Condos are becoming the preferred choice of residence of every potential homeowner from the young family to the urban professional. As housing prices in urban cities continue to grow, condos offer a more affordable option for the first-time buyer or those looking for low-maintenance, convenient living arrangements.
Condos are a perfect fit for today’s fast-paced, travel jet-setter lifestyle of so many young people and starting families than living in a house. But choosing to live in a condo is not a walk in the park; there are so many things to consider when you choose to live in a condo. Below are some of them.
Many factors can affect the price of a condo from where it is located, to its age, and in-suite features. For example, if you are set to buy a condo in Alabang or a condo in Makati, you need to be prepared to have a bigger than usual budget for the typical condos.However, the upside to buying from a strategic location like Makati or Alabang is the return of investment. Your unit will most likely appreciate more than double over time, and this will be a golden investment by then. If you are interested in really low condo prices and not in a hurry to move in, you may consider preselling condo units. These are units being sold even if the condo building has not been erected yet.
You know what they say about real estate – location, location, location. While location appreciation over time like mentioned above is a factor, you need to factor in others too. For example, if you have children, you will want to live near schools; if you are a young, urban professional, you might want a city condo with access to restaurants, shopping, and nightlife. You should take some time investigating the area and the amenities and facilities that are available to you before you decide to purchase.
When we say people, we mean your neighbors. While living in a house and lot gives you a lot of personal space, condos offer only walls. You also need to share hallways and elevators. It would be ideal if you have neighbors that are your same age group – you do not want to have neighbors who party until early morning when you are an early sleeper, do you? Students might be better living in a dormitory than a condo for all the late nights. Security also plays a significant role – you need to feel safe and secure with your neighbors.