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Wednesday, July 5, 2023

Property Investment Faceoff: House vs. Condo - Evaluating the Pros and Cons

Buying your own home is a decision that undoubtedly ranks among the most critical choices an individual can make. Discovering the ideal space for your safety, comfort, and personal preferences is paramount when considering property investment. It must be a place where you can find solace, freedom, and a breath of fresh air away from the chaos of daily life. But the question that looms large for many is whether to invest in a house or a condo unit.

The certainty of buying a property during a recuperating economy is a valid concern. However, according to Collier International's latest report, both the local office and residential property sectors are expected to recover from the disruptions of the past year. The gradual reopening of the economy will support the demand in the residential sector, including pre-selling and secondary markets.

So, if you are on the fence about buying your own space, this is your sign to invest in yourself or your family. If you’re seeking your first or next property investment and you’re still not sure which type of realty to get, then this can be your guide!

Cost-efficient investment 

Cost efficiency is subjective when it comes to owning a property. Condominiums are typically less expensive than houses due to their size, and their maintenance is usually cheaper as you are only responsible for the interior of your unit. With association fees in place, you won't have to worry about exterior maintenance or administrative assistance. Condos have a dedicated Property Management Team consisting of professionals who are specifically trained to oversee the day-to-day operations of the property. Their primary responsibility is to ensure that all amenities, facilities, and common areas are kept in optimal condition. This includes regular maintenance, repairs, and upgrades to uphold the quality and functionality of the condo. 

While houses provide homeowners the freedom to customize a larger space and transform it into your ideal home, you will be responsible for all maintenance and repairs. Regardless of whether you choose a house or a condo, it is essential to have a realistic budget in mind before beginning your property search.

A space that breathes life

Leading a busy life gives us limited time for leisure so it’s important to check on the amenities incorporated into the spaces you’re eyeing for. Condominiums offer a plethora of state-of-the-art functional facilities such as swimming pools, fitness gyms, kids’ play areas, game rooms, and lounges. Communal areas provide condo owners with an abundance of ways to relax and unwind without having to travel too far from their residences. These communal spaces also foster interaction among residents, enabling them to forge connections and establish a sense of community. 

On the other hand, houses may not offer as many amenities to homeowners. Depending on the type of lifestyle you want, the amenities incorporated into the spaces play a crucial role in enhancing your quality of life.

Security and convenience 

Security is a top consideration when looking for a place of your own. As condos have shared spaces such as lobbies, hallways, parking, and amenity areas, they often have dedicated security personnel and 24/7 surveillance systems in place. In contrast, houses have individual entrances and private spaces, which may require homeowners to implement their own security measures. Moreover, condos often have controlled access points, such as key card systems and intercoms. These help regulate who can enter the building and add an extra layer of security. Houses, on the other hand, rely on individual means of access control, such as locks, alarms, and security systems installed by homeowners. 

Convenience-wise, condominiums are usually strategically located in prominent business districts and mixed-use communities, offering unparalleled convenience to their owners. These prime locations give residents effortless access to a myriad of lifestyles and commercial establishments. From trendy retail outlets, cozy cafes, and vibrant entertainment venues, condominium dwellers find themselves amidst a thriving urban ecosystem.

As there are many factors to take into consideration when deciding between purchasing a house or a condo, it is important to find a place that not only meets your needs but also aligns with your desired lifestyle. For those leading a fast-paced life and seeking convenient access to essential amenities and recreational spaces, a condo unit presents itself as a favorable and suitable investment.

Redefining City Living 

MidPark Towers, located in the heart of Aseana City, is the epitome of sophisticated city living. With its world-class amenities and convenient access to transportation linkages, lifestyle centers, businesses, and services, it offers a luxurious retreat from bustling city life. The property is also just a 10-minute drive from Ninoy Aquino International Airport via NAIAx and is near the Entertainment City, home to Solaire Resort and Okada Manila.

Developed by Aseana Residential Holdings, Corp., MidPark Towers is a four-tower residential property set for completion in the last quarter of 2023. The predominantly glass façade of the four towers exudes an elegant and sophisticated ambiance. The units are spacious and livable, ranging from studios (40 sqm +/-) to three bedrooms (120 sqm +/-), offering endless possibilities for creating a perfect home. MidPark Towers also provides a host of amenities to support growing families and inspire the imagination and creativity of children. From kid's play areas to outdoor pools, fitness gym, and private and business lounges, it offers a truly rewarding experience of luxury and comfort. 

Make the best decision for your future and invest in a home that exceeds your expectations at MidPark Towers.

For more information on MidPark Towers’ latest news, events, and updates, visit their website at www.midparktowers.com.

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