It’s not uncommon for property buyers to have a difficult time deciding on what home they would like to purchase. Aside from location, one consideration you must make is the type of residence that you want to own. Most people with families often opt for a house, though condominium units have been growing in popularity in recent years. The two types of properties come with their very own set of advantages and. When buying your property, every one of them has to be taken into consideration.
Looking into your real estate options? Check this infographic out which takes into consideration these perks and pitfalls that houses and condos come with.
Condo vs House: Finding the Right Property for You
Buying a Condo
Condominiums have been popular choices for many property owners mostly because they cater to their urban lifestyle.
- These medium to high-rise residences are located in prime locations near city centers.
- When you live in a condo, shops, groceries, restaurants, and even malls are easily accessible, and are typically within walking distance.
- Some complexes come with resort-like amenities such as pools, gyms, and eco-parks
Common Types of Condo
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- Studio – This type of condo unit has an open-plan area or room which serves as the living, dining, kitchen, and bedroom.
- Bedroom – These units are often larger and have a separate bedroom (whether one, two, or even three) that serves as a private sleeping area.
- Loft – This unit is characterized by a high ceiling and the bedroom is usually located upstairs.
- Penthouse – This is a type of unit found on the topmost floor of the building, making it the most expensive as it offers larger floor area.
- Condotel – This condominium complex can either be a studio, bedroom, or loft-type. They are operated as a hotel with a registration desk, cleaning services, and short-term rentals.
- Condormitel – This complex is basically a dormitory inside a condo building with hotel-like amenities such as aircon-conditioned lobbies, lounge, and even pools.
Condo Pros
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- Low-maintenance – There is usually maintenance staff in most complexes.
- Proximity – Most condo units are near work centers, universities, and commercial businesses.
- Lifestyle Amenities (in some condo complexes) – Condos typically have fitness centers, pools, and even playgrounds for the guests’ entertainment.
- Security – Condominium complexes are gated, staffed with guards, and have security camera systems installed to ensure residents’ safety
- Price – Condo units are usually more affordable compared to houses. In fact, you can live in a condo for as low as ₱20,000 monthly mortgage or rent.
- Low maintenance – There’s no need to mow lawns, rake leaves, or even repair broken windows when living in a condo. You are generally tasked to take care of the interiors only.
Condo Cons
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- Association fees – This fee is often collected monthly to pay off bills for maintenance and security.
- Unit restrictions – Compared to owning a house, renovations made to the unit cannot be done without an agreement.
- Space – Condo units aren’t as big as houses.
- Ownership – The duration of acquiring and owning a condo unit may vary and there are a lot of rules implemented by the administration that you might not agree with.
- Privacy – Condo units don’t offer the same sense of privacy a house can give as you are often too close to your neighbours.
Buying a House
Most families want to settle down in a property they can call their own for a much longer time. That’s the biggest advantage that houses have over condo units.
- Houses are often away from city centers.
- A residence is secured individually, which gives homeowners a good amount of privacy.
- Owning a house allows most of the restrictions set by condo complexes.
Common Types of Houses
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- Single Detached House – This refers to a home that is not attached to another house. It has its own property and completely separate from other houses
- Apartment – These are a group of housing units located in one building and is usually owned by one person who rents it out to tenants.
- Townhomes – Usually confused with an apartment, this type of home shares one or two walls that are typically 2 to 3 stories high.
- Bungalow – This type of residence refers to a small, single-story home usually with a front porch.
- Duplex – This is a kind of apartment divided into two, with a separate entrance for each.
House Pros
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- Total control – You can renovate, own pets, and design your outdoor space.
- More storage – Houses come with more rooms, sections, and can have more than one floor.
- Privacy – Houses aren’t too close to each other compared to units.
- Ownership – Homes can be owned by you long-term.
- Amenities – While not as often as condominium complexes, houses located in subdivisions or villages can also enjoy the same amenities that condo complexes have (pool, gym, playground).
House Cons
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- Maintenance – Owners are solely responsible for up-keep of their home.
- Price – Houses are less affordable compared to condo units.
- Utility bills – Bigger houses mean bigger utility bills.
- Location – It’s often difficult to find a neighborhood with a house near places of convenience
- Safety – Depending on where the house is located, it’s typically less safe compared to condo units as there are no tight security policies.
Condo or House: The Verdict
Choose a condo if you:
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- Live alone or have a small family
- Prefer to be closer to conveniences
- Want to be a part of a community
- Consider safety as your top priority
- Plan on renting it out to earn money while you’re away
Choose a house if you:
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- Have a big family
- Want a space all for yourself and values privacy
- Enjoy designing and renovating the space
- Can afford the cost and pay for miscellaneous fees such as insurance and taxes
- Plan on waiting for the land to appreciate in order to sell the house in the future
Whether you choose to buy a condo or house solely depends on the life you plan to build for yourself. Many individuals with active urban lifestyles choose to buy houses. There are also families who choose to move into condo units. When considering what to buy, you have to plan long-term. Consider if you can make payments, make a budget, and what kind of life you imagine yourself being in years later. All that matters is that it feels like home to you.
Also Read: Your Guide to Finding Credible Real Estate Developers in the Philippines
Whether you decide to go with a house or a condo unit, one thing is for sure. You will need to find a trusted developer that will help you find your ideal home. Looking for something along the lines of affordable leisure? CitiGlobal Realty and Development is a trusted real estate developer in the Philippines that provides one of the most affordable rates of luxury property that come with amenities ideal for any aspiring homeowner.
CitiGlobal has condo unit projects in Tagaytay and Palawan, two of the many prime locations for living in the Philippines. The Tagaytay Clifton Resort Suites is in the heart of Metro Tagaytay, offering a green escape in this breezy and open area near the city. But if a piece of paradise is what you’re looking for, the Diamond Beach Residences in Puerto Princesa is just where you would feel at ease. At agreeable rates, you can enjoy your very own beachfront property with complete amenities.
Decided to go for a house? Then have a look at the Tagaytay Fontaine Villas, a safe neighborhood fit for families looking for comfort and luxury.
Need further advice on which properties to avail of? Contact us now and we can guide you through your real estate investment choices!
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