Advantages and disadvantages of condo ownership

Today we want to talk about the advantages and disadvantages of condo ownership. Condominium is on the rise, especially in major cities and locations Here is a great example Avalon Condo Cebu Which is located in the center of one of the most favorite places on the island of Visayas in the Philippines.

If you’re still wondering if a condo is the right property for you, here are some advantages and disadvantages of condo ownership that you need to look at to help you decide:

Condos have great location

Location is one of the main selling points of condominium. Condos are strategically located, allowing residents to access important installations such as offices, malls, grocery stores, schools – everything. This is especially true for condos located in township projects where the live-work-play concept is very much alive.

Finding such access to a landed property is challenging because city centers are usually reserved for mid-rise and high-rise projects to maximize the suitability of the land on which these projects are built.

Condo has benefits

A condo can be considered a community and as such, there are facilities and amenities that are provided in the building for the use of the occupants. Such amenities include a reception area, function room or event space, wellness facilities and pocket garden. Some buildings. Having such a facility at home would require a huge space and a lot of money but in a condo, you have these facilities and the property manager is in charge of its maintenance.

Condos are safe and secure

The level of safety in condos is usually higher than your average home. With building security ensuring that only residents and registered guests are allowed on the condo premises, you will feel safe. Modern day condos use safety equipment and tools to keep residents safe.

Condos offer limited space

One of the common disadvantages of living in a condo is the apparent lack of space compared to a house and lots of property. But if you actually consider common areas, there are actually a lot of places in a condo that you can use. And you don’t have to worry about these common areas because the building manager maintains it for you.

Condos charge a monthly fee

Advantages and disadvantages of condo ownership

Photo by Andrew Davis On Pixels

Sanitation, maintenance and utilities for common areas, maintenance of building structures, safety, all these costs are shared by the unit owners. Monthly fees are usually called condo arrears or association arrears (since it is managed by the homeowners association or condo corporation).

While this fee may seem like an extra expense, the property manager takes away the responsibility from you, giving you less to worry about than managing everything on a landed property. And since you share these costs with all the other residents, it actually costs less.

You have to follow the condor rules

Since you live as part of a community, you must follow the rules and regulations set for all residents. Sometimes, these rules mean that pets are not allowed on the premises, or you cannot list your unit on Airbnb. But the good thing is that as the owner of the unit you have the right to vote, you have given voice to reconsider the policies.

Is Condo Living the Right Option for You?

Whether staying in a condo is good for you depends on how well professionals apply to you and how manageable the losses are. If you believe that you like the advantages presented above and you find the disadvantages reasonable and manageable, then Condo Lifestyle is for you!

Read more Lifestyle article A. Cliché
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