Condominiums and Urban Living have absolutely changed the way we live and interact with our surroundings. As a combination of functionality, practicality, convenience, and luxury, condominiums have been designed to make our lives easier by giving us all the amenities we need at home while letting us live in fast-paced, urban environments.
For those of you unconvinced by how great mid-rise condominiums are, this article is for you. In it, we discuss all the essentials of mid-rise condominium living.
What is Mid-Rise Condo Living?
First of all, what is mid-rise condo living? It’s a condominium building structure that’s divided into several units. Condominium units are owned outright – as opposed to apartments that aren’t. The common areas, however, aren’t owned by one singular person. Instead, it’s managed and taken care of by the property managers, who are responsible for the upkeep and maintenance of the corridors in the ground floor, walkways, laundry rooms, and common utility areas.
Deriving from the Latin words “con” and “dominium”, which means together and ownership, respectively, a condominium is a joint dominion amongst condo owners in an effort to build a great and supportive community.
Specific to mid-rise condominiums, these are buildings typically with more than four floors but less than 12 floors. Simple buildings with catwalks and hallways span the entire land area, the area itself spans from ranges of 1,000 to 3,000 square feet.
Top Reasons To Choose Mid-Rise Condominiums or Mid-Rise Apartments
Given all that information, why would you ever want to choose mid-rise condominiums? There are so many better options out there, right?
Well, not really. There are inherent advantages to mid-rise condominiums that high-rise apartments- and low-risers just don’t offer. In this section, we go over some of them.
Security
Most mid rise buildings are smaller than high-risers, that’s true. But that also means there’s less ground to cover for the security personnel. With less square feet to cover in a building, the security personnel are better able to provide their services and monitor the halls for any unwarranted visitors.
Peace
To that same tune, because mid-rise condominiums are naturally smaller spaces, you’re also able to enjoy you’re peace more. With less people living in the building versus that of high rise condominiums in high rise buildings, the hallways and common areas wouldn’t be as congested as they would normally be in larger condominiums.
This also holds true to the outside environment of the space. Mid-rise condos aren’t normally located in busy, highly-urbanized areas of the city. You can most often find them in family-friendly areas with a growing community and accessible essential establishments such as convenience stores, grocery outlets, schools, and hospitals.
Value
When it comes to prices and general living, there’s no other better investment than mid-rise condos.
From the renting perspective, the prices of renting a mid-rise condo is also, surprise surprise, mid-ranged. It’s the perfect place for small families or for couples to start their life because it not only provides an adequate amount of floor space available for living, but it also provides these amenities at a much more attainable price. Perhaps the only con to this is that the amenities available in mid-rise condos are definitely not up to the luxurious standards of the high-rise apartment buildings but that’s not really a problem, as the assumption here is that the people living in mid-risers are only now starting their careers and are thusly spending most of their time there.
We’re not saying that this is a problem by any means but with these people starting off their careers and using up most of their energy in the workplace, it’s safe to assume that they won’t have the time to work out or walk around anywhere else.
From the buying perspective, mid-rise condominiums are just the perfect investment to make – if you can afford it. We discussed that the primary target market for mid-rise condos are the people that are only getting their careers started so it’s safe to assume that at this point, they wont have much money to make investments, especially into real estate.
If you do have the money, however, maybe you should look at mid-rise condominiums. They’re easy to acquire and easy to sell while also quickly appreciate because of their location. The cost per square meter of the area that you’re condo is in will, more often than not, be quickly rising and you’ll be surprised to find the value of your condo more than double in just a couple of years.
While you wait for this to happen, why not live in it? Take advantage of your ownership of the condo and stay there. Otherwise, it might be best for you to find someone to rent it out to. That way, it generates passive income while you wait for it to appreciate.
Amenities
When it comes to amenities, we previously discussed just how easy on the eyes mid-rise condos are in comparison to high-risers. Though everyone wants to be unique and be world-class, the truth is, the developers of these condos understand their target market and normally find investing in amenities to be a secondary expense, that money could have instead gone to either expanding the other important places in the condo community like parking spaces or paying more maintenance and security personnel.
Location
Needless to say, there are some unique benefits to living in mid-risers and that’s accessibility. Living in mid-rise condos gives you the high-end lifestyle without the high-end price as the location of mid-risers are, more often than not, nearby commercial centers around the area. Mid-rise condos make it more convenient for residents to pick up groceries, pay bills, or dine outside without having the high costs of living in high-rise condos.
Being at the center of the social scene is perfect for those who want a healthy mix of career growth and want to experience living their independent lives. The accessibility that mid-rise condos afford does just this for everyone and so much more.
