Good budgeting habits help this millennial save up for first home

At 25, Gab Hollero has already started investing on his future home—a 2-bedroom unit at DMCI Homes’ The Oriana condominium development along Aurora Boulevard, Quezon City. 

He bought the unit knowing that it is a big step towards his goal of attaining financial independence in the coming years. 

While property investing may be a daunting process especially among people of his age, Gab knew he had to take on such big commitments to pursue his dream. After all, he has been thinking of getting his own condo since he got his first paycheck three years ago. 

“I think the first time I started thinking about getting a condo was when I got my first paycheck. So, on a long-term basis it's been three years that I've been thinking about purchasing a condo,” shared Gab, a human resources professional. 

“But I was just window shopping in the past three years while dreaming about where? What's a good place to live at? Like what city?” 

For the next three years, Gab continued to look for prospective properties until The Oriana caught his eye owing to its location near Quezon City’s university town as well as the stations of the LRT-2 and the upcoming Metro Manila Subway Project. 

Having lived in Europe for a year, he knew how he would benefit from living in a community built around transit systems. “I want to experience the same thing living back here,” he said smiling. 

Big turning point

Being his first major investment, Gab considers his decision to buy a unit at The Oriana as a big turning point in his adult life. “I was actually deciding on a few things for investments to basically set myself up for success in the future, financially,” Gab related.

“So one of them is a condominium. The reason why I chose a condominium was because I wanted to live in it first at least in the first few years, stay in a central area to experience more transit-oriented lifestyle as well as to have a property that you know definitely will appreciate in value.”

Gab revealed that he was so determined to pursue his goal for financial independence that he already made a reservation for a 2-bedroom unit just two days after chancing upon a The Oriana ad on Facebook and after talking to a property consultant. 

His confidence stems from being financially ready because of practicing good budgeting habits for the past three years. At the same time, he also knew that it was a good time to take the plunge because of the prevailing promos and flexible payment terms offered by developers amid the pandemic downtime.

“On the back of my mind, it was already pretty set in stone. I had some budget set aside for it so the external factors were already there. I was ready to pay for the reservation, etc.”   

Gab said he was able to save by keeping a budget and by being mindful of his decisions in life.

“Live below your means” 

“It's really about being mindful of all the decisions that you make in life. Anything that you take, anything that you do have to be things that add value to you. It’s actually not even just about money. So anything that gives you energy and gives you the drive to keep going and reach your goals,” he explained.

“But on the other hand, if you want to look more specifically into finance, it's very important to keep a budget and to track your expenses. That's the first step—to understand how much money is going in and going out,” he enthused.

He highly recommends keeping a budget so one can prioritize where one’s money is being spent.

“For me, for example at least 50 to 60% of my income go to savings. And that's what made it a lot faster for me to decide and to be able to save up for investing in a property. So savings rates are very important if you want to get to financial independence more quickly,” Gab pointed out.

When spending, Gab has this advice to his fellow millennials: “Live where you think is the most comfortable enough for you to enjoy yourself, but also to save and to meet all of your basic necessities.”

“People always say live within your means but that's not true. You have to live below your means if you want to get your goals faster. So, if you're earning P20,000 to P30,000 try to reduce spending where you can, but don't sacrifice comfortability because that's also very important for your mental health,” he stressed.

Looking forward

Now that he has ticked another item in his investment checklist, Gab is looking forward to enjoying his first home in the coming years while continuing to work on his goals. 

“I’m already familiar with DMCI Homes properties, so I know that it will look like a resort,” he said of The Oriana. “And I know that the cuts are usually bigger. So the overall factor that led me to invest was the good reputation of the company and being a really good developer as well.”

Being a nature-lover, Gab names the Lumiventt® Technology and the roofdeck as the building features he looks forward to the most. “I'm super excited about the Lumiventt® design of the DMCI property. So, I mean, I've only been to friends' condos in DMCI, but I've never lived there,” said Gab of DMCI Homes’ innovative building design that creates a spacious, breezy, and well-lighted environment to promote the health and wellness of residents.

“Another one is the rooftop where you can have a view of Marikina, Antipolo, and the rest of Quezon City, which are places that I'm really fond off. So more than the pool, more than the like the function halls and the basketball court, it's actually the nature side of the project which is what I'm really, really looking forward to,” he beamed.

The Oriana is one of the developments of DMCI Homes, the country’s first Quadruple A real estate developer known for building quality resort-inspired communities in Mega Manila, Baguio City, Boracay, and Davao City. Each of its properties is built with world-standard craftsmanship borne from D.M. Consunji Inc.’s over 60 years of expertise in the construction and development industry.

To learn more about The Oriana and other DMCI Homes’ pre-selling and ready for occupancy projects, units for lease, and special promos, call (632) 5324-8888. You can also visit leasing.dmcihomes.com to know more about opportunities in leasing and rent-to-own programs of DMCI Homes. News and other updates are also posted on the company’s official website and its social media accounts on Facebook, Twitter, Instagram, and YouTube.