This is an article about apartments and I will briefly explain what are the benefits of living an apartment.
Mid- and high-rise developments continue to sprout across the metro because there is also an increasing demand for condo living. Starting families, for one, find it more convenient and less time-consuming to move into a condominium unit than wait longer for the construction of a house. Millennial, on the other hand, think condos are the most ideal, especially because of the accessibility to the majority of schools and central business districts. Even old couples consider retiring at a condominium development, as this lessens their worries and consequently grants them more time to appreciate the surroundings.
If you’re looking into owning a condo but haven’t fully convinced yourself that it’s worth the investment, below are the top reasons why living in one has its advantages.
1. You can access first-class amenities at a very low cost.
While condo living would require you to pay a certain amount for the maintenance of the building’s amenities (usually in the form of association fees), this fee is still much lower than the amount you would spend should you want your own rooftop pool at home, or set-up your own private gym. One of the greatest perks that come with living in a condo is the bargain you get with first-class amenities and facilities.
2. Condos in key cities have high resale value.
The property sales value of a condo rises with inflation, the improvements of the building, and the overall appeal of the condo in terms of prestige and location. You can be sure to be rewarded with a competitive market and high condo resale value. It may be quite expensive to buy a property for sale marc residence.
3. Condominiums can easily be rented out.
With the growing condo rental market in the Philippines, you can also offer to rent out your property at a competitive rate and get favourable returns. Many employees and students these days, especially those who are not originally based in the metropolitan area, prefer to rent a condo than travel long distances from their home to their school or workplace. This a smart financial move for condo owners who are looking to gain profit from their condo unit without having to sell the property itself. You can consider verve suites kl south for rent as well.
4. Condo units are easily transferable.
Having a real estate investment, such as a condo, is a practical way to transfer wealth. Because condos in the Philippines are situated in key locations, parents usually find that it is highly convenient and practical for their children to live in a condo near their school or workplace, instead of renting out an apartment that would most likely cost a fortune.
5. The initial financial demands of owning a condo are much less.
Buying any real estate property would require a certain amount of down payment. If you are a first-time homebuyer or a young investor in the early stages of your career, then it is likely for you to get a better deal at a condo. The money you could potentially save after paying a smaller down payment can be used to make the process of owning a property—and eventually living in it—more affordable.
6. Owning a condo poses minimal utility and maintenance costs.
A valuable property such as a condo can be maintained at a lower cost. Sharing the cost of the building amenities with a number of homeowners can translate to savings that can be used to purchase other things.
7. A condo unit is an ideal business space.
Today, more and more businesses are housed in condominiums. This is because most condos are located near central business districts, making it a practical and sustainable venue for an office.
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8. Someone else handles the outside work.
One of the biggest draws of condo ownership is freedom from maintenance you might not have the time, desire or ability to tackle — like mowing the lawn or repairing outside structures. Your monthly condo fees cover these services.
9. Many major costs are shared.
By law, a portion of those condo fees goes into a reserve fund. When the property is well managed, this fund covers major repairs like replacing windows and roofing without additional costs to owners. Even when the reserve fund falls short, you’re not in it alone — a “special assessment” will be done and costs will be shared equally among owners. The verve suite apartment will probably have their own set of maintenance fees.
If you prefer to live on one floor or in a one- or two-bedroom home, condos allow you to own your own space rather than rent so you can buy verve apartments. Common areas like pools and recreation rooms offer opportunities to socialize with neighbours. Many condo developments cater to specific groups — like young professionals, families and older adults.
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