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 it, that is 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 heart of the city, a condominium could appear to be a decent option. Many people prefer it to living 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.
8 Reasons Why There is a Rise of Preference in Condominiums
1. Advantage in 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 are 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.
Condominium is also a wise investment. Which is why people – mostly those who are OFW, invests to real estate specifically condominiums. Investing in condominium is also a good investment since the value is appreciating and not depreciating. The longer the years you are investing, the bigger the value that you will get.
2. Proximity to establishments
Condominiums are located in the metropolitan cities wherein accessibility is reached within the hands. When living in a condominium, you are able to get in those places and establishments which are within proximity. It is very quick to get into 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 of preference in condominiums.
Worrying to get late into your destination will be eradicated since the travelling time is cut offed. Essential places such as hospitals, churches. markets, malls, banks, government offices will never cause you long waiting time to get in to your time.
3. 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 on of the top reasons of the rise of preference in condominiums. It is important to remember that most condo dwellers have access to numerous of 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.
4. Security and Safety
If you decide to live in a condo, you’ll also get the perks of being safe and secured. 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.
5. Choice in Space
If you don’t manage to pay for getting for a large and gigantic house, then the condominium could be the excellent choice to choose. You will observe that you may get sufficient area simply through having to pay for a minimum amount. You will observe that you may get such a lot of different offers from the condominium, greater than you may get from the houses. The condominium gives greater functions simply to ensure which you are snug withinside the condominium, greater than anything. It could be so helpful, and you’ll revel in the gap in case you are a large or big amount of family.
6. 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 a 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 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.
7. 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 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 the growing preference in 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 in an independent way. It is like living your life without supervision of other people – such as your parents. In a condominium, you can move without hesitations. You are free to do whatever you wanted to do.
8. Value Appreciation
The real estate industry specially the condominium market is a wise investment. This is because the value appreciates form time-to-time. Condominiums stand as the 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.
