by Cecile Cinco
Economic crisis has been felt all over the world. Even the land of milk and honey felt it for the past 3 years and they still do! One thing I found out, though, that makes them survive: they heavily consider rental services.
It may be nice to own everything brand new but there are stuff that are wiser to have on a rental basis. One rule of thumb: if you’re going to use it a few times only, consider renting; if you’re going to use it almost every day and the cost will be cheaper than renting, then buy.
Apartments, houses, and cars are common items available for rent, especially if you can’t afford to buy your own, renting can make the item as close to you without shelling out big amount of money at one time.
Here in the Philippines, house for rent is very common, even bed spacing, which is very good for students or single people who live on their own. With car rental, you can do so as long as the owner is driving. If not, you’re going to pay a hefty price.
Machines are also rented like printing machines. I know of one who rents a 4-color Heidelberg…because they can’t afford to buy one yet. I’ve also seen computers for rent, as in, they provide you with, say, 10 units, for your internet shop. As an investor, you need not shell out that much money right away. You can then start your business and earn with what little you have.
Another kind of item that should be out for rent is books. I love books but when I go to the bookstore I just end up skimming through because I can’t afford them. I have friends who are parents complaining about the cost of books of their children in college. If there were textbook rental shops available, education will be more reachable.
Even if you can afford buying brand new, consider renting if you’re not using it as often as every day. In case of textbooks, you’ll use them just for the semester and toss them away so renting is better. You’re not only doing yourself a favor. You’re helping certain people retain their jobs and you’re being friendly to the environment, maximizing the use of a certain item before it’s thrown away or just taking up space in some corner of your house.
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hey Cecile, nice post
yea renting apartments is a lot more practical especially if youre new at a job or looking for one, for well-guarded security and plus you dont have to worry about maintenance if something goes wrong with your unit, since there’s technical staff to look into it
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Agreed! Sometimes, if we can’t afford to buy it, we just need to swallow that thing we call pride and rent. When we really think about it, it’s really worth the rent.
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There’s a time when it’s better to invest on your own house, not to the extent you give up food money. I do want to invest on my own using the 20-year term through Pagibig Housing. With that stretch, the small house I am targeting will be cheaper compared to the rent by around the 5th year and a lot cheaper as the year goes by because I will pay the same amortization I started from the first year. The problem is, I (We) still can’t afford it since if I pay for the equity and still rent at the same time, what’s left? When the time comes, I am still thinking about it openly as it will still be cheaper than renting.
@digiknowzone, some things are better than pride like the comfort of travel from work to home. Many who rent do so because the rented place is nearer to their workplace than the house they or their parents own.
Just like our place now, hubby is walking to work!
I had the same situation when I was still working. Cool! Nothing’s better than a job just a walk away. :p
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I had the same situation when I was still working. Cool! Nothing’s better than a job that’s just a walk away. :p
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@digiknowzone, you’re no longer working now?