House vs. condo

Residential

The population in the Philippines is at a steady increase which means there is a never-ending need for families to find their own home.  With many options available in the real estate market, it is often a question of what type of property is better—a condominium or a house? Making an informed purchase is always the utmost priority for any homeowner so here is a guide to help you compare the two options. 

Condominiums 

 

Affordability

Land properties can be quite expensive, especially in prime locations which is why a condominium can shine as they usually come at a fraction of the house’s cost if compared within the same location.

Urban lifestyle 

One big draw to condominiums is the convenience it offers through its prime locations near known establishments like malls, supermarkets, transportation hubs, schools, hospitals, and more. This means significantly less time on commuting and transportation expenses. There is also the fact that condominium developers offer amenities that the typical homeowner would not have access to, such as pools, gyms, playgrounds, and more. 

Maintenance 

It can be cumbersome handling all maintenance on your own but luckily condominium owners need only pay a monthly maintenance fee to keep the common areas such as the gym and pool areas regularly maintained. The only thing they need to take care of is the interior of their rooms. 

Security 

Condominiums have the luxury of having 24/7 security monitoring, CCTV cameras, smoke detectors, and fire sprinklers. Security is often stricter particularly in high-rise and resort-style condominiums as compared to those of exclusive subdivisions. 

House and lot 

 

Larger spaces 

The biggest difference is that owners of houses can enjoy bigger space, including having a bigger outdoor lot or garden. They have the luxury to have their own garage, extra space for rooms they otherwise might not get in a condo such as a dirty kitchen, storage rooms, guest bedrooms, a garden and a maid’s quarters. 

Privacy and flexibility

Homeowners can enjoy greater privacy and flexibility. Whereas some condominiums restrict pets, an owner of a house can freely have that option. Bungalows also provide more privacy versus vertical residential developments whose units are adjacent with one another. While there are still rules to be followed especially within residential villages, owners of houses have far greater flexibility in the design and maintenance of their properties.

Long-term investment 

A house and lot can be passed down to generations. While the structure will deteriorate over time, the land will appreciate on its own. In contrast, a condo usually has a lifespan of 50 years. 

The verdict 

Having laid out the main characteristics of both, the right decision ultimately lies on what is the best one for your family—what fits your lifestyle, budget, and plans. Once you have made the decision, you can reach out to a real estate services company to help you look for that house or condominium for sale. Santos Knight Frank is a renowned real estate brokerage company that offers services ranging from consultancy, property management, appraisal, and more. Learn more by visiting https://santosknightfrank.com/

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About Santos Knight Frank

The world of real estate can be a difficult place to navigate. Whether property is your investment or a tool that drives your business success, you need a partner who can guide you in every step of the way.

Since 1994, Santos Knight Frank has been guiding Fortune 1000 companies, BPOs, private clients, and institutions in all facets of real estate. We advise companies on their best office, retail, and industrial location, oversee commercial fit-out projects, and manage facilities. We have facilitated over 4 million sqm of office transactions on behalf of clients and managed over 40 million sqm of real estate under our property & facilities management arm.

Our residential brokerage platform and wide collection of bespoke homes allow our private clients to buy, lease, and sell properties within their budget, timeline, and lifestyle.

For landlords and investors, we provide valuations and appraisal, consultancy and research, sales and leasing, and property management services across the Philippines.

Santos Knight Frank is part of the global Knight Frank network of over 384 offices in 51 markets, including the strategically important U.S. partnerships with Cresa (commercial real estate) and Douglas Elliman (residential real estate).

We are locally expert and globally connected, end-to-end and best-in-class – as any great partner in property should be.