1. Saves you money
You can choose a place anywhere that’s nearest your job or school site. This way you saved on transportation or travel cost, especially if the spot is just a few steps away from your flat.
2. Saves you time and energy
You’ll have more quality time with your family, personal activities and makes you more productive at home or at work.
3. Freedom in choosing your community and neighbors
When you moved in to your newly owned house, that’s the only time you will be able to discover what exactly your community is and who your neighbors will be (and hoping it’s not a big regret!).
Unlike if you’re simply leasing a unit, you can look for another and go out anytime if you don’t feel like sticking around there any longer.
4. Low cash-out needed
The standard cash you need to shell out is equal to three months of rental rate, which will be your two (2) months deposit and one (1) month advance. Other landlord demands for four (4) months, but others are more lenient by asking for just two (2) months.
₱ 10,000.00/month (rental rate) x 3 months deposit = ₱ 30,000.00
₱ 10,000.00/month x 2 months deposit = ₱ 20,000.00
Security deposit for utilities might be required too, but you don’t have to shoulder the installation fee for the electricity and water meter connection.
The usual security deposit being asked in advance is equal to your 1-month bill in each utility.
Example: ₱ 1,500.00 (Electric Bill) + ₱ 250.00 (Water Bill) = ₱ 1,750.00
Note: Deposits are refundable, provided you don’t have any unpaid rental fees or bills, damages to fixtures and/or property, and depending on contract’s disclosures.
5. Less expenses upon unit turnover
If you prefer a lower total contract price (TCP) for the house or unit you are buying, you will settle for a bare type instead of a complete type unit (if not availing the fully furnished option). This implies you have to shell out for the building materials and labor costs, which needs a bigger sum of money or else you will be paying the monthly amortization simultaneous with your rental fees.
Application of the electricity and water meter’s registration shall be shouldered by your landlady as well, so you don’t need to worry about that, once you occupy the unit it’s all ready to use.
6. Lower maintenance and replacement expenses
Since you do not own the unit, your landlord will shoulder the expenses on some required damage repairs and maintenance depending on the conditions agreed upon in the contract by both parties.
You don’t have to worry paying the real property taxes incurred by the unit since it’s the owner’s liability.
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