Although it can be perceived as a daunting experience, independent living is one of the most invigorating decisions a young adult can make. Indeed, there are pros and cons to this, but taking the leap brings you a step closer to the life you have always wanted. Not only that, but independent living teaches people lots of crucial life lessons. For instance, financial discipline, budgeting, real estate, daily living costs, and a monthly fee for utilities are some of the things you will start to save for. But however challenging all this sounds, do not let it stop you from giving independent living a try.
Without a doubt, independent living as a young adult or as an older adult is not that common here in the Philippines. Given that, not many people consider it acceptable to leave their family members at an early age, unlike the customs abroad. To illustrate, families abroad promote independence by moving out upon reaching college. On that note, there might still be countless questions in your mind as to where to start this living-alone journey. But fret not, as this article will help you get a better grasp of independent living costs, independent living communities, urban development, and generally serve as a guide to living independently in the city.
For starters, a source of income would be at the top of the list of needs when deciding to live alone. Notably, some may choose their savings as the initial source of funds, while others opt for initial assistance from their parents. And although both options are great, you can still venture into bank loans as an alternative solution. After all, countless banks nationwide offer reasonable interest rates and long-term payment plans. But despite these things to consider, it is also crucial to weigh all your options carefully and not decide on things impulsively. For instance, renting is the most decent choice if budget takes utmost importance.
On that note, looking through different neighborhoods and types of housing options comes next. Whether it be renting or investing in a condo, stand-alone house, or apartment-style home, there are various choices to check when looking into an independent living community. If you are working in the city, it might be best to choose a home closer to your workplace. Thus, you will be able to save time and bid farewell to fees for transportation services.
Things to Consider Before Giving Independent Living a Go
Aside from the things mentioned above while starting, here is a deeper look into the scope of independent living costs and the type of independent living community you may wish to pursue.
Cost of living in the city to which you are planning to move
Of course, the cost of living is different for each city in the Metro. Notably, high-end places like BGC and Makati might demand more in terms of monthly costs for rent, electricity, and overall maintenance of your humble abode. But if you are a Gen Z student planning on living in Morayta, along Taft, or Malate, then independent living at a lower cost is possible. However, you may want to consider the public transportation available in the area where you are planning to stay. This way, you can ensure that going to and from your university will be stress-free.
Monthly cost of home maintenance
There are several factors to owning a big apartment by yourself. For instance, home maintenance costs take up most of the disadvantages of these kinds of apartment styles. Lawn care, everyday chores, and air conditioning cleaning are just some of the things that come with this kind of living environment. On the other hand, renting a bed space might solve this budget problem as you will be co-living with other Gen Zs and Millenials, thus splitting the cost. Furthermore, this is a great way to meet new friends and step out of your comfort zone. The downside, however, is that you are not cut for this kind of independent living community. To illustrate, light sleepers, neat freaks, and introverts who may dislike having a communal dining room might not be cut for this kind of setup.
Why condo units are more appropriate choices
Without a doubt, renting a condo unit or investing in one is probably one of the best financial choices a Millennial or a member of Gen Z can make. To illustrate, crafting your own meals and having a personal dining room or area to eat your own food by yourself is an excellent plus when owning a condo unit alone. Not only that, but most condos are strategically located near grocery stores and medical care facilities, plus they come with outstanding onsite amenities. Aside from that, condo units can help you promote personal care by giving you a fitness center available right at your disposal—perfect for those with an active lifestyle. Indeed, Vista Residences offers the best of independent living, no matter where you are in the Philippines. With that said, it is safe to say that Vista Residences offers one of the best independent living communities in the country.
Budget-wise, renting or investing in a condo requires a certain average monthly cost. With that, ensuring that the check always comes every month is necessary. Although the actual cost varies per city, it is good to prepare for additional monthly fees during the first few months of independent living.
Living expenses for necessities
Food, water, and electricity are the big three when it comes to necessities. Notably, secondary and tertiary things to set a budget for are medical services (emergencies), recreational programs, wellness programs, fitness programs, and your general well-being. With that said, setting a fixed monthly budget for these things is crucial when giving independent living a try. That way, you can ensure that you will not go above your means and make budget cuts for other stuff that also takes up the same importance as your necessities. Moreover, independent living communities offer a learning curve when it comes to discipline with money and lessons that you pick up along the way.
Independent living costs: decorating while staying on budget
As a Gen Z and Millennial considering independent living, the aesthetics of the place always play a role. With that said, you might want to consider doing DIY projects for decorations to save more money. Not to mention, buying furniture will make a big cut in your budget. Given that, not getting carried away by the cute, dainty decor at the store is a wise decision for a successful independent life. Plus, the independent living community can attest to these kinds of helpful tips. Not only that, but residents enjoy a little at-home project from time to time. That way, this makes your home away from home much more warm and local than that of the same community you had before.
Indeed, hosting movie nights in your own home has a ring to it. Unlike retirement communities and independent living facilities where everything is taken care of for the best senior independent living, venturing alone as a Gen Z means taking the world and unveiling its glory, along with its bumps, all on your own. But what retirement communities teach us is that independent living facilities allow us to enjoy and be independent as long as we can. However, before we start looking into retirement communities and the right senior living community, let us make the most of our youth first!
With the right independent living community, you will undoubtedly flourish in all aspects of life. With that said, if you are planning on giving independent living a try as a Gen Z or Millennial, keep these tips and things to consider in mind, coming from older adults who have been through the same situation!
-1.jpg)
