move into your own home, too.
2. Now is a great time to invest.
As a developing country, opportunities only continue to open up in the Philippines. With the economy’s strong footing, growing foreign interest, and continuing demand for housing, it is highly likely that the real estate market will continue to boom. So, what does this mean for you? It means that the earlier you buy your home, the bigger its value will be in the future. This is ideal especially if you intend to sell your home eventually.
3. Think total freedom.
It can be daunting to think about living on your own, moving to a new place, and the financial responsibilities that come with owning a home. But, if you look hard enough, you’ll know it’s going to be worth it. You can make your own rules! Whip out those home pegs and put those DIY ideas from watching too many home renovation shows to good use. With a home that’s your own, you wouldn’t just be involved in design and decorating—you’d have a say about everything, from which prime locations to pick, which payment schemes would suit you best, etc.
4. One word: security.
Think of it this way—you should not just be investing in a place to live in, you should be investing in you and your family’s security. There is indescribable value in owning a home. It might be a material indication of affluence, but more than that, it provides emotional security and stability—a house to build a home upon. An investment would also mean a safe place for all your family members, and something to leave behind to your children when the time comes.
5. It’s never been easier.
So you’ve decided to go for it, but you’re still slightly apprehensive that such a big investment might set you back. The good news is that with the wide array of home loan options available today, buying your own home has never been easier. A home loan offers you the best of both worlds—it doesn’t compromise your cash flow and yet it allows you to make that big move of finally buying your desired home. Through BDO Home Loan, your payment options can be tailor-fit to your needs. Applying is as convenient as surfing the internet because BDO has an online application that you can learn more about here. Easy, right? And if you apply online until July 17, you can get waived fees of up to P100,000. So go ahead and take that first step to securing your own home today! INQUIRER.net/Pauline Reyes/Megan Flores