Millennials and newlyweds who are now ready to live independently are encouraged to invest in real estate properties. This is because of the many benefits that come along with it. The country’s booming economy caused the proliferation of real estate properties in many cities, like Cebu – thus offering a wide range of rental property options.
The country has so much to offer that even foreign nationals flock into the country and acquire rental real estate properties. There are many tourist destinations that both foreign and local tourists are eager to explore. In addition, the booming economy and new economic policies encourage foreign investors to invest and, as a result, create employment. Most importantly, real estate properties appreciate in value over time.
The Philippines is a good choice for your first step to freedom and independence. The country offers a wide range of rental property options for you to choose from. You may choose to rent a house or rent an apartment. The choice is yours!
So, which one would it be, a house or an apartment? Let’s weigh the options.
Without a doubt, there are many beautiful rental houses that you can find in the market. The question is, are you ready to rent a house?
When Renting a House
You must have a flexible budget.
It is a fact that there are vast rental property options in the country. But no matter how extensive the options are, it is essential to note that renting a house costs more than renting an apartment. Rent a house if you really need the space.
Amenities must be included in your budget.
That’s why you need a flexible budget because you need to spend on your own amenities. Some rental property options do not include amenities, such as a laundry area and a gym. If you are particular with your health and muscle mass, you have to invest in your own gym equipment.
You should know the best plumbers.
Knowing the best plumbers, electricians, and locksmiths in the area is essential, too. Some landlords do offer these services for free, some might introduce you to them, but other rental property owners leave these things to you.
You should be capable of basic housekeeping.
Knowing how to organize your things inside your home and keeping it clean of dust is a necessary life skill when you rent a home. However, it is also essential to consider if you do have the time to do all these things without disrupting your schedule.
You are good with directions.
Rental houses are often located on the outskirts of the city. That would mean you are far from restaurants, malls, and hospitals. Knowing where these are located will save you the time and the money spent on transportation.
When Renting an Apartment
Look at the amenities offered.
Checking if your lifestyle fits with the amenities offered by the rental property you are eyeing to buy will significantly affect the satisfaction when you acquire it. Apartments or condominiums commonly offer swimming pools. But there are only a few that offers pocket parks and meditation gardens, such as those at Mivesa Garden Residences in Lahug, Cebu City.
Make sure the location fits your schedule.
Not everyone has the time for a walk in the park. Sometimes you have to stick with your schedule to make your life in order. Knowing where the best areas to acquire a rental property will help you stay within your schedule – saving you time and money.
Have at least a bit of knowledge in plumbing.
Just like renting a home, rental apartments do not always come with free services. It is advantageous for you to know an electrician, a plumber, and a locksmith. It is not always that life goes according to your plan, so you should come prepared.
So which one is for you? With the things that you need to know and do listed down, would you rather choose to rent a house or rent an apartment?
To help you come up with a decision faster, here are the advantages of renting an apartment versus the advantages of renting a house.
Advantages of Renting a House
Renting a house gives you more space to move, which may include an additional room for your guest, a parking space, and maybe a backyard for gardening. You may also be allowed to bring your pets. Rental houses are quite far from the city and are usually detached. This liberty is often not provided by apartments since you are restricted to activities that may be too noisy, given that your neighbor is just a wall away.
Advantages of Renting an Apartment
In Cebu, for example, well-known apartments and condominiums such as Appleone Banawa Heights and Avalon are located in the most strategic locations in the city. This applies to the majority of apartment buildings. Their location allows you to access many amenities in such a short period of time. This would help you save time and money for transportation. In addition, there is a wide range of rental property choices that can address your lifestyle needs.
Reading these things you need to consider on renting and the advantages of each option should already help you decide. If not, there is no need to worry because there are still many rental property options for you.