Housing prices in the heart of Metro Cebu can get rather steep, leaving many millennials unable to afford the homes on the market. You shouldn’t have to be stuck in the same place. If you’re itching for independence to lead the life you want, here are some pointers to keep in mind to help you get there.
1. A grasp of the important numbers
As with all major undertakings, you first need to do your research and establish what you need to accomplish on the way to your goal. Start with getting the costs to pay the down, monthly installments, and other fees on the condo you have in mind. Comparing this amount to your monthly income, you can calculate how much you’ll need to save per month to meet your goal.
Take note that the costs adjust to how soon you want to complete your monthly payments. Some condos will allow you to pay less per month by stretching out your installments over a longer period of time. This also works inversely, letting you complete your payments more quickly through larger installments.
2. An open mind to more affordable properties
Hold your income next to your expenses, and it might show that the property you have in mind might not be in reach for now. Fortunately, there are less expensive but just as good starter condos in the market.
Getting a condo at its preselling stage means getting it at the best price. Consider buying from reputable developers to get your money’s worth.
You will want to look for condos that are either located a little farther away from the city center or presently in preselling stage. Location is a major consideration in housing prices, with homes in more distant areas costing less, while condos in preselling stage are priced significantly lower. It would be ideal to find one that fits both criteria. One such condo is Primeworld District - located in Mactan and currently preselling.
3. Some lifestyle changes
Identify your needs and wants. Is a daily cup of barista-brewed coffee necessary? Do you have to get bimonthly salon treatments? Some non-essential expenses add up and could set you back a few thousand pesos per month. This can be better used to save up for your first property.
With plenty of research, flexibility, and discipline, you will find a property that is right for your budget, and, more importantly, for you. It will also be of help to find a reliable developer that has your best interests at heart, such as national developer, Primeworld Land Holdings.
Starting with just one subdivision in Manila, Primeworld Land Holdings, Inc. has since brought its developments across the country with promising new properties in Luzon, Visayas, and Mindanao. For more information and updates, visit Primeworld Land’s official Facebook and Instagram pages.