Condo or House and Lot: Which is a better investment?

If you’re reading this article, you’re probably one of those people whose dilemma is not about the milk tea flavor to choose anymore, but rather, choosing the right investment for you. Though you were already decided to invest in real estate, a very wise decision indeed, but the problem is you’re having a hard time choosing between buying a condo or buying a house and lot.  

To help you and all readers out there. Here is a quick comparison between the pros and cons of buying a condo unit and house and lot. 

Advantages of Buying a Condo Unit 

1. Prime Locations 

Well, I think there’s no question regarding this one. Condominiums are located in the most progressive places in the country. Whenever you venture around the streets of Makati or BGC, you’ll specifically see condominiums rather than house and lot subdivisions. The reason for this is that vertical projects will occupy fewer spaces vs. horizontal one 

Condominium projects are highly accessible to malls, terminals, and even business centers. Most of the time, condo projects house commercial areas such as convenience stores in their building, making it easier for the owners to buy stuff, whenever they wanted.  

But besides its Metro Manila Projects, developers such as Bria Homes sees a big demand for condos living away from the hustle and bustle of the Metro, and to answer this demand, Bria Homes present Astra Vertical Villages, an affordable condo unit that features top of the line amenities!

2. Wide Range of Amenities 

As mentioned earlier, condo projects pride themselves on their beautiful amenities. Most condo owners use their unit as a source of income by renting it out for staycationistas.  

From pools, parks, gardens, and commercial areas, condo developers ensure that their unit owners will get what they paid for, and more. 

As a matter of fact, Astra Vertical Villages by Bria Homes, feature all of the above-mentioned amenities, plus guarded gates equipped with 24/7 CCTV! In addition to that is a reception area, whereas receptionist can verify all the guess who might visit you or unit.  

But wait! To further give ease of mind to their unit owners, Astra Vertical Villages has BIG parking areas! Though it may vary depending on its site location, the developer ensures to have a 4:1 house to parking slot ratio!

3. Easier to Maintain 

Though I think the title already speaks to itself, a condo unit is way easier to maintain than a house and lot. Condo dwellers only need to think about maintaining the unit itself. They don’t have to worry about cleaning the outside of their unit since condo admins got their back for that.  

Disadvantages of Buying a Condo Unit 

1. High Cost of Living 

The condo unit itself is already costly! The location is mostly the biggest factor in the cost of a unit. Another thing is, most of the condo units that you can buy are not fully furnished! So it will be the buyer’s responsibility for the unit improvement. 

Aside from the unit cost, you may also take into account the high association dues or condo fees. Those monthly fees are collected to its residents to cover the maintenance of the whole building, as well as guards, admins, and condo staff’s salaries. Condo Fees may also increase as time goes by! And it is also subject to a penalty whenever you failed to pay your monthly dues. 

2. Stricter Guidelines and Lack of Privacy 

When you purchased a condo, you cannot really do much improvement aside from the interior of your unit. Other than that, it is virtually impossible to have extensions. If you are planning to have a big family, a condo is not a good choice to invest in due to its given restrictions. Pets, usage of common areas, and repairs also follow a very strict guideline, well mostly for the easier maintenance of the building, but some condo project doesn’t allow pets at all! 

Aside from that, with condo units, you are attached to up to 4 neighbors! Privacy and peace may not properly observe since you’ll be dealing with neighbors, above, below, and on both sides of your unit!  

3. Smaller Spaces 

Though quite connected with Number 2, I think this one deserves to be highlighted! Condo units have virtually smaller spaces vs house and lots! The average condominium size in the country is less than 50 sqm, and the cheapest unit you can probably get can go as low as 18 sqm in floor size, making it almost impossible to even fit a 1 bedroom! And as already mentioned earlier, there’s no way you can add extensions since you don’t own any space outside your unit. 

