Nothing is more fulfilling than having the resources to invest in your dream home. Deciding however on the property type to buy is one of the biggest decisions you have to make prior to investing. House and lot or condo unit? That is the ultimate question! Weighing which suits you best, whether a condo living or traditional house, a homeowners purchase boils down to personal preferences. Do you see yourself in a peaceful neighborhood away from city living? Or right smack the vibrant urban living in Metro Manila? Will you be accommodating families that require a larger spaces or is a single family house in the suburban areas ideal for you? Personal finance aside, arriving at the right property requires careful consideration of your present and future lifestyle. Condo or house? Look beyond the price first and be guided by this helpful comparison. Pros Of Buying A House And Lot1. The Luxury Of More Space Unlike condo owners, people who go for house and lot properties will generally possess more space be it outdoor space and more storage space. A larger interior will definitely allow spacious bedrooms, living rooms, bathrooms, and provisions for a laundry area or even a dirty kitchen which pales in comparison to the restricted space of a condo property. 2. Total Control Of Your Living Space Having complete and exclusive access to a property comes with the benefits of purchasing a house and lot. The freedom to customize your own living space at any given time is a great way to maximize an investment property. Having a house and lot puts one at an advantage of repairing, renovating, or even expanding whenever you or your family see it right. 3. Complete Privacy Having your own house and lot grants you total privacy and exclusivity to a property that condo dwellers do not enjoy. A detached house means not sharing a common wall or floor or even outdoor space with other condo owners. You are free from condo rules too which make you master of your own property. You can have all the social gatherings you want since homeowners usually live away from each other. Of course, condo residents have to be conscious of not making too much noise so as not to disturb other condo owners. 4. A Better Long-term Investment Than Condo Units Owning a house and lot can turn out to be a better long-term investment than choosing a property in a condo building. The house or the structure may depreciate, but the value of landed properties will appreciate over time, especially ones located in prime locations like Makati City or Mandaluyong City. A house and lot is definitely a lifetime asset you can pass on to your family’s next generation. Cons Of Buying A House And Lot1. Costly Property Maintenance Unlike condo living that comes with its own building maintenance, a house and lot ownership comes with all the maintenance work that you will be completely responsible for. Having total control of your own house entails not just paying housing amortization or monthly utility bills. You also have to take charge of the upkeep of your house's exterior maintenance and interior repairs. 2. High Utility Expense A house and lot occupies a bigger space which will definitely cover more utility bills unlike in condo developments where you share condo complexes with other condo owners. Naturally water and electricity consumption will be higher for a house and lot. Pros Of Buying A Condo Unit1. More Affordable House Unit owners of condo projects opt to purchase condos because they are less expensive than purchasing a house and lot. House and lots in prime locations like Metro Manila, compared to condominium projects, are a lot more expensive. Condo life makes owning a home a lot more achievable. Many opt for condo ownership due to the low maintenance lifestyle it brings. 2. Wide Range Of Amenities Condo ownership includes a wide range of amenities. Most condominiums come with a swimming pool, gym, and function rooms which association fees cover for condo unit owners. You get a bang out of your buck even by just owning a studio unit. 3. Strategic And Convenience In Location Most condo dwellers opt for the condo life because most projects are built on desirable locations such as in central business districts in urban areas. Living in a condo grants you the convenience of access to commercial establishments or fitness centers. Some would even have convenience stores of their own. Most work places could be walking distance from a condo. 4. Low Maintenance Having a condo for a home means putting less time and effort in maintenance since your jurisdiction relatively covers only the living space or interior space of your condo. It is the condo's administration who is in charge of the upkeep of the property. Cons Of Buying A Condo Unit1. Fees, fees, fees. Association fees on top of monthly mortgage payment are collected from condo residents to cover operational and maintenance costs of a condo building. Between a condo or house, condos tend to cost more due to the collection of monthly membership or parking fees. A condo dweller also has to pay RPT or real property tax every quarter or year as well as his or her share in areas and the land where the condo stands on. 2. Restricted living space. Condos tend to offer less space to its owners. A condo studio unit in business districts in Metro Manila can be as small as 20 square meter. A condo owner only has the interiors as his own space and will have to share the outdoor space and amenities like swimming pools with other unit owners. 3. Less freedom Living in a condo generally disallows home extension projects which house and lot owners can take up anytime they want to. Prior to home renovations a condo owner has to seek permission from the condominium's property management office. Condo rules can also restrict owning pets and other house rules. Condo or house, deciding on the right property type boils down to what you value you most in a home and which one defines a quality life for you. No matter what you decide on, carefully weigh your long-term goals including where you want to retire or if having a family is something you see yourself in. FAQsWhich is better buying a house and lot or a condominium unit? Buying a house and lot or a condominium unit depends on your long-term goals and what your non-negotiable's are in owning a home. What is better, house or condo? Owning a house or a condo comes with both its pros and cons. What are the disadvantages of owning a condominium? The disadvantages of owning a condo are limited space, less freedom or control over home renovations or improvements, and high condo fees.
