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A Guide For First-Time Homeowners: The Property to Buy

Change is indeed inevitable yet unpredictable. As people take on their first steps to the journey of independence, many of these steps must be done carefully and rightfully so. When it comes to finally settle to become your own boss of your own lifestyle, there must be no room for spur-of-the-moment decisions because your future is truly at stake. Given that, almost everyone’s ultimate goal is to truly have a home for themselves—free from being codependent on their relatives.

Choosing the right mortgage rate might be quite a challenge for those buying a home for the first time, but choosing the right property to buy is also as tough. It could be affected by a lot of factors, such as your current and goal lifestyle. It could be because you just got married and want to live in a place more independently with your significant other. It could be because you want a fresh start. Or it could be simply because you would like to live on your own for a while, only minding your own business at hand.

Either way, you must weigh down the pros and cons for you to be satisfied with your final decision in the long run. The real estate market industry is surely not going to crash anytime soon. With the consistent demand, millennials and Generation Z are slowly merging and taking up space. Especially with the current pandemic brought about by the malevolent COVID-19, people are scurrying to find homes that could accommodate their duties and responsibilities both inside and outside their houses.


Townhouses are quite cheaper than most properties available in the market. These are multi-floored, terraced properties that are narrowly adjacent to the properties beside them. These neighboring homes can also be found in the suburbs but are often built in a distinct community.


  • Townhouses have multiple floors, so there is no scarcity of space.
  • Less maintenance for the interior.
  • Townhouses are also usually built nearer to necessary amenities and are a lot more convenient.
  • It gives a sense of community and belongingness to its residents.
  • Living in a townhouse gives you a simpler and minimalistic lifestyle.


  • Townhouses naturally have smaller yards than single-family homes.
  • Fees could add up as the building gets older.
  • You get to have less privacy as you share walls with your neighbors.
  • You won’t have enough freedom to renovate or redecorate, especially for the exteriors.
  • You get to have a lower resale value, as you’ll probably sell it for the same discount you got it from.


Condominiums, or condos, is a larger unit that could be in a high-rise building. These are quite similar to apartments. However, while an apartment is rented, a condominium unit is bought and owned independently by the homeowner.


  • You would only need to take care of what’s inside of your unit. Managers will be the ones to solve exterior problems such as peeling paint or faulty lighting systems.
  • You won’t need to worry about mowing lawns or maintaining a yard.
  • Condominium units give better security to their residents. These buildings have doorkeepers and security professionals, and even cameras over the place, so there is less possibility of someone breaking into your home.
  • It offers a great lifestyle. With the amenities available near your unit, you’d get to enjoy your leisure times a lot more.
  • Living in a condominium unit also provides you with great convenience and accessibility, as they are usually located near the city or downtown areas.


  • You would have additional fees on top of your mortgage. Because of the amenities and security provided to you, you would also need to chip in to sustain these services, even if you rarely use them.
  • You may experience difficulty reselling your unit, as most people usually do not consider living in one, especially those with pets and younger children.
  • You would have less freedom to make decisions for your own lifestyle, as these buildings have rules and regulations for residents to follow. They might restrict a lot of things, like the number of pets allowed, for example.


Among the options, houses are probably the ideal property to own. Owning a house certainly gives you many perks and experiences that no other property can equate with.


  • You get to have all the freedom that you want when you renovate, decorate, and do maintenance measures in your house.
  • You get to have more privacy, as your property would be reasonably distant from your neighbors.
  • You get to have a lot more space and outdoor fun to enjoy, especially if you have or plan to have a bigger family.
  • You will be able to tend gardens and scape your yard to whatever design satisfies you.


  • You would be the one responsible for all repairs and maintenance regularly, which could be quite expensive over time.
  • It is much more high maintenance in nature.
  • Your mortgage payment can be a lot more costly compared to rental dues.
  • You would also have to pay additional taxes on top of your expenses.

Above all, you should always consider the quality and kind of lifestyle you would want when considering which property to buy. Some may find living in a townhouse comforting, and some may prefer the lifestyle offered by living in a condominium unit. However, you must also consider the kind of budget you would be willing to pay. One way or another, though, these expenses will surely be worth it in the long run—especially if you get to live the life you dreamt of.

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