Are you still wondering what benefits your family will enjoy when you live in a condo? For one, living in a condominium cultivates a practical lifestyle in the long run. Check out these perks that will surely encourage you to purchase your family’s very own condominium. Yes, even as a newbie in the real estate world.
Safety and Convenience
Every family values safe and secure spaces above all else. Especially if you are raising kids, it makes you at peace knowing that not just anyone can enter your building premises. In a condo, you will have your own security guards, CCTVs, and reception area to cater to your guests and family members who visit from time to time.
Convenience is a given too! The shopping malls, grocery stores, transportation terminals, and business districts are all accessible to you because you live in a condominium. You don’t have to worry much about traffic and long drives just to get what you need.
Access to Private Facilities
Most if not all condominiums brag about their amenities that make family life more holistic. In summer, the scenic view and clear water of condo pools can provide your family with great bonding experiences. Contrary to when you opt to live in a house, building a pool and maintaining it would cost a fortune. It does not have to be that expensive to have regular pool access if you live in a condo; you will be able to experience a luxurious lifestyle by enjoying pools and Jacuzzis anytime.
Of course, you will also have access to gyms, playgrounds, and picnic areas to spend time with your family and friends. Well, some condos do not have all these facilities but you get the idea.
Investment
Well, you wouldn’t argue if agents would promote condos as investments because they certainly are. You can live in your condo and enjoy the amenities while you save up for much bigger properties in the future when your family grows even more. Condominiums can eventually be sold at a higher price. You can also lease it to professionals or students on a short or long-term basis. It would be a good income stream enough to shoulder maintenance, association fees, and some of your family’s personal needs.
Leon Howard, a Wall Street Trapper reiterates that if you want to make money work for you, first you must get into stocks, then start a business, then get into real estate. Yes, you read that right – get into real estate.
Networking
In a condominium, it is likely that you find yourself living alongside before who share your vision. For example, you are most likely to encounter potential business partners and clients who are also building their families. You will possibly interact with professionals more frequently since you share the same lift, pool, car park, gym, and many more.
Prestige
Through your condo developers, you can afford world-class architects and builders for less than the amount you would need to hire a personal one. But there is nothing wrong with having your own preferred builders; the ones that you also trust and regard highly. But insofar as condo living is concerned, you wouldn't have to stress yourself talking to them anymore. You just have to deal with your agents and property managers.
Customization
Should you wish to arrange for condo customization, the management of your preferred condo may provide you with a list of trusted and famous interior designers to assist you in redesigning your place. They might as well offer you services at a discounted price since they are tied to the condo management, and you are their customer.
Instead of you looking for interior designers in the marketplace and do not know which agencies to trust, these are all served to you on a golden platter. Unless of course, you prefer your own designers. Also, note if condo customization is allowed in your condo purchase contract.
Accountability
Yes, the condo management will be accountable for your needs and complaints, depending on the terms and conditions you both signed. But this simply means that you will be more confident investing especially if you are a first-timer in real estate. This scratches off some of the worries you may have in your family life.
Unlike when building your house from scratch, you don’t even want to research all the process because you are quite familiar how stressful and time-consuming it is. At the end of the day, you choose your own battles. If you want to be more accountable or be more hands-on, then you have the choice to build your own. If you want less stress, then you know what to do.
Minimalist Living
Are you a fan of the Japanese people and their lifestyle? The way they build their houses and arrange their things in a minimalistic and Zen way has become a trend. You can apply this lifestyle more relevantly if you invest in a condo. You will be more disciplined in your finances because you will only purchase essential appliances or things that fit limited spaces. Less clutter, more peace of mind, and more space for your young family.
Property Management
If you and your partner are busy people who don’t have much time to understand the nitty-gritty of your condo investment, you can hire property managers or property management firms to help you understand matters more simply and efficiently. They are the same people you can approach should you wish to lease or sell your unit in the future. Just make sure you review all the terms and conditions in your contract with them.
Your Decision
Are you still confused about whether you want to build a house from scratch in your acquired lot or purchase a condo? Well, it might be helpful if you check out this more detailed comparison of house vs. condo living.
It all boils down to your priorities and what you think is best for your family right now. If these benefits mentioned above look appealing to you, then a condo might be best for you. Just make sure you have chosen the location properly and in line with your budget.