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Which Home Is Right For You?

Is it a condo or house & lot?


There’s such a great sense of pride in leaving your parent’s home to move in to one of your own. It’s exciting and thrilling! Where should you live? Should you consider a condo or a house and lot? And a bevy of other questions! 

Finding the right home is a major decision and it becomes easier once you know and understand your long-term goals. 

So, here are a few questions to help you better determine the most suitable property for you—be it for your own use or for investment. 

What can you afford?

Purchasing a house and lot usually entails a heftier price tag and down payment, especially when it's within a prime location. Condos, on the other hand, owing to their different available cuts—studio, one-bedroom, two-bedroom suites, etc. – offer a more affordable option, with some developers even offering a low down payment scheme. 

How much space do you need? 

There are those who love a cozy and comfy space, while others need more room to grow. Most detached homes offer bigger indoor and outdoor spaces, with more freedom to customize. Condos, on the other hand, have limited interior space, with only a small balcony (if ever) offering additional outdoor room.   

Where do you want to live? 

It’s all about the location! If you're looking for the peace and quiet of suburban life, you'll find great house and lot options outside of the metropolis. Meanwhile, if you want the urban living experience, condos are a better option as most are located within CBDs and are accessible to major transportation hubs.  


What kind of lifestyle do you imagine? 

When it comes to a house and lot, if you live within a gated development, you may have access to the clubhouse, swimming pool, gym, and the like. However, not all residential communities have these. Condos are usually designed with all of the aforementioned, and many are fitted with 24/7 convenience stores, dining options, and retail stores within the building. 

What is your purpose of purchasing a home?

A house and lot is ideal for long-term residence and for raising a big family. Condos, while also a good option for smaller families, are considered best suited for young professionals, students, and empty-nesters. 

Can you afford home repairs/maintenance?

Here, condos offer greater convenience as maintenance and repairs of common areas are handled by the building management, including upkeep of gyms, swimming pools, and playgrounds. However, when it comes to renovating your own space, there are certain limitations and restrictions. House and lot owners are free to design their spaces however they see fit, but will generally have to shoulder the cost and be responsible for the maintenance of the property.


When it comes to purchasing your own home - whether it’s a condo or a house and lot—it’s important to have a reliable financing partner. 

With BDO Home Loan, you can easily own the home you've always wanted. Avail of financing options with affordable rates and flexible payment terms. Whether you’re purchasing your first home, constructing a new one, or upgrading your current home through renovation, BDO will help you every step of the way.

Learn more about BDO Home Loan here.