House and Lot Versus Condominiums
There's a lot of talk, debates and discussion on which is better to live in, house and lots or condominiums. Well for me it really depends on what you are buying the property for.If you want to use the property as your primary residence and would want to give it as an inheritance for your children, then I would probably agree that getting a house and lot would be a wiser choice.
For someone who would buy a property as an investment with the purpose of renting it out, then I would agree that getting a condominium is a better choice specially if it's located in a commercial center like Ortigas, Makati or Bonifacio Global City.
Another thing that I notice when talking about condominiums is that people are turned off by the fact that you don't own the land that the condo is built on and the lifespan of the building which is typically only 40 to 50 years unlike owning a house and lot.
Well for me, from an investors point of view, meaning I am buying this unit for the reason of earning rental income from it. It does not matter if house and lots will outlive condominiums. I treat condominium units as a form of investment vehicle, like time deposits, stocks or mutual funds which serves as part of my portfolio if only I foresee it as profitable, otherwise I could just sell or swap them for other forms of asset before the time's up.
