Condo Unit Or House & Lot?

[seraphim]

house and lot... you get privacy... and get to do a lot of insane things when you have your own property

[RED2018]

Geography and several other factors should play a big role in your condo vs. family-home decision.

 

If you live in such property-constrained markets,condos are the home of choice for many urban dwellers, and the good units are always in high demand. But in many other metro areas, the number of traditional homes dwarfs the number of condo units. And, when it's time to sell, you'll likely find potential buyers of traditional homes will dwarf the number looking for condos.

 

Lifestyle is another issue.

 

If having a family isn't in the offing for you and you'd like to simplify your existence while minimizing time spent on yard work and other maintenance, a condo could be for you. But those fees you pay go toward the day-to-day upkeep of common areas such as swimming pools, tennis courts, exercise rooms, courtyards, clubhouses, storage areas, parking lots, hallways, etc. You have to decide if you'll use those amenities you're paying to support, if they're worth the money and whether you could pay the same fees or less to look after your family house in the burbs.

 

If you plan to go the condo route, do your homework thoroughly. If the condo complex needs a lot of work, the condo board (which is made up of residents such as you) may stick you with an extra assessment at some point in the year if it can't fully cover major maintenance problems.

 

Talk with residents, including a condo-board member, if possible. Ask about the association's budget and reserve fund and whether the majority of the complex's maintenance liabilities are funded. Find out about recent capital improvements or plans for future ones. Ask whether some or all utilities are included in the fees.

 

And make sure the condo covenants don't restrict your freedoms. Get a really good idea of who lives at the complex. Like in an apartment, your solitude may only be as good as the quality of your neighbor.

 

Condos can also be volatile in pricing. New ones stand to gain in value more quickly but may also lose value more quickly if the surrounding community doesn't develop like owners thought. Existing ones are a little more stable. But note: There were a few years, since 1990, in which condos actually lost value nationally, but there were no years when family homes lost value.

 

Some of the fastest appreciating condo units are located in so-called New Urban areas of a city where residents have access to restaurants, nightclubs, light-rail transit and other street-level amenities.

 

A compromise may be a stand-alone "zero-lot-line home" or a townhome, which will probably have a minimal yard and a neighborhood association that handles maintenance. These have become increasingly popular among young professionals and medium to high-earning parents.

[junerski]

way better pa rin ang house and lot... but generally, for starting couples/yuppies today, owning a house and lot will take forever.

so owning a condo is the way to go... at least you have your own place and not renting.

[Paulmc]

a very big house in a very huge lot...

[marcolim]

I prefer House and Lot.

I transfer from house to Condo at 2003.

Hard to be closed with neighbor.

I heard that people decide to stay in condo for privacy.

I want to have grass guarden with small pond for refresh.

[Observer08]

Condo in Makati please? Pretty please? Need to be closer to my office para kahit ilang oras na overtime pa yan, kaya lang kasi malapit lang ang uuwian.

Hmmm... Kailan kaya ako susuwertehin?

[fickereinz]

Condo if within Metro Manila. House and Lot if beyond.

[mc_darklight]

House and Lot... but it would be nice if you have a condo for extra place right...

[davemac27]

House and Lot ang binili ko ... then pag tapos na hulugan ...

Condo within metro naman ...

[wanna]

i like both..

 

but i like to buy house and lot first

[sleek1027]

House and lot

[poly02]

House and Lot.

[knoll1234]

our house in qc has been there forever, since the 1960's, so I want to experience a condo. That's why I bought one. I go home to our qc house for weekends and sometimes not.

 

 

[tobertsarcher]

for me i prefer it in the old fashion way....HOUSE AND LOT....why?

 

If I have a tons of cash i could ask an architect to demolish and make a new house, new design. can you do it in a condo?

Privacy yes i really like it. Can you ask your friends to come over the belt out Aegis songs on your videoke machine if you are living in a condo?

you are entitled to a parking slot if you got a condo...house and lot if you got a big lawn its an additional garage.

i love seeing green. garden would be highly appreciated. in a condo environment potted plants only.

 

some of the reasons why i would still prefer to live in a HOUSE AND LOT

[wettt]

Condo