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Should I buy a house or condo?
One of the most common questions when buying a property is the difference between a house and a condominium unit. It is pretty tough decision to make, one that would have you weighing in the downsides and advantages of these two living options.
Before settling into a new home or pad, here are some things you have to look into.
1. Location and accessibility
Urban living isn’t just trendy – often, it’s practical. If you work in a city and prefer a short travel time, or if you want to live affordably near urban hot spots like shopping malls, market places restaurants and train stations or any major transportation hubs, a convenient condo's easier to find than a house.
2. Freedom of space
One of the biggest advantages of buying a house is the freedom. When you own a house, you have the rights to your property. It gives you freedom to design or renovate the indoor and outdoor space any way you want unlike in condominium, you must be able to maximize the very limited space available insdie your unit, which is not ideal for big families. There are also restrictions when it comes to condo maintenance and renovation.
In terms of price, whether it's a condominium or house and lot, the property in the urban areas raises the cost to more than half of what you will pay with suburban.
For example, on a per square basis, houses are cheaper than condos. Imagine buying a 100 square meter house and lot in Rizal and Cavite will cost you around PHP 4-5 million, while this amount will only get 45 square meter condo in Makati or Bonifacio Global City.
House gives you more privacy since you won't have to live in the same floor or building with others. If you're not the social type, however, a condo may not be right for you.
One big thing that differentiates a condominium from a house and lot is because of its built-in amenities. When you live in a condominium you dont't need to go far outside to look for recreational options, instead, a condominium will provide you. A swimming pool, a game room, sports facilities, sky deck and fitness center can be all part of amenities you can enjoy in a condo. On the other hand, a house amenity will depend on the size of lot you have.
As you can see, there are plenty things to consider when deciding between a house or condo. it is up to you to decide which fits your current lifestyle best. Don't stretch yourself too thin, and be aware of your own needs.