The Philippines is a country with the iconic natural resources that even the rest of the world envies. Aside from the natural gem that it boasts, it hosts hospitable, respectful and loving people that tourists from all parts of the globe came to adore. With that said, some people choose to stay in the Philippines and settle down in its tropical and carefree ambiance; thus, increasing the total population of the country to 107, 734, 775 and counting.
Most of the time, people from the different regions of the country would move to the Metro in hopes of finding their fate and a good life. Thus, creating a ruckus of housing chaos because the city is now overpopulated. In light of this matter, typical residential options like owning a house and lot is a limited choice since it is expensive and only a few real estate properties are for sale in this location. To solve this problem, condominiums such as those in Capitol Commons are built to provide shelter without compromising to the already low mass area in the Metro.
What are the most common options you’ll have to choose from if you are looking for a property? At the same time, what are the pros and cons of choosing it? Read on below to find out!
Condominiums
You can commonly see these fancy high-rise or medium-rise buildings that are making a profound impact on the real estate industry nowadays. You own space or a portion from a building; it can either be a studio-type area or a two-bedroom unit wherein you share standard amenities with other residents as well.
This private option is ideal for couples, single individuals or persons that are just renting out an area that is near their job locations. They can enjoy luxurious functions like shopping centers in the building, swimming pools, spas, restaurants and many more. The downside to this choice is the fact that it can be quite expensive to own. If you’re not into the lifestyle of living the high-life and its costs, it is best to avoid such extravagant choice.
Townhouses
Townhouses are also referred to as row houses. This residential option provides you with a home of your own. However, all the residents share the same wall or have the same color scheme. These are most evident in subdivisions. This is an ideal choice for families that are just starting to settle down or the elderly that needs companionship or people around them.
Unlike condominiums, this is a cheaper alternative. It offers ample space and the comfort of living peacefully. But, it also has a negative aspect. Since you’re (physically) near with other neighbors and residents, chances of being disturbed and safety concerns would arise.
House and Lot
This is an option that is a classic to every Filipino out there. You purchase the land and build a house that is according to your engineering and architectural plan or purchases a property that includes the land and a pre-made home that you and your family can enjoy. In a recent study, house and lot choices like a duplex, bungalow and single detached or attached houses had surges concerning price rates. This expensive option comes with independence and freedom that most families would enjoy on a long-term basis.
It is true that a real estate property is the most valuable investment one family could have. But, it is essential to know that you can always choose what is suitable for your lifestyle and budgetary needs.