Although condominiums are known for their affordability, apartments have also been known for the same quality. So what is the difference between an apartment and a condominium? And what are the advantages of buying a condominium rather than renting an apartment?
One of the most popular type of residential real estate in Philippines today are condominiums. According to many experts, condominiums are very popular among many Filipinos today. One reason for this is that buying a condominium unit is much more affordable than buying a whole house or a townhouse. However, apartments have also been known for its affordability. So what is the difference between an apartment and a condominium? And what are the advantages of buying a condominium rather than renting an apartment?
Apartments
Apartments have long been a popular type of residential real estate in Philippines. What made it popular is its affordability. Compared to buying a house, apartments offered a quicker and easier way for Filipinos to find residence without having to sacrifice too much capital. This is because apartments are usually rented or leased to tenants. There are many types of apartments available in the market. The most popular type of apartment are the studio type apartments.
Studio type apartments tend to be the smallest apartments with the cheapest rents in a given area. These kinds of apartment usually consist mainly of a large room which is the living, dining, and bedroom combined. There are usually kitchen facilities as part of this central room, but the bathroom is its own smaller separate room.
Other types of apartments include the one-bedroom apartments, in which one bedroom is separate from the rest of the apartment. Then there are two-bedroom, three-bedroom, etc. apartments. Another popular type of apartments are the garden apartment complex which consists of low-rise apartment buildings built with landscaped grounds surrounding them. These types of apartments, however, are much more expensive.
Condominiums
Condominiums, on the other hand, are very similar to apartment buildings. Condominiums, like apartments, are a type of multi-unit dwelling residential real estate in Philippines in which a unit is individually owned by its residents. This is the advantage of owning a condominium rather than an apartment. Apartments, though provide residence, may only go as far as renting the unit, and not entirely owning it. Condominiums, on the other hand, provides a more permanent sense of residence.
Another advantage of condominiums are its location as well as the luxury it provides to its residents. Most condominiums are found in small footprints of a city, allowing it to be within walking or mass transit distance of business and industrial areas of the city. The reason why it became luxurious was because some condominiums are much like a townhouse complex, which are complete with high security as well as resort facilities such as swimming pools, gyms, parks and playground equipment.
One of the most popular type of residential real estate in Philippines today are condominiums. According to many experts, condominiums are very popular among many Filipinos today. One reason for this is that buying a condominium unit is much more affordable than buying a whole house or a townhouse. However, apartments have also been known for its affordability. So what is the difference between an apartment and a condominium? And what are the advantages of buying a condominium rather than renting an apartment?
Apartments
Apartments have long been a popular type of residential real estate in Philippines. What made it popular is its affordability. Compared to buying a house, apartments offered a quicker and easier way for Filipinos to find residence without having to sacrifice too much capital. This is because apartments are usually rented or leased to tenants. There are many types of apartments available in the market. The most popular type of apartment are the studio type apartments.
Studio type apartments tend to be the smallest apartments with the cheapest rents in a given area. These kinds of apartment usually consist mainly of a large room which is the living, dining, and bedroom combined. There are usually kitchen facilities as part of this central room, but the bathroom is its own smaller separate room.
Other types of apartments include the one-bedroom apartments, in which one bedroom is separate from the rest of the apartment. Then there are two-bedroom, three-bedroom, etc. apartments. Another popular type of apartments are the garden apartment complex which consists of low-rise apartment buildings built with landscaped grounds surrounding them. These types of apartments, however, are much more expensive.
Condominiums
Condominiums, on the other hand, are very similar to apartment buildings. Condominiums, like apartments, are a type of multi-unit dwelling residential real estate in Philippines in which a unit is individually owned by its residents. This is the advantage of owning a condominium rather than an apartment. Apartments, though provide residence, may only go as far as renting the unit, and not entirely owning it. Condominiums, on the other hand, provides a more permanent sense of residence.
Another advantage of condominiums are its location as well as the luxury it provides to its residents. Most condominiums are found in small footprints of a city, allowing it to be within walking or mass transit distance of business and industrial areas of the city. The reason why it became luxurious was because some condominiums are much like a townhouse complex, which are complete with high security as well as resort facilities such as swimming pools, gyms, parks and playground equipment.
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