Are you planning of buying a home of your own? You can choose a house and lot in a subdivision or a DMCI Homes condo in a resort-style community. But which truly suits a millennial who aspires for a work-life balance in the city? Know the difference between house ownership and condo living.
Condo living in the Philippines is addressing a lot of issues urbanites face. It offers relief from the toxic congestion and the nuances city living brings, such as traffic and flooding. A condo community that features lifestyle amenities provide leisure and relaxation from the fast-paced life in the city.
Here are some points to consider when going home-hunting.
A cost-efficient home
On face value, a house and lot seem to be more affordable than a condo space. There are real estate properties that are up for sale in public auctions available for a fraction of the market value. However, these cheap homes don’t provide the same comfort as condo homes.
A condo space is in a gated community with 24-hour security, well-maintained facilities and lifestyle amenities unit owners are free to use. These features may be available in luxurious subdivisions, but living there is beyond most Filipinos’ income.
Be a member of a condo corporation
Owning a condo entitles you an ownership interest in a condominium corporation. Under the Condominium Act (Republic Act 4726), unit owners are “holders of separate interest” in the land and common areas. As a member of the corporation, you also have right to participate and vote in meetings as well as acts that require member approval. Your obligations include payment of association dues and your share in the insurance and real property tax on the land. You’re also obliged to comply with the rules and regulations in maintaining the common areas.
Live in flood-free areas
The super typhoons that wrecked the country in recent years made house-hunting a little more difficult. You have seen the enormous damage of natural disasters to properties and lives. People are now more cautious about choosing a residential area that might be prone to destructive flooding. A condo community is a solution to this problem. These premier residential areas are built in flood-free locations. Your home and belongings are safe from loss and destruction. You can also buy a secure parking space. No need to worry about losing your precious car to an unforgiving typhoon.
Do more with your time
Millennials are always on-the-go. They juggle career, social life, and personal growth endeavors. But these can be tough to manage if you’re living towns away from the main highway. Condo communities are strategically situated near main roads and public transport systems. Some communities are located in close proximity to business districts that unit owners can walk to their workplaces. This means that living in a condominium makes it easier to achieve work-life balance. No more frustratingly long hours getting stuck in traffic.
Condo homeowners association
Private subdivisions are likely to have a homeowner’s association that oversees the implementation of rules and regulations for a harmonious community living. The same goes with a condo community. There’s an association that handles homeowner’s concerns, enforcement of fees for the maintenance of common areas, and even social and leisure programs. The association may organize sports fests, Christmas parties, and other activities that promote healthy relations in the community.
Access to fitness amenities
Millennials are health-conscious. They opt for organic produce, prefer fitness activities over drinking out, and are more eco-sensitive. An important difference between owning a home and a DMCI condo is the availability of facilities and amenities for your fitness program. You don’t need to spend on gym fees anymore. There’s a well-equipped indoor gym, swimming pools, basketball court, jogging path, and open spaces for meditative exercises. You can hit the treadmill before prepping for work or do invigorating lapses in the pool after a long day in the office. On weekends, invite your neighbors to a basketball game.
An environment conducive for productive tasks
Staycation is a growing trend. Not only is it a more practical, it allows you to do productive activities during your downtime. Many millennials are engaged in freelance work such as writing and research jobs, programming, and social media management. Instead of going home to the province during long vacations, millennials stay at home and work on their freelance jobs and maybe binge on Netflix after.
A condo home gives you the right atmosphere for productive tasks. You can either write articles in the comfort of your bedroom or by the poolside. With the resort-like ambiance around you, your mind can relax and perform better.
Social areas and pet-friendly amenities
A condo community has amenities that are not available in your ordinary private subdivision. As a unit owner, you can use the clubhouse or function hall for your social events. You can have a coffee meeting in the roof deck bar or a fun Saturday night in the entertainment room.
Condo communities feature pet-friendly amenities perfect for your furry pals. Your dog and cat are safe inside the gated community which feature 24-hour security and surveillance cameras. There are open spaces for your dog to run around, even an elevator dedicated to pets.
Condo living allows you to live in a resort-style residential area at the heart of a bustling city. You save time, energy, and money by cutting down your travel time to work or school. By choosing a condo home, you can do more things without sacrificing the quality of your life. Explore the amazing benefits of condo living and how it will accommodate your on-the-go lifestyle as a driven millennial. Call a property specialist today.