Planning to buy your very own condominium unit soon? Know about the different types of condominium units in the Philippines that you can choose from!
Choosing the Right Condo for You
Condominiums are the most popular and the best option if an individual is either just moving to the Metro Manila or just wants to stay in a place near their work or school. Considering that it’s a well-known fact that Metro Manila is the most densely populated in the country, recording a population of 13,484,462 according to the 2020 national census, condominiums are the best option to build for residential purposes or even for commercial spaces to utilize the limited land area in the National Capital Region (NCR). There are actually a lot and different types of condominiums in the Philippines to choose from if you are wanting or manifesting to have one!
Read Also: 8 Reasons Why There is a Rise in Preference for Condominiums
Perhaps, one of your dreams is to become a homeowner, a separate and detached one, but in the meantime, you’re not just yet capable to have one, or you have other personal reasons for choosing a condominium for now such as for convenience. But don’t worry! You are still considered a homeowner with your own condominium. In reality, where most job opportunities were poured into the Metro Manila, investing in a condominium unit is the smartest choice, considering today’s market value and the need for convenience. Every cent of your investment in a condominium unit is worth it. Having your own place, like a condominium, can be one of your major life milestones!
However, deciding on going with a condo is only the first step. The next step that you have to consider is where you will put your hard-earned money on. Metro Manila and even nearby provinces have a lot and different types of condominium units to choose from. Depending on your needs, such as your status if single or starting a family, and budget, there’s definitely a perfect type of condominium unit that will fit your circumstance.
In contrast to an apartment rental, condos are individually owned units within a building. When you purchase a condominium, you will be responsible for a monthly fee that will be collected by the condominium association. This association is responsible for maintaining the exterior and common areas.
Renting in an apartment, a separated property often situated within a subdivision is different from condominiums where they are individually owned units within a building. But there are condominiums that allow agreements called “rent to own” condominium units to help the buyer’s burden in paying the hefty price by allowing purchasers to move in immediately while still paying the total price. It is similar to renting in an apartment but the end goal of “rent to own” agreements is for the purchasers to own the property once they have fully paid the contract price. In the country in general, different types of condominiums in the Philippines has their own advantages and disadvantages so read on about different types of condominium units to enlighten and help you determine what unit is best for you!
Common Condominium Unit Types in the Philippines
1. Studio Type
This type of condominium unit is usually the most affordable in any condominium development because of its small or limited floor area. The size of a studio unit can go as low as 18 square meters in total floor area. Usually, it has an open floor layout where the living room, kitchen, bathroom, and bedroom are all integrated. This type of condominium unit is ideal for single dwellers and couples because of its limited size. Just a word of advice, choose a studio unit that has at least an integrated bathroom and kitchen to save up more space or a balcony that can be turned into an additional living area. Moreover, although studio-type condominiums are the cheapest compared to other types of condominium units in the Philippines, it has a higher rental yield, meaning the profit that you will earn from renting your unit per year, as a percentage of your unit’s total value. The bottom line is, at a quicker-than-average rate you’re earning back the money you put into your studio unit. Especially at this present time where most job opportunities can be found in Metro Manila causing people from provinces who work or study in the Metro Manila or even non-homeowner couples to look for a studio-type condominium unit as their temporary place of residence. You can check out this article from BRIA Home– 10 Design Ideas for Small Rooms to know how to design your studio-type unit.
Furthermore, a studio-type condominium unit is easy to sell out. It’s easier selling your small studio unit than selling a larger unit. Although one of the difficulties in selling out your studio-type unit is that it has limited demographics like the single dwellers, couples not planning to have kids, or those thinking of buying another property as an investment. But do not be discouraged, think it in a way that studio-type might be the only option for certain homebuyers. For instance, some provincial residents who are looking for a permanent place to stay when they are in Metro Manila are the most likely who will buy a studio-type condominium unit because it might be the only financially attainable choice for them.
Read Also: Tips On How To Furnish Your First Affordable Condominium Unit
2. Loft Type
Loft-type condominiums were originally derived from buildings or spaces created initially for industrial purposes. Fortunately, people got creative and found a way to transform and reuse abandoned industrial spaces into functional housing, which is now being adopted as a structural design of a condominium. Actually, a studio type could also be turned into a loft type if the unit is blessed with high ceilings, which an elevated bedroom could be made possible and be accessed by stairs. The high ceilings in a loft-style condominium make lofts feel larger than life.
This type of condominium unit is usually designed for an open space, without internal walls, so this type of unit would not be ideal if you’re someone who loves to treasure their own privacy unless you’re living alone therefore this could also be fitting for you if you want your place to look more inviting and spacious. Of course, the bathroom still has its private walls!