4 Comments
Airbnb rentals have definitely become the go-to choice of accommodation of foreign tourists and local staycationers alike. As Airbnb guests, whether they go for short term rental or decide to be long term tenants of an Airbnb property, Airbnb guests are able to experience the genuine comfort of a home despite being away from home.
Airbnb rentals also allow an Airbnb guest the total cultural immersion in a destination since many rental properties have already emerged in many cities in different countries. An Airbnb rental does attract renters exactly because it provides a new experience to a “vacation home.” Airbnb is a real game-changer in international and local tourism. To real estate investors, investing in an Airbnb property has become comparably lucrative these days to traditional real estate investments. Despite the ongoing pandemic, Airbnb owners are seeing vacationers sign up on the Airbnb site for short-term rentals, if only to find reprieve from their usual environment. In the age of digital nomads and remote-working set-ups, an Airbnb investment property cannot be denied of its potential ROI, too. But is an investment in real estate for an Airbnb all that? Before you get carried away with all the benefits you hear and decide on an Airbnb investment, allow this article to take you through the pros and cons of an Airbnb investment. Pros of an Airbnb Investment
With all that said, investing in an Airbnb rental is not just about boosting monthly income. The cons of Airbnb investing are also unavoidable. From high monthly costs to getting bad reviews from an irate guest, maybe investing in a primary residence for an Airbnb home might not exactly align at once with your financial goals. The pros come with the cons of Airbnb renting too. Consider these other factors: Cons of an Airbnb Investment
Overall, Airbnb has, without a doubt, changed the real estate industry by disrupting average apartment rents and traditional rental scenarios. Whether a serious real estate investor or a newbie investor in real estate, venturing into Airbnb does have its rewards. The pros outweigh the cons if you work hard as a host and improve or use your financial literacy to your advantage. FAQs What are the downfalls of Airbnb? The downfalls of an Airbnb include high operating costs, regular maintenance, incurring property damage, and irregular bookings from guests during off season. What type of property is best for Airbnb? The type of property best for Airbnb boils down to the right property location. Locations with strategic access to top tourist spots, places of convenience and leisure are all surefire ways to book short term rentals. Ensuring that your property has a photogenic interiors can easily attract renters too. Is it worth it to be an Airbnb host? Investing in Airbnb offers a good source of monthly income and extra cash. It is a smart way to earn from investing in properties whether you are an OFW, millennial, retiree or anyone who wants to invest in real estate. It comes with its own pros and cons but if you are determined and work hard, investing in an Airbnb can be rewarding. Owning one’s dream home is anyone’s ultimate goal. Buying your own house and lot or condo unit, be it in one of the major cities or a rural land, is a remarkable accomplishment in life. Property ownership is not only a measure of success. Purchasing real estate properties as a dream home or for commercial and business use is also an indicator of a secure future. But the process of buying a house in the Philippines can be overwhelming. It is a big step that entails many big decisions with longterm impact. One can be met with intimidating real estate property terms such as:
With the perspective of an experienced real estate professional, in this article, we give you the basic steps to get your house buying process started. Know Your "Where" You may already have an image of your home amidst the bustling city life. But not many think through the specific city center or residential land their home will be on. Will your house be in a major city like Quezon City or Davao City? Or perhaps on brand new beachfront condo unit of a far-flung island in Palawan? Before you buy property, it is important to think of your "where" first and how this location, whether in a rural land or an urban land, will serve your kind of lifestyle. Consider its accessibility to your work place or its proximity to you family and friends. A home's location should give you both comfort and convenience. Know Your Budget Take a hard, long look at your finances and determine what budget you'll be working with. It is highly recommended before you checking property prices that you determine