Types of Condominiums

One of the most popular types of real estate properties nowadays are condominiums. A growing number of people are recognizing the benefits of owning or renting a condominium unit. This is evident in the number of condominiums that are on sale in Eastwood, Makati, Quezon City, Ortigas, and in many other parts of Metro Manila.

Condominiums are very popular not just among buyers of real estate properties because they are also quite popular among those who want to rent. A condo in Eastwood that for rent would barely need a lot of advertisement for it be rented by someone working in Eastwood and it is the same thing for other locations.

But condominiums are not limited to tall buildings that you often see in commercial areas. There are different types of condominiums and they each have their own advantages and disadvantages. Below are the different types of condominiums.

• High Rise.  This is probably the first image that comes to mind for many people when someone says condo. However, not all condominium buildings may be considered high rise. Only condo buildings consisting of 19 to more levels are considered high rise. High rise condominium buildings are often found in business districts such as Makati, Ortigas, and Eastwood.

• Mid Rise. Condominium buildings that only have 4 to 8 levels are considered mid rise condominiums. If you are the type who likes the convenience of condo living but do not want to deal with too many people living in the same building, then a mid rise condominium is better for you.

• Hybrid. Sometimes condo developers like to be able to offer more options to their potential buyers. Hence, condominium projects that include both high rise and mid rise buildings are not unheard of. These hybrid projects are often more expansive in land area and offer a more community-like atmosphere.

The Pros And Cons of Real Estate Investing

There are numerous ways you can invest money and one of these is through a Philippine real estate investment. Just like any other investment vehicle, there are advantages and disadvantages to investing in real estate. Below are some of these pros and cons.

·         Pro: Monthly cashflow. If you want an investment that has a regular monthly cashflow, then a real estate investment is good for you. Buying some condo units that can be rent will assure you of a regular monthly income with only an initial investment and some of the usual maintenance and upkeeps. The only drawback is if there are vacancies in your properties.

·         Pro: Tangible investment. One of the best things about investing in real estate is that you get a corresponding tangible property that has value no matter what happens to the market. This is in contrast to other investment markets where you do not get any tangible item except for certificates and other pieces of paper.

·         Pro: Insurance. A real estate property can be easily insured so your investment is actually insured. Again, this is different compared to other investments that are uninsurable.

·         Con: Large initial investment.  Unless you plan to buy a property and have it in mortgage, then you will need a considerable amount of money to be able to buy a real estate property. This includes other expenses associated with owning a real estate property.

·         Con: Longer return on investment. Since a real estate property requires a large initial investment, it will take a longer time before you can get a return on your investment. For some it takes many years before they start to earn any profit on their property.

·         Con: Maintenance. Although the maintenance associated with a real estate investment is easy compared to other types of businesses, it can still be difficult to take care of especially since most who invest in real estate have other businesses or day jobs.