This is a great option and value for money for people who want an airy and spacious place to relax or sleep in.
Usually, the bedroom is sitting open above while the main living area is below. This helps your condominium unit to look enormous, especially if it has a limited size like a studio type. Customarily, lofts have huge natural light sources to match their high ceiling and versatile layouts with minimal walls. You could also opt to choose units with generously sized windows that can be opened to save up on electricity bills and be too dependent on air conditions.
Loft types are very popular with younger generations who love unique charm, urban living, and flexible space. This type of condominium unit is not recommended for senior folks, taller people (because they might bump their head on the ceiling of their bedroom!), and couples with toddlers, for safety purposes.
3. Flat-level Type
This is the most typical type of condominium unit where all rooms, such as bedrooms, bathrooms, dining area, kitchen, and living room are all located on the same level. It is very similar to the most common horizontal home, located in a residential community, except that flat-level type condominium is located in more prime and busier areas. Moreover, it does not have a second floor which is perfect if you prefer to see everything and everyone without the need to climb up and down the staircase, indeed just like a typical one-story home of every Filipino. Moreover, this type of condominium unit is most ideal when you are moving in with toddlers or an elderly relative like your grandparents, who cannot climb the stairs. These flat-level units are further categorized into two types: studio and number of bedroom types.
4. Number of Bedroom Unit Type
This could be a one-bedroom, two-bedroom, or three-bedroom unit condominium, perfect for starting couples or small families who want more private settings within the city or urban areas. This is the most recommended condominium type if the buyer wants partitions of the bedroom. And also great if you value privacy or if you are living with other people, like your family. But even if you’re living alone, the extra rooms could be used to host guests or your friends on overnight stays. It also offers a larger living space than the studio and loft-type condominium units that everyone in the family can enjoy aside from their own haven in their bedrooms.
5. Bi-level Type
It has a layout similar to a house with a second floor with your own private stairs inside your own condominium unit, within a residential building. But in contrast with the loft-type that has an open second level, usually, for bedroom, bi-level units do not have this feature for it is usually enclosed with walls like with a normal two-story house. In general, the structural design of bi-level units is very similar to a normal house, the living room, dining area, kitchen, and bathroom are all on the ground level while the bedrooms are normally found on the second floor.
This type of condominium unit is ideal for growing families who opt to sacrifice more spacious houses and lots in distant locations in order to live in smaller spaces but located in a prime location, which is primarily being offered by a condominium, in other words, convenience.
6. Penthouse
This type of unit can be found on the topmost floor of a
residential building, which means that it is the most expensive type out of all condominium units because it offers a larger floor area. It also offers some exclusive features and amenities not available to other residents from other lower floors. The tenant of a penthouse usually enjoys their own pool, private elevators, and other similar exclusive and high-end amenities. They can also take pleasure in having a great deal of exclusivity and privacy with this type of condominium unit. Indeed, this type of condominium unit is ideal for those who want or already currently live in a luxurious way. Moreover, its layout and design can be customized and personalized since it is the most spacious of all types of condominium units. Some penthouses can either be flat-level or multi-level.
Condominium living is the perfect choice of residence for many, but take into consideration its several advantages and its own disadvantages. Condominiums are an excellent choice to live in a walkable urban area and for first-time homebuyers. It is indeed convenient, comfortable, and often concentrated in prime locations to cater to the needs of every individual. Hence, there is no surprise as to why condominiums are popping up like mushrooms everywhere, especially in key cities around Metro Manila, because of the increasing demand to find a convenient place to stay in the Philippines. However, it comes with a hefty price, one condominium unit can even cost as high as a regular single-detached family home already. But bear in mind that what condominium developers/owners are selling to you is convenience.
Meanwhile, horizontal developments remain steady choices for many Filipinos, because indeed the most obvious choice in our culture. Every Filipino dream of owning a home for their family in their own residential lot and not just space in a building. Nevertheless, despite many alternatives available, it cannot be changed that one’s ultimate goal is still a place to come home to and rest.
If you’re interested in investing in your first condominium, this article from BRIA Home might just help you in grasping some basic information in buying your first affordable condominium–Things to Know About Affordable Pre-selling Condominiums. It is true that pre-selling condominiums are one of the most affordable condominiums that you can buy because will give you a huge discount but also at the same time, it comes with the risk that you might get disappointed if the turned-over unit does not look the same as the model unit that the agent has shown to you.
Here are also some rationalizations from an article from BRIA Homes as to why condominiums are not just a great property investment but as well as a great value for your money– 10 Reasons to Invest in Affordable Condominiums.
