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Condo Unit Or House & Lot?


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Condos offer so much more than just dwelling and you get much more lot space. albeit shared with other homeowners.  At the minimum you get a gym and a big swimming pool.  Then others will provide commercial space for dining and other condo services like laundry and property management.    

Also, in selecting a condo, you can cater to which other amenities are important to you so that you only pay for a unit that has those amenities you like.  As an example, a friend of mine likes golf so he is better off buying a condo next to a golf course.   Another buddy likes tennis, so a condo with tennis court/s is for him.  Me, I like to relax in a beach resort so that is what I went with.    

 

 

 

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Condo. House and lot is a lot of maintenance. Yard care is also a lot of work too depending on the type of yard and the clean up or maintenance required.

Also with a condo, you have security and various other amenities included depending on the building. It's just a much more functional option, especially when living in big cities. I mean if you live out in no where, where the condo choices are few and areas of interest are much more spread out, then a house makes much more sense.

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This is just my opinion but it's a massive downgrade in lifestyle if you're working in Metro Manila then you're getting a house in some distant area just for the sake of having your own house and lot.

Our active daytime consists of only around 12 hours. If you're throwing 2-3 hours everyday on commuting, it's no different from shortening your lifespan by 20-25%. But that's just me.

Edited by chessboxin
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  • 2 weeks later...
On 1/9/2024 at 7:03 AM, Why Not said:

AFAIK condo ownership has a fixed number of years. Aside from that, a house and lot is a wiser investment for me in the long run.

Your point is  HOA vs Non-HOA instead of condo vs house.  Right at the heart of this is maintenance.   Some places have ordinances where if the property be it house or condo are poorly maintained, that government can declare it obsolete or a hazard and issue warnings to improve/make safe for the benefit of the dwellers.  Dwellers must comply to upgrade the condo or house.  Some get restored;  others decide to demolish and put a new one.   

Hence, it is important that dwellers regularly maintain their property.  I don't have statistics but my guess is houses get demolished more than condos because majority of buildings are under HOA  and the board collects monthly dues for maintenance while only houses under HOA do the collection.  

Case in point, my parents' house which was not under an HOA got demolished because it was in poor condition.    

So by that, HOAs are better choice due to forced savings for maintenance.  But also pick a good house or condo before buying where the common grounds are  maintained properly.  Walk around the property, check the amenities, and inquire from neighbors about the upkeep.



 

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