Living in a condominium is becoming increasingly common, especially in the city. Having your own house and lot still remains the ultimate goal for many Filipinos, but staying in a condo remains the most practical option for many.
College students and young adults, for instance, often share a unit with their peers. This usually serves as a halfway house between their schools or offices and their actual homes in the province. Newlyweds too thrive on the convenience and relative affordability of condo apartments when setting up their starter homes.
Let’s not forget our industrious migrant workers as well. Many of them scrimp and save to buy a condo unit, whether for residential or investment purposes.
Perhaps we can all agree on one thing, though: condo living can be expensive. Looking to save a few pennies? Read on, my friend.
- It’s all about the budget.
- Make the most of your windows.
- Think about which appliances you actually need.
- Maximize the onsite amenities.
- Familiarize yourself with nearby establishments.
I can’t really think of any other effective way to manage your cashflow and expenses. Apart from the rent, you should also set aside a portion of your income for utility bills, association dues, and any other maintenance fees that might come with living in a condominium.
Do take note that utility charges might differ as some buildings charge commercial rates rather than residential ones. Check with your building administrator to make sure.
Big, well-placed ones can illuminate your home well enough so that you don’t need to switch on the lights during the day. Plus, if you’re situated high enough, you can always open them up for some fresh air.
This way, you can reduce your electric bill considerably, which brings us to the next item.
You don’t need to furnish your condo like a house. For instance, if your unit is all of 20 square meters, you won’t need a 2-HP air conditioner, which would consume more electricity and for naught.
In the same vein, consider your dietary habits. Do you prepare your own meals or do you often order in? If you often go for the latter, you might not need an electric stove anymore. A microwave oven or a toaster would probably be more practical. (As a bonus, those would definitely take up less space.)
Does your condominium have a well-equipped gym or swimming pool? How about a lounge? If so, feel free to make full use of them. For starters, your association dues or maintenance fees pay for them. Moreover, they are great alternatives to expensive gym memberships….. or overpriced cups of coffee.
Real estate developers don’t usually put up condominiums in isolated areas. This means that you’re likely to have quite a few supermarkets, shopping malls, and other commercial establishments within the vicinity.
Knowing your way around them wouldn’t just help you save money on gas and parking, it could also reduce the time spent on the weekly shopping. That gives you more time to relax and unwind on weekends then.
Got a few more money-savvy tips for the condo life? Feel free to share them below.