Should I buy or rent a home in Makati City?

"The decision to buy or rent a home in Makati City, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Makati City for a long time, buying a home could be a good investment. Owning a property allows you to build equity over time and could potentially provide a return on investment if property values increase. On the other hand, renting might be a better option if you're not planning to stay in the city for a long period or if you prefer not to have the responsibilities that come with homeownership, such as maintenance and repairs. Renting can also provide more flexibility, as it's generally easier and quicker to move from a rental property than it is to sell a house. Financially, buying a home requires a significant upfront cost, including a down payment and closing costs. You'll also need to be able to afford ongoing costs like mortgage payments, property taxes, insurance, and maintenance. If you're not in a position to handle these costs, renting might be a more affordable option. However, it's also important to consider the rental market in Makati City. If rents are high and rising, the cost of renting over the long term could end up being more than the cost of buying a home. In conclusion, whether you should buy or rent a home in Makati City depends on your personal and financial circumstances. It's a decision that requires careful consideration and, ideally, advice from a financial advisor or real estate professional," remarked another expat who made the move to Makati City, Philippines.