Out of the million questions buzzing in a Filipino home buyer’s mind, the question that prevails the most is whether to invest money on a residential with land property, or residential without land property.
Firstly, what differentiates the two from each other?
When buying residential with land properties, you get the house, the villa, or the bungalow under your name, as well as the piece of land in which the property sits on. On the other hand, think of high-rise buildings when considering residential without land properties. Within pockets of these buildings are pie slices of condominiums, apartments, dormitories, rooms, or bed spaces.
Let’s compare them in terms of the factors to consider when purchasing a property.
Residential with land properties are usually built on subdivisions or compounds, usually distant from the heart of the city, along with other residential with land properties. Due to its nature, the lifestyle of the home owners tends to be more peaceful and tranquil — just calm morning walks, away from the smoke.
Residential without land properties are more popular within the young ones, as it gives them access to the hustle and bustle (and traffic) of the urban scene. Most of these properties are developed near Central Business Districts (CBDs), perfect for a lifestyle that thrives in malls, entertainment hubs, commercial spaces, offices, and the like.
Residential with land properties are more private, given that the residents are more often than not akin to the homeowners, or are families living under the same roof. The security, however, depends on the neighborhood, as well as the general safety and policies of the area. It’s best to put up robbery-proof gates, and surveillance cameras for extra protection. In case of an emergency, such as an earthquake, the residents can easily evacuate into open areas, in the absence of high-rise buildings nearby.
Residential without land properties are guaranteed to be more secure because of the 24/7 surveillance of security personnel, funded by association dues. Anyone who enters the premises are screened, and guests have to wait in the lobby until there is an approved permission or invitation from a unit owner. Additionally, real estate property developers study the area with the latest technology and train personnel to establish emergency responses.
Residential with land properties are initially more expensive than residential without land properties because you also pay for the land. Maintenance and renovation costs are also covered by the homeowners. However, residential with land properties are cheaper in the long term, because you don’t have to pay for expensive association fees that come in purchasing residential without land properties.
Residential with land property owners are free to put up any amenity needed or wanted by the family, whether it be a front yard garden or makeshift fitness gym inside the house. Care to go biking or jogging in the early morning? Do so on the road outside, or a nearby playground for the children in the subdivision.
Residential without land properties offer resort-living amenities, such as swimming pools, function halls, clubhouses, children’s playground, basketball courts, and more, that are shared by the homeowners. These are all incorporated into the real estate property development projects.
So, which side wins? None, really. Which property to purchase for personal use or investment all boils down to (1) preference, and (2) capability. Regardless of the diverse choices offered by Enta, investing in real estate properties remains to be one of the Filipino’s best investments, for a plethora of reasons. That, we’re sure, is not debatable.