Why Owning a Condo is Worth Every of Your Penny
What Is a Condo?
A condo, which is short for “condominium”, is a property in a building with other units. A condo is adjoining to others, so people living in a condo share a wall. On a side note, your unit may be located above or below someone else’s home. What most condos have in common is that they have shared areas like car parks, swimming pools, gyms, prayer rooms, daycares and some even tennis courts.
Now let’s talk about why you should own a condo.
One of the many reasons you will discover when you purchase a condo is that you will have tip top security. Unless you are filthy rich living in a landed property with your personal security guard guarding your house 24/7, there is no safer place than living in a condo. Having extra security is the best way to ensure you have peace of mind especially when you are away from home for a period of time. Plus, even if you live alone, living in a condo reduces the chance of break-ins. Besides, you live in close distance to other tenants and during an emergency, you will have a lot of people to turn to for help in a short period of time.
Amenities & Facilities
As mentioned earlier, condos usually have common areas like swimming pools, gyms, prayer rooms, daycares, libraries and some even tennis courts. They offer residents amenities that average homeowners have to go to the extent to join a club to enjoy what they provide and include when they live in a condo.
These amenities also bring people closer together and it is a great way to get to know your neighbours. Some condos also have laundry services too!
Let’s be honest. Living in a landed property requires more maintenance fees to keep your house in place.
For instance, unexpected external repairings like a damaged roof, cracks in the walls, or even exterior walls being damaged and needing a repaint requires an amount of money to cover. When you live in a condo, the management is responsible for handling all external repairs, all you have to do is just pay an affordable amount of maintenance fee monthly to the management. Besides, outside spaces will be cleaned and you do not have to mow your lawn or yard. Elevators will be serviced regularly too!
In most cases, the price of a landed property is higher than condos. If you put a landed property and a condo in the same neighborhood, with the same access to restaurants, convenient stores and public transportations, you will find that condos are cheaper than landed homes in that area because of the small square feet. However if you are comparing luxury condos with landed properties, the pricing will be about the same, depending on the location, size, etc. But if you are looking for a basic condo, the price is typically lower than landed homes. So if you are on a tighter budget and you want to own a house, a condo can be a great stepping stone in your house purchasing journey.
As mentioned earlier, living in a condo means living in a close proximity with other tenants. For people who live in landed houses, once they park in their house, they might not leave the house until the next day. Whereas living in a condo you might see your neighbors at the swimming pool, at the gym or even in the elevator. There is also a high chance that you will go back out because condos are usually surrounded by happening areas with restaurants, shopping malls, bars and parks with high accessibility.
Speaking of high accessibility, many condos are located in strategic areas like in the heart of Kuala Lumpur for example. Not everyone wants to spend most of their time stuck in traffic during rush hours. So if you are living in a condo with walking distance to a public transportation stop, and you would love to skip the buzzling traffic daily to work, you are in luck. Plus if you walk or take public transportation to your destination, you will get to exercise regularly too because it is easier to go out and about.
There you have it, the many reasons why owning a condo is worth every of your penny. If you are looking for a condo to call home, contact us today!