Here’s How You Save Money When You Own a Condo

Condo living helps you cut down on some costs such as rent, transportation, and even vacation expenses. By Loraine Balita-Centeno

One Antonio
Purchasing your own condo can mean cutting down on certain expenses

Condo living is almost like living in a hotel. You get to enjoy relaxing amenities and be a few steps away from all the major establishments offering the best services and the most sought-after products. Unlike a hotel staycation, though, a condo helps you cut down on some expenses since it doesn’t charge a hefty daily rate. Plus, it allows you to have a place you can call your own right in the heart of the city.

Are you eyeing a condo near your workplace but still on the fence about purchasing your own unit because of the expenses involved? Here are four factors you can save on when you own a condo.

Here's How You Save Money When You Own a Condo

Rent

Why spend thousands every month on a place that will never be yours when you can spend the same amount (or even less in the long run) paying for a property you can one day call your own?

Buying your own condo will allow you to invest in something you can live in now and keep for many years. Payment packages for condos offer various easy-to-pay home financing options that you can avail. With the proper research and consultation with condo investment experts, you’ll be able to find the perfect payment scheme for your budget. You may even come up with an installment plan that will have you shelling out even less money for your monthly payments for your own property compared to your rent.

READ: How to Successfully Rent Out Your Condo Unit

Gasoline

Most condos are centrally located, which is perfect if you work or study close by. Condos are also often located near hospitals, churches, supermarkets, malls and other important establishments. A short walk, bike ride, or drive will be all you need to get to places you need to go.

With the prices of gasoline skyrocketing, and the heavy traffic in the city (which makes your car consume so much gasoline too), imagine how much money you’ll get to save on gas. By walking, biking, or driving the short distance to your office every day, you’ll save hundreds if not thousands of pesos each week on gas. Additionally, since you won’t be driving far distances, your car will be requiring less maintenance work —more savings right there!

Maintenance

This is one of the biggest advantages of buying a condo. It’s a lot easier to maintain. Most people who live in condos, even the busiest ones, don’t even feel the need to hire house help because, due to their size, condos are easy to clean.

Owning a condo instead of a house will also save you on expensive house repairs. You don’t have to spend money to landscape and maintain a lawn, or shell out thousands on an expensive security system to make you feel safe because these will be included in the association dues. Plus, because of the limited space, you won’t be tempted to buy big, bulky, expensive, and often useless appliances. You’ll be content to stick to the few basic appliances you really need.

READ: 5 Ways to Declutter Your Home

Vacation expenses

Condos come with amenities that can give homeowners a taste of a resort-type getaway or country club escape a few steps away from home. The best part? Because of the monthly association dues you pay, you get to go on a “mini-vacation” every week (or every day if your time permits). Resort charges, gasoline, toll fees, transportation fare—you won’t have to shell out for any of these because there will be cool amenities for you to enjoy right at your home. You’ll save thousands of money you’d usually use to pay for resort stays, and gas, and toll money for road trips.

Most properties like the ones by Avida come with beautiful amenities like lap pools, children’s pools, clubhouse, playground and many others that the whole family will enjoy. Even kids would want to “stay-in” within the comforts of their condo building on weekends.

Buying your own condo offers a number of advantages especially for young professionals, new couples, and young families. It offers a chance to live a modern, convenient lifestyle while making a financially wise investment for you and your family.

Start your journey of being a condo owner here and find exactly what you’re looking for.