The Perks of Living in a Condominium

One of the main goals in life of a person is to finally have a place to call his own. Having your own home is a clear indication that you have already done a lot of things in your life and that you are stable enough to be considered as a homeowner. However, planning to purchase your own home is difficult since you need to consider whether you would like to have a traditional house and lot, or to have a condominium unit. While most people would normally choose a house and lot, there are a lot of benefits in choosing to invest in a condominium. Here are some of the perks of living in a condominium.

Ensured safety. A lot of people find condominiums more appealing than a house on a lot. This is because they are easier to maintain. Condominium units are also easier to protect and therefore the safety of your family members is assured when you live in one. Although you may choose not to have CCTV cameras inside your unit, the halls of each floor are equipped with several cameras so that the building’s security personnel can easily monitor the people who are entering and leaving the condominium building. Some of the more high-end buildings have top-notched security systems which will make even the most meticulous and paranoid unit owner at ease. You can even instruct the security personnel in your building to only allow a limited list of people who can enter and visit you.

More affordable. Since a condominium unit does not entail land ownership, purchasing one is relatively more affordable than owning a house on a lot. If your condominium is within the city, you can do away with having to own a vehicle since you can easily walk or take the bus or subway to and from your unit to your workplace.

High Resale Value. If your condominium is at a great location, you can be assured that it will get a high resale value in case you want to sell it in the future. You can also get a high mortgage value for your unit in case you will need to have a loan.

Communal benefits. Another perk of having a condominium is that the shared or combined ownership of the building will let owners have access to the existing facilities and amenities such as the gym and pool for free. However, you must also be aware when you live in a condominium; you will have to pay for HOA fees or Home Owners’ Association fees. The fees collected through HOA will be used for improving and upgrading the shared facilities and security of the building.

Location and accessibility. Owning a condominium unit within the city will give you an enviable location and easier access to your place of work and other business establishments without having to have a long commute. If your condominium unit is within the city, you will no longer need to wake up too early just to avoid the rush hour traffic. Also, if you are the person who enjoys the nightlife, having a condominium unit will allow you to have easier access to the hottest clubs and entertainment venues at night.

Urban Living – The Condo Advantage

The rise in urban living has paved the way for the increase in the number of condos or apartments that are within walking distance to many shops, restaurants and other sites. As more and more people become busy with their lives, the thought of buying a condo instead of a traditional house or apartment is an attractive option that many are considering. If this is the first time that you are thinking of purchasing a condo or are still deciding on whether a traditional home is more attractive than a condo, then here are some advantages that condominiums have that you should think about. Hopefully, this would give you information that would help you make an informed decision later on.

Security

One of the best things with living in a condo is the fact that there are security measures in place in the building so you and your family are safe and secured. Some units are also pre-installed with security features such as locks, floor pass and other security concerns which make it safer for you and your loved ones. Floor passes or key cards also prevent someone from entering your floor and CCTV cameras are now the norms so any suspicious individuals are apprehended by the building security or staff.

Maintenance

Having a traditional home or house would require one to maintain the exterior as well as the interior part of the structure. If one has a lawn for example, one needs to trim down the grasses or water it to prevent the lawn from drying up. When one is living in a unit, one no longer needs to do this as more often than not, the building maintenance would do it for them. Thinking of a leaking roof and having to fix it by oneself can be daunting and life threatening especially if one has no idea how to do it. Maintenance personnel can fix it and if there are any plumbing or electricity issues, they are likewise able to do it for the tenant(s).

Mortgage Fees

Traditional homes can be expensive depending on the current market value of the place where it is situated. Traditional homes can be great for bigger families as they have more spaces; however, once those kids go and live on their own, maintaining a big home is impractical especially if one still has some mortgages to pay. For those who want a smaller place, a condo is one excellent option. The living space requires little maintenance and one can save a lot in utility bills.

Although there are some disadvantages to living in a condo such as having to pay association fees or having to seek approvals from several homeowners for certain activities, the benefits far outweigh the cons.