Owning a House in the Philippines: Advantages and DisadvantagesAre you planning to buy a real estate property in the Philippines? Whether for investment or to have a place you can call your own, house-and-lot remains the top choice for homeowners. Despite the big price difference, many still prefer to invest in a house and lot over condo units. Most Filipinos invest in house-and-lot properties, especially for those with bigger families or for future expansion. But is it the ideal space for you, and can you handle all the responsibilities it entails?
If you’re still unsure and having second thoughts about whether or not you should invest, read on as we’ve created a list of the advantages and disadvantages of buying a house and lot in the Philippines Advantages and Disadvantages of Buying a House and Lot in the PhilippinesAdvantages 1. Wider Living Space One of the top reasons why Filipinos like a house and lot is the wider living space. Compared to condos, house and lot property offers a wider space, from the living room, dining area, and kitchen to bedrooms and bathrooms. It’s also a great deal if you find one with a garage, dirty kitchen, laundry area, garden, and yard. 2. Full and Exclusive Rights of the Property Investing in a house and lot in the Philippines is ideal for those who want exclusive rights to their property. This means you can do whatever you wish with your property, given it complies with the National Building Code of the Philippines. Repaint the walls, add another floor, or build extra bedrooms. Condo owners don’t have this kind of freedom. 3. Enhanced Privacy If you value peace and privacy, consider investing in a house and lot. In general, living in subdivisions is more peaceful than condominiums. A single-detached house means you’ll have more privacy since your neighbors are distant from you. In addition, you don’t share walls, ceilings, and floors with your neighbors, making your life more tranquil and private. 4. Long-term Investment Owning a house and lot means your property will consistently appreciate value. While condos are valuable investments, land appreciates more than residential buildings. If you invest in a condo, you only own the unit. But if you buy a house and lot, you own the structure and the land. Thus, it is a good and valuable long-term investment. 5. Possible Development in Suburban Areas Living in Metro Manila is a dream for many as it offers countless opportunities. But in recent years, many provinces, including Baguio, Cavite, Laguna, Rizal, and Cebu, are experiencing rapid development. These suburban areas are slowly becoming urbanized. Also, these provinces offer cheaper real estate homes. So, buying a house in these areas is more economical than investing in the metro. Disadvantages 1. Difficult to Maintain and Costly On the downside, buying a house and lot in the Philippines means more maintenance. Since you have exclusive rights to the property, you and you alone are responsible for its maintenance. Although you can hire professionals to do the work, you’ll have to shoulder all repairs and maintenance costs. 2. Higher Utility Expenses Another drawback of living in a larger space is higher electricity and water usage. If your house has a yard and more bedrooms and bathrooms, you’ll also need more water and electricity to use and clean these areas. As a result, homeowners pay higher utility bills than those living in condos. 3. Longer Commutes Condos are often built near transportation links, shopping malls, office buildings, hospitals, and schools, making them a convenient choice for students and professionals. On the other hand, house and lot properties are usually located in suburbs or areas far from business districts. Therefore, living in a house and lot property demands longer commutes or travel time, especially with the Philippine's high traffic congestion.
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