It can be unclear at first trying to distinguish between a condotel and a condominium. However, it is not too late. Both properties make good real estate opportunities because they have plenty of value.
However, what separates the condominium from the condotel? By definition, a condominium is a real estate property building. It is usually a high-rise building with other units that other people own. Meanwhile, the condotel functions like a condo. However, normally, the condotel is found in an actual hotel.
What are the other things that separate the two from each other? And between them, which is better to get?
Price
A huge factor that distinguishes the condotel from the condominium is Between the two, the condominium costs less. For comparison points, however, condominium fees may seem quite pricey due to the Homeowners’ Association fees linked to the condominium. The condominium’s amenities need maintenance to remain usable for other condominium residents. If a resident refuses to pay for the maintenance of the amenities, the fees shouldered by the other condominium units get higher.
Condominium units can cost as low as $30,000. However, it can also depend on the kind of condominium (and type of unit) you are interested in buying.
On the other hand, condotel units can start as high as $200,000 and go up to $3 million or more. Condotel units are more expensive to buy because of their attached fees. As they also function like a hotel, amenities, and others may need more maintenance.
Amenities
Another factor that differentiates the two is the amenities. Normally, a condominium has a community pool and common areas like a gym. Meanwhile, a condotel will have the amenities of a high-end hotel. A condotel would have a restaurant, a lounge, a spa, etc.
When it comes to amenities, the condotel takes the cake.
There are plenty of real estate opportunities at Sherwood Hills Township Megaworld.
Services
The services you get – and their level of service also are part of the comparison points between a condominium and a condotel. In a condo, you will do some things yourself. However, more major things, such as having a room fixed, fall to the management.
In a condotel – or rather, condo hotel – you would receive a higher level of service than a condo. In a condotel, there will be daily housekeeping and access to room service, concierge services, maintenance services, and check-in services.
Location
Condominiums are found mostly in urban areas. You might also find condo developments in resort areas. In every major market, it is not uncommon to find condominium developments.
Meanwhile, you can find condotels in only a handful of locations, most of which are major resort areas.
Rental Income Potential
You can rent out your unit when you’re not using it, but that means plenty of fees. Meanwhile, it is easier with a condotel because the details will be handled for you. If you are not using your condotel unit, you can have it placed under the rental program.
Wrapping Up
A condotel has better amenities, making renting it out easier. It may also be easier to market it.
Author’s Bio:
Angelo Castelda is a freelance writer and digital nomad who loves to travel around Asia. He finds comfort in working around the beautiful islands, mountains, and beaches of the Philippines, which is where he usually draws inspiration when writing about travel, lifestyle, and real estate.
