Many people start getting apartments whenever they want to move out of their parent’s houses, in a gradual attempt to move into their own. But nobody really considers staying in an apartment for good.
Why should people work harder to get a house when they already have a place to stay, like an apartment? It doesn’t make sense when you think about it, but there are going to be the usual reasons against it. “Apartments are too small if you want to start a family.”; “Nobody wants to pay a landlord for the rest of their lives.”; “Children can’t inherit apartments.”
The first argument is easy to debunk as there are plenty of apartments in Makati and around Manila that are big enough for a family of five. It’s just a matter of widening your pool of choices to find an apartment that’s big enough while fitting the budget.
In fact, there are even apartments that have enough space for extra rooms, such as exercise and recreation spaces, not many homeowners can say they have either of those.
It’s true, nobody likes paying a landlord, but it’s a bit unfair to use it as an excuse to dismiss apartments as a whole. After all, don’t homeowners have to pay the biggest landlord of all, the government? Apartment renters are exempt from house taxes, since, they don’t really own it.
Fair enough, your children can’t inherit the apartment you’re living in right now, but you can set their expectations early in life. This is especially helpful when you have multiple children. Sit them down, and tell them that if they want a house, they’ll have to work for it themselves – just as you did.
The last thing anyone wants is to have their children bicker over how to divide a house or a plot of land after they’re gone. Which happens much too often to be a purely hypothetical scenario.
Staying in a Makati apartment may seem like a short sighted option for many people, but what they don’t realize is it’s a real estate option with many advantages that pay dividends years down the line.