One of the biggest dilemmas of single professionals today is wanting to own a house but always finding themselves adding to cart and enjoying #budolhauls. Avoiding online shopping to save money is simply easier said than done, especially when every month, there’s always an irresistible discount on your favorite items. It gets harder when you’re an expert at justifying purchases and seeing everything as a need.
Believe it or not, it’s possible to buy a home even without giving up your shopping habit altogether. The key is to be smart in choosing a home and in managing your money. Follow these financial tips to add your ideal home to cart:
Make Savings Automatic
It’s hard to set aside money for a big, important purchase because we’re often faced with the choice to save or spend. We’re more likely to indulge our present selves, rather than wait for the big rewards later. By removing the ability to choose between saving or spending in the first place, you can hack your way into building up funds for your future home. This is where automated savings come in handy.
A lot of banks offer this kind of financial service. You can automatically save a certain amount every month. With this, you get to store up funds for your new house, and at the same time, keep your online shopping purchases within the available cash you have.
Save the Forever Home for Later
It goes without saying that the price you’ll pay for your home has a lot to do with what kind of property you’re choosing. Generally speaking, a huge home will cost a lot more than a small house. This high cost is not just at the actual purchase of the property, but also in its maintenance, which includes utilities and repairs. With this property choice, it’s inevitable to give up shopping sprees every month. In fact, it may be difficult to keep up with housing-related costs alone.
Since you’re still a single professional, go for a starter home for now. A 20 to 40-square meter condo is just the right fit for your lifestyle. Specifically, the studio-type and one-bedroom condo units in Metro Manila are often priced between P2M to P3.5M. Since you have the search skills of an avid online shopper, for sure, you’ll find an excellent starter home from online real estate marketplaces.
Sell Stuff Yourself
One of the best ways to build up funds for your new house (and keep up with the #budolhauls) is to add more sources of income. Aside from your job now, you can try online selling yourself. If you’ve been an avid online shopper for quite some time, it’s inevitable to accumulate stuff.
The best way to declutter? Sell them. Your advantage as a long-time buyer is that you already know which channels you can sell in and how to market because by experience, you know where buyers go and what appeals to customers.
As you plan your online selling efforts to support the purchase of a new home plus your shopping habit, go online as well for your BDO Home Loan application.
With BDO Home Loan, you can enjoy low rates, flexible payments terms and affordable cash out options. To make payments easier on the pocket, you may opt to avail of a 60-day Grace Period wherein your first payment will start 60 days after the release of your loan or Interest Only for the first six (6) months, wherein your principal and interest payments will start after 6 months. Take advantage of these light payment options. Make your home a reality while holding on to your shopping cart.
Even with your #budolhauls, you can still buy a home as a single professional. It’s possible with BDO Home Loan. To know more, visit https://www.bdo.com.ph/personal/loans/home-loan/overview.