Downsizers have varying reasons for trading their current home for a smaller one. It could be to reduce debt, prepare for retirement, or change lifestyles. For many downsizers, the catch-phrase “bigger isn’t always better” now rings true.
When looking for a new home with a goal of downsizing, it’s important to be familiar with all the options available. Although smaller, this new home is still a big-ticket purchase. And since downsizers often plan to spend the rest of their lives in this property, the goal really is to find “the one.”
So what are the best home types for downsizers? There are three, and here’s how they differ:
A townhouse is a multi-story home that shares at least one wall with another similar-designed home. A townhouse does look more compact than a traditional single-family or detached home, offering two bedrooms and one bathroom at a minimum.
Of course, not all townhouses have the same features. For instance, in the community of Sentosa in Calamba, Laguna, there are two-story, three-bedroom townhouses that also come with a balcony and a provision for a car garage.
Who are townhouses for? Empty nesters who want a smaller but still cozy home and downsizers looking for a unit with a room to spare for guests or rental use.
Condo units, on the other hand, are modern residences often located in Metro Manila areas and key cities across the country. These units have different types and sizes too, but the smallest ones (studio units) are perhaps the most compact homes you’ll find in the market. A studio, however, is ideal for one person only, while one-bedroom and two-bedroom units are perfect for couples and a small family, respectively.
Like townhouses, premium condo units also have balconies. A parking slot is also available, but it is often sold separately.
Who are condo units for? Single downsizers and couples who want less space to maintain and easy access to amenities and necessities.
Bungalows are single-story and detached houses that are generally small in floor space. In Metro Manila, though, it’s not uncommon to spot large, classy bungalow homes, especially in wealthy cities like Makati and Quezon City.
If you’re looking for the small but charming one, provinces like Laguna offer aplenty. Sentosa in Calamba, once again, has well-designed bungalows measuring around 41 sqm to 52 sqm. It’s the perfect size to enjoy low-maintenance yet comfortable living. The best part is that these bungalows are located in a themed community that has relaxing amenities, such as a clubhouse, a picnic grove, and a multi-purpose hall with a viewing deck, to name a few.
Who are bungalows for? Bungalows in Sentosa are ideal for single or couple retirees who want a small yet functional home and a relaxed suburban lifestyle.
In terms of size, these property types are indeed ideal for one’s downsizing goals. For money-savvy downsizers, a townhouse is the one; for those who want to stay in a bustling city, a condo unit is a perfect choice; and for lovers of suburban serenity and simplicity, bungalow it is.
In the end, it’s not just about finding the smallest home that fits the budget. It will also boil down to one’s preferences, future plans, and lifestyle.
Do you have other questions?