signs you're ready to get your own place

6 Signs You're Ready to Get Your Own Place

So you’re getting fat paychecks every month and you can buy yourself the latest sneakers — in cash. Does this mean you’re ready to take a leap of faith by living on your own? Whatever your reasons are, getting your own place can be as scary as stepping out into the real world after graduation. 

But are you really prepared to cook your own meal, do your laundry, and pay your mortgage and utility bills? Will you be okay without mom and dad? These signs will help you decide if you can live the independent life.

You have a stable, high-paying job

Perhaps the most important sign to look for is your ability to afford living on your own. Having a job is good but having a high-paying job is better. Come on, owning a condo unit in Metro Manila requires millions of pesos while renting ranges from ₱15,000 to ₱20,000, and this just gives you a studio or a one-bedroom unit with a bathroom. 

If you have a steady income, then it would be easier for you to pay for your condo dues. You’re on your road to independence, so you should be able to provide for your needs without mom and dad’s help. 

You need to live closer to work

How much time do you spend just by commuting from home to work and vice-versa? Picture this scenario: you’ve been waking up at 4 in the morning for the last five years so you can catch the not-so-crowded bus and avoid getting stuck in EDSA, but you’re still late. Your three-hour commute may not be worth it and can be considered a major reason for you to look for a place to live in that’s closer to your office. 

Instead of wasting your time and energy in commuting, why don’t you take a look around your office and see if there’s an available condo for rent? It’s so much easier to walk from your *new* home to work than to stress yourself out with the long commute EVERY.SINGLE.DAY. 

You’re ready for a commitment

Getting your own place is not a joke. It’s a long-term commitment and takes at least three years of active financing. As a condo owner, you should also be responsible in finding solutions to simple things like when your fridge suddenly stops working or there’s a faulty wire in the electric box. 

Will you be able to handle home maintenance repairs and replacements without mom and dad’s helping hand? Think about it before you decide.

You’re ready for the future

If settling down is part of your plan, then buying a condo is a good idea. Whether you’re yet to be engaged or simply want to secure your future, investing in a property that you can proudly call yours makes you feel more comfortable and independent. 

You want to start investing 

Thinking about investing makes you feel like an adult, and we’re proud of you! When you live on your own, you can buy the things that you feel like worth investing for such as a nice refrigerator, smart TV, and other appliances to furnish your condo. Isn’t it exciting to leaf through the pages of magazines that feature condos and how you can style your own? 

You have a good credit record

A decent credit score and history gives banks and other financial institutions an impression of how well you manage your finances. It shows that you are reliable in paying off debt and that they can determine how “credit-worthy” you really are. 

If you’re confident in having a good credit score, then getting your own place can be easy-peasy especially if you’re thinking of taking out a personal loan to pay for the down payment of your place.

Make sure you fund your soon-to-be home by comparing personal loans with GoBear so you don’t have to worry about achieving your dream of getting your own place and becoming an independent adult.