To buy a car or to move closer to work?
MANILA, Philippines –Traffic. Horrible traffic. Worsening traffic.
If you’re a young professional trying to reach your dreams and keep a stable job, the horrendous traffic situation in the metro is your biggest villain.
Just because of the heavy traffic, you need to get up extra early, stress about not being late and bear a grueling three- to four-hour commute to or from work. There’s just so much time and energy wasted, and this is why you have probably been mulling over the best solution to ease your life, haven’t you?
If you’re thinking about buying a car for a more convenient commute or settling near your workplace to curb wasted time just being on the road, here’s something that can help:
Owning a car
Advantages:
- When you have your own ride, you will not have to line up for public transportation. You won’t have to bear the heat, dirt and cramped public vehicles.
- Having your own car is more convenient because you have more control over your time. You can more confidently say yes to after-work hangouts. You can also freely choose your route to avoid clogged roads.
Disadvantages:
- Car ownership costs can take their toll on your budget. Aside from the monthly payments, you’ll have to spend on parking fees, gasoline, maintenance, repairs and insurance, among others.
- Even if having your own ride means escaping the hassle of taking public transportation, you’d still face heavy traffic. Unfortunately, that’s something you might not always be able to evade when you’re on the road, and that can eventually make you tired of driving.
Some things you might want to look at:
- Can you afford a car now considering your monthly income?
- Should you buy used or brand new?
- Will buying a car be wiser than making an investment?
Moving closer to work
Advantages:
- Getting a place near your office means your commute will be cut short and you can even walk to work. You’ll also save money on transportation.
- You have more time to unwind. You can work on a passion project, hang out with friends, or do whatever you like with the extra time you have.
- If you’re buying a place, you can enjoy the rewards of such an investment later on and the sense of fulfillment that naturally comes with it.
Disadvantages:
- The monthly rent or amortization can be heavy on the pocket especially if you’re suddenly faced with emergency expenses.
- If you’re moving in alone, you might get lonely during the first few months of being away from your family or hometown.
Some things you might want to look at:
- Don’t settle for a place that’s beyond your means. Set a budget according to your income and expenses then find out whether you can find an affordable space near your workplace.
- Explore as many options as you can find. You can start with Empire East, a real estate developer that offers affordable spaces that are located near major business districts. You can check out their Facebook, Twitter and Instagram accounts to learn more.
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