Pros and Cons Of Buying a House And Lot VS a Condo

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 Lot

1. 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 Lot

1. 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 Unit

1. 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 Unit

1. 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.

Buildings

Makati City

BGC | Fort Bonifacio

San Juan City and Mandaluyong City

Quezon City

South of Metro Manila

FAQs

Which 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.

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