Condominiums are located in prime locations – in business districts, near shopping malls,
churches, marketplaces, restaurants, schools and in where there are major routes public transportation. This would surely offer convenience and cost effective.
It is evident that a house has bigger space, you can do more with your property. On the other hand, when you own a condo unit, you have to settle with maximizing your space and you share common areas with other unit owners.
Maintenance, repairs and renovation:
Due it’s limited space, a condo has lesser expense on the maintenance, repairs and rennovation. Most often you would need to get permission from the management before you proceed.
For house and lot, cost of maintenance is high, specially if have bigger area where you have to hire gardener and house help to do the chores. But the good thing is that you have full control of your property, it gives you the freedom of what to do with it to your hearts delight.
Houses are priced at higher range than condo, considering it’s land component. Lower-range condominiums are often within the budget of first-time buyers and start-up families.
Although you may also find houses similar to the price of a condo, but location is in the suburbs and not so derirable neighborhood.