Condo living is usually seen as the epitome of modern-day city-living. Urban centers tend to host numerous condominium projects, and this seems to be the case all over the world.
Condo living isn’t reserved for those who can buy a unit either as you can find a lot of condo leasing opportunities, such as those that you can find by keying in “condo for rent in Quezon City”, giving you all the rentable condominiums in the largest city in the Philippines.
But is the condo lifestyle the right way to go for you? Here are some points for that can help you decide:
1. Location and accessibility
One of the biggest advantages of living in a condo is that condo projects are typically located in key areas, especially business districts and township projects. This gives you access to all the establishments in the location such as offices and malls.
This is something that’s hard to achieve with landed property as local governments or private landowners would want to maximize land utilization, so you would not find a lot of house and lot options having the same level of accessibility to key locations that condos have.
2. Living in a shared facility
Another major consideration when deciding if a condo is for you is that condo living involves living in a community that is literally living under one roof. You are bound to meet other residents in the elevator, the hallway, in the amenities, and other shared spaces within the condo. Of course, condo projects offer residents enough privacy within one’s unit, so you would still be able to enjoy your peace and quiet when you are in the comforts of your condominium unit.
But since you are living in a shared facility, that also means that you have to follow certain guidelines and policies that your condo would have for its residents. This means that there are certain limitations to what you can do with your space. But all these help promote harmonious living among the condo residents.
3. Condo-related expenses
Something unique to condominiums is the need to pay for building dues. This is typically used to operate and maintain the common areas as well as amenities. The building dues also help pay for security. While building dues seem like additional expenses, this helps you enjoy the condo living experience to the fullest.
There are also other special assessments that you need to prepare for such as property taxes and insurance, both of which you have to pay for anyway if you own a landed property, but have some level of variation because you are just looking at a smaller floor area.
4. Limited space
Speaking of smaller floor area, one of the drawbacks of living in a condo is the feeling of having limited space. A condo unit is perceived as just a small space as compared to owning a landed property for which the yard definitely gives the impression that you have a lot more space.
But if you really think about it, living in a condo gives you access to amenities and facilities that are hard to place in a house. Think about how much more space and money you would need in order to have a pool, a gym, a garden, and even function rooms in a house. You wouldn’t even need to think about the upkeep of these facilities as the property manager will do it for you.
So, is condo living right for you?
There’s no single answer whether condo living is the right way to go. It really depends on whether you are amenable with the points of consideration listed above. So if you think you’re okay with the above-listed factors, then condo living may be suitable for you.