Best Places To Live In Mid-Rise Condos
We highlighted the accessible locations of mid-rise condos in the last section. So, you may be wondering: Where can we find mid-risers? Don’t worry, we took a look at some of the more prominent ones that Crown Asia has to offer in the following locations.
Tagaytay
Tagaytay is undoubtedly one of the country’s most popular destinations for domestic tourism because of the scenery and the cooler climate provided by its altitude. Tagaytay also overlooks Taal Lake in Batangas while also providing views of Taal Volcano Island in the middle of the lake through various vantage points.
With Tagaytay being relatively close to the capital city of Manila, it makes sense to get a mid-rise condominium here not only as an escape from the city but also as a genuine place to live, especially considering that the area surrounding it is fast growing.
Pine Suites from Crown Asia offers ready-for-occupancy units alongside easy move-in options. It’s more than just a place to invest in but its log-cabin design provides you the weekend family retreat that you deserve. Only 2 hours away from the city, get to experience a relaxing weekend away with your family in Tagaytay.
Las Pinas
If you’re more interested in urban living than a place to spend your vacations, maybe you should be looking at Las Pinas?
Located in the National Capital Region, Las Pinas has a general population of over 600,000 people and is considered to be a 1st class highly urbanized city. Being a 30-minute drive away from BGC and Makati, Las Pinas just might be the perfect distance for those who want to work inside the city while also living peacefully as the distance is about enough for the roads to be less congested than if you were in the central business districts.
Hermosa is the mid-rise condo in Las Pinas that you should visit and invest in right now. The end goal of Crown Asia with this is to empower professional growth as the location of the property is the perfect distance to provide business opportunities while also being peaceful enough to not be overtly congested and polluted by foot traffic.
Bacoor
Located right next to Metro Manila, Bacoor is the 15th most populous city in the Philippines and is another first-class component of Cavite. While the city isn’t considered primarily a tourist destination, its location is perfect for those people who want to experience provincial living without the hustle and bustle of the city – very similar to the appeal of Las Pinas.
The Meridian Mid Rise Condo is our best Crown Asia offering for those who want to live in Bacoor, Cavite that is not the traditional horizontal homes but rather a more modern and trendy vertical lifestyle. It’s a flourishing residential real estate development complete with resort-inspired functional amenities and landscaped pocket gardens.
Tips On Buying Mid-Rise Condos or Even Condos in High Rise Buildings
Now that you know that you want to get a mid-rise condo, here are some things to keep in mind while you’re on the hunt. Make sure to read through all the tips and take them to heart, it’ll give you the best chance of buying a great property.
Understand the Pros and Cons of Condo Living
If you know how much work you have to put into a mid-rise condo, then you’ll be able to value it better. In a house, for example, you’re responsible for every nook and cranny. Whenever the lights break or the lawn needs to be trimmed, that responsibility falls on you.
Because it’s so stressful in the long run, you might want to opt for condo living, where the upkeep falls on the hands of the property managers. Everything from garbage collection to amenity maintenance is easily handled by someone else. The gated community, security services, and CCTV cameras all add to this experience.
Knowing The Laws
When it comes to owning a condominium, it’s always important to know the laws. The Condominium Act, for example, allows foreigners to purchase their own condominium unit. It discusses other topics, such as selling your unit, using it for mortgage loans, and the rights you’ll have as the owner.
While knowing laws should probably fall in the hands of your lawyer, it’s always a good idea to just be aware of the laws and your rights as an owner. That way, if anything goes wrong, you’ll at least be aware of your boundaries and what you can do.
Focus on Location
When buying mid-rise condos, it’s best to figure out why you’re looking to buy one because from there, you’ll be able to assess where you should be looking to buy one. The best thing about living in a condominium is the accessibility you have to essential goods and services. Before you purchase your unit, make sure you know the surrounding area and the schools available, hospitals nearby, groceries, and offices.
That way, no matter how long you stay there, you’ll always have options for whatever it is you need.
Consider The Finances
The final tip? Make sure you can pay off the condominium. You need to be able to make sure that you’re capable of paying off the loan you’re about to take. You can, for example, consider applying for government housing loans or bank financing. Both options will allow you to pay off the loan within 30 and 20 years respectively, though bank financing will have much higher and stricter requirements than government loans.
Here’s a cool thing about condominiums, they appreciate in value while also earning you passive income if you set it up right. Passive income can be earned through renting your property if you’re not living in it. This is what many real estate investors do to earn money while you wait for appreciation.
Related Blog: The Benefits of Living in a High Rise Condo
