Condo Living: The High Life Is Not As Costly As You Think

Cypress Towers Magnolia Place Quezon City Taguig City Viera Residences.

Condominiums are changing the way we live.  Or at least, they change the way we want to live. Do we not work hard enough to dream of a much nicer place we can come home to? Bottomline is we deserve to live better.

Most condo unit owners live by the conviction that we deserve the best.  Last year alone, a record 51,000 new high-rise units were made available by property developers.  This year, a conservative estimate of 45,000 units will be unveiled.  According to property consultancy firm Colliers International Philippines, more than 2,370 high rise residential condominiums were completed in Metro Manila by the end of the third quarter of 2013.  Those are staggering numbers.  This shows that more and more Filipinos are embracing condo living.

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Image via DMCI Homes – Veira Residence

This is the new wave of the century.  What subdivisions and villages are to the 20th century, condo living is to the 21st.  You may ask, what is a condo anyway, a box?  Are you trying to kill yourself of claustrophobia? But how else can you explain the overwhelming statistics?  They just don’t add up, do they? Because the truth is, the comforts and benefits of condo living are simply irresistible.

Does It  Fit Your Budget?

Image via 401(K) 2013 at Flickr

Image via 401(K) 2013 at Flickr

To own a condo unit in the Philippines especially in a prime location in Metro Manila will cost around 2 million.  If you intend to rent out the space, an average condo will cost you around 15,000 a month.  Vertical living, as they call it, can be relatively cheaper.  When you buy the place, you’re guaranteed a package — and a pretty good one at that.

In horizontal living, you need to build a house and buy a lot.  You will need architects, all sorts of engineers, contractors, carpenters, and interior designers.  With condominiums, the property developer takes care of all that.  And if that’s not enough, they also help you apply and get approved on bank financing and home loans along with all the work that goes with documents, papers and follow ups to government offices.

If you are a newly-married couple trying to start a family, or a young professional, living in a condominium will save you money spent on visiting parks, resorts, gym and recreation areas, sometimes even wi-fi or internet connection. Of course, to enjoy these condo privileges, you have to pay what they call association or homeowner’s dues.  But then you won’t ever have to worry about security, amenities that do not work, and even garbage collection.

Location is a prime consideration and condominiums are usually at the best ones, usually in the middle of busy business districts, so you can save gas and transportation expenses.  And because you have limited space, you are inclined to also limit your furniture and keep your mess at a minimum.

Property developers peg the resale value of condominiums at double the price in six years.  For example, a 2 million condo unit now can be appreciated to 4 million in six years.  That is not a bad deal at all.

Welcome To The Good Life

Nothing beats condo living in terms of convenience.  You don’t have to worry about your car parked along the street (or even in your garage) because there is a 24-hour security.  CCTV cameras are installed almost everywhere. And not because you live in a small place does not mean you have to compromise your lifestyle.  In fact, you can take it a few notches higher.

Image via DMCI Homes - Cypress Towers

Image via DMCI Homes – Cypress Towers

You can invite friends anytime for a pool party or hold meetings at the condo’s conference rooms.  You can take your kids to the playground or walk your dog to the park. You don’t have to pay monthly dues to get fit because condominiums usually have their gym facilities.  And while you are at the heart of living in a city, you don’t have to feel all tired and wasted because there are plenty of leisure activities available. Do you drag yourself to work because of horrible metro traffic?  A good condo in a good location is the answer to that.

Definitely, one of the best things about living in a condominium is being part of a community.  You don’t need to worry about neighbors who don’t respect your space or are too loud because there are house rules.  This is one of the few instances where rules actually work for everyone.  In the condominium’s common areas, you can have more people interaction and you may even start valuable friendships.

Transform Your Condo Into A Home

Just because the place is small does not mean the possibilities are small too.  With the right home designing and space-saving tricks, you can hold a house party at your humble place.  For example, a 25 square meter unit can look like 15 square meters bigger when you build a loft or a mezzanine.

Use fewer but larger and dual-purpose pieces of furniture to turn your place into a visual delight.  Adding mirrors also give the impression that your place is bigger than it really is. Go for perfect lighting and get rid of all those room-darkening shadows to achieve a cozy, at-home feel.  Go monochromatic for the theme or color as it makes your place look less cluttered and more alive.

Image via DMCI Homes - Magnolia Place

Image via DMCI Homes – Magnolia Place

And of course, cleaning up the clutter maximizes space.  Avoid view obstructions because a place always looks bigger when you can see through every space.  Don’t block windows with cabinets, the television set, or even the refrigerator.

Choose your furniture wisely.  There are sofas that turn into beds at night, tables with drawers beneath them, cabinets with all those small surprises.  You may try installing shelves above doorways and a bookcase underneath windows.  Use an ottoman and a wicker hamper as both seat or table and additional storage.

Always decorate in style and keep in mind that space should never be a problem. The space may be small but the possibilities are endless.

 

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