Given a particular location, many Filipino buyers contemplate on whether to buy land (this includes House & Lots and Townhouses), or a condominium for which to live in or invest in. Allow me to enumerate the advantages and disadvantages of each below…
LAND - ADVANTAGES
* Your Living Space tends to be BIGGER
* You have more privacy for your family
* Land will always remain present no matter how many houses you build on it, so it can be passed on to future generations of your family
* Land values appreciate over time (since they don’t make new land)
* You can have your own garden, garage, and even a swimming pool if it’s big enough and if you’re rich enough
LAND - DISADVANTAGES
* More expensive especially if you want to live in highly developed areas - these prime lands are usually high-end private villages with large lots and hefty prices
* All the repairs and maintenance of the house will be shouldered by you
* Cheaper Lands are usually farther from highly developed areas and offices
CONDOMINIUMS - ADVANTAGES
* Locations are usually very near the highly developed areas which house offices and malls, making it very convenient in terms of travel expenses
* Available in small sizes, which allow small families and individuals to live in highly-urbanized areas as well
* Enjoy the Amenities like the Swimming Pool, the Gym, and Function Rooms
* Commands higher Rental Revenues and Income to Investors
* Repairs and maintenance of the Condominium will be taken care by the Condominium Administration like the electricity, water piping, maintenance of the amenities, building facade and interiors
CONDOMINIUMS - DISADVANTAGES
* Living Spaces tend to be smaller
* Monthly dues can be burdensome especially for big-sized condominium units
* Building itself depreciates over time, although the land value increases
* High density - you have plenty of neighbors sharing the same building and amenities
Know what you’re investing into - Think about these given observations first before choosing between a land or a condominium in your desired Philippine Property location. Depending on your available finances, your preferences and your dislakes, you should be able to discern whether a landed property or a condominium suits you and your family better.
Choose well!
Source: Terence Ong ( http://realestatephilipinesnlog.com)
LAND - ADVANTAGES
* Your Living Space tends to be BIGGER
* You have more privacy for your family
* Land will always remain present no matter how many houses you build on it, so it can be passed on to future generations of your family
* Land values appreciate over time (since they don’t make new land)
* You can have your own garden, garage, and even a swimming pool if it’s big enough and if you’re rich enough
LAND - DISADVANTAGES
* More expensive especially if you want to live in highly developed areas - these prime lands are usually high-end private villages with large lots and hefty prices
* All the repairs and maintenance of the house will be shouldered by you
* Cheaper Lands are usually farther from highly developed areas and offices
CONDOMINIUMS - ADVANTAGES
* Locations are usually very near the highly developed areas which house offices and malls, making it very convenient in terms of travel expenses
* Available in small sizes, which allow small families and individuals to live in highly-urbanized areas as well
* Enjoy the Amenities like the Swimming Pool, the Gym, and Function Rooms
* Commands higher Rental Revenues and Income to Investors
* Repairs and maintenance of the Condominium will be taken care by the Condominium Administration like the electricity, water piping, maintenance of the amenities, building facade and interiors
CONDOMINIUMS - DISADVANTAGES
* Living Spaces tend to be smaller
* Monthly dues can be burdensome especially for big-sized condominium units
* Building itself depreciates over time, although the land value increases
* High density - you have plenty of neighbors sharing the same building and amenities
Know what you’re investing into - Think about these given observations first before choosing between a land or a condominium in your desired Philippine Property location. Depending on your available finances, your preferences and your dislakes, you should be able to discern whether a landed property or a condominium suits you and your family better.
Choose well!
Source: Terence Ong ( http://realestatephilipinesnlog.com)
You made good points about each choice, well done. I think for expats in the Philippines and Cebu condominiums should be considered as they provide full ownership for the foreign buyer.
ReplyDeleteThanks for the comment Cebu Philippines Expat, but the honor goes to Mr. Terence Ong of realestatephilippinesblog.com. He really made a good point when he wrote the article.
ReplyDelete