Starting a family is as challenging as it is exciting. You will have to make life-changing decisions and will be bombarded with countless options. One of the major considerations you’d have to make is whether you ought to start your family in a condo or in a single-family house. Condo living offers several benefits that trump the merits of living in a house, from access to luxurious condo amenities to a price advantage. Learn more about the condo living benefits your family simply can’t miss.
You get easy access to first-rate amenities
A family-friendly condo will give you access to amenities that are normally unaffordable for individual property owners. Swimming pools, fitness facilities, play areas, basketball courts, and club houses become more affordable with several condo owners sharing the costs. Living in a condo means you get to jump into a pool when you feel like it, your kids can enjoy the outdoors even when you are in the middle of the urban jungle, and everyone gets to maintain an active lifestyle. It will be easier for you and your family to live life to the fullest. After all, you would only need to step out of your unit to spend some quality time together, all while having fun!
Gain social support from the condo community
Condo developments like the DMCI Homes provide a strong sense of community. Not only do they have common areas where residents can relax and meet their neighbors, they also hold social events that encourage people to mingle and bond. If you are new to a city, but would like to make friends and have social support, starting a family in a condo may be your best option. You will not feel alone if you live in a condo community. Your children will also find it easier to make friends. Adapting to your new home and neighborhood will be easy-peasy.
Live close to work
The more desirable the location, the more expensive it is. Such is the case with real estate. It is virtually impossible to afford a single-family house in the middle of a city, or a business district for that matter. Fortunately, condo developments increase the chances for a young family to secure a home at the heart of the city. Now you won’t have to put up with the long daily commute and the unbearable traffic. Living close to your workplace will allow you to save time and money. More importantly, more hours will be freed up in a day, allowing you to spend more quality time with your family.
Buy your own home
Are you trying to decide between purchasing a condo or renting a property? If your monthly rental is going to cost as much as your amortization, then you might as well choose to own your home. This is likely the case for condos, as they cost much less than single-family homes. Ownership offers financial advantages, including building equity and getting tax deductions for your property taxes and mortgage interest. If you are going to dish out a considerable amount of money for your home every month, might as well own the place, right?
Build your investment portfolio
Financial security becomes even more crucial once you’ve started your own family. Hence, throwing money away with monthly rentals may not be the best option for you, not when you can build your investment portfolio with a real estate property. As with most real estate assets, the value of condos tends to appreciate over time. Moreover, should you decide to move to a new location, you could still earn from your condo by running a leasing business. Now that you have a family to raise, every single thing you do should make financial sense. Investing in a condo may be one of the best things you’d do for your family.
Forego time-consuming maintenance work
Yet another big advantage of owning a condo is that you won’t have to do maintenance work on the common areas or grounds. This frees up your time, allowing you to pursue other more important things. You will appreciate this even more if you’ve lived in a home where your yard and the general upkeep of your house consumed too much time. Sure, you’ll have to pay association fees, but you’ll soon see it’s more than worth the savings you make in terms of time and money. Owning a single-family house is one of the costliest commitments anyone could make, and more people are foregoing the option.
Seize the price advantage
This may depend on the sector you’re in but, generally speaking, condos have a price advantage over single-family houses. Such houses are often larger and more expensive in key locations, making them unattainable. Condos, on the other hand, are smaller and more affordable. With condos, you get to have first-rate structure and amenities in a prime location for much less.
Another benefit of condos’ more competitive price is that turnover is much easier. Young families rarely get rooted in one place for too long. You should be able to keep your options open. If you decide to cash in on your property, you can simply put it on the market. You’ll be recouping your investment in no time.
Embrace the flexibility of condo living
Condo living offers a degree of flexibility that the whole family will appreciate. Key establishments like hospitals, shopping malls, and entertainment complexes will be accessible. You get to benefit from the condo property’s sophisticated security system, allowing you to worry less about the safety of your family. Your workplace and your children’s schools would be located nearby as well, cutting their travel time short. And should you decide to travel out of town or even out of the country, you could easily leave your home without worrying about break-ins. You can even sublet it for additional income. Condos are often flexible when it comes to putting your home up for rent while you are away. DMCI Homes even has an in-house leasing management to help you out.
Scout for the best DMCI condo to meet your needs and you’ll be enjoying these condo living benefits in no time.