When to Level Up from Your First Condo

For many Filipinos, the dream to own a home is one they work towards for much of their working life. Thanks to affordable payment plans and rental options from developers such as Avida, they no longer have to wait as long. However, there comes a time in many owners’ lives when the need to move on up to a larger unit or house arises. Pursuit of Passion presents 5 tips on identifying just when that time has come.

 

#1        YOU’VE OUTGROWN YOUR SPACEWhen you were a young professional at the beginning of your career, that one-bedroom was pretty much all you needed to come home to at the end of the day and be comfortable. But, as the years passed, and you grew your own family unit, the need for more space arose. After all, the kids won’t want to share your room forever, and having their own room will help to develop their sense of independence.

 

#2        YOUR NEEDS HAVE CHANGEDJust as they took care of you, the time may come when you need to take care of your parents. By then, you’ll be in the market for an extra room to make sure everybody fits comfortably.

 

#3        IT’S PRACTICAL (DISTANCE-WISE)
In the past, we’ve talked about the detrimental effects of traffic on overall levels of health and wellness. As your career advances, you may find yourself joining a company or office far removed from your original condo. Fortunately, Avida has a number of properties conveniently located near major business districts to help you avoid a long commute.

 

#4        IT’S FINANCIALLY PRACTICAL  While it may be easier to pay rent on a monthly basis, in the long run, you’ll find you actually tend to spend less if your money is going towards paying for your condo, rather than continuously paying a lease on it. If your finances are at a point where you could take on a scheduled payment scheme, then the time is definitely ripe to look into it. Long story short: the sooner you start saving, the better.

 

#5        OPPORTUNITY FOR PROFIT
Remember how we said that someday, you may have to move? Well, nobody ever said you had to get rid of your original unit. By retaining your original unit and renting it out with the help of Leasing Services by Avida, you could be making a passive income that could help you to defer the cost of your next unit or house.