5 Types of Residential Real Estate and Their Advantages
From old-fashioned to modern, from villa-style to city-slicker, there are a lot of options when it comes to choosing a house. Whether you’re looking for a place for your family or partitioning off a room for rent, there’s something that will suit your needs.
Why Buying a House is A Good Investment
There are many reasons why buying a house is a good investment. For one, real estate is a physical, tangible asset. It’s not like stocks or bonds, which are intangible. You can also live in your house, which is not an option with other types of investments.
Another good reason for buying a house is that it appreciates over time, which means that the value of your property will increase as time goes on. This appreciation can be due to inflation or other economic factors.
Lastly, buying a house is a good investment because it shelters you. A home is a basic human need that gives you a sense of security and stability.
5 Types of Residential Real Estate and Their Advantages
When buying a house, you have to look out for many things. We have listed the advantages and disadvantages of certain house types in the Philippine market. Listed below are the five most common types of residential real estate and their advantages for you and your family.
1. Condominiums
Condominiums offer many of the same advantages as other types of residential real estate, such as increased security, amenities, and a sense of community.
One of the main advantages of condominiums is that they are often more affordable than single-family homes. This is because you are only responsible for your unit and not the entire property.
Condominiums also tend to have better security than other types of residences. These units usually have security guards on duty with security cameras for maximum safety.
Another advantage of condominiums is that they often come with various amenities, such as swimming pools, gyms, and laundry facilities. These things can make your life much easier, as you will not have to go far to access these amenities.
Finally, condominiums often create a sense of community among residents. The camaraderie between neighbors will grow effortlessly because they are nearby, and you will most likely see each other regularly.
2. Bungalow
A bungalow is a low-rise residential building, typically only one story tall. This house type is common in warm and tropical places, like the Philippines.
Bungalows are often less expensive to build than multi-story homes, making them a popular choice for first-time homebuyers or people looking to downsize. They are also easy to maintain and energy efficient.
One of the disadvantages of bungalows is that they may not have enough space for a family to grow. If you plan on having children or hosting guests, you may need to look for a different type of home.
3. Townhouses
Townhouses are a type of residential real estate that is becoming increasingly popular. They offer many of the same advantages as single-family homes listed above, but they are often more affordable and easier to maintain.
Townhouses are usually part of a larger community, which means you will have access to amenities like pools, playgrounds, and fitness centers. You will also have neighbors nearby, which can be beneficial if you need help with something or only want to socialize.
Townhouses are often cheaper to buy than single-family homes—these typically require less maintenance. This advantage is excellent for people who do not want to deal with lawn care or other exterior home maintenance tasks.
If you are looking for an affordable and easy-to-maintain option, then townhouses are the right choice!
Aroha Land Corporation is proud to say that we have a townhouse development project perfect for investors or North Cebu residents! Alishia Residences is our flagship development project located in Tominjao, Daanbantayan! Alishia Residences is a good investment! Contact us!
4. Single Attached
Single attached homes are a popular type of residential real estate. These homes are usually attached to another home or structure, such as an apartment complex.
Single attached homes offer many advantages over other types of residences. For one, they tend to be more affordable than detached homes. Additionally, they allow more privacy than some residential groups, such as townhomes or condominiums.
Another advantage of single-attached homes is that they tend to have more space than other residences. This extra space is perfect for storage, an office, or more bed space. Additionally, single-attached homes often come with yards, which is excellent for gardening or entertaining guests.
If you are considering purchasing a single attached home, you should remember a few things. First, you need to ensure the home’s attachment to the other structure.
Second, you should check the area of the home to ensure it is large enough for your needs. Finally, you will need to consider the unit address and whether it is close to the amenities that you need or want.
5. Single Detached
A single-detached home is a standalone unit, often on its lot. This housing type offers the most privacy and space but may cost higher.
Advantages of a single detached home include more privacy, more space (both inside and outside), and customizability. Another advantage is that these homes tend to appreciate value more than other residential groups.
Disadvantages of a single detached home include the high initial cost and the maintenance required to keep up the property. These homes also tend to be located further away from city amenities like shopping and restaurants.
Key Takeaways
The market is always full of properties for you to purchase. However, it takes patience and attention to detail for one to get the most out of their spending. So, if you are still considering the type of home you want make sure to think about and answer these questions:
1. How much is my bottom line?
2. What do I need?
3. Where do I want?
4. Is this an asset or a liability?
After answering these questions on your own, you will come to a realization and will have a better decision than you first started reading this blog!
What is Aroha Land Corporation?
Aroha Land Corporation is a Cebu-based development company with a vision for community upliftment. Aroha Land Corporation pursues to give you homes built in love. Check our website today to learn more!
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Aroha Always
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By: Jes Nadayag