Condo Living (updated)

I attended a house warming (unit warming) last Friday in a 'condo village' somewhere in Taguig. I used the term 'condo village' as I don't know how they actually label a compound with three (I think) condo buildings & a clubhouse(see the picture).

When I was observing the place,questions popped into my head. Is it a good investment to get a condominium unit? Is it good to have a condo-lifestyle?

Condominiums are everywhere in the Metro. Nearly every vacant lot is being developed into a condominium (e.g. parking lot along Emerald cor. Garnet, vacant lots near MRT stations i.e. GMA). This may be attributed to the growing number of young professionals working in the city.

Owning a condo unit allows for proximity to work place. It means you need lesser time to prepare for work. It also means lesser transportation expenses. And I think one of the main reasons why owning a condominium these days is quite a hit is the fact that there are affordable payment schemes available. If one has Pag-ibig membership and earns relatively well (say a minimum of 25k net), it's easy to avail a Rent-to-Own condo unit.

Meanwhile, if you want to own a house and lot at an affordable or viable payment scheme, it's impossible to find one at the heart of the metro. Low-cost housing is usually available in provinces near Manila (e.g. Rizal, Bulacan, Laguna). This is another reason why there are some people who would settle for a condo unit.

Personally, I don't really find owning a condo unit as a good investment. It's still different when you can own a house & lot that is strategically located.

• You ONLY own the UNIT . You can NEVER own the land.
  

• While staying in a condominium provides for a 'more secured' living, it also means that there are more people who can access a bit of your private space (too sketchy description) because you're staying in a building, you're bound to bump into different people everyday (e.g. visitors of your neighbors). But this attribute is good for those living alone.
  

• Unlike in owning a house (in a village or community) that you can manage and maintain, in owning a condo, you only have the control on your unit. Kapag naluma ang building, kasabay ding maluluma ang unit mo. Di mo naman pwedeng tibagin ang unit mo.
  

• Oh, and you have to pay association dues as well.
  

I've tried staying in a condo when I was in college (for about 3 months). And I felt like I was living in a box. In condo living, there isn't any sense of 'community' unlike when you grow up in a 'barangay' or even in private village.

I still equate condo-dwelling to something transient. It is something similar to staying in a hotel or a villas in a resort (e.g. Fontana). It's something unnatural -- not something I can call a home.