MANILA, Philippines – If you’re a young professional or starting a family, you’d probably have this dilemma right now: Should I buy or rent a home?
A recent report from global property portal Lamudi showed that 50.2 percent of Filipino property hunters aged 18 to 24 look for rental properties while the remaining 49.8 percent search for those that are for sale.
Interestingly, 57.3 percent of those aged 25 to 34 check out for-sale properties and only 42.7 percent look for rentals.
How about you? Which between renting and buying are you more interested in? How will you know which one will work best for you? Here’s an infographic to help you out:
Deciding on whether to rent or buy a home is really a matter of evaluating your finances and lifestyle needs. Both options have their own advantages and disadvantages, too, something you need to consider as well.
But if you see renting as the best way to go as of now, don’t totally discard the idea of investing in a home someday. Once your finances permit, jump into the opportunity of purchasing your own home. Home value appreciates overtime and you can also rent the place out in case you need to move into a new residence later on.
Empire East has a lot of living spaces for various kinds of lifestyle and even budget. You can check out their properties at www.empire-east.com or visit their social media pages to learn more: facebook.com/empireeastofficial, twitter.com/empireeast, and instagram.com/lifeisatempireeast.
Empire East is a subsidiary of Megaworld and is behind flourishing developments like Little Baguio Terraces, Mango Tree Residences, The Rochester, Kasara, San Lorenzo Place, and The Cambridge Village, among many others.