Advantages And Disadvantages Of Different Types Of Houses
There are many types of residential philippine real estate available in the market today. These include the typical house, townhouses, and condominiums. Each type of housing has their advantages and disadvantages over the other. This is the reason why Filipinos have different opinions regarding their choice of residence. So what are the advantages and disadvantages of living in one of these types of housing in the Philippines? Houses Owning your own house can be very beneficial, especially compared to renting an apartment. Having your own house gives you the right to modify the building and land as you please, although this may sometimes be subject to government, homeowner association, and deed restrictions. Having your own house also protects you from eviction as well as the right to occupation which can be inherited. However, there are several disadvantages to owning a house. The house you own as well as the land it sits on is usually very expensive, which is why many Filipinos would rather rent an apartment than buy a whole house. There is also the combination of monthly mortgage, insurance, and property tax payments which is normally greater than monthly rental costs. Compared to tenancy, owner-occupiers are sometimes seen as more responsible toward property maintenance and community concerns, since they are more directly affected. Townhouses Townhouses are one of the most popular types of residential philippine real estate available in the market. One popular trait of townhouses in the Philippines are its luxury. Most townhouses, even in those found in urban areas, are known for their luxurious residence. Townhouses complexes, on the other hand, are known to offer different kinds of amenities such as swimming pools, gyms, recreational parks, and many more. The only disadvantage of townhouses is its cost. Most townhouses available in the market today are known for their expensiveness. Usually, townhouses are known only for the wealthy. Another is that residents are now allowed to modify the exterior of their townhouses. Although each townhouse is individually owned, changes on the exterior of their townhouse is normally not permitted. Condominiums Condominiums are among of the most popular residential philippine real estate today. What made it popular was because of its affordability compared to buying a townhouse or a simple house. There are two types of condominiums available in the market today, each having their own advantages and disadvantages. These are the condominium buildings and condominium complexes. Condominium buildings are popularly known for their locations. The advantage of owning a unit from a condominium building is that it allows you to be within walking distance or within mass transit distance from major business districts and commercial areas. However, most of these condominiums are expensive and that they only offer residence as well as little luxury near business districts. Condominium complexes, on the other hand, is known for its luxury and amenities which are only found in expensive townhouse complexes. For a fraction of the cost of owning a townhouse, residents could easily enjoy its amenities. However, most of these condominiums are found outside of a city, particularly in provincial areas. This makes it harder for residents to enter a city, especially because of rush hour. But it does provide the luxury not found inside a big city.