Which is the best? Buying a house or a condo unit? Buying houses is one of the main goals of starting a Filipino family. But other than houses, condominiums have become a rather popular Philippines properties for sale nowadays. This is mainly because unlike buying a house (which could cost millions), buying a condo unit is far more convenient as well as cheaper for Filipino families that are just starting out. But there are several disadvantages of buying a condo unit Philippines properties for sale compared to actually buying a house.
Drawbacks of Buying a Condominium Over a House
Condos or condominiums became popular Philippines properties for sale mainly because of its affordability compared to buying a whole house (although some condo units are far more expensive that buying a house). Newly weds could easily start their own family in a condominium practically because of its advantages including its maintainability as well as amenities that one could not otherwise afford, such as swimming pools or tennis courts, to community centers with with exercise rooms and much more. However, there are some details about owning a condominium that makes it inferior to owning their own house. These include:
* Monthly Fees
o Aside from electric and water bills, condominiums, especially those with homeowner’s association, would usually require every tenant to pay a monthly fee. This monthly fee is commonly used for the maintenance of the whole condominium as well as wages for security personnel.
o Most condominiums across the Philippines, as well as those overseas, are usually governed by several rules, codes and restrictions. Though most of these rules are reasonable, some can be defined as very restrictive. This usually includes setting a minimum number of tenants living in one condo unit, age limit, pet restrictions, remodeling of the unit, as well as parking restrictions.
* Less Privacy
o Communal living is not always desirable for some people and the noise level generated by living in close proximity to others can influence some buyers to simply look elsewhere. Usually, the biggest concern is about parking for the owners and for their guests. However, many condominiums are being designed with their own garages and have common parking areas available for guests.
* Unsuitable for bigger families
o Condo units are more suitable for use of small families, usually involving 3 tenants, the couple and their child. But bigger families, such as having more than just the couple as well as more than one offspring, wouldn’t be suitable for a condo unit. This is because condominiums are usually smaller (although there are bigger condominiums) compared to houses, making it unsuitable for growing children as well as for extended families.