Is Condo Living Good For Senior Citizens?

Oct 28, 2021

It's critical to consider the next phase of your life if you're approaching retirement age. There are more alternatives accessible to retirees than ever before, whether you choose to stay in your city or relocate across the nation to an urban environment.

Condo living is becoming more popular, particularly among those unable to maintain a separate home but are not yet ready to move into a confined retirement community. Vista Residences believes that the condo lifestyle provides the ideal blend of independence and security, from traditional city condominiums to co-housing spaces and specialized communities. Here are a few reasons why you might want to consider condo living as a senior citizen:

The Benefits of Condo Living for Retirees

Living in a condo has several advantages over living in a separate home, particularly for retirees who wish to modify their lifestyle while avoiding the hassles of homeownership. While living in a detached house might be a fantastic choice for young people, the problems frequently outweigh the benefits over time.

Read: Condo Investing: Should You Invest in a Retirement Home?

Affordability of Condo Living

First and foremost, purchasing a condo is often less expensive than buying a single-family house. You don't own the building outside or the land around it, which might save you a lot of money on the purchase price and ongoing upkeep. A lower purchase price permits you to spend more of your money on hobbies, family, and other interests if you're approaching retirement age.

Amenities of Condo

Condo living provides access to various facilities, ranging from athletic amenities like pools and bowling greens to social amenities like common living areas. Many retirement condominiums provide commercial amenities, such as full-time stores or visiting practitioners, so you can get goods and services right on the premises. Access to age-specific amenities allows you to stay active for extended periods while also allowing you to socialize with your new friends and neighbors.

Social Support in Condo Living

Having a condo can drastically improve your quality of life. Rather than isolating yourself in a standalone house, condo living allows you to form new friendships with individuals your own age. Social support arrangements in retirement condominiums may be complex, ranging from social and athletic groups to regular events and day excursions. Don't forget to check into "membership" and the activities schedule before deciding on a condo.

The Perfect Living Space

The location is ideal for you. Living alone in a large house may be lonely for anybody, but it is especially so for seniors. Coming home to an empty house is bound to make you feel lonely. Isn't it true that no one wants to grow old and feel alone? A condominium is an ideal answer for this. Even if you are surrounded by people, you have your own personal space.

Lack of Maintenance 

When you live in a traditional home, you are responsible for all of the upkeep and cleaning. On the other hand, Condo living needs very minimal maintenance, as each member is only responsible for the interior of their own unit. In return for monthly condo fees, all exterior and shared area upkeep is handled, so you never have to bother mowing the lawn or cleaning the gutters.

Location and Lifestyle

Because you aren't purchasing the property and the condo can be located in a vast high-rise structure, you can frequently afford to be in a better location than you could in a typical detached home for the same amount. Condos are commonly located near popular retailers and restaurants, reducing commute time.

In retirement, convenience is locating a residence where all essentials and essential items are easily reachable. Condo living provides you with the comfort you want, with ideal locations near medical services, leisure, and business. Vista Residences' properties are located near shops, restaurants, banks, malls, and grocery stores, making it easy to buy needs without going far or taking public transit. Furthermore, going to perform errands counts as exercise! Location is also essential to those who are pursuing their corporate lives.

Safety and Security Assurance

Theft and other criminal ploys are easy prey for senior persons. Condo living can provide you with peace of mind due to the many security and safety measures in place. The majority of condominiums are exclusively accessible to residents, and condo unit owners must authenticate visitors before allowing them to enter. On-site security is provided by CCTV cameras and roving security officers 24 hours a day, 7 days a week.

Condominiums are also safe because of their high-security fence and gates. Sprinkler and smoke detection systems are also installed in the majority of condominiums. Finally, you have someone to assist you in an emergency. All of these safety features make condo living a secure environment for senior citizens.

Challenges of Condo Living

Despite the numerous advantages of condo living, it may not be suitable for everyone. Many individuals are turned off by the existence of condo fees, which require tenants to pay monthly fees to the condo board in addition to their mortgage payments. Depending on the community, condo fees might add hundreds of pesos to your monthly budget for a home you already own.

However, it's crucial to remember that people who own residential properties must also spend a significant amount of money every month for building maintenance and admission to athletic and social groups. Monthly fees are more straightforward to budget for in many ways than significant maintenance expenses, which sometimes come as a surprise. Condo living fees also play a vital role, allowing seniors to relax and enjoy life instead of wasting time and energy on property upkeep and repair.

Another difficulty of condo living is the implementation of rules and regulations. While most of these limitations are based on personal responsibility and common sense, not everyone appreciates being told what they can and cannot do. Before you choose a retirement condo, read the rules and regulations, meet the board in person, and get to know your neighbors to discover if any of the requirements are too restrictive. Regulations differ significantly amongst communities, so search around to find one accepting and accommodating to your ideal condo living experience. 

Is Condo Living for You?

Condo living in the Philippines provides a comfortable lifestyle with a variety of options at an affordable price. Embracing a condo lifestyle is the most excellent decision for you if you want to spend your senior years with an upgraded lifestyle, comfort, and convenience while keeping your retirement money in control. 

Condo living is fantastic for spending your retirement years because of all the benefits that come with it. If you want to invest for your retirement, let Vista Residences help you with your condo living options. 

If you are thinking of investing in a condo, check out Vista Residences.

Vista Residences is the condominium arm of the country’s largest homebuilder, Vista Land & Lifescapes, Inc. that offers ready for occupancy and pre-selling condominium projects in Manila, Makati, Mandaluyong, Quezon City, Ortigas, Baguio, Cebu, and CDO that are strategically located within major cities, in close proximity to premium universities, transit oriented locations and developed business districts.   

At Vista Residences, unit owners can take advantage of the property’s centrality. The properties of Vista Residences are strategically located near the country’s premium universities and CBDs, making them an attractive investment for both local and foreign investors.

Living in Vista Residences enables you to enjoy convenience, where everything is pretty much within walking distance or a few minutes away from the property; comfort because the project features and amenities are designed to deliver comfort at all times, which makes condo living a worthy investment; security that is 24/7 and CCTV monitoring, which makes the residents safe and secure within the property.

In line with Vista Residences’ thrust to offer convenience among its residents, it also features an AllDay Convenience Store and Coffee Project in all its projects.

For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.

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