your own financial capacity. This will make certain decisions such as whether to get a housing loan or not is necessary. Or will you be able to make a down payment upfront enough to seek a discount from real estate agents. You won't be able to tell an affordable house and lot from a luxury one if you don't have a measure of what's affordable for you. Connect Your "Where" With Your Budget And Begin Your Property Search If your "where" and your budget relatively coincide, the chances of your property or land ownership in the near future is highly likely. But before kickstarting your real estate transaction with a real estate agent, first do your research. Check for the property value of the house and lot you desire or do a quick interview about the selling price of the condominium project you've been eyeing. The goal is to educate yourself and get an idea of what a the fair market value of a property in the Philippines is. Only then should you reach out to the expert. Consult A Licensed Real Estate Broker It pays to talk to someone you can trust in the real estate industry. Reaching out to an expert, specifically a licensed real estate broker with a trustworthy background, will be able to get you the guidance you need in the home buying process. While you may find a pool of real estate agents out there, it's best to seek a real estate agent that has a good track record. It won't hurt to seek real estate agent recommendations from friends and family. Set A Comfortable Timeline And Make Your Dream Happen Chances are it won't materialize if you do not work towards it. The buying process can be taxing oftentimes involving laborious processes such as getting bank loans or registering property. It doesn't have to be when you have a guide from your trusted real estate agents and setting a timeline you can comfortably commit to. To keep your eyes on the price, you have to chalk up that timeline and work towards each deadline. The last thing you want is to give up on your goal. FAQs How much salary do you need to buy a house in the Philippines? As a general rule, you should only use 30% to 40% of your monthly income to pay down your mortgage. For instance, a 30-year-old with a ₱100,000 monthly salary can afford to pay back up to ₱30,000 to ₱40,000 in home loan installments per month. How much money should I save before buying a house in the Philippines? The money you should save before buying a house in the Philippines should come from 30% to 40% of your monthly income. Can a foreigner buy a house in the Philippines? Foreigners can not buy a house in the Philippines. It is not allowed for a foreign national to own real estate property under Philippine real estate legislation. Only a Filipino citizen, a former Filipino citizen, and corporations with a majority of Filipino citizen shareholders are allowed to own land, structures, condominium units, and townhomes. What is fair market value? Fair market value (FMV) is the estimated price at which a property will sell on the open market. What is capital gains tax? Capital Gains Tax is a tax imposed on the gains presumed to have been realized by the seller from the sale, exchange, or other disposition of capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale. - Bureau of Internal Revenue With its delicious adobo and sizzling sisig, its trademark warm people, and the plethora of sun, sand, and seas, the Philippines is easily home to anyone. But the second largest archipelago in the world is more than its picturesque shore lines and remarkable sunsets. To live in the Philippines means having the best of both worlds: enjoying the vibrant city life teeming with fine dining restaurants and high end shopping malls, while basking in tropical paradise where one can find reprieve in world class beaches. Should you choose to live in the bustling major cities of Metro Manila or reside in the laid back atmosphere of the colonial towns and bucolic setting, one is assured to experience the country’s fascinating rich culture and history. Take your pick among the best places to live in the country. The Philippines Top 10 Best Places To Live In Among other major cities of Metro Manila is Makati City, primarily known to be a financial hub and the host of multinational companies. But this central business district offers more than its big city vibe, corporate buildings, and luxury malls. To anyone who craves an active social life, Makati City is a smorgasbord of cultural highlights too with its hip bars, art galleries, music scene and up-and-coming restaurants where one can interact with young professionals and creative minds. Makati's neighborhoods puts one in a place of comfort and convenience. Did you know?
