Jul 08, 20By Maryl Robleza

One way or another, everyone wants to settle down in a comfortable home. Some will prefer to save up and buy a townhouse or condo they can call their own. Others prefer to rent first and before they decide to lock in their funds for a long term purchase. With a plethora of options you have, it is important to weigh the pros and cons of renting versus buying. Through the help of Signet Properties, you can conveniently look for property options that you can either rent or buy within the key areas around Metro Manila. We partnered with the country’s top and most trusted developers to bring to you a wide range of properties that will fit your needs and preferences. In this article, you’ll find out about factors to consider before making the choice.  

Location - Buying or renting a home in a certain location means that you will choose to live within the vicinity for some time. One of the key factors to look at is the city your home will be in. Is it near the primary facilities like schools, banks, and hospitals? How is the traffic around the area? Purchasing a place is deciding to stay and live there, the long term so you as much as you love your house or condo unit itself, you must do your research and find out if living in the area will be convenient for you and your family. Find the perfect location for the property you are looking for with the help of Signet.  One of the website’s key features is being able to view properties in 360 degree aerial view within the area of your choice. To try this feature, you can visit this link: to navigate properties around BGC.

Budget- Getting a home for a shorter-term will require you to shell out less money for the down payment and monthly rental. If you will just need the space temporarily, it is best to rent first. Renting will also lessen potential financial responsibilities should you decide to look for another place to stay in. However, if you are set on wanting to live in a certain area long term, ask support from a trusted real estate agent and invest in a property instead. There are flexible payment options that can be tailor-fit to your monthly cash flow. It is best to put in a bigger down payment so you can lessen your monthly amortization. You must be prepared financially before putting in a huge amount of investment over any property. 

Purpose- Anchor your decision towards the purpose of the place you will be investing in. If you will be living with your family, it is best to go for a space that will eventually be yours in the future. You may also buy a property today that you can rent out in. This will allow you to make money out of your investment. For short term stays, your best option is still to rent out because it frees you from financial obligations on maintenance costs needed for the place. 

Once you have decided whether to rent or buy, you must also be ready for the implications of your choice. What’s important is that you triple check the factors before committing. Consult with your family members, partner, and friends. Look for the options you have and most importantly, partner with a trusted real estate broker that can help narrow down the best properties for you. Conveniently search for condos, houses, and townhouses that are either for sale or for rent on our website. You can see the units in 360 degree aerial view and find our partner developers with available units within the area of your choice.

Source: Investopedia, Smart Parenting