Here for a good time, not a long time?
Unless you’re in your home country, it does not always make sense to sign a long-term lease. There are many uncertainties when it comes to moving abroad, many of which will determine big decisions such as your rental commitments.
Maybe you don’t have a job. Maybe you’re still deciding whether or not you like the city. There is a whole host of reasons expats favor a short-term rental arrangement over a long-term lease.
Here are a few of the most common reasons expats are hesitant to sign on for the long haul.
1. Travel Budget Friendly
As part of the South East Asian travel circuit, the “accidental settle” is a thing. Sometimes, travelers that started out as backpackers suddenly fall in love with where they are… and their two-week visit extends to nine months. Oops!
In these cases, some will rely on their travel funds to sustain life in their current city. Accidental settlers will often need to penny pinch their accommodations so that they can stay as long as financially viable. Which brings us to our next point…
Unemployment. The best way for foreigners to find a job in Saigon is to arrive, first. With unemployment, comes the mystery of your next paycheck: when, how much, from where? We’re sure you can agree that it makes a lot of practical sense to first find a cheap place to stay until you can fairly forecast your future income and level up later if necessary.
Saving money is a common ambition many foreigners will have when they come to Vietnam. A cheap, one-bedroom apartment in Vietnam is a great way to save up those extra dollars without sacrificing your entire lifestyle.
2. Foreigners Prefer Short Term Contracts
Would you sign a lease for a one-year apartment while you’re on a visa that only allows you to be in the country for three months? Didn’t think so.
A lot of the time, foreigners cannot foresee the twists and turns that can arise with visa regulations, work permits and employment situations, which is why we will almost always choose a six-month lease over a twelve month one. Not only that, but we don’t want to be stuck with neighbors or an intrusive landlord for an entire year…
When you’re new to the city, you don’t always know where your life is going to be. Say, you get a place in District 1, and you land a job later in District 7. Talk about traffic woes… Way to shoot yourself in the foot.
In the beginning, it’s best to navigate your life and your work before committing to a location. We touch on some of the best places for expats to live in Saigon in this blog post.
Maybe you’re legitimately a temporary visitor. Perhaps you’re a student who is only around for a semester, you’re volunteering, in between countries, or just here for a visa run. Whatever the case may be, short-term contracts are so sought after for the simple fact that many foreigners really are only here for short-term business.
3. Apartment Living feels Safe, Clean and Convenient
The one-bedroom apartment option is so popular when compared with the alternative… which is opting to house share. There are many pros and cons to living in a share house, and it really is a gamble.
Some people are great to live with, others… not so much. For many, the comfort and security of living alone far outweigh the trials of finding a harmonious house share with strangers. Also, some people just want to be able to walk around their home without wearing pants. We get it.
Renting a one-bedroom apartment is ideal because living in a compound offers secure access and monitored parking. A lot of the time, compound life comes with gyms, pools and on-site convenience stores. It’s not unusual for some to also have banks, supermarkets, coffee shops, spas, and restaurants, too – making the choice a real no-brainer. The Masteri, The Manor, and City Garden are a few examples. It’s always useful to keep an eye out for these features if you or someone you know is currently on the hunt!
For some of Saigon’s top affordable apartments, check out our blog post here.