Advantages of buying a Condominium in the Philippines

By: grem1


As an end-user buyer, buying a condominium is a great way to buy a place in a very urbanized area. There are many advantages in buying and living in a condominium compared to buying a house and lot.
The following advantages are:
Location
Many condominium unit are built in an area that is convenient, and practical. Many projects are accessible to public or mass transportation, near commercial areas, schools and offices.
Travel time is minimized and the buyers will have more time to do other things.
At other times, the location enables the buyer to have a breathtaking view of the sea, golf course, the city or mountains from afar.
Unlike living in a house and lot subdivision, the view is many times limited, unless it is a secondary or vacation house with good view of the sea or mountains, although there are exceptions.
Amenities
The many amenities in many mid range residential condo projects is almost complete that the buyers don't have to go to other places to swim, work out, relax and entertain their guests.
The people maintaining the building also will handle the maintenance of the gardens, cleaning of the common areas and parking lots, removal of trash, 24-hour reception and security, and screening of people wishing to visit the occupant.
Many condo units when finished are ready to live in, with a few minor touches to do.
A building administrator for a mid cost condominium related that there are buyers who have their own houses and apartment units, but they prefer to live in their mid cost condo units, because of the conveniences and security for the area.
One occupant related that he could just instruct the guard to call the taxi for him anytime of the day or night.
And the maintenance is much cheaper than maintaining a house. Unlike living in a house, one does not have to bother opening and closing the front gate for the arrival or departure of the car, either by oneself of the household help.

Price
The price of condos is debatable.
Usually it is very high for most people.
Even for the ordinary OFWs, the condominium projects need to be accredited by the PAG-IBIG for them to be interested in the units.
The OFWs need to avail themselves of a bigger loan with longer payment terms and lower interest from the government. But given the convenience of the location and the amenities, the price is generally justifiable.

Cost of Maintenance
The monthly association dues although high in some, condo units, are still generally less than maintaining a house and lot.
There is no need to shoulder the cost of building and maintaining a gate and a perimeter wall on one's own.
When the condo unit occupant wants to have some repairs and maintenance of his unit, he does not have to look for a repairman.
All he has to do is call the in charge of the maintenance and the repairman will be there in a few minutes.
Imagine the cost of renovating the whole house after 5 years to compare it with renovation of only the interior of a condo unit as the exterior is already covered with the monthly association dues.

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As an end-user buyer, buying a condominium is a great way to buy a place in a very urbanized area. There are many advantages in buying and living in a condominium compared to buying a house and lot.

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