In the Philippines, Manila is known as one of the most rapidly urbanizing cities. In fact, from being a "garden city," it has turned into a concrete jungle where a lot of people have chosen to live and work because of convenience and accessibility.
However, living in Metro Manila proves to be a challenge at times. So, why not consider living outside Metro Manila? Here are some benefits to buying a property outside the capital:
1. Convenience
Never-ending traffic is one of the things Manileños have to live with. In fact, it is estimated that we lose around 10 days and 17 hours a year stuck in traffic.
When you live outside of Metro Manila, you don’t have to deal with road congestion as much. This makes going to work or to the malls more convenient because it takes less time.
2. Cost of living
While the price of basic necessities continues to increase all throughout the country, the cost of living in Manila is particularly high. In the provinces, however, things are relatively cheaper – from groceries all the way down to utilities. If you are working remotely, the difference is even more drastic, as you’ll be earning higher wages (i.e., based on Manila’s average wage) while spending far less.
3. Accessibility
Because of the administration’s Build, Build, Build initiative, more roads have been constructed to connect Metro Manila with the various provinces. This makes traveling in and out of the capital easier. Residents living in nearby provinces like Cavite, Laguna, Bulacan, and Pampanga can easily travel to and from their residence to central business districts in Ortigas or Makati. It also makes it easier to travel to other tourist destinations over the weekend such as Tagaytay, Quezon, or Batangas.
4. Future benefits
One thing you want to consider when investing in real estate properties is your future. You don't want to invest in something today, only to regret it tomorrow especially if it means struggling during old age. Investing in property outside Manila can be rewarding since it can offer you benefits both now and in the future. The Philippines is becoming the next tourist spot among foreigners, so why not invest at a location that could give you greater future benefits?
5. Expansion outside Metro Manila
In the past, people used to live within Metro Manila because of the opportunities. These days, however, many people recognize that Metro Manila is no longer the only option to build a career. There is still plenty of money to be earned from working outside of Metro Manila.
Provinces located just outside of Manila such as Cavite, are experiencing a major boom in development. Several malls, schools, and industrial parks are currently being built in these provinces, giving residents more job opportunities. This is why now is the best time to purchase a home outside Manila for those interested in buying an investment property.
6. Land appreciation
In terms of value appreciation, properties in growing provinces, such as Cavite and Pampanga, are set to gain value in a short span of time. You don't have to wait long before you can sell them for profit or build your own home on these lots. The opportunity is right there, waiting for you to grab it.
Because of this, many people are now looking for properties in developing areas to be able to build their own homes. The advantage of buying property in an area that is developing is that you can still purchase it at a lower price now than if you wait for a year or two when there are more buildings and structures around it.
7. Education outside the city
There are now more options for parents who want to send their children to school outside Metro Manila. Even schools such as Xavier School, Miriam College, and even Brent International School have all opened satellite campuses in various provinces. And with online learning, parents can even choose to send their child to their preferred school no matter where it is.
8. Slow-paced lifestyle
People now want to live the simple life. That is why many of them are leaving the cities and looking for properties in provinces where there is more space, less pollution, and a slower paced life. Residents are much closer to nature, their neighbors are more relaxed, and they can spend more time with their families without much interference from other people or business activities.
There are many benefits to provincial life you should consider, and these are just a few of them. If you’re ready to make the move and start living outside the capital, Metrobank can make it easier for you. With a Metrobank Home Loan, you can move into your dream home much sooner, wherever in the Philippines this may be.