When buying a home, you have the option of buying a standard house or a condominium. Aside from location, one of the most significant considerations when purchasing a home is the style of housing. Condo ownership involves the living space inside the condo unit and the luxurious, convenient common area of the condo building, whereas homeownership includes both the house and the land beneath it. Nowadays, condo living is springing up like mushrooms, especially in the urban places in the Philippines. They are a stylish, cost-effective alternative to a pricey house and lot. If you are having a dilemma about whether or not to buy a condo, here are the top reasons why a condo is preferable to a house and lot.
10 Reasons Why You Should Buy a Condo
Comfort and Luxury.
First-class amenities and superb building features are available in a ready for occupancy condos. Many people prefer a house with a yard, but condominiums are still attractive options because of the numerous benefits they provide. Comforts, luxury, and security are just a few of the features that make a condominium appealing to folks who lead busy lives. Fitness rooms, sky lounges, swimming pools, and many other amenities and luxuries are available. Though many people still prefer to possess a house and a lot, having a condo already qualifies them. Condominiums provide a similar standard of living, but without the long commute to the city, the maintenance of fixtures, or the upkeep of lawns or gardens.
More affordable than a house and lot.
Condominiums, especially in prominent locations, are often less expensive than houses and lots in the same neighborhood. The median list price of houses in Metro Manila is PHP 14.5 million, which is more than double the median list price of condos in the city which is PHP 5.9 million. Houses are more expensive than condos because they take up more space. Low-end and mid-range pre-selling condo is also within reach of first-time purchasers and middle-income families, with studio units in Metro Manila starting at roughly PHP 1.7 million.
Proximity and accessibility.
Condo purchases are the newest trend in property ownership. Owning a condominium is practical, although it appeals more to singles, newlyweds, or people with small families. Many folks in the Philippines are looking forward to experiencing city life these days. Condominiums are preferred by those who come from the provinces since they are more accessible to the metropolis. Due to accessibility and location, people who work in metropolitan areas prefer condos to houses and lots. Condominiums are built within cities by many developers in the Philippines, including Vista Residences. With convenient access to commercial establishments, malls, recreational areas, hospitals, and schools, the condo's strategic position ensures trouble-free and hassle-free condo living.
More preferred by city workers.
Working people, particularly in the Philippines' urbanized areas, find daily long commutes stressful, exhausting, and less productive. Those who live a long distance from their workplace may not be able to work overtime even if they wanted to. It takes a long time to go through severe traffic every day. It might be tough and risky to commute at night. As a result, having a condo near the metro makes it safer to live there. Consider this: you also get security services as part of the package.
When opposed to developments, most condominiums provide a higher level of security. Condo design offers 24-hour security and CCTV cameras, as well as smoke alarms and fire sprinklers in every apartment and corridor. While most developments have roaming guards and some exclusive villages also have CCTVs, maintaining rigorous security in larger subdivisions is more difficult than in smaller condo buildings.
A condo apartment requires less maintenance than a house and property. There is no need to stress about mowing the lawn, removing leaves from the roof, or cleaning the gutters. Condo owners are only responsible for the interior condo design maintenance of their unit. The condo administration is in charge of keeping the public and outdoor areas in good repair for the inhabitants.
Sense of community.
One significant advantage of condo living is the opportunity to form deep bonds with your neighbors. During condo association meetings and by running into one another in the common spaces, the majority of residents will learn to know one another. It is a great way to meet new people and build a network, especially if you are new to the city.
Quick selling features.
Condos have qualities that help them sell quickly. In comparison to a house and land, if the owner intends to resell a ready for occupancy condo in the future, its amenities, location, building features, and lower prices offer it a better chance of selling quickly. The condos' location is one of their outstanding advantages. The majority of homes are placed distant from business locations, which might make it difficult to get to important hubs. Condos are usually only a few minutes distant from major metropolitan centers. This can make a significant difference.
Because your monthly payments help ensure the building or complex you are in, your homeowners’ insurance just needs to cover the inside of your property when you own a condo. A house, on the other hand, necessitates both interior and exterior coverage. As a result, your premiums will frequently be less expensive than the insurance required for a home.
Condominiums in the city appreciate in value. The owner can either rent or resell the unit in the future. As a result, there is no reason to be concerned about equities. If the decision is between a condo and a house and lot based solely on investment rather than occupation, condominiums are a better investment than a house and lot since they are less expensive. In the long run, this form of investment would relieve the owner of tension. He will be able to relax knowing that he's put his money where it will thrive, in addition to having fewer worries with property maintenance.
If you are looking for a new home and condo, Vista Residences is the best option for you! 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.
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.