Advantages of Buying a House and Lot 

1. Affordable and Full and Exclusive Rights to the Property 

I really think that this is the highest selling point of a house and lot, first is its affordability. Unlike condominium projects, house and lot developments have a wider variety of products. Developer such as Bria Homes Inc. offers socialized houses which are very affordable house and lot for as low as P3,034 per month that you can get through Pag-IBIG Financing! Other than that, the developer also offers economic houses which are still in the” affordable” bracket, economic houses can go for as low as P4,000 a month! And that is a very sweet deal, compared to a condo unit. Association dues or HOA Fees are also much cheaper in house and lot subdivisions. 

But besides its affordability, you can also get a full and exclusive right to the property once you already paid off the property! Whether it’s spot cash payment, or thru financing, once you fully paid your mortgage, you’ll get the TCT or the title of the property! How awesome is that? 

2. Sub-Urban and Rural Development 

Though some of the condo developments, such as Astra Vertical Villages already joined the suburbs market, you can find horizontal housing development almost everywhere especially in the sub-urban areas! Sub-urban areas are those developing cities and towns outside Metro Manila. Suburbs are always subject to government developments, and most of the suburb cities already have business hubs and large industrial companies. Thus, making it more practical to live since you can get a job right in your area while not having the burden of Metro’s traffic, pollution, and high cost of living. 

Bria Homes, the country leading mass housing developer built a reputation for developing house and lot projects in the countries’ most progressive and developing communities! Bria currently has more than 50 projects nationwide and will keep on expanding as long as every Filipinos demand affordable yet quality houses. 

3. Larger Spaces and More Privacy 

And yes, house and lot, offers larger spaces than condo units, a socialized house and lot such as Elyana Rowhouse of Bria Homes feature same floor area of most condo units that already cost 1M and above, and Bria Homes’ Elyana Rowhouse only cost 500k pesos! And aside from its floor area, Bria Homes follows a standard lot size, meaning to say that its homeowners also own space outside its property, that they can soon develop for extension, fence, even an additional bedroom! 

Disadvantages of Buying a House and Lot 

1. Higher Maintenance and Utility Cost 

Though bigger space is a pro, it might be accounted to a con as well because you have a bigger space to maintain! In addition, you are also responsible to maintain the spaces outside your house, especially those spaces included in your lot package, and since horizontal development are a large project, the maintenance staff of the subdivision might have a hard time covering the whole subdivision, so you might also be responsible to clean roads, drainage, etc…, in front of your house. Another thing is that bigger space also means a bigger need for electric and water consumption and big consumption of utilities means bigger financial burden! 

2. Site Location 

Since house and lot projects occupy big space, and Metro Manila’s lot costs are sky-high, it is almost impossible to find an affordable house and lot option in the Metro. That’s why developers push sub-urban development to give an alternative to the buyers but some of the people always prefer to live in Metro Manila. Hence, if you invested in a sub-urban house and lot, and you’re working in the Metro, you might be subject to the daily hassle of long commutes. 

Things to Consider When Choosing a Condo or House and Lot

Three key things you must consider when choosing to buy a condo or house and lot. First is your budget: just remember that house and lot is significantly more affordable than condos in suburban areas, while Metro Manila offers greater deals in condo units. Second is your lifestyle: the condo might offer a world-class amenity but your privacy and peace of mind might be a toll, while house and lot gives you more freedom and peace in exchange for higher time and money consumption to maintain your unit. And last, is location: if you don’t mind commutes, then you should look at suburbs to buy a house and lot, but if you want to literally wake up in front of your office building and you have a bigger budget, then a condo will be the best selection for you. 

BRIA Homes is a subsidiary of GOLDEN MV Holdings, Inc., one of the largest real estate companies in the country. BRIA Homes is primed to bring quality and affordable house and lot packages and condominium units closer to ordinary Filipino families. This is the goal that drives every single employee in the company, for which the ultimate fulfillment is seeing a client happily moving into BRIA’s homes. 

To know more, visit their website at www.bria.com.ph, like and follow “Bria Homes, Inc.” on Facebook, Twitter, Instagram, YouTube, Pinterest, Spotify, Viber Community, Telegram Channel, Kakao Talk, LINE and WhatsApp, or call 0966-277-5944. 

Written by: Carlo Ortega