Owning a Condo or Apartment: What’s More Affordable in the Long Run?

Space rental is part of Filipino home living especially to those who are living in the urban community. For families who have transferred in the city, apartments and affordable condos are readily available across Manila.

Today, we cannot deny the fact that space rental is a mainstay in the Filipino budget and  expenses. For middle income families, it’s quite difficult to accept the reality that most of their monthly income goes to home rental. This is why many Filipinos aspire to save and invest for their dream houses especially those working abroad and those with stable and high paying job in the Philippines.



If you’re a practical and intelligent tenant, you will not always rely on home rental since it will eventually consume all the money which you are suppose to save or invest on other important things. In this article, we will weigh which between condominiums and apartments will be more affordable in the long run.

Condominiums vs. Apartments

When selecting between these two, potential homebuyers should distinguish them clearly. According to real estate experts, the essential difference of a condo and an apartment is ownership. Basically, apartments are leased for a pre-designed period of time as compared to condos which are owned by individuals who either live in them or rent them out to others.

Speaking of ownership, a typical apartment is usually owned by one or more people that rent out their individual units for additional income. This means that apartment renters are usually not allowed to alter the interior or exterior parts of the space without any permission of the owner.


Meanwhile, condominiums are usually owned by single person, giving him / her the right to redesign their units based on what they like. What’s also good is that condo owners also pay homeowner association fees to collectively share the costs of maintaining the joined living structures.

Basing on these comparisons alone, we can somehow depict that condominiums are giving a typical tenant or home investor the freedom to own them or either rent them out to others. On the other hand, apartments have regular maintenance. For example, something breaks in your apartment, all you have to do is simply call the apartment owner to look at it and shoulder majority of the money for the apartment maintenance.

If you will try to analyze, both can be an additional source of income for overseas Filipino workers. Aside from this, owning an apartment or  condominium can be both beneficial in the long run.

When talking about real estate investments such as these, it is best to consult a broker, an agent or an expert in land development property. In this case, you will be equipped with proper guidance. You should also think of the pros and cons of these investments before you decide to give it a go.






Overseas Filipino Workers (OFWs) are the Philippines’ modern day heroes, hailed as breadwinners for the support they provide for families back home. But when the years of productive work is over, not every OFW gets to secure a stable financial future. Stories have been all too familiar; an OFW returns after a lifetime of hard work only to find himself unemployed and broke.

The only long term solution is having a more sustainable form of income. There is the option of venturing into small businesses or franchising; however it requires hands-on management and a fair amount of time. One can also try real estate since it appreciates over time and can be self-liquidating but requires property management and maintenance. All these options seem viable but surely there must be a simpler way of investing for our kababayans.

Major Homes, a full-serviced real estate development company, offers an innovative real estate product perfect for the OFW investor. These are the Space condormitels — a condominium, dormitory and hotel that operate as one. Space condormitels are 15-19 sqm units fully furnished with 3 to 4 beds with its own kitchen, bathroom, study desks, LED TV, fridge and microwave oven. This new property segment pioneered by Major Homes employs a sachet business model wherein units are leased on a per bed basis.

Settled comfortably near the country’s leading colleges and universities, Space condormitels enjoy constant demand, a steady stream of lease potential and offers an upgrade to the typical dormitory experience. Beside Adamson University is Space San Marcelino, a 28-storey condormitel located along San Marcelino St. Manila. A couple of blocks away is Space Romualdez along Romualdez St Manila. Along Taft Avenue and a few steps away from Philippine Women’s University is Space Taft. And at the center of the university belt there is Space U- Belt, located at CM Recto Avenue where conservative estimates would place the student population at around 350,000 strong.

If one intends to tap into the potential of this robust market, a condormitel could provide a steady stream of fixed monthly income. Owners can also enroll in a hassle-free dormitel program where a professional property manager handles maintenance of their unit while rental income is deposited directly into the owner’s bank account. Interested parties may visit Major Homes website at www.major.com.ph or call 533-4663.