2. Bonifacio Global City, TaguigAmong the Philippines’ highly urbanized city is Taguig whose heart and soul is the lively Bonifacio Global City. This part of Metropolitan Manila has become popular for its own Bonifacio High Street housing numerous restaurants and luxury shops. BGC is also known for its progressive urban developments, eco-friendly environment, pedestrian-friendly sidewalks, mini-parks, street art, and its beautiful skyline. Although fast-paced commercial hub, BGC is the best place to live if one seeks work-life balance. For lease and For Sale condos in BGC are available here. 3. Mandaluyong CityTagged the “Tiger City of the Philippines,” Mandaluyong City is a comfortable and quiet residential area where one can enjoy being a stone’s throw from shopping centers, prestigious schools known to provide quality education, and other places of convenience. It is an ideal city to raise a family whether you choose to live in a suburban home, townhouse, or a condominium with modern amenities. This brand new 4-in-1 Building For Sale in Mandaluyong might just be your best property investment. It boast of an estimated 1,700 sqm floor area, has spacious office floors, storage area, commercial rental spaces, and a beautiful penthouse for residential use. 4. Parañaque CityAmong the safest cities and comfortable residential spots in the Metro is Parañaque City, known for its cozy and quiet neighborhoods. Away from the central business districts, it is known for its secure gated communities such as the famous BF Homes. Parañaque City also offers residential developments where families can be conveniently near to quality schools, shopping centers, fine dining restaurants, and other places of convenience. 5. AlabangMaintain a peaceful suburban family living while enjoying a momentary respite from the chaos of the metro. Alabang grants good proximity to a posh lifestyle placing one near to the Alabang Town Center, Molito and the Festival Mall. Alabang also makes the South Luzon Expressway easily accessible hence making possible the quick out-of-town getaways to Tagaytay City and Nuvali in Santa Rosa City. 6. Santa Rosa CityA first class city of Laguna, Santa Rosa City is known to provide scenic beauty, fresh air, luxury estates, and a safe suburban living to families who want to getaway from the heavy traffic and congestion in Manila. Its convenient access to SLEX makes one near Tagaytay City's fine restaurants and Enchanted Kingdom should one fancy a day at the theme parks. Although a significant center and an industrial city with its own commercial hubs, one gets to enjoy the ambience of provincial living here. Why not exchange your busy big-city life for a more tranquil suburban alternative, like Sta. Rosa, Laguna City? This 4-Bedroom Asian/Eclectic Inspired House For Sale in Sta. Rosa is a steal at 14.5M. 7. Tagaytay CityFinding an abode nestled in a cooler climate with surrounding nature is definitely one of the best places to live in the Philippines. Tagaytay makes this possible without totally cutting one off from the convenience of metro living. Highly urbanized with its own fine dining restaurants and fun activities, Tagaytay City is special for its laid back vibe. Relish living in cozy residences with the view of Taal Lake while breathing fresh, crisp air. Conveniently find your way back to Metro Manila in less than two hours with Tagaytay's easy access to the South Luzon Expressway. 8. Baguio CityThere’s a reason why the Summer Capital of the Philippines is one of the best cities in the Philippines. It combines quaint provincial charm with modern living. An urban city atop a mountain, Baguio City lets individuals and families enjoy a uniquely cool climate, thanks to the city's elevation, that one cannot find anywhere else in the Philippines while being in close proximity to classic tourist attractions like the Burnham Park and the Mines View Park, malls and other places of leisure. Baguio City is now also just a short drive from Metro Manila (now only 3 hours). But who wants to getaway from the nippy air of Baguio City when it has its own secret bars, museums, vibrant music scene, and equally top notch restaurants? Did you know?
9. Cebu CityThe Queen City is Visayas’ main urban hub. Cebu City is home to world-famous dishes such as lechon and sisig. Cebu City has contrasting features to Manila, primarily being near the best pristine beaches of the region while being a highly urbanized city, make it one of the best places to live in the Philippines for both locals and expats. Add in the fact that the cost of living is lower in Cebu City makes it a great way for local city dwellers, digital nomads, and other expats to experience the tropical and urban living at the same time. Live near the clear waters of the Malapascua, Moalboal, or Oslob while having the industrial city's conveniences and popular destination within reach. Did you know?
10. Davao CityAmong the safest cities and best places to live in the Philippines, Davao has low crime rates that make it among the most livable cities in the country. Some of Mindanao's top educational institutions, including Ateneo de Davao University, San Pedro College, and the University of Mindanao are located in Davao. Its rich natural attractions and resources make it home to the many great beaches of the Philippines that are easily appealing to the digital nomad. Davao City is a progressive city too with its own bustling economic hub, big shopping malls, skyscrapers, while maintaining its rich flora and fauna. Did you know?
