Aside from location, one of the biggest considerations when making a property investment decision is choosing between a house and a condominium unit. In the yesteryears, the clear answer would be a house, as owning landed property used to be an established status symbol, and a dream that everyone wants to achieve. However, over time, condominiums have redefined what a home looks like.
If you’re still not sure whether a condo is what’s best for you, then here are some reasons why condo living is better than home ownership:
Reason # 1: Condo living takes you closer to everything
Real estate development nowadays is usually concentrated into designated areas. While we would still see a handful of standalone buildings, we could see a lot of construction happening in a township project or pocket developments – a few to several hectares of land owned or managed by just one property developer where office buildings, malls, and condominium buildings will be built on. We also see some existing and upcoming malls for which condominium projects are built either on top of it, or just beside it.
This strategy is usually referred to as live-work-play, and is a selling point that makes demand for such property high. For condo buyers, this brings them closer to work, and to essential goods and services. For companies, this gives their operations strong amenity support by being close to dining options, as well as banks and other services.
Of course, there are cities where office buildings aren’t favored. A condo for sale in Las Piñas City in the Philippines, for example, will not exactly leverage on being an office market as compared to Makati Central Business District or in Bonifacio Global City, so condo options in such area offer proximity to other areas such as schools, hospitals, or key transportation facilities.
Meanwhile, horizontal residential projects such as subdivisions and villages are typically located just near but not really inside a township project. With this, the point goes to condos are they can be more centrally-located.
Reason # 2: Condos are equipped with amenities that are hard to have in a home
Another great selling point that condos have is the availability of amenities such as pools, function and reception areas with properly installed Miseno sinks, and sometimes even other wellness facilities such as a gym, or a court for certain sports. You can see some great examples of luxury amenities from property investment companies like rw-invest.com where their latest developments include a spa and energy efficient technology exclusive to residents.
If you would like to have this in a house, these facilities would take up space and huge investment costs which you might not be able to maximize. For condos, you can use these facilities just when you feel like it, and the property management team maintains it for you, making it one thing less to worry about.
With that in mind, you can save a lot of money in investing on such amenities, or in paying for membership in availing such amenities elsewhere, as well as in maintenance costs. Other than these, you will be able to save a lot of time, as well as a lot of space.
Reason # 3: Condo property management is a huge help
When you own a house and lot, the upkeep is typically entirely up to you. Even in villages and subdivisions, the homeowners’ association would usually be concerned about public facilities so your home would be your responsibility.
Meanwhile, in a condominium, the developer will have a dedicated property management team that would handle the maintenance of the condo’s structure, as well as common areas such as hallways, elevators, and amenities. This leaves your responsibility limited to just your unit.
Security would also be under the property management, so you can feel safe knowing that only residents and registered guests are allowed access in the building.
Condo living may just be for you
While owning a landed property is still a dream for some, condo living has definitely proven that it’s something that is fit for modern times. It brings you closer to everything, and lets you enjoy amenities, while taking your mind off of maintenance and security.
So check out condo options now – condo living might just be perfect for you!
