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Home Buying Guide: Should You Get a Condo or a House?

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For many young professionals and starting families, it’s a challenge to choose between living in a condominium or investing in a house and lot. Condos are easier to pay for and maintain. But owning a house and land provides you with significant investment for your family’s future. As with all things, there’s no one-size-fits-all when it comes to choosing a home. It all depends on your family’s needs, lifestyle, budget, and more.

If you’re having difficulty choosing between these two options, here’s a guide that compares their strengths so you can make an informed decision.

Buy a House and Lot If…

A house and lot are often more expensive than a condo, but their benefits are well worth the price. Though it’s seen as an option reserved for those with large families and equally hefty income, it may be beneficial to buy one early in your life. Here are reasons you may want to own a house and lot.

  • Privacy is Your Top Priority – Living in a condominium may mean dealing with the occasional sounds and smells from your neighbors leaking into your room. This won’t be much of a problem with a house and lot. Even townhouses have thick enough walls that block the noise out completely. Plus, you can put up hedges and fences to keep prying eyes away from your home.
  • You’re in It for the Long Run – If you plan on having a home that your family will keep for generations to come, a house and lot is your best choice, unlike condominiums, which often have a lifespan of 50 years before they’re considered obsolete. This could make them subject to demolition. A house and lot also benefit those who want a long-term investment. You get to actually own land, whose value only increases over time. In a few decades, you’ll be able to sell your home for significantly more than what you bought it.
  • You Need an Escape from the City – The hustle and bustle of city life are exciting, but for some, it can also be tiring. If you want to escape the sights, sounds, and pollution of the metro, retreating to a house in a nearby executive village or a subdivision of affordable properties in Cavite may be your best bet. You’ll have a more peaceful me-time with the quieter surroundings and cleaner air that these suburban neighborhoods offer.
  • You Want to Fully Personalize Your Property – Both condominiums and house and lots need permission from the homeowner’s association and the local government for them to be renovated or remodeled. But modifications for condos are more limited. Structural, electrical, and plumbing changes may not be allowed. With a house and lot, you can move and modify anything as long as you’re working with expert contractors and have the necessary paperwork. It also comes with significantly more outdoor space that you can use to create a pool, a playground, or even a greenhouse for your family. Your land, your rules.

Get a Condo If…

The demand for condominiums continues to skyrocket in the Philippines. According to a 2019 report by BusinessWorld, condos are mostly responsible for the residential sector’s 20% to 25% growth since 2018. Property consulting firm Colliers Philippines also found that presales for condos increased significantly to 54,000 units in 2019, from 53,000 in 2017. Know why these properties are desired by many, and if it’s right for your needs.

  • You Want Easy Access to Your Office – Apart from foreign workers, much of the demand for condo units come from young professionals working in BPOs. Condo properties are often located just a short walk or jeepney ride from their offices. Get a unit near your workplace and you’ll never be late again. You don’t have to spend hours in rush hour traffic, too, just to get home and rest after a long day at work.
  • You Don’t Want to Deal with Maintenance – Condominiums are great for people who are always busy or traveling. Condominiums are generally smaller than house and lot. As such, you’ll have less space to clean. Most of the facilities and amenities, like the building’s lawn, roof, swimming pool, and others are repaired and maintained by your condo provider. In return, you have to pay association dues for their work.
  • You Want to Make a Business Out of It – While house and lots make great vacation rentals, they’re only profitable during the summer and holiday seasons. Condos, on the other hand, are always in demand.  If you’re moving into a better home, you can turn your existing condo into a short-term rental property. List it on platforms like Airbnb and you’ll attract foreign vacationers who are willing to pay big for a short stay while they explore the city. You could also make it a long-term rental for workers who want to have a place to stay near their workplaces.

Figuring out what kind of home you need can be a daunting task. You don’t want to regret spending most of your savings on the property that’s too expensive to maintain or one that lacks privacy. If you’re still young and career-focused, your busy schedule may fit a condo better, as it requires less upkeep.

If you see your family growing soon, plan ahead by getting a house and lot. It provides you with a significantly larger space and better customization options so you can create a home that’s truly yours.  Plus, it’s an investment that will net you large returns if you ever sell it in the future.

Whether you’re getting a house and lot or a condo, you’ll feel a sense of achievement and pride knowing you’ve given your family the home they deserve.

Get a Great Townhouse for an Affordable Price

Want to own both land and a house for a great price? Get a townhouse from Micara Estates-Tanza. Our 70-hectare development includes homes with up to three bedrooms and 50 square meters of lot area. We have amenities that every Filipino family needs, like 24/7 security, a multipurpose court, a convenience store, a gas station, and a shuttle service to the main highway. Commuting to Metro Manila is easy, as our subdivision is strategically located near the Cavite Expressway.

Visit our main office at 55 Tinio St. Barangay Addition Hills Mandaluyong City today to schedule a free consultation with our real estate experts.

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