When you’re in a position to buy real estate, you know you’ve made some good life decisions so far. And if you’re deciding to invest in either a house or condominium, it’s hard to go wrong with either in all honesty.
But everyone has distinct lifestyle considerations. Overlooking that simple fact can make a real estate purchase feel more like a misinformed investment rather than a key milestone to celebrate. When you’re buying a new home, you should feel like you’ve picked the right one to settle in.
So what are the pros and cons of buying a house over a condo — and vice versa? In the current state of Philippine real estate, is one option a better deal than the other?
Let’s find out.
When it makes more sense to buy a house
✅You want more living space.
Getting a house is a no-brainer if you need that extra space. On average, the typical housing lot size in the Philippines can range from 70 square meters (sqm) to as much as 800 sqm. You’ll have more space for a variety of amenities, from outdoor dining areas and expansive yard space to shaded patios and dedicated entertainment rooms. Plus, in the Philippines’ family-oriented culture, many of us enjoy inviting extended family over for birthday parties and holiday get-togethers. A spacious home like this one, is perfect for those quality moments with loved ones.
✅You’re looking for a stable investment
Homeownership comes hand in hand with land ownership. So it’s no surprise that buying a house and lot in the Philippines is one of the most stable financial investments you can make. Generally speaking, a house with its accompanying land tends to appreciate more in the long run. In the 1950s, a lot in the exclusive neighborhood of Forbes Park, Makati didn’t cost more than ₱30 per sqm. Fast forward to the 2020s, that price tag has jumped to around ₱560,000 per sqm.
✅You want to do home improvements.
A house gives you more freedom to make future customizations. Since you own the entire structure and the land it sits on, it essentially becomes a broad canvas where you can express not just your living preferences but also your sense of style. Despite the fact that you’d have to spend more, the ability to improve your home also has a net positive effect on its future value — something which will come in handy if you decide to sell the property later on.
✅You want greater privacy
A standalone house doesn’t share walls or common areas with another structure — unlike a condo unit. Of course, the level of privacy you’ll have depends in large part on the location of the house and lot. For instance, a house in a secluded village or neighborhood will have a degree of privacy that’s hard to replicate in a relatively more crowded setting.
Potential deal-breaking factors when considering a house
There are some tradeoffs you should be aware of before buying a house. Some of these factors may be deal breakers for you, depending on where you’re coming from.
- Potentially unsuitable location. Lot location plays a big part in your buying decision. Natural hazards like flooding and earthquakes may be risk factors in certain communities. We Filipinos are especially wary of low-lying and watershed areas that experience extreme water level surges during the rainy season.
- The higher price tag. Buying a house is generally more expensive than buying a condo. It’s not uncommon for lots that are over 100 sqm to fetch anywhere between ₱10 million to ₱25 million. In contrast, a 70-sqm 2-bedroom condo can go for ₱7 million. However, exact figures will vary depending on location.
- Maintenance and repair responsibility. When something breaks down in the house, it’s on you to get things fixed — either through a DIY approach or hiring professionals. While you’ll most likely choose the latter, you’ll still need to do quite a bit of work, from researching the best providers to work scheduling and securing permits (if needed).
- Responsibility for home security. Although many neighborhoods have security guards or barangay tanods patrolling the area, you’re primarily responsible for the security of your home. So you’ll need to invest in proper fencing, security alarms, CCTV cameras, and potentially a smart home security system.
When it makes more sense to buy a condo
✅You prioritize urban convenience.
Typically located in urban centers, condos offer you a compelling option if you value quick access to modern amenities. Just doing a quick Google search, you’ll see several developments that are within striking distance from shopping malls, restaurants, laundromats, specialty grocery stores, museums, parks, and so much more attractions.
✅You want a relatively affordable home option.
Condos are a good option for those who are a bit more price conscious, especially first-time home buyers. You can find condos for sale in the Philippines ranging from ₱5 million to ₱13.5 million, like this condo listing in Cebu. For comparison, buying a house and lot will require you to spend at least twice that lower price range.
✅You want easy access to premium amenities.
Condos are sought-after for their impressive roster of amenities. You’ll find swimming pools, fitness facilities, well-maintained gardens, executive function rooms, tennis courts, and even private helipad access — for some of the most high-end developments, like The Proscenium Residences in Rockwell.
✅You want less maintenance responsibilities.
Owning a condo also means that you don’t need to worry about certain home maintenance activities. A condo’s homeowner association (HOA) will usually manage building facade work, window cleaning, landscaping, pool cleaning, lobby maintenance, and major structural repairs to common areas.
✅You want less responsibilities for security and safety measures.
Similarly, the HOA is also tasked with procuring CCTVs, hiring 24/7 security personnel, and installing fire alarms and sprinklers. With a condo, you don’t need to spend time and effort to take care of these things yourself.
Potential deal-breaking factors when considering a condo
Condo living also has its drawbacks. Go through the following caveats to see whether or not owning a condo is in the cards for you.
- Limited space and privacy. Condo living space can range anywhere from 15 sqm (studio unit) to 100 sqm (multi-bedroom unit). A unit will also have shared walls with another unit, which may be a problem if sounds and noises easily go through.
- Higher HOA dues. Condo ownership generally entails higher HOA monthly dues to cover expenses on amenities and essential services. Occasionally, special assessments may also be done (on top of monthly HOA dues) to repair certain areas of the condo premises that have deteriorated over the years.
- Less control over the property. Condos have several restrictions on how you can make use of the property. Each condo HOA will have specific rules on making improvements to your unit, pet ownership, short-term rentals, and even down to the color of your window curtains. That last one is one of the easiest ways to get cited for a condo violation — total bummer!
- Potential overcrowding. Since condos are usually located in urban centers, overcrowding is a very real concern you may experience. Long elevator waiting times and congestion in common areas — especially when they become regular occurrences — are some of the signs of condo overcrowding.
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