The traditional house and lot package is still a viable option among Filipino homebuyers. There’s a growing demand for house-and-lots outside the metro. According to Lancaster New City Cavite, one of the reasons is that new and growing families want to escape the stressful life in the city.
But what else can you find appealing from owning a house and lot?
The Availability of Affordable Units
For many years, you may have seen the rapid development of high rise residential condominiums in the Philippines. It seems as though each city welcomes a new condominium every year. And while buildings crop up in major locations across the country, considerable segment of the market still chooses a horizontal development. The Philippine Daily Inquirer reports that 76 percent of purchases still come from house and lots.
House-and-lot packages remain popular for a particular group of homebuyers because of their availability and their affordability. This is due to the relatively cheaper land for development.
A particular number of homebuyers, such as overseas Filipino workers, prefer to have more room to move about, explaining why they are willing to invest in houses with bigger spaces. These homebuyers also want to own the property they can call their home.
The Advantages of Owning a House and Lot
A house and lot may be more suitable for you and the needs of your family compared with a condominium unit.
Here are some of the advantages you will enjoy when you choose to buy a house and lot.
- Since there is no common ownership of the land, you don’t share ownership of the property. It’s all yours.
- You will have more freedom in terms of area. It’s not limitless, but you’re not as limited with a house-and-lot package as you are with a high-rise condominium.
- You will own the property once you have fully paid it, giving you security for your future.
- You can pass on the property to your children and even your grandchildren; it can be a long-term investment.
- Your family will enjoy a more spacious home if you opt for a house-and-lot package.
Horizontal developers are coming up with strategies in an effort to meet more and go beyond expectations. They are now exploring a developments that appeal strongly to elusive and picky homebuyers.
A Growing Potential in South Luzon
Cities and provinces outside Metro Manila are experiencing a rapid urbanization. You can expect to see improved roads and highways for better transportation. The government is tapping the potential of nearby communities in the South, such as Cavite, Laguna, and Batangas.
The Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) area, in particular, has seen the development of both residential and commercial real estate by property firms. If you want to step away from the hustle and bustle of the city, then these places may suit you and your family well.
Buying a house and lot in Cavite, Laguna, or Batangas may be a wise idea. These areas are now considered suburban cities, ideal for the work-life balance your family would want and need.