Congratulations on finally deciding to invest in a home! As with other first time homebuyers, you are doing the right thing on researching first before deciding which among the properties in the market to acquire.
First on the list should always be location. Find a home that is safe and accessible that will support your city-living needs. Next to look for are amenities. Are you more of a nature-, laid-back person or an energetic, eventful one?
But some of you may be stuck on one common but difficult decision. Do I put my hard-earned money on a house-and-lot, or on a condominium? What’s the difference, the pros, and cons?
To blatantly answer which among the two should a home seeker buy first, the answer would be a vague “it depends.” But because we at Empire East have already sold hundreds of condo units for the past 23 years, we thought we’d come up with a list of reasons why some of our first-time condo owners picked a unit instead of a house and lot:
- A condo will always be nearer the workplace than any currently available house and lot would.
Today, we can seldom find any available houses or lots on major thoroughfares, like EDSA. Most of the houses and lots sold in the market are already far from these main veins of transportation and are relatively far from the Central Business Districts.
But it is common to see condominiums that are even directly connected to the transit systems. Such are Pioneer Woodlands in Mandaluyong City, which directly connects to the Boni Ave. station of the MRT3 and San Lorenzo Place in Makati City that is bridged to the Magallanes station. These condos are able to answer that need of bringing the city dweller closer to these instruments of transportation for a more convenient city experience.
- Condominium units are easier to maintain.
For busy moms, businessmen and office workers, this is a huge “yasss!” At the start of your family-rearing years, or perhaps at the prime of your career, you need all the time in the world to balance everything that needs to be done.
Be it the schoolwork of your kids, or that report your boss wants first thing in the morning, or simply that alone time for a book, the gym, or cooking a meal. In short, having a home that is spacious enough to live in but also easy to maintain is a big bonus for city-living folks.
- You get the perks of living in a home with a pool, a gym, jogging trails and gardens.
Most of our homebuyers have always dreamt of having their own pool. And this is one thing they can enjoy with most of Empire East’s resort-type developments such as The Rochester along Elisco Road in Pasig City, and soon, Kasara Urban Resort Residences on Eagle St., Pasig City.
With a vacation-everyday lifestyle, city dwellers find it easier, and more convenient to change from fast-paced to slow-paced upon entering their homes after a busy day. Truly, convenience and relaxation are huge reasons for owning a condo unit!
- Condo units are priced more reasonably compared with houses and lots that cost a fortune.
Depending on the size of the unit that you want, most condo properties – particularly those on the pre-selling stage, are being offered on the market for a considerably lesser price than current day house-and-lot packages.
Aside from that, real estate developers of condominiums mostly offer flexible payment terms so that the down payment for a property is not required for reservation, and the monthly amortization will be brought down as well – for a certain period.
- Condo units have a higher income-generating potential
Because the city has a fast-paced environment, and more people are willing to do anything to cut their travel time to work by half, most condo owners opt to make their condo units an income-generating venue by having it rented out to others – mostly to office workers in need of space near the CBDs. Because of this, more money comes in for the owner of the unit.
Some of this information has been compiled to give you a general idea of why you too could consider owning a condominium first. If you want a safe, convenient, and reasonably priced investment that may have to potential to yield a high return, Empire East could help you handpick the condo that’s right for you.
For more information, call 02-810-3333 or chat with us on http://www.empire-east.com.
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