Many young professionals nowadays, prefer to buy a condominium unit rather than a house and lot. The latest estimates showed that the demographic of 20-35 years old is the strongest market for the condominiums so much so that developers devise marketing strategies specifically for them.
Condominium living is indeed fitting for the lifestyle of young professionals. However, there are still some things that only a house and lot can offer.
These things may be simple but they make a huge difference in improving the quality of living. Here are reasons why young professionals should buy a house and lot in this day and age:
Great place for retirement
You should always remember that purchasing doesn’t end after paying off your mortgage. It is a long-term commitment that spans even after your retirement and when you reach retirement age, a house and lot is a practical option.
Horizontal living avoids the steep staircase of condos that you have to climb every now and then and in addition, you can live with more space, which is more suitable for an elderly.
Living with your family
Most people still practice a tightly-knit family relationship. There are people who prefer to leave their parents or let other people take care of them as they grow old.
Still, there are a lot of people who values strong family ties which make it ideal to live with your family in a house and lot. A house and lot provides more space and freedom if you’re raising your own family.
Ample space to unwind
Condominiums feature great amenities such as swimming pools and gyms but you will have to compromise on your unit’s space. You may not get these amenities in a house and lot, but it means more living space – the space that you can use most of the time.
With ample space, you also have more freedom move, to decorate according to what you like, to allot space for your leisure, and you can reserve those for private use only.
Cheaper in the long run
A condominium unit generally costs less than a house and lot but this doesn’t mean it will always remain the same way because of the monthly fees that you have to pay for the maintenance of the building and amenities. If you’re not going to use these amenities, it may only add up to more costs for you in the long run but if you live in a house and lot, you can minimize these kinds of expenses.
Growing opportunities outside the Metro
One of the reasons young professionals buy a condominium unit is to be closer to their workplace but with the growing economy outside a city, this may not be the case in the future. Now is the time to secure a house and lot if you want to take advantage of these growing opportunities in the provinces, where the air is cleaner, the space is bigger and life is more sustainable.
It appreciates over time
One of the tangible properties that has a long-term and stable growth in value is the real estate. Because there is a continuous demand for housing, its values are still up on a cumulative basis.
On the other hand, land is not something that is abundant in the world which is why it is an extremely valuable resource. It is an infinite asset and owning a piece of it is financially advantageous and if you hold these investments for the long term, you will be surprised that it can be a potential gold mine.