When I have the money, I would rather invest in a lot or house and lot instead of a condo. My problem with condo is the maintenance. There is a condo dues to pay every month and the amount is not peanuts. It is like renting. So why would I rent when the property is mine? My plan for retirement is to buy a lot and build an apartment or a duplex that I would rent out. But not a condo.
That's a good plan Corzhens. You're right on the monthly fees which are sometimes a pain in the neck if you come to think of it because you're paying more every month when you already own the property. Lands are much better to invest on indeed.
One colleague is paying 25,000 pesos as monthly condo dues for a big unit of more than 100 square meters located near the business district of Makati City. Amid the convenience of just walking his way to work, I still cannot find the logic of paying that much because you can rent a good apartment for 20,000 pesos as monthly rent. Maybe that's a lifestyle they are maintaining... that out of logic lifestyle. For me, it would always be the house and lot because plants are also close to our heart like our pets.
