Once you reach certain milestones—such as getting married, starting a family, and reaching a certain financial goal—it’s natural to establish independence from your parents by moving out. But it’s not an easy decision to make.
Throughout childhood and even young adulthood, we’ve gotten used to relying on our parents. This, coupled with the strong filial piety common in the Philippines, makes pagbubukod an intimidating idea.
So why own a home when you can just enjoy creature comforts at your parents’ house? Morbid as it sounds, your parents won’t be here forever. Read on to learn if it’s time to leave the nest and get your own place.
Why Own a Home? 5 Reasons to Buy a House and Move Out
Wondering if buying a house is a good idea? Check out these reasons for buying your own place:
✔️ You Can Move Nearer to Work
If you spend hours jostling and queueing for public transportation or inching forward in slow traffic, it’s time to consider moving out. Who wants to waste precious time commuting when you could just be relaxing at home?
Consider locations closer to your place of work or public transportation options. You won’t have to worry about getting home in case you need to pull an all-nighter. Depending on the location, you can also enjoy convenient access to restaurants, malls, parks, museums, and other points of interest.
✔️ You Can Set Your Own Rules
If you’ve ever had an argument with your parents, you’ve probably heard the infamous “My house, my rules” a few times. As long as you live under their roof, you’ll have to listen to your parents.
They want only the best for you, but after all, you’re not a kid anymore. You deserve to make your own choices now. By owning a house, you get the freedom of creating your own rules. No need to ask for permission or follow a curfew every time you go out. Invite friends over any time you wish. Cook the food you prefer and set your own meal times.
This is particularly important for couples and newlyweds. Plan your wedding, raise your child, furnish your place, and spend your money as you see fit. You’re starting a new life together—do so on your own terms.
✔️ You Become Fully Independent
No one can go through life alone, but then again, nothing builds character like forging your own path. Once you move out, you’ll have to pay bills, do the laundry, manage household expenses, and clean the house on your own.
It sounds scary, but these are all invaluable life lessons. Once you build your confidence, discipline, and independence, it’ll all be worth it. Your parents won’t always be there to guide you, after all.
✔️ You Get to Enjoy Your Privacy
Even if you have your own space in your parents’ house, you can’t altogether escape their prying eyes. But sometimes, there are details you’d rather keep to yourself.
With in-laws hovering around, newlyweds also won’t be able to fully enjoy alone time with each other. If you choose to live with your parents, your partner might feel uncomfortable in a house they can’t truly call theirs.
Besides, you don’t want your parents to start meddling in your relationship, especially during conflicts. It’s why owning a home is important—if you have your own place, you can hash things out and resolve them in private.
✔️ You Can Maintain a Better Relationship with Your Parents
They say absence makes the heart grow fonder. When you’re living in close quarters with your parents, conflicts are inevitable. Once you move out, you won’t have as many arguments over trivial matters.
You can demonstrate your newfound independence and responsibility to your parents. Show them they can trust you to make the right decisions for yourself. They might even turn to you for advice eventually!
Let them enjoy their remaining years with the knowledge that they raised you well.
Things to Consider Before Moving Out
Convinced to buy your own house? Ask yourself these questions first:
- Is this a rational decision? Make sure your decision to move out is not an impulsive one brought about by emotional distress, perhaps due to a fight with your parents or siblings.
- How far away is your new house from your family? Do you want to visit home every weekend? Or do you want a place a bit further away so that you can truly enjoy your independence?
- Are you renting or buying? Before you take the leap, consider the pros and cons of renting vs buying and buying vs building a home.
- Do you know the area well? Is it safe? Are public transportation options accessible? If you’re planning to rent, are the facilities well-maintained?
- Do you have the skills to make it on your own? If you don’t know how to cook, perform household chores, or create a budget yet, take the time to learn how before you venture out into the world alone. While you’re at it, work on soft skills such as discipline and emotional maturity.
- Are you financially ready? When it comes to money matters, there’s a lot to think about. Are you prepared for home ownership and construction costs? How much do you need for a loan? Are you qualified to take out a loan in the first place? Do you have an emergency fund? What is the cost of living in the area you’re moving to?
Get Your Dream Home with Security Bank
Worried about sourcing funds? Whether you’re buying or building a home, you can make your dream a reality with a Security Bank Home Loan. Borrow up to 80% of the property’s appraised value, enjoy flexible payment terms and options, and fall in love with your new home.
Avail of the loan’s all-in financing option to avoid upfront fees. Check out its other features:
- Loan amount: Minimum of ₱1 million
- Loan terms: Up to 20 years
- Interest rates: 8% to 8.75%
- Quick approval: Within 10 banking days, as long as you submit the requirements on time
Make sure you meet the eligibility requirements:
- 21 to 65 years old upon loan maturity
- With a minimum monthly income of ₱50,000 (combined amount for joint borrowers)
- Employed for at least two years
- If self-employed, must be operating a legitimate and profitable business for the last three years
Interested? Learn more about the Security Bank Home Loan here.
Now that you know why owning a home is beneficial, are you ready to move out? Just remember to consider the factors above and weigh the costs, too.
If you aren’t capable of moving out just yet, that’s fine! In the meantime, save up and learn skills that’ll come in handy when you finally get your dream home someday.
DISCLAIMER: This article was created in partnership with Security Bank Corporation. While we are financially compensated for this collaboration, we ensure to maintain our editorial integrity to provide you with the best recommendations that can help you make smarter financial decisions.