In the present era of modernization, people have started looking for more confined and comfortable spaces than big homes. Condos are one of the most recent additions made to the different property type people are opting for. Condos have become so popular that you can now find them easily, such as condo for sale in Philippines. You can find condos in various budgets and your needs. The best part about condos is that you need to pay for the space you get and use. There’s nothing extra you need to pay for. If you’re new to the concept of condos, this post will take you through all that you should know about living in a condo and what are its benefits. Read ahead to know more about why should live in a condo and how to choose one for yourself.
Reasons to Live in a Condo Unit
Are you planning to buy a condo but are in a confusion whether it will be a right choice for you or not? Investing in a condo can offer you some noteworthy benefits apart from the few downsides as well. One of the essential reasons of buying a condo is that they are more affordable than investing money in the home. If you’re looking for a reason to buy a condo, here are a few you can consider:
Live flexibly
A medium-sized condo is ideal for people who aren’t willing to get a large home due to maintenance and other reasons. In addition, a small space can provide ample freedom for people who are more willing to spend their time in travelling or having fun in the city instead of working hard to transform their home.
Affordability
In bigger cities or locations nearer to the beach, living in a condo can be better in terms of affordability compared to houses. it also makes new homeowners feel less intimidating. In a few cities, purchasing a condo is cheaper than renting apartment or purchasing a townhouse.
Cheap Insurance
If you own a condo, your home insurance will cover only the interior of your home, because the monthly HOS charges can help in ensuring the complex or building you live in. A home will require insurance for both outside and inside. This means that the insurance cost of your condo will be cheaper than the insurance requirement of a house.
Luxury Amenities Unit Owners can Enjoy
There is no need for you to live in the luxury condominium for enjoying the best amenities. Majority of the condos have dedicated community areas like a rooftop terrace, pool or fitness room which can be used without any worries of maintenance. Few condos also have a separate spa or tennis court. If a condominium complex has more amenities, it will charge higher HOA charges every month.
Community
Most of the condo complexes and buildings have separate areas for communal activities like rooftops, patios or kitchens where all the residents can get together and interact with each other. Additionally, condo communities mostly host events for the residents, such as wine tasting, cookouts, movie nights, and more.
Maintenance Coverage
Condos provide the opportunity to the residents by which they can improve ownership of homes without the trouble of garden work. Building entryways, community spaces, hallways are taken a lot of care by maintenance staff as you need to worry only about your own living space.
(Some condo units have) All appliances included
When you are buying a house, you will have to purchase all appliances such as ovens, dryers, washers and refrigerators. You can include these appliances in the sale, but you must upgrade them in the future whenever you are willing to sell your house. Most of the condos are furnished from before with the required appliances, and in a few cases, they can be repaired by paying no extra cost as the repair is covered in building maintenance charge, which is a great advantage.
High security in condo living
Most of the condo buildings have very secured entrance ways with surveillance cameras located all around. Some of them like RFO house and lot also have doormen or security guards to keep a check on the entire property. This is a great advantage for people who live alone.
Buying Guide for a Condo Unit
To choose the best condo for yourself, follow the tips mentioned below:
Find a realtor
You need to find and choose a genuine realtor. It would help if you also kept in mind that the realtor you choose has good knowledge about the condominium landscape.
Consider your lifestyle as a unit owner
Don’t forget to consider your lifestyle when you’re looking for condos. You must choose your condo unit as per your lifestyle and the kind of space you need.
Review the rules and fees
It is always recommended for you to ask about the community rules beforehand to avoid any confusion later on. Apart from the rules, don’t forget to ask about the association fees and other expenses which are covered by it.
Research the property
After you shortlist a few properties, you must do proper research about all the properties individually. This will help you to know all details about the property you’re about to choose, and you won’t be exposed to any risk.
Choose a condo from reliable real estate developers
The condo unit that you will own should also be from an established property developer brand. Looking at the track record of the developer of the condo unit that you want offers a good insight to the quality of the unit, the investment opportunities it has, and the overall benefits that you will be gaining from the purchase of the condominium development. For a condo for sale in the Philippines, reliable developers like Crown Asia Properties are a good choice for a real estate investment in the South and in Metro Manila!
That’s all you should know about buying a condo and the benefits of living in one. However, with the high availability of condominium complexes, it might become difficult for the residents to find a suitable condo for themselves. Hence, following the tips mentioned above is better to make a better choice.
Related Blog: Why Buying a Condo Unit is a Great Way to Start Investing
