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The condo is a great and hip choice for plenty of young people. This especially suits people who are looking for a modern and convenient lifestyle. With more people working in the metro, especially in densely populated areas like Metro Manila, condos are becoming increasingly popular living forms.
What makes it popular, though? And is it for you? What makes condo life so popular with the young is because of the overall convenience. Condos are mostly situated nearby urban areas and work business districts. In addition, condos offer plenty of the standard amenities that make healthy living easier: gyms, walking spaces, and swimming pools, among others.
However, whether condo living is for you is highly personal. So, before settling the question, let’s dive into the pros and cons of condo living first!
Condo living has a lot of perks and advantages that suit the lifestyle of the young and active.
Megaworld produces some of the best real estate opportunities in and out of the metro. Some of the pros include the following:
- Amenities – Condos have standard amenities and features meant to be enjoyed by the condo owners. Some of these amenities include walking areas, swimming pools, and others. These amenities are typically included in the monthly condo fees and can offer and provide largely significant value to your lifestyle.
- Security – With a condo unit, you don’t need to worry about security much. There are guards stationed every shift in a condo. In addition, you live closely with other condo owners, so you need not worry much. In addition, there are CCTV cameras that help make you feel more secure and safer.
- Location – Condos have strategic locations. They are nearby central business districts, which are the commonplace location for most offices. As a result, getting to work will be fine. In addition, they are often nearby downtown areas or near public transportation.
- Maintenance – Residents do considerably less work in a condo, as the building’s management team takes care of common areas and shared spaces. This can be a significant advantage for busy professionals or retirees who want to enjoy their free time more.
- Affordability – Getting a condominium unit is often more affordable than traditional homes, especially in high-cost urban areas and if you are a first-time real estate opportunity taker. As a result, this aspect can make getting a condo unit an attractive option for first-time buyers or those who want to downsize.
Some cons of condominium living are important considerations when deciding if it is for you. The cons of condo living are the following:
- Fees – The great amenities you enjoy in condos come with a price. The Homeowner’s Association pays for them. Moreover, over time, the fees for the Homeowner’s Association increase with time. One crucial factor is that some people opt not to pay for these fees voluntarily, which results in the fees being shouldered by those paying. In addition, the HOA can impose restrictions on what residents can do with their units, such as prohibiting pets or short-term rentals.
- Limited space – Secondly, limited space is another cause for concern for condo living. Condos are smaller and, as a result, need more space. If you are a maximalist, a condo might not be for you.
- Lack of privacy – Lastly is the need for more privacy. You will be co-living with other condo unit livers, so you must adjust your noise levels etc.
With these factors, consider considering whether condo living will suit you. If you can afford the fees, and want the lifestyle, go for it.
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.