5 Comparison Factors: Condominium vs House and Lot
Last week, my cousin just got off the ship and is planning to buy a property for his family. He’s a seaman with a family of 4 and is earning a salary that can give a comfortable life for them. At the moment, they are just renting out on a simple apartment with basic amenities that’s why they are planning to invest on an affordable property which they can use efficiently and they can call their own.
They are currently having problem deciding if they should buy a condo or a house and lot in the Philippines which prompted me to do a little research for them and here’s what I’ve found which I know that can help them:
Cost wise, if both condos and house and lot are located in the same area, condos always are cheaper. Although, condos are introduced as luxurious living marketing wise, they are still more affordable than houses.
According to an article I’ve read over the internet, reliable developers even sell condo units below P1million pesos which is a way cheaper to an entry-level single-attached house located within Metro Manila which is prices go from 1.5million to P3million which could go as high as P22 million to P28 million for high end houses.
Location wise, condominiums are built with greater locations. Given a place like Metro Manila where development areas are congested, condominiums is a more practical option given that they can be built vertically which requires less space.
If you need to be close on your workplace, living in a condo must be the right one for you. Condos are usually built just beside business districts which enables you to take advantage of less travel time and less transportation expenses.
For those living in condos, recreational areas like pools, playgrounds, basketball court, tennis court, function rooms and gyms are always available for the homeowners. These amenities can also be available on high end house and lot for sale in the Philippines.
In terms of space to move on, house and lot offers you a lot more freedom in terms of area. You don’t share ownership with others which gives you the freedom of doing all the things that you want to put in your backyard.
For condos, its life span would be only good for 50 years which is contradictory of buying a house. Once fully paid, it’s all yours.
Living on Condos might pose an advantage with this. Unlike horizontal developments where the risk of floods are higher, condos are rarely affected by floods.
Thanks for reading my post! For condos or house and lot for sale in the Philippines, visit Vistaland International’s site.