"Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world." – Franklin D. Roosevelt, U.S president
Admittedly, managing your finances can be an overwhelming thing to do. It takes a lot of consideration before you spend your money on to something, thinking whether if it is worth the risk or not. Spending a lot of money may not be a great idea, especially when you have a condo to take care of. It does not matter if you decide to invest in a condo for rent in Makati, or any condominiums in the Philippines, money matters exist. That only means, you have to be mindful of the things you do with your money.
To give you an idea, below are the important questions you need to ask for you to know your first condo expenses.
How much is the rent?
One important thing you must know when it comes to renting a condo is knowing how much you should pay for the rent. If the rent of the condo is too expensive for you to afford, then you need to do some adjustments on your daily expenses. With this, you can ensure that you can pay your monthly dues.
How much will your utility bill be?
Most renters will know exactly how much their utility bill will be since bills are most likely to change from month to month. But that does not mean you are not going to think about it anymore. Perhaps, you can talk with the landlord and other tenants to see how much the average utility bill will cost. Also, you can do some surveys to estimate how much your utility will be.
How far is the condo from activities and places where you like to hang out?
Aside from the essential services, you also have to consider the places where you can spend time with your family and friends. Of course, there are just times you want to chill and have fun after a long and tiring day at work. However, if these places are far away from your condo, this might not be a good way to enjoy it considering the travel time.
How far from work is the condo?
One big factor when it comes to budgeting is the distance of your condo to your working place. If you are a commuter, you should also know how to budget your fare in going to and from your condo. And if you have a private car, you also have to budget your money for the gasoline. With this, it gives a big impact on the money when saving or budgeting. That is why it is best to choose condos that are near your working place to save more.
How far is the condo from your friends' places?
There's nothing fun and exciting than visiting your friends' houses, right? That means, if your condo and their house are just near, then you will not have to worry about a tiring travel time. Of course, you will also not feel and look haggard especially when you are stuck in heavy traffic.
How far from town is the condo?
Before you choose a condo unit, you have to figure out how far it is from the basic services such as the grocery store, gas station, hospital, etc. These places you may need to get to quickly especially when it comes to emergencies. Moreover, the distance of your condo to the place you want to go can also cost you time and money in gas.