To Buy or Not To Buy: Condominium or House?
Given the options available in the market, choosing the right type of house can be tricky. In this article, we have narrowed down the search into two types of homes that OFW families usually choose to move into: first, a condominium or second, a house and lot. These two types of homes offer their own set of pros and cons and we are here to help you see which property is best suited for you and your family.
Condominium: The Pros
If you enjoy being in close proximity to a lot of strategic locations such as malls and other establishments, then a condominium might just be right for you. Condominiums are extremely convenient for its residents, and its developers make sure of that by choosing locations which are situated near strategic areas. Those who have jobs near those locations would benefit greatly by having a place to call home within the immediate vicinity of where they work or go on a daily basis. Living nearby one’s place of work or school not just means cutting down expenses on transportation, but it also means reduced travel time in getting to places — ergo allowing more free time or time spent with family and loved ones.
Condominium: The Cons
While convenience sums up the condominium experience, it also has its fair share of disadvantages. For one, it is usually located in urban areas so that means that you can expect the surrounding area to not just be busy, but sometimes loud and quite polluted as well. For those that value the outdoors and having a view of nature, this type of setup may not be ideal.
Condominiums are typically smaller as well in terms of space as compared to having your own house and lot. While some condominium developments offer bigger units, not all real estate developers make this as a priority now. Majority of the condominium units sold on the market are your standard studio room, a one-bedroom or two-bedroom unit. To add to this, if you have a car, parking is a whole other matter as that would mean a separate investment outside of the condominium unit that you have paid for.
House and Lot: The Pros
There are many good reasons to buy a house and lot in the Philippines. Having a house and lot means getting the maximum amount of control in your home. From the construction to the furnishings — you have all the freedom to choose how you want your house to look, provided of course that you stay within the zonal limitations. Regardless however, having a house and lot allows you and your family to have more space which you can opt to convert into a garden, a parking space for your vehicle, or extra room for your pets and storage.
House and Lot: The Cons
Especially near strategic areas, houses can be really pricey. If you are on a certain budget, consider buying a house further away from the central business districts. Although doing so will mean fresher air and less congestion, on the other hand, this would also mean longer time spent travelling to and from the supermarket or to and from your children’s schools.
The extra space you get naturally means more expenses not only in terms of purchasing a house and lot, but also when it comes to maintenance. Although having your own house and lot means that you are not required to pay any sort of condominium dues, this does not mean that there are no maintenance expenses, there are also HOA monthly fees for house and lot inside subdivisions. Any such maintenance on your home would have to be done by yourself. Consider other expenses for the upkeep of your home to keep it in good shape for you and your family.
The Verdict
These are just some of the ways condominiums and houses size up. At the end of the day, the decision should be made based on your family’s needs and priorities. If you are an OFW trying to make a decision on what kind of home to purchase for your family, make sure to take the time to read other blogs by Vistaland International. To get you started with the right options of purchasing your house and lot or purchasing a condominium unit, check our catalogue at Vistaland International today. Happy house hunting!
