Are you thinking of buying a house?
Do you know which house types do you want or can afford?
Do you know what’s available in your area?
These are some of the most common questions you are likely to ask especially if you are a first-time home buyer.
Buying a real estate property is an exciting and challenging experience for many Filipinos. But with so many types of homes available in the Philippine real estate market, it may be a bit difficult to find the one that would satisfy your taste, budget, preferences and lifestyle.
So, which one is the right one for you? We list down the most common types of houses in the Philippines that you may encounter while searching for a home.
1. CONDOMINIUM
What is it? A condominium consists of a unit space in a building or a real estate development. This can either be a studio-type home, or a unit that has one, two, to three bedrooms. Each unit can be owned by different owners and have individual condominium titles. As a condo owner, you share interest and access in the building amenities and other common areas. These project developments are mostly found in urban cities and central business districts.
High Rise Condominium
Pros:
This is popular for real estate investors who wish to earn rental income. These are best if you invest close to schools for your kids, and/or close to your place of business. Condos for rent or sale in cities like Taguig are favorites to homebuyers simply because of the convenient living experience it offers. Shared amenities allow you to enjoy facilities like swimming pools, gyms, and playgrounds without thinking of maintenance.
Cons:
Location and size plays a key influence on the price of a property, so expect to pay out a substantial amount when buying one, especially on a home loan. Condominiums have a lifespan of 50 years, and could present problems for homebuyers who are looking to live in retirement in a condo. Monthly association dues could also put a dent on your household expenses, especially if the price of amenity upkeep increases.
Mid-Rise Condominium
This type of condominium can be up to 10 floors high. Mid-rise condos allow urbanites and professionals working in the city to enjoy the convenience of condo living and still feel like living in a laid-back community.
2. TOWNHOUSE
What is it? Also known as a townhome or a row house, this is a style of housing where similar homes are in a row and share a common wall.
Pros:
A townhouse can provide the comfort of a house and lot plus the convenience of condo living. It offers just the right size of living space per household member. It is less expensive than a house and lot.
Cons:
Although most townhouses for sale are well-insulated, residents will still need to be mindful of the noise to avoid disturbing the neighbors. Unlike a house and lots, owning a townhouse will limit you to make home improvements that may threaten the uniformity of the housing complex’s building structure, like solar panel roofs.
#3 HOUSE & LOT
What is it? This type of home is the preferred real estate property by Pinoys. Literally speaking, you will own both the house and the land where it is built.
Best for:
Growing and large families, retirees
Pros:
Buying a house and lot for sale gives homeowners more freedom and space to move around or make home improvements. Owning a home also provides a sense of privacy not achieved in a condo. Homeowner’s association fees are only applicable when your house and lot is in a gated subdivision. As much as possible, get bigger lot area (depending on the budget) to have an extra space for parking and gatherings.
Cons:
A house and lot for sale in a gated subdivision is more expensive, particularly if located within or near the city centers. It is more high-maintenance than any other types of home in the Philippines because you will be responsible for maintenance, repairs and improvements. For homeowners whose homes are built on vast patches of prime land, you’ll be paying more taxes as compared to a townhouse or a condo.
There are different kinds of houses and lots for sale in the Philippines:
Bungalow
This is simply a single-storey house with all the rooms located in the same floor, and that is in the ground floor. It is suited for families with members who have impaired mobility such as your elderly relatives (i.e. lolo and lola) that will find it difficult to take the stairs.
Single-Attached
For this type of house and lot, one side of your house is attached or built directly at the side of your lot. If your house would, there would be a big space on the right, and vice versa. Usually space at the back and front exist too. It is similar to a duplex, except units would be side by side only.
Single-Detached
Single detached means that your house is detached from any side of the lot. Basically, there is an open space on the sides plus the front and back, and your house is in the middle of the lot.
Duplex
This is a single building that contains two housing units. They may be side by side or up and down, depending on the architectural design
Triplex
This type of building is similar with the duplex, but instead of two, there are three housing units in one building
Multi-level
This kind of house and lot for sale is typically the big ones located in gated subdivisions. Since you own the entire perimeter on the property plus the house, you can do whatever you want with it.
We have been advocating that before you even start searching for a house, it is best to take an honest look at your finances unless you are paying Spot Cash.
Of course, once you have already figured out how to finance a house and you are ready for a long term commitment as a result of becoming a home owner, now is the right time to search for that home. And as you search, bear in mind the following house types that you are likely to encounter:
1. Bungalow vs. 2-Storey House
These are all too common in the local housing market. A bungalow is simply a single-storey house with all the rooms located in the same floor; that’s the ground floor.
You are unlikely to find a house design beyond the 2-storey — 2 floors. But there are rare designs that have extra room at the attic or some have the so-called mezzanine floor.
2. Single-Family vs. Multi-Family
A single-family dwelling unit is a house that clearly has its own lot — with spaces probably at the front, the sides and at the back of the house. In other words, it is a house that stands on its own lot and offers space and privacy to the home owner. A nice, single family house will likely have its own lawn and extra space for car garage.
A multi-family house is one that is attached to each other at the sides. Some examples of multi-family dwelling units are row houses, apartments, condominium units and town houses.
3. Detached vs. Attached
A completely detached house has lot spaces at the front, at the back and at both sides of the house. This type of house is the most preferred by home owner since it offers the most privacy and they may install fence in all sides to secure the whole house. You are most likely to find this type in areas where the price of land is cheaper.
An attached house is one where one side of the house is attached to one boundary of the lot where the house stands. That side is most likely to have a firewall that separates it from the other house next to it.
In Conclusion,
As you begin looking around for a house to buy, you will discover the some houses fall under the combination of the above house types. For example, you will see a 2-storey house which is also single-attached.
The above categories serve as useful guide in understanding what type of house you will encounter in the local housing market in the Philippines.
So, which type of house is good for you?
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