Pros and Cons of Buying a Condo Unit in the Philippines 


Posted on Jun 6 2018 - 1:00am by Business Day TV

swimming pool among condo buildingsBefore buying a condo unit, it is always better to weigh your options. While this can be a practical way for some people, take some time to evaluate your options. To help you with your decision, Land Price List shares some of the pros and cons of living in a condominium:

Pros:

Security

One of the advantages of living in a condo unit is the security it offers. Most condominiums today are working with some of the best security agencies in the country. They have highly-trained officials and well-equipped with 24/7 security cameras.

Amenities

It’s so rare to see world-class condominiums without a pool or a fitness center. Read the latest reviews from current and previous tenants. For sure, they have something to say about the lifestyle amenities they offer.

Maintenance

You don’t need to worry about broken pipelines or leaking faucets in the kitchen or bathroom. They have a maintenance team to fix it for you. Just be sure to read their policies about utilities. In most cases, they won’t charge any fees unless they need replacements.

Affordability

Technically, a condo unit is more affordable than single-family homes. You can even get better deals on pre-selling promos. Just make sure you’re dealing with a reputable developer or contractor for better quality units.

Cons:

Homeowners Association Fees

When you buy a condo, you are required to pay the association fees. This should cover the costs of amenities, parking space, maintenance, and security system.

Lack of Privacy

Since the units are usually close to one another, you need to get used to seeing more people walking on the same floor.

READ  Niche Marketing is the Way to Go

Policy Compliance

Living in a condominium means adjusting to the management’s policies. You also need to get used to complying with their rules and regulations.

Renovation

It can be more challenging to make major renovations in a condo unit. This means you need to evaluate every area before making a purchase.

All in all, buying a condominium can be an ideal investment. Think about your lifestyle and daily activities. This will help you with your decision.