What do you prefer to buy? HOUSE and LOT or CONDOMINIUMS

Given a particular location, many Filipino buyers contemplate on whether to buy land (this includes House & Lots and Townhouses), or a condominium for which to live in or invest in. Allow me to enumerate the advantages and disadvantages of  HOUSE and LOT vs Condominiums below…

HOUSE and LOT – ADVANTAGES

- Your Living Space tends to be BIGGER

- You have more privacy for your family

- Land will always remain present no matter how many houses you build on it, so it can be passed on to future generations of your family

- Land values appreciate over time (since they don’t make new land)

- You can have your own garden, garage, and even a swimming pool if it’s big enough and if you’re rich enough

HOUSE and LOT – DISADVANTAGES

-  More expensive especially if you want to live in highly developed areas – these prime lands are usually high-end private villages with large lots and hefty prices

-  All the repairs and maintenance of the house will be shouldered by you

-  Cheaper Lands are usually farther from highly developed areas and offices

CONDOMINIUMS – ADVANTAGES

-  Locations are usually very near the highly developed areas which house offices and malls, making it very convenient in terms of travel expenses

-  Available in small sizes, which allow small families and individuals to live in highly-urbanized areas as well

-  Enjoy the Amenities like the Swimming Pool, the Gym, and Function Rooms

-  Commands higher Rental Revenues and Income to Investors

-  Repairs and maintenance of the Condominium will be taken care by the Condominium  Administration like the electricity, water piping, maintenance of the amenities, building facade and interiors

CONDOMINIUMS – DISADVANTAGES

-  Living Spaces tend to be smaller

-  Monthly dues can be burdensome especially for big-sized condominium units

-  Building itself depreciates over time, although the land value increases

-  High density – you have plenty of neighbors sharing the same building and amenities

-  Know what you’re investing into – Think about these given observations first before choosing between a land or a condominium in your desired Philippine Property location. Depending on your available finances, your preferences and your dislakes, you should be able to discern whether a landed property or a condominium suits you and your family better.




Source: realestatephilippinesblog