June 10, 2014

Condo Unit or House and Lot?

During our recent visit to Baguio, we were billeted in a hotel which is actually situated inside a commercial building.  Aside from the hotel, you can also find some condo units.  I think the owner of the hotel and condos is only one. There is an office beside the hotel lobby where you could inquire about owning condo units.

I wish we have one condo unit in Baguio where we could stay for vacations.  Oh well, that's a big dream! Kidding aside, I was actually thinking if it's better to own a condo unit than a single detached residential house.  We've actually invested on 3 properties but owning a condo never crossed my mind.  I am actually curious if owning condo unit would be far better than a residential house and lot.  Some friends said it's more practical as condominium is more secured and comes with a complete package.  Most have swimming pools, park, club houses, etc but the only downside is that you have to pay monthly dues.  Aside from that, there is no opportunity for expansion as you just practically own one fixed space   Also, if you want to have your own garden, it's not quite possible as you don't actually own a yard.

However, living in a condo also have it's own advantages.  I guess a condominium unit is easier to manage and maintain and you can easily go on an out of town or out of the country vacation without worrying much on who would look after your home as the entire building is secured and well guarded.  Because of these points, I am also tempted to own a condo, if given the opportunity and resources, of course.

For most company workers, owning a condo is much easier than building their own homes as there are so many real estate developers who are selling out condo units at a much affordable price with greater options and easy payment schemes.  I am not sure though for miami condos for sale.   

As a property owner myself, I also see the advantages of having single detached houses as we could do what we want with the property.  Having projects for improvements each year also make us inspired and fulfilled.  Anyway, whether you want to own a house or a condo, what is important is we know our goals and we know exactly what we want so there will be no regrets in the end.  After all, owning our own home sweet home is always everyone's dream.


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