Renting a condominium is a huge trend these days. Many young professionals are opting to rent condominium. It’s because living in condominiums make it easier to commute to work or to any key points of a certain location. Not to mention, the many amenities that condominium developments offer.
But is it worth your hard earned money to rent a condominium? We are all aware of the condominium fees that one has to pay to live in this type of property. People who lease their condominium often do not pay for these fees, since they’re not the once who are going to use the amenities. Some landlords also do not include basic bills into the whole monthly payment.
Before signing that lease of a condominium, ask yourself if it’s all worth it. Here are the things that may help you make the right decision:
Compare prices
The first thing that you need to do is to compare and contrast. Know how much the monthly rent is going to cost. Then compare it to the amount of a condominium for sale. Calculate how much you would cost you to pay for rent against paying for mortgage. Also compare prices of renting a condo with an apartment.
Know your budget for household
Of course, it’s all based in your budget. If the price of renting a condominium will only take you a minimum fee, then it’s probably worth it. Compute how much your water and electric bill would cost to foresee the total amount that you have to pay.
How long are you going to stay?
One of the reasons why people do not buy property is because they need to relocate once in a while. If you think that you’re going to live in that place temporarily, then renting is the place to go.
Be aware of the rules of renting a condominium
Remember that living in a condominium means that you have to follow certain rules. Some condominium developments do not allow pets or are strict with visitors policy. If you think renting a condominium will restrict your freedom to do whatever you want to do, then opt to rent an apartment instead.
If it fits your lifestyle – then do it
Living in a condominium calls for a certain lifestyle. If you are looking for a place where you can have fun while working hard – without the commitment of buying a house, etc. – then renting a condominium is truly the way to go.
What do you think? Is renting a condominium truly worth it? Comment down below and let us know!
Image source: http://www.persquare.com.ph/for-sale/condominium-ncr-metro-manila-pasig/2-bedrooms-resort-condo-in-pasig-near-c5-road-accessible-to-cubao-ortigas-bgc-qc_121613 – Empire East
