subject: Advantages Of Other Housing Types Other Than A House [print this page] Aside from the usual house that many Filipinos live in, other forms of housing has also become very popular among many Filipinos, particularly with the wealthy. Popular Philippines homes types such as townhouses and condominiums have also become very popular in the market, as well as renting apartments. So what are the advantages of buying a townhouse, condominium, or an apartment from owning a single-family detached house?
Advantages of buying a Townhouse
The advantage of owning a townhouse is the luxury it provides. Usual Philippines homes townhouses are found in exclusive complexes, often with high security, resort facilities such as swimming pools, gyms, parks and playground equipment. But the advantage of townhouses is the location. Although most townhouses in the Philippines are found in outskirts of a big city, some are also found in small footprints of a city, such as in Makati. This allows it to be within walking or mass transit distance of business and industrial areas of the city, yet luxurious enough for wealthy residents of the city. The disadvantage, however, is the cost.
Advantages of buying a Condo or an Apartment
The advantage of buying a condo or an apartment from buying a house is the cost. Condominiums and apartments are usually cheaper than that of Philippines homes or houses, particularly with townhouses. The advantage is that similar to most townhouses, condominiums and apartments are also located within reach of business districts and industrial areas of the city.
However, there has been questions about the difference of a condominium and an apartment. Its true that the building used as a condo is similar to that of an apartment building, which is usually consisting of multiple units. The only difference is the legal binding to its owner.
Condominiums are a form of housing tenure in which a unit is "owned" by an individual while other facilities such as hallways, elevators, staircases, lobbies, and other recreational areas are jointly owned as a whole by every unit holders. On the other hand, apartments are "rented" to tenants, meaning all units in an apartment building is owned by one or more entity. Hence, the difference of a condo from an apartment is the form of ownership. According to professionals, The same building developed as a condominium could actually be built someplace else as an apartment building.
Because apartments are usually rented, many may find apartments to be more affordable as a form of temporary residence. Apartments in the Philippines are usually rented by students. The advantage of a condominium from apartments, however, is the sense of permanence in terms of residence.
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