In recent years, the Philippine real estate market has changed drastically because of the increasing popularity of condominiums. Although condominium buildings are attracting a lot of potential buyers, there is still a stable market for those who prefer complete house and lot properties. Though the concept of a Philippine home has evolved to include condo units, there are still a lot of reasons why you should choose a house versus a condo unit. Below are some of these reasons.
- Property control. The most significant advantage of having a house of your own instead of a condominium unit is the property control that comes with a home. Unlike with condo units, you have complete control over your house and lot. You can remodel and renovate any time you want, allowing you to utilize all the space that your property can provide fully. Aside from this, you also have control over living conditions such as having pets. Some condominium buildings do not allow their residents to have animals inside their units. Other issues that are often included in most condo rules are those regarding noise levels and laundry lines.
- Privacy. If you are the type who values his or her privacy, then getting your own house and lot is preferable to buying a condo unit. Since living in a condominium means closer proximity with your neighbors, there is also less privacy compared to when you have your own house in your lot. While single cement walls sometimes separate condo units, most houses either have space between neighbors or there is a double-wall between two properties, providing more privacy to those residing inside. In a condo unit, you will probably have more neighbors than if you own a house and lot.
- Parking space. If you are living in a condominium building, there is no option for you to park your car just outside your front door. On the other hand, most house and lot have provisions for a garage or parking space. Most of the time, parking space in a condominium building is sold separately, and you do not have the option of utilizing the street in front of your property from time to time which is often the case with house and lot owners.
- More stable market price. Prices of condo units can change more efficiently than the costs of house and lot properties. Hence, having a house and lot is a more stable form of real estate investment.