Key TakeawayWhat the best place for Filipinos in the Philippines is is dependent upon their individual preferences. A pensioner seeking a retirement community in the Philippines has different requirements that a digital nomad can meet. Among foreigners, the main activity is social interaction, entertainment and relaxation. Other foreigners are focused on cultural heritage as well as quality of life. All options have certain risks. Popular cities have more expatriate communities and higher rent prices compared to others. Although smaller, cheaper cities are laid-back and lack essential services. Finding your perfect city requires evaluating each city's potential pros and cons. Buildings and Resorts For Sale in Metro Manila and nearby provinces are available on our website. FAQsWhere is the best place to live in the Philippines?
The best places to live in the Philippines are Makati, Mandaluyong, BGC, Alabang, Paranaque, Tagaytay, Cebu, Davao Where is the safest place to live in the Philippines? The safest place to live in the Philippines is Davao City. Davao has managed to get recognition internationally as the only Philippine city ranked on CNN's list of "Asia's Most Livable Cities." Where do most foreigners live in the Philippines? Most foreigners in the Philippines live in Makati where many foreign corporations are located. What is the safest region in the Philippines? The safest region in the Philippines is Davao region. Davao is currently the third-safest city in Southeast Asia as of the year 2022. Where is the best city to buy a property in the Philippines? The best city to buy a property in the Philippines is in Laguna, a top choice for real estate investors for its accessibility to SLEX in Laguna also combines the convenience of urban living and the relaxed rural life. Laguna also grants quick access to holiday getaways in Tagaytay and Batangas. When is Kadayawan Festival celebrated? Kadayawan Festival is celebrated every year in Davao City during the month of August. Without a doubt, Mandaluyong City is one of the best cities to live in Metro Manila. With its strategic and ideal location, everywhere in the Metro is just within reach. Whether you're working in Makati or Quezon City, or sending your kids to school in Pasig, San Juan, or Taguig, it will take you just less than an hour on rush hours to reach your destination. During off-peak hours, you'd even be able to go around in less than thirty minutes. Shopping malls, groceries, and museums are also just a few minute drive away. Everywhere in Metro Manila is just accessible. Mandaluyong City is an excellent place for families to live in. World-class hotels and accommodations can also be found in Mandaluyong City. Here, you'll always have endless nearby sports and recreation places and countless restaurant options. Making sure that whenever you feel like going out, you are sure to find a new place to try. With these, we listed out Townhouses in Mandaluyong for sale that might just be the one that fits your family's lifestyle. Check them out below and if you're interested, message us. Let's get you ready for you Future Space. Mikko Mendoza Lead Broker of Futurespace Manila Real Estate Broker License No. 0004425 Mobile | Viber | Whatsapp | WeChat: 09178230530 Landline: (02)75045217 www.futurespacemanila.com Email: [email protected] Other Properties You Might LikeComfort. Convenience. Location. Security. Valle Verde is one of the most exclusive villages in Metro Manila. Consisting of six villages, Valle Verde is home to some of the country’s top athletes, celebs, and businessmen. It also has its own restaurant, café, and bakeshop. It has adequate sports facilities for archery, badminton, billiards, fencing, and tennis. Everything you need for your lifestyle is just within grasp. The village is nearby leisure, dining, and shopping areas like Capitol Commons, Estancia, Unimart, Sapphire Bloc, City Golf, Podium, and Landers - less crowded areas compared to other establishments in other cities making them convenient places to shop in. Valle Verde is also near central business districts, schools/universities, and churches. Always just a short drive away from BGC, Makati, Greenhills, Mandaluyong, and Quezon City. Living here, you'd never have to worry about missing that meeting or gathering you have to attend. Looking for a house in Valle Verde? Check out this house and lot for sale with pool. This 450 sqm 2 Storey Modern House for sale in Valle Verde has 4 bedrooms, 3 toilet and bath, 2 car garage, and a saline pool.
Want to check other properties by city or property type? Browse here: |
Categories
All
Archives
January 2024
|