Buying or purchasing a new home is a hard decision to take. Lots of factors to consider before we locked in to purchase it. Such as value for money, accessibility, monthly expenditures, etc. These are, all of them, that are to be considered. Hence, there are more choices to take, and we had a hard time on what to choose, whether a condominium over a house. Or house over condominium?
In making a decision in your home purchase between a house and lot or condominium, you might have also heard about the rise of preference in condominiums. To help you in your decision-making, we’ll tell you about why it has been sustaining a high demand.
For those who prefer to live in the city’s heart, a condominium could appear to be a decent option. Many people prefer to live in an apartment. While others opt to live in a house and lot type because it is way homier. There are so many reasons why living in a condominium over houses, or living in an apartment is preferred. But let me tell you now, before you eventually make a purchase, that living in a condominium is different from living in a single-family house unit. This is primarily, due to the fact that it is unique and more modernized.
Advantages of purchasing a condominium
Condominiums or condos in short are becoming more popular, as a result of the revival of urban living. Condos are usually found in more metropolitan areas such as the national capital region and are accessible to restaurants, shopping, and other activities.
Also, since they are easy to maintain and have someone else take care of the landscape and maintenance. Access to pools, exercise facilities, and other things that are too expensive to build in many homes is also a plus. Condo living is a popular choice since it requires little maintenance and offers maximum convenience. Condominium units are also less expensive than single-family residences, making them a viable choice.
A condominium is also a wise investment.
This is why people – mostly those who are OFW, invest in real estate specifically condominiums. Investing in a condominium is also a good investment since the value is appreciating and not depreciating. The longer the years you invest, the bigger the value you will get.
Proximity to establishments
Condominiums are located in metropolitan cities wherein accessibility is reached within the hands. When living in a condominium, you are able to get into those places and establishments which are within proximity. It is speedy to get to your destination, yes! For that reason, condos are becoming more popular for people who want to live in the metro. Its accessibility and comfort is the reason why there is a rise in preference for condominiums.
Worrying to get late to your destination will be eradicated since the traveling time is cut off. Essential places such as hospitals, and churches. markets, malls, banks, and government offices will never cause you a long waiting time to get into your time.
Exclusive amenities
Imagine having access to these amenities without going out of town or even outside the community, it saves you time, money, and effort. This is also one of the top reasons for the rise in preference for condominiums. It is important to remember that most condo dwellers have access to numerous amenities right outside their front doors. Swimming pools, playgrounds, and party rooms are just a few of the amenities available in some condos and others offer even more.
Security and Safety
If you decide to live in a condo, you’ll also get the perks of being safe and secure. Gates and fences with controlled access are common in the top condominiums. The property is only accessible to homeowners who have a unit in the condominium. There are also expert and professional security guards on duty at all hours of the day and night. It is their topmost priority and obligation – to safeguard the safety of your family. Moreover, choose a condominium with surveillance cameras all over the place.
Choice in Space
If you don’t manage to pay for getting for a large and gigantic house, then the condominium could be an excellent choice to choose. You will observe that you may get sufficient area simply by having to pay for a minimum amount. You will observe that you may get a lot of different offers from the condominium, greater than you may get from the houses. The condominium gives greater functions simply to ensure that you are snug withinside the condominium, greater than anything. It could be
Less Cost
Whether it’s in Metro Manila or the suburbs, a condo is usually less expensive than a house that is built on its own. Because you’re solely responsible for the interior of your home. Condos have the significantly less square footage, and maintenance is usually less expensive. You don’t have to bother about the external walls, the roof, or the landscaping. Those are governed by the HOA or condo board by your property developers. Unlike the other homes, condominium over the house is less expensive since the miscellaneous and the necessities such as bills and monthly obligations are being cut into.
HOA fees are common in condos. This is one of the areas where a condo’s price might skyrocket. Keep in mind that the HOA costs should be reduced if the condo complex offers fewer amenities. Parking garages, storage units, and security all cost money, as do guards and swimming pools.
Independence
When it feels like we’re too safe or stuck in a bubble at home, moving into a condominium could help us grow stronger and more self-sufficient by achieving independence. This sense of independence has been sought after especially during this time of the pandemic wherein we’re just stuck at home. In this case, more and more people realize the advantages of living in a condominium thus resulting in a growing preference for it. Others, on the other hand, may feel as if college is a chance to start over somewhere else because home doesn’t feel safe or comfortable for a variety of reasons.
Living in a condominium unit will make you more independent regardless of where you live, but the details are different if you have your own apartment. You are in charge of everything: dishes, bathroom, cleaning, groceries, rent, and so on. Besides your own, you won’t have to live up to anyone else’s standards.
Owning a condominium is like living independently way. It is like living your life without the supervision of other people – such as your parents. In a condominium, you can move without hesitation. You are free to do whatever you wanted to do.
Value Appreciation
The real estate industry especially the condominium market is a wise investment. This is because the value appreciates from time to time. Condominiums stand as one of the best real estate categories in investing your money. Condos are frequently regarded as low-maintenance, easy-to-maintain investments, with the hope that they would rise in value over time and that you will be able to sell them for a good profit in the future. It’s crucial to remember that while the potential for appreciation is important, the annual costs of owning a condo generally offset much, if not all, of the financial benefit you’ll obtain from appreciation if you’re lucky enough to purchase a property that appreciates in value over time.
