A condo can be a smart choice when thinking about buying a new home – and for a lot of reasons as financial expert, Jean Folger, said.
“Often, they are cheaper than single-family homes, and they may offer conveniences – such as swimming pools and fitness centers – that you couldn’t otherwise afford,” she said, offering this rundown on some of the top reasons to buy a condo.
1) Amenities
Condominium developments often provide access to certain amenities that wouldn’t be practical or affordable for an individual house owner. Clubhouses, golf courses, swimming pools, tennis courts, fitness facilities and even the actual location – such as a beachfront property – can be much more affordable when shared by a group of owners, rather than by an individual property owner.
2) Community
Many developments offer a strong sense of community, especially those that provide a variety of planned social events.
3) Desirable Location
A condo can be a viable alternative that provides you with the lifestyle you enjoy at a fraction of the cost.
4) Investment
Some buyers will be interested in purchasing a condo as an investment in hope that the price of the unit will appreciate over time and/or to use the home as a source of rental income.
5) Maintenance
One of the biggest perks of owning a condo is that the individual owners are not directly responsible for maintenance on the building, common areas or grounds. For many people, this is desirable because it frees up time for other pursuits.
6) Price
Depending on your market, price may be a deciding factor in choosing a condo over other types of real estate, such as a single-family home.
7) Flexibility
A condo offers a great deal of flexibility – it requires less maintenance than other types of homes and it’s easier to leave vacant while you travel. Condos can also provide more flexibility in terms of finding renters while you’re away.
It’s back! The longest-running, most trusted and biggest Philippine investment event in the Middle East region, Philippine Property and Investment Exhibition (PPIE), is back. It has helped thousands of OFWs own their very own home. Be part of PPIE 2019 on April 26-27 at the JW Marriott, Deira, Dubai to reach your aspired home. Like @ppieuae on facebook to get tips and alerts on unbeatable deals.
