The Advantages of Buying a Condo Over a HouseJanuary 28, 2021
What are the advantages of buying a condo over a house?
- Strategic Location
- More Affordable
- Less Maintenance
- Premium Amenities and Facilities
- Potential for Passive Income
As the real estate market continues to grow, homebuyers are faced with numerous property options. Choosing the perfect dream home has never been more challenging. For this reason, knowing the advantages of buying a condo over a house can be helpful with your purchasing decision.
While it’s true that a house sits on its land, more and more people find the advantages of condo living unrivaled which includes convenience and premium amenities. Needless to say, each property type carries its distinct advantages and disadvantages.
You’re only a few steps away from indulging in a top-notch lifestyle, so you must think about your options. We have rounded up a guide on how a condo outweighs a house. Read on to learn more about this!
Houses are usually situated in subdivisions away from the heart of the city. This results in a more subdued lifestyle. For the longest time, most homebuyers have decided to purchase condominiums because it cultivates the best of urban living. Here, the units are usually situated to be nearby all kinds of essential establishments. For instance, Megaworld Manila condominiums are strategically situated to be a few minutes from shopping malls, hospitals, schools, workplaces, and even other leisure spots.
Whether you are a career-driven person, student, ex-pat, retiree, or have a small family. condominium living is the more convenient option.
In general, houses are much more expensive than condominiums. To add to that, house prices are heavily dependent on the location. The properties that are closer to central districts are typically costlier. Nowadays, you can easily end up paying for highly demanded houses with a starting price of P45 million. Alternatively, condominiums boast of a fairly cheaper price tag and are already located nearby major cities to offer residents utmost convenience.
To add to that, there are options for pre-selling condominiums that have highly attractive discounts and low-interest rates. These are still under construction so there are low to even zero down payments.
For example, the pre-selling Kingsquare Residential Suites offers numerous discounts on the total contract price.
If you have a budget in mind, you might be better off with a high-end condominium.
While it’s true that condominiums come with maintenance fees, it will only apply to the unit itself. Moreover, exterior renovations are usually carried out by the developer’s association.
On the other hand, owning a house requires spending more due to the large space involved. There are usually spots for lawns that may mean more maintenance. Plus, there might be more need for repairs around the house.
Premium Amenities and Facilities
Condominium development always seeks to provide the most attractive benefits for homebuyers. For this reason, residing in a condo unit means having access to premium amenities and facilities.
For instance, among the properties of Megaworld Manila, Kingsquare Residential Suites is one that has a wide array of amenities. This includes a fully-equipped fitness gym, function rooms, spacious parking areas, 24/7 security systems, adult and kiddie pools with deck, male and female shower areas, playground, roof deck, arcade, study hall with Wi-Fi, and ambient roof decks.
Additionally, most condominiums come with built-in facilities such as kitchen fittings, bathroom fixtures, and provision for communication lines or Wi-Fi.
On the other hand, houses that are located in subdivisions usually have limited amenities. Oftentimes, these offer only playgrounds and sports courts.
Condominiums are the property choice that offers to upscale the lifestyle of residents free of hassle.
Potential for Passive Income
If you buy a condominium over a house, one of the best advantages is in line with passive income. Condominiums can easily gain a stable passive income once tenants are welcomed.
You might be thinking you can rent out a house as well. However, the occupancy and demand rate for condominiums is higher given their premium amenities and accessibility.
This article has rounded up the advantages of buying a condo over a house. When purchasing your dream property, remember that it’s important to identify what you need in life.
As populations rapidly grow and real estate developers continue to build more properties, most homebuyers are seeking to own condominiums. While residing in a house is never a bad thing, the top condos in the Philippines boast numerous benefits for those who want to experience a stress-free lifestyle.
With years of experience and expertise in the real estate industry, Megaworld Manila would be more than happy to cater to your condominium needs. As the top condo developer in the Philippines, we offer the best properties that can upscale your lifestyle.
Click here to inquire more about these today!