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Home Sweet Townhome or Condo?

By: Andy Fox

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The Philippines is a beautiful country with business districts bustling everyday of the year. In Makati, the streets are never lonely and quiet. Because of the rising number of outsourced businesses, employees work in the tall buildings even through the late hours. And, because of the rise of companies like these, Makati real estate market has surpassed the Manila real estate. A lot of people began buying homes or rent in Makati. However, most renters and buyers are split between going for a Makati condominium or a townhouse. It’s like they are unaware of the distinction as well as the pros and cons of the two.
First of all, a condo or a condominium is a home owned and placed within a building. Most of the time it is surrounded by more than a few other units. It is considered as having one’s own living space without paying for all maintenance fees. And, because it is located in a building, this automatically gives its possessor a full use to all the services of the building. A Makati condominium typically provide a pool, a gym and twenty four hour security as amenities. Owning a unit in one of these condominiums entitles the buyer to all these facilities without charge. On the other hand, a condominium also has a negative part to it.

One of the many downsides of buying a condo is the fact that the ownership extends only up to the four walls and ceiling of the unit. The corridors and other parts of the building are jointly owned and to repair these, association fees are charged every month. Although the initial price of the condominium itself is economical, association fees are usually high. Another complaint is that a condominium unit gives very limited privacy to its owner. In comparison to a townhouse, this is not a problem.

A townhouse, contrasting to a condo, refers to a living space which is not found within a structure. Buying a townhouse gives the owner a right to the yard on which it stands and even the air around it. It is very advantageous in terms of privacy. It is totally owned by the buyer or the renter. Owning this does not need a regular expense of association fees. It also allows for the buyer to refurbish the townhouse higher than a single storey. For these reasons townhomes have been considered a better choice, but as it is with buying condominiums, it also has its negatives.

The typically found negative of a townhome is that it is expensive. The purchasing price is expensive, as well as the maintenance price. It offers sole ownership, thus any fee related to it is paid by the owner alone. This is the reason majority of people decline to buy these kinds of properties.

With the given pros and cons of each structures people who opt to buy or rent in Makati are shown what needs to be put into consideration in making their decision. Whether it is a condo unit with less privacy or a costly townhome, what really matters is the comfort

Article Source: http://depositarticles.com/

Andy Fox is an expert in Manila Real Estate and also a professional Makati Rent Apartment broker. Andy Fox is an expert in the overseas investment property market, specializing in property and real estate through the manilaestates.com; a website that covers major property investment markets in the Philippines and Metro Manila

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