There are buyers or people don’t know the benefits in owning or investing Condominiums. Their reasons is they might loose it after 50 years and they can’t own the land title. Many of them clogged-up their minds in land owning, but they don’t know that could create more money in return from investing a condominium property comparing to own a lot outside the city and far away from the City.
Making money in condominium is much easier and faster comparing to land investing.
More benefits in owning and investing Condominium are stated below.
Safe & Security
Security is becoming the No.1 reason for purchasing a condominium as most modern complexes are located in private, gated and very secure developments. This is especially important to retirees and to single persons who live alone and want the added security to their lifestyle.
Condo communities’ main entrance is controlled by a security guard in a gateway and a concierge in the lobbly: twenty-four hours a day, seven days a week. The security personnel do not only monitor who comes and goes, but also oversee a network of CCTV cameras strategically positioned throughout your condo community.
Maintaining a 24×7 dedicated security for a single-detached home is very costly. It’s more advantageous to stay in a condo because your security cost is already included in the monthly condo dues (approximately P1,600 for 32 sq.m studio) compared to hiring a security guard which will cost you at least P 10,000 per month for the 8-10 hrs service.
Also, Condo Property Managers greatly consider incorporating many different fire-safety features into its communities. Condo buildings are designed to withstand and contain fire, should there be a substantial smoke or fire occurrence, fire alarms are automatically triggered. Individual units have sprinkler systems that will automatically activate should the need arise, thus help contain and stop any fire. A;; stairways and hallways can receive a separate supply of fresh air to provide a safe and smoke free exit. Common hallways have smoke-and-heat-sensors, a fire hose and a direct telephony to contact the nearest fire station.
Recreation Centre & More Quality Time
As a condo owner, you will have complete access to all community recreational facilities. When looking for a condo, make sure you have a careful look at the Amenitie Floor Plan to ensure that you are aware of all additional lifestyle features.
Condominiums have amenities such as swimming pools or kiddie playgrounds, their own clubhouse with fitness rooms and much more. If it were not for this great condo package in your very own community, it could have been more costly and difficult to afford. Condominiums are ideal homes for people without children or even some with a big family. In transport from their home to the club house for the recreational activities of their family. In condominium living, you have a hassle-free lifestyle that allows you QUALITY and SAVED TIME for you family.
Entertainment & Entertaining
Most Condominiums include a clubhouse with recreation and entertainment facilities available, so whether you’re hosting a dinner for eight, a movie night for 10, or a poolside party for 150, there’s a room for you. Even if you are only a studio unit owner, you will still have an equal opportunity to host a big party. Unlike in a single-detached home, you need to have a big ballroom/living room to host one.
Condominium lobbies are meticulously designed and decorated by top notch architectural designers and welcome you with elegance and sophistication. Condominiums’ professional landscapers create a manicured garden and lush outdoor environment. With the condo grand lobby and reception area, your guests and visitor can be entertained and attended to. Business meetings can even be done in the lobby, function rooms or in the clubhouse.
Minimal Housekeeping and Maintenance Effort
For those who travel a lot and most of the time are out-of-town, condominiums can be an excellent option. If you have to travel for work, you know the problems that can arise from having a home setting empty for weeks or months. Burglaries, graffiti and so on are common results of leaving a home empty. With condominiums, it is much harder for someone to tell if a person is home or not. This makes condominiums very popular with Balikbayans and certain inter-island business people.
Condo homeowners association empowers Condominium Property Managers to see to it that the building and units are properly maintained and well kept. While a detached home requires a lot of maintenance to keep it in good shape. Condominiums usually cost less to maintain than detached homes. A replacementof the high rise’s roof may be higher in cost that that if detached single-family home, but the GOOD thing about condominiums, cost is shared among the homeowners, thus making it very minimal.
You need an inspection completed before buying a condominium. Basically, when you buy a condo, you also buy and own the entire building in which your condo unit is located. For any cost or corrective works that will arise for common areas (i.e. hallways, roofs, plumbing and drainage system). As a co-owner of the building, you will only be assessed of your proportional share – which will be collected thu the monthly condo dues.
With the current power problem we have in the Philippines, it is important to check if the building has reliable standby generation system that can provide 100% back-up power in case of brown-out.
Strategic & Prime Location
Condos are usually located in well established, proven neighborhoods. Giving you the opportunity to see where everything is even before you decide to buy. Some condo units may relatively be smaller in size as compare to houses but the fact of living in a condominium gives your rightful ownership, accessibility and use of all other functional amenities like the lobby, where you can receive your visitors, service rooms where you can do some fitness exercises, functions rooms where you can conduct business meetings, the pool side where you can relax and enjoy the waters, and many more amenities just right at your doorstep.
Condominiums are often found in locations where land ownership would not be economically feasible due to its high cost, and consequently a condominium project would be the very viable option for development. Some examples might include prime commercial-business district locations, waterfront locations, and other locations in very close proximity to leisure amenities (shopping malls, golf courses, white sand beaches, mountain trails, etc.).
Value for Money Lifestyle Alternatives
For those new starting couples, affordability may or may not be an issue. But for the empty nester who used to live in big subdivision houses, trimming down on cost, difficulty in coping up with rising expenses, lawn and garden maintenance, security guards, lengthy travel time to business and leisure, may be the most frequent issues. Or, maybe if the both spouses work, a traditional single family home may be just too much work and unfitting to their lifestyle. In summary, single detached houses are not only constly to maintain but also needs more time to maintain. Today, time is a luxury that most people don’t have.
Herein the Philippines, despite the relatively higher cost of condo unit’s compared to detached houses, Condominium Living remains attractive to many. ESPECIALLY that Condominiums are not just Livable, Comfortable and Enjoyable units but also a Smart Investment. This unique residential complex offers you a wide variety of benefits… the ownership of a residence and a lifestyle that’s cost-effective and rewarding!
Courtesy of: RAMERO F. ESPINA
Primary Homes Inc.