Condo living is fast becoming the choice of home living for many millennials. The proximity of these residential communities to business districts and commercial establishments make them a more practical option than renting an apartment in a nearby city. There are other considerations such as security, both against crimes and natural disasters, and the availability of lifestyle amenities that persuade people to opt for a condo life.
Before calling up a real estate agent for a quote, know what to expect when you live in a condo. Here are 13 essential things you should know.
You’re free from maintenance work outside your unit.
The Philippines battles at least 20 typhoons every year, about a quarter of which are categorized as super typhoons. A three-hour downpour in Metro Manila usually leaves most of major roads flooded, sometimes overflowing into residential areas. Although no one is safe from the wrath of nature (and the hassles that go with it), condo owners are exempted from the maintenance work needed during and after calamities. Repairs on outside structures are covered by the condo maintenance services.
You can easily dial up home repair assistance
Getting the sink or the toilet clogged is inevitable. If the DIY remedies are not helping, condo owners may ask for assistance from the maintenance office. You may skip the yellow pages and get help within the condo community.
You don’t have to worry about security within the community
A recent report by the Philippine Statistics Authority warned that the number of reported crimes has been rising over the past couple of years. Most of the incidents involved property crimes. One of the things to expect in condo living is the 24-hour security. Part of the dues condo owners pay for go to the security and maintenance of common areas. You don’t need to spend on security systems outside your home as there are surveillance cameras, fire alarms and automatic sprinklers, and roaming guards within the community.
You will share maintenance costs with other condo owners
The community pitches in for the utility bills, costs of security and other housekeeping expenses for the maintenance of common areas. A condo project that uses green technologies such as energy-consuming LEDs helps in cutting down maintenance expenses, and consequently the condo owners’ association dues.
You will need to deal with small spaces
Limited space is one drawback of condo living. Artists may opt for a large apartment where they can set up an art studio and mini gallery. A huge family may also consider a house to accommodate everyone including their pack of guard dogs. Condo owners are encouraged to explore small condo design concepts to maximize every square footage in their home. Some ingenious ideas include the use of collapsible furniture and wall-mounted cabinets.
You may need to skip those big house parties
A smaller home means it’ll be impossible to hold your annual family reunions in your house. Your condo living room cannot accommodate all your cousins at the same time. However, this doesn’t mean that you can’t host gatherings within your condo community. One of the many perks of choosing condo lifestyle is access to facilities such as a function hall, clubhouse, lounge and open lawns. Book a venue inside your community and impress your guests.
You have limited control outside your condo space
Condo owners, like any other property owner, have absolute right over their units. They’re free to alienate, mortgage or lease it out. However, there is one thing that they’re restricted from doing—redesigning the exterior of their condo units. The shade of paint on your door and outside walls is within the prerogative of the condo administration. You may also need to ask permission if you can hang plants and other ornaments by your front door and windows. Save your condo design ideas for inside your home.
You can save money on gym membership
According to the American Heart Association, an adult should be logging 150 minutes per week of moderate exercise or 75 minutes of vigorous exercise per week for better cardiovascular health. It’s not only the lack of time that discourages many urban dwellers from getting into physical activities. Cost is also a factor as gym membership is not in everybody’s budget. Condo living means you’d have access to a well-equipped fitness center, a lap pool and outdoor sports facilities. No need for monthly gym fees or rushing for your zumba class after work. You can do your fitness routine within the comforts of your condo community.
You’re expected to abide by rules and regulations
Laws are created to ensure peaceful living within a society. If subdivision owners are bound to follow a set of guidelines, so are condo owners. The set-up in a condo community where homes are merely divided by walls may mean stricter policies. For an instance, you may need to keep your noise down in consideration of your neighbors. Most projects also restrict the use of liquefied petroleum gas in all condo units as a safety precaution.
You can expect neighbors to regulate their noise, so do the same
If you’re considering living in a condo, you may need to buy high-quality headphones. The proximity of one condo unit from another obliges residents to be mindful of the noise inside their homes. So if you love listening to Pantera while having your morning coffee, you may need to incorporate sound proofing into your condo design plans. Otherwise, a pair of noise-cancelling earphones will do.
You can build a network inside your community
One of the best condo experiences you’d ever have is building lasting friendships within the community. Get to know your neighbors. Share stories over afternoon tea. You may even organize small parties by the swimming pool or in the function area.
You can lease your unit with the help of leasing professionals
Andy Manalac, chairman of the National Real Estate Association, says that the market for condo units are no longer limited to expats, as condo living is becoming a preferred leasing option for business process outsourcing workers. If you want to capitalize on the booming rental market, you can seek assistance from your condo’s leasing department. They’ll do all the work including putting your unit in the market, drafting the leasing contract and maintaining your unit. All you need to do is wait for your check.
You don’t need to go out of town for your vacation
Filipinos celebrate at least 20 holidays every year. During long weekends, many families flock to nearby beaches or head to their provinces to visit relatives. You don’t always need to leave your home when office or school is out. With condo living, staycation will be your favorite alibi to avoid out-of-town trips. Condo owners are free to enjoy resort-type amenities such as swimming pools, sky lounges, entertainment rooms and fitness areas.
Living in a condo has its own ups and downs. There’s limited space and guidelines that others may find too restrictive. In exchange for these drawbacks, condo owners are offered access to top-notch amenities and facilities. The peace of mind that goes with 24-hour security is also a huge advantage. Whether condo living is for you or not, buying a unit is still a good investment as more people are opting for this modern living.