Modern Home Trends You Should Keep an Eye On

If you're like most young adults, you're probably renting an apartment or room in a house. And while there's nothing wrong with that, there comes a time in everyone's life when they start to think about owning their place. And when that time comes, you might begin to wonder about your real estate options.

Especially in the Philippines, many young adults have been driving the real estate market. In fact, reports have shown that 44 percent of new home buyers in the country are millennials. But what does that mean for you? This growth means you are in a better position than ever to buy your first home. And with some research, you can easily find the right property.

If you're thinking about making the jump from renting to owning, here are some different real estate options available to you:

Single-Detached Homes

A single-detached home is just what it sounds like: a standalone house that is not attached to any other property. It's an excellent option for families or those who want a little more privacy. Plus, detached homes often come with a yard, which can be perfect for kids or pets.

You can usually find these properties in gated subdivisions or villages in the Philippines. And while they may require a higher down payment than other options, they offer more privacy and space. This type of property is also easier to sell in the future should you ever need or want to.

However, detached homes can come with some drawbacks. For example, they may require more maintenance than other types of properties. And if you live in a gated community, you may have to pay monthly or yearly dues.

Nonetheless, a detached home is still an excellent option for many buyers. It's a worthwhile investment that can offer you and your family a comfortable place to call home for years.

Condominiums

A condominium, or "condo," is a type of housing that is becoming increasingly popular in the Philippines. Unlike a single-detached home, condos are usually part of a more extensive development that includes multiple units.

Most condominiums are located in urban areas, which can appeal to young professionals or those who want to live in the city. You can find a condo for sale at BGC, for instance, which is one of the most popular business districts in Metro Manila.

Condo living has several perks. Many developments offer great amenities like a gym, swimming pool, or playground. And because condos are often near restaurants and shops, you'll never be far from what you need. As a result, living in a condo can be very convenient. So, if you're looking for a low-maintenance option, a condominium might be the right choice.

Townhouses

A more affordable yet still popular option is a townhouse. It is similar to a condo in that it is attached to other units. But townhouses are often more spacious, and each unit usually has its own front and back yard.

You can find many of these properties in either urban or suburban areas. So, a townhouse might be a good option if you want to live in the city but can't afford a condo. Townhouses are also usually more affordable than other properties, making them perfect for first-time home buyers. However, they may require monthly dues like condos.

Still, a townhouse can be a great option if you're looking for more space than a condo but don't want the maintenance of a detached home. With a townhouse, you can have the best of both worlds.

Rent-to-Own Properties

Of course, there are also rent-to-own properties, which can be a great way to ease into homeownership. With this type of agreement, you can live on the property while working on getting a mortgage. This option can give you time to save up for a down payment or improve your credit score.

Rent-to-own agreements typically last for one to three years. And at the end of the term, you will have the option to buy the property outright. If you decide not to purchase, you can move out, and your credit will not be affected.

This type of agreement can be very beneficial, especially if you're not ready to buy a home. It can also be a good option if you're not sure you want to live in one place for the long term.

There are many real estate options in the Philippines. And each has its own set of advantages and disadvantages. So, it's essential to do your research before making a decision. But with so many great options, you're sure to find the perfect property for you and your family.