The COVID-19 Crisis Made Me Buy a House

I had never ever thought of owning a house in the more than 10 years of living independently since I started working. Not within or near Metro Manila nor in the near future, at least. I have always dreamed of a nomad life, going on endless road trips, and living off a van or a hammock. But COVID-19 changed all that. When it hit the Philippines in March 2020, I was pretty much homeless. I just came from a bad breakup and I was unemployed. My travel blog which fuels my trips barely brought enough money and the last thing I wanted to do is run back to my parents. That’s when I realized I needed a home. A base where I can seek refuge in dire times like the pandemic. My sweet spot where I can recuperate until I’m ready to hit the road again.

The desire to own a house was there but the decision to finally make the purchase didn’t come easy. I was torn between buying a property in the province where I can live near my family or a house somewhere near the country’s capital where money-making opportunities are close by. Buying a property within Metro Manila was definitely out of my league and way out of my budget. Before I was finally able to make a choice, here were the factors I considered.

—Price

We all know that real estate hardly depreciates in value especially those that are located near or within developing towns/cities. One of the challenges I had to face was to narrow down what I’m able and willing to spend for a 2-bedroom house considering my financial situation. I still make money but not as much as before. Earning more is certainly possible but that would mean sacrificing my passion and what little time I have for my personal happiness. Paying mortgage is a long-term commitment. That means I have to look 10-15 years into the future, estimate monthly payments, and have it all planned if I don’t want to end up with a foreclosure.

—Location

I’m the type of person who prefers solitude and security and the same goes for my type of neighborhood. Metro Manila is pretty congested so I want a home that would afford me moments of peace and silence. I want it to be out of touch but still have access to hospitals, the grocery, and government offices. Other factors I considered for a location is if it’s free from flood and away from the Faultline. Most importantly, I want it to be safe for someone who lives alone.

—If the property can pass for an investment

Plans can change at any time and in a heartbeat hence I also thought about acquiring a property that would be good for a rental space. If in the future I would feel like hitting the road more often or if I found another home somewhere else, I don’t want this property to hold me back. One of the ways I see how is to have it rented by a small family or a group of students while I’m gone so it’s crucial for it to be ideal for such a purpose.

There goes the three. I definitely have more but these were the most important. The COVID-19 crisis has got me thinking about my choices and to make more responsible ones. I know it did the same to many with a lot of my colleagues opting for a work from home set up to spend more time with their loved ones. Certainly, I wasn’t the only one who thought about purchasing a house. Some 3-5 years ago, this decision would have been so absurd because it was more practical to rent a place somewhere near the office. Buying a house would be such a waste knowing I would probably only use it upon retirement.

The pandemic has brought about a great shift not just in the way we live but in many different sectors. More employers are now considering remote work affecting the once thriving lease economy with several companies refusing to return to the office. We’re now becoming digital when some years ago, it was thought to be so ambitious. And even though tourism was badly wounded by the early onslaught of this crisis, it is now recovering with the influx of digital nomads.

Being in quarantine for the majority of my days in the last two years made me think more into the future. I realized that everything can change in a blink of an eye and I have to always be prepared for what comes next, the consequences. Buying a house was just the first of the many big decisions I will be making. It wasn’t easy having myself commit to it. My frequent travels had to take a backseat. Of course, I will still be on the road once the situation gets better but this time, I will be more prudent and less impulsive.

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There you have it, lovelies. Have you made any life-changing decisions during the pandemic? If so, feel free to share them in the comments. Soon, I will open my home to you so you can see what I have been up to. Until next time. Ciao!

Photo by PhotoMIX Company