• Home
  • About Us
    • Our People
    • KMC 10th Year Anniversary
  • Services
    • Transactions and Advisory Services
    • Landlord Representation
    • Investments
    • Research and Consultancy
    • Offshoring Corporate Services
    • Asset Management
    • Residential Services
    • Serviced Offices
    • Project Management
    • Hotels and Leisure
    • Retail Services
    • Valuation & Appraisal Services
    • Industrial And Logistics Services
    • Data Center Services
  • Resources
    • EpicSpace
    • Philippines
    • Case Studies
    • Testimonials
  • Research & Insights
  • Careers
  • Contact Us

KMC Header

KMC Savills
PH (+63) 2-8403-5519
[email protected]
  • About Us
    • Our People
    • KMC 10th Year Anniversary
  • Services
    • Transactions and Advisory Services
    • Occupier Services
    • Investments
    • Research and Consultancy
    • Offshoring Corporate Services
    • Asset Management
    • Residential Services
    • Serviced Offices
    • Project Management
    • Hotels and Leisure
    • Retail Services
    • Valuation & Appraisal Services
    • Industrial And Logistics Services
    • Data Center Services
    • Hub and Spoke
  • Resources
    • EpicSpace
    • Philippines
    • Case Studies
    • Testimonials
  • Research & Insights
  • Careers
  • Contact Us
Inquire Now
List your property

Should You Buy a Condo or a House?

https://kmcmaggroup.com/research-insights/2013/should-you-buy-a-condo-or-a-house/
Houses Vs Condos,Tips And Advice,
Should You Buy a Condo or a House?

Should You Buy a Condo or a House?

KMC Savills

Posted on Tuesday, November 19, 2013 Friday, May 15, 2020
  • Home
  • Research & Insights
  • 2013
  • Should You Buy a Condo or a House?
Should You Buy a Condo or a House?

This is one of the issues I often encounter with many of my clients, especially first-time homebuyers. Owning either of the two properties has its own advantages and disadvantages, and often, the choice boils down to the buyer's goal in purchasing the property as well as his or her lifestyle and priorities. In case you are also experiencing the same dilemma, I might be able to help you decide by listing down the pros and cons for each type of property.

 

CONDOS

HOUSES

Price: Because they are centrally located, condos cost more per square meter. For example in Makati, average rental rate for luxury condos is already at Php 646/sq. m. Monthly dues for a condo also cost more than in a subdivision.

Price: House and lots, especially in areas that are a few hours away from the city center, are more affordable. For example, a Php 2-million budget can already buy you a house and a lot in some areas, while in Manila, this is just the price of a 21 to 29 sq. m. middle-end condo.

Location: Several high-rise condominiums are located in central business districts, close to the city's main transportation (trains and buses) and office areas.

Location: It is difficult to find a vacant lot for a home that's conveniently located in the city. The trade-off for having a nice house is to spend more on travel expenses.

Privacy: While some ultra-luxury properties can offer privacy for tenants, this also means you have to pay more. In general, however, privacy is difficult to achieve in a condo.

Privacy: This is more possible for single-detached homes, especially if you choose locations that are not densely populated.

Investment: For investors who wish to have an income-producing investment in a short time, condos would be their best bet. However, condos are only good for 50 years, so I would advise against investing in one if you want to utilize the unit for a lifetime.

Investment: Its yields may not be achieved as quickly as in a condo, but a house is still ideal for long-term investment -- especially for individuals and families who plan to live in it and own it for a long time.

 

The bottomline
In choosing between a condo and a house, ask yourself these questions:
  • Which life stage are you in right now? Are you single, married, or retired? If you are thinking of settling down, you might want to consider if you can properly raise kids in your chosen location.
  • What is your goal in purchasing a property? If it's an investment, make sure you check the ongoing trends in the area and if it is easy to lease it out or to resell it in the future.
  • What is your budget? If you don't have enough savings yet or incapable of paying a mortgage, perhaps renting a condo would be a better choice.
  • Where do you want to be? Now this is a question for expatriates or Filipinos living abroad. Are you staying in the Philippines for good? Or are you looking to simply invest in a property that you can use while you are here? The answer will help you determine if owning or leasing a condo or apartment in the city or purchasing a luxury house in villages such as McKinley Hill, Ayala Alabang, Forbes Park, etc. is the right way to go.
View all articles

Written by

KMC Global Research
KMC Global Research
TAGS:
  • Houses Vs Condos
  • Tips And Advice

Latest Posts

3 Reasons Why Malate Manila is the Ideal Area for Manpower Agencies

Thursday August 11, 2022

A Testament to How Resilience Triumphs over Adversity: Manta Corporate Plaza launches in Arca South

Monday August 8, 2022

5 Reasons Why the Philippines is the Ideal Data Center Hub in Southeast Asia

Wednesday June 29, 2022

The Rise of Neighborhood Malls: How Malls are Changing in the Post-pandemic Era

Wednesday August 3, 2022

KMC Contact Us

How can we help?

KMC is an award-winning real estate services company. Headquartered in Bonifacio Global City, with over 150 employees involved directly in transactions for tenant representation, landlord representation, investments, and residential services.

We are recognized as the Best in Class Real Estate Agency in the Philippines and an exclusive international affiliate of Savills – a leading global real estate service provider listed on the London Stock Exchange (SVS: LSE). This provides the firm and its clients access to a global network of over 700 offices and 30,000 real estate experts throughout the Americas, Europe, Asia Pacific, Africa, and the Middle East.

Learn more

KMC Newsletter

Sign up for the latest Research & Insights

Get in Touch

(\+$I63,) 2+P\-XU;84€0C#3/\-5Q5-1=9DV [email protected]

Follow Us

KMC Footer

KMC Savills
DISCLAIMER: The information, photographs, images, landscapes, floor plans and the like contained on this website are for general information and illustrative purposes only. Credit remains to the owner of the photographs and images. KMC does not claim ownership, income, control and use of the photographs and images and does not assume responsibility for any kind of damages (direct or consequential) in relation to the use of such information, photographs and images on this website.
© 2021 KMC. All rights reserved. KMC is the leading real estate services firm in the Philippines.
Terms of Service • Privacy Policy
Monday: 09:00:00 - 18:00:00
Tuesday: 09:00:00 - 18:00:00
Wednesday: 09:00:00 - 18:00:00
Thursday: 09:00:00 - 18:00:00
Friday: 09:00:00 - 18:00:00