Thinking of living in a condo? Look beyond the dolled-up model units and the affordable payment plans that your agent presents to you, and think about the deeper pros and cons.
Before you transition from living in a house to living in a condominium, look to the tips below to answer your most burning concerns when it comes to condo living.
How do I ensure my privacy when my neighbors live right next to me?
It’s the biggest adjustment you’ll have to make: knowing your neighbors live right on the other side of the wall.
It can get noisy, especially when you’re living next to a family with young children or directly below someone who blasts loud music. If your building is in front of a highway, you also have to get used to the noise of passing vehicles.
So before buying a unit, make sure that you know the noise level inside and around the building. This shouldn’t be a problem for developers with good track records and proven industry expertise since they use thicker and sturdier materials to construct the building and make sure that you won’t be bothered by outside noise.
How safe is condo living?
Security is one of the strongest selling points of condo living. Unlike houses, you have 24/7 security in condos—from well-trained security guards to CCTV cameras along the hallways.
But you also have to check out the extra safety measures that your developer installed. Do you have a smoke alarm in your unit? Are there fire exits? Are the locks and doorknobs working well?
Find a reputable condominium developer to make sure that your safety, security, and privacy will be prioritized.
What kind of amenities will I enjoy if I live in a condo?
There’s no specific set of amenities that each condo building follows. But the most common ones include swimming pools, open garden areas, gyms, and fitness centers. Some even have function halls and small playgrounds for children.
The monthly association fees that you pay go toward the upkeep of the common areas, as well as the maintenance of facilities. This also serves as your payment for the maintenance and security staff. As a rule of thumb, the larger your unit is, the higher your fees will be.
Before you buy any unit, check out the amenities first to make sure that you’re getting what you need. If you don’t think you need a gym in your building, then there are plenty of other condominiums that don’t offer it so that you can save money in the long run.
Will I lose my condo in 50 years?
One of the biggest misconceptions about condominiums is that they only have a 50-year lifespan. Many would-be buyers believe they’ll be left with nothing after 50 years.
The truth is, it depends on the condition of your building. These days, modern condos are being built using advanced technologies so that they’ll still be in top shape even after 50 years.
Plus, once you buy a unit, you become part of a condominium corporation that collectively owns the parcel of land where your property is standing. The corporation—which includes your vote—decides on the fate of the condo. It’s basically in your hands.
What safety measures do condos have for unforeseen calamities?
Some buyers think twice about purchasing high-rise condos because they think that these structures may not be able to withstand earthquakes. But there’s a law governing that.
The National Structural Code of the Philippines has a set of requirements for developers and construction companies that they should follow to keep buildings from sustaining huge structural damages.
And to further safeguard you, make sure that you look at the track record of your chosen developer and their expertise in the industry. With the Philippines located in the ring of fire, reputable developers design buildings with safety measures in place. Plus, building specifications are reviewed every few years.
Is there a workaround for all the rules and regulations imposed by the management?
Unfortunately, condo living means you must also live by the management’s rules.
You might not be able to install solar panels to save energy. There might be restrictions on pets. You might not even be allowed to renovate or modify the look of your unit.
But remember that these rules have been set in place to ensure the convenience of most unit owners. Before you buy a unit, ask about these rules and regulations so that you can evaluate if you can abide by them.
Will I be able to earn from my condo?
Investing in condominiums is one of the most common strategies employed by property investors.
As long as your building is located within a prime neighborhood close to work, school, transit, shopping, and entertainment areas, you have the potential to profit immensely from your condo unit.
As an Avida condo owner, you can go to Avida leasing services to help you find potential tenants. You can rent it out for short-term tenants who need a place to stay in for a month or two. You can also go for long-term tenants who need to be closer to their workplaces. You may even sell your unit after a few years to generate profits.
No one can deny how convenient condo living is. Units are more affordable than houses, plus their topnotch locations bring you closer to all the action in the metropolis.
If you’re ready to start looking for the condo that best suits you, check out our various options at avidaland.com and invest in your dream condo today.