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Condo Unit Or House & Lot?


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  • 3 weeks later...

Owning a condo unit is for those who can afford to shell out extra money. It would definitely be costly and impractical for those who don't have extra. But of course, having that extra and/or 'pretending' to be one has its perks:

 

Amenities

Condominium developments often provide access to certain desirable amenities that would not 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 beach front property, malls, schools, etc. can be much more affordable when shared by a group of owners, rather than by an individual property owner.

 

 

Investment

Some buyers will be interested in purchasing a condominium unit as a type of investment, either because they anticipate the price of the unit will appreciate considerably over time or because they wish to place the unit in a rental program. Since condominium units tend to appreciate more slowly than single-family homes, many people who are interested in the unit as an investment will choose to capitalize on its rental potential rather than wait for the unit to go up in value. Beachfront condominiums, for example, may fetch many thousands of dollars per week during the summer vacation months; likewise, condominiums conveniently located at schools can bring in similar rental fees during the school months. If a unit has previously been on the rental program, the seller should be able to provide details regarding its annual rental income.

 

Maintenance

One of the biggest perks of condominium ownership is that the individual owners are not directly responsible for performing maintenance on the building, common areas or grounds. For many people, this is desirable because it frees up time for other pursuits. For others, it is a well-earned break following many years of home maintenance. In general, the monthly condominium fees cover all expenses related to the repair and maintenance of central services, parts of the building aside from the individual units, grounds and community facilities.

 

But then again, ramdam mo lang ang mga perks na ito kung hindi apektado ang financial standing mo. Kaya yung nagpipilit magkaroon for status symbol or yabang, mahihirapang I-sustain and eventually fold up, and won't enjoy having one.

Edited by artedpro
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