Thursday, October 3, 2013
Whether you’re single or starting a family, a first-time buyer or someone who has been around the homeowner’s block looking for change, deciding to buy a home is no small matter.
With all the billboards advertising various property developments in and around Metro Manila, one of the most basic questions a homebuyer will have to grapple with is whether to go for a single-family house or a condominium unit.
In the Philippines, the popularity of condo-living is on the rise. Still, the majority of those contemplating homeownership now have been bred on the idea that buying a house and owning the land it sits on is the best way. The conflict is quite easy to understand.
An honest evaluation of your needs and financial capabilities will help make the choice clearer if not easier to make. By looking at a list of considerations, you can narrow your choices, contemplate and decide on the tradeoffs (compromise is unavoidable but it doesn’t have to be painful), and see things from various points of view.
Here are some factors you need to think about: