SAFETY & SECURITY
Security is becoming the No.1 reason for purchasing a condominium as most modern complexes are located in private, gated, and very secure developments. This is especially important to retirees and to single persons who live alone and want the added security to their lifestyle.
Condo communities’ main entrance is controlled by either a security guard in a gatehouse or by a concierge in the lobby: twenty-four hours a day, seven days a week. Security personnel does not only monitor who comes and goes, but they also oversee a network of CCTV cameras strategically positioned throughout your condo community.
Maintaining 24×7 dedicated security for single-detached homes is very costly. It’s more advantageous to stay in the condo because your security guard cost is already included in the monthly condo dues ( approximately P1,600 for 30 sq.m studio) compared to hiring security which will cost you at least P10,000 per month for the 8-10 hrs service).
Also, Condo Property Managers really consider incorporating many different fire-safety features into their communities. Condo buildings are designed to contain a fire should it happen, while automatic fire alarms are located throughout the building. All stairways and hallways can receive a separate supply of fresh air to provide a safe and smoke-free exit. The individual unit has a sprinkler system that will automatically activate should the need arise, thus will also contain the fire damage.
Common hallways have smoke-and-heat-sensors, a fire hose, and direct telephony to contact the nearest fire station.
RECREATION CENTER & MORE QUALITY TIME
As a condo owner, you will have complete access to all community recreational facilities. When looking for a condo, make sure you have a careful look at the Amenities Floor Plan to ensure that you are aware of all additional lifestyle features.
Condominiums have amenities that you could not otherwise afford, such as swimming pools or multi-purpose sports courts, their own clubhouse with fitness gym, and much more. These amenities could be made exclusive to homeowners & their guests only.
Condominiums are ideal homes for people without children or some with a big family. Usually, some subdivision owners have to spend for membership of a sports club and need to transport from their home to the clubhouse for the recreation of their family. Quality Time savings can be best spent around the condo communities.
ENTERTAINMENT & ENTERTAINING
Most Condominiums include a clubhouse with recreation and entertainment facilities available, so whether you’re hosting a dinner for eight, a movie night for 10, or a poolside party for 150, there’s a room for you.
Even if you are only a studio unit owner, you will still have an equal opportunity to host a big party. Unlike in a single detach home wherein you need to have a big ballroom/living room to host one.
Condominiums lobbies are meticulously designed & decorated by top-notch architectural designers and welcome you with elegance and sophistication. Condominiums’ professional landscapers create a manicured garden and lush outdoor environment.
With the condo grand lobby & reception area, your guests & visitor can be entertained and attended. A business meeting can even be done in the lobby, function rooms, or in the clubhouse.
MINIMAL HOUSEKEEPING & MAINTENANCE EFFORT
For those who travel a lot and who most of the time are out-of-town, condominiums can be an excellent option. If you have to travel for work, you know the problems that can arise from having a home sitting empty for weeks or months. Burglaries, graffiti, and so on are natural results of leaving a home empty. With condominiums, it is much harder for someone to detect if a person is at home or not. This makes condominiums very popular with balikbayans and certain inter-island business people.
Condo homeowners association empowers Condominium Property Managers to see to it that the building and units are properly maintained and well kept. While a detached home requires a lot of maintenance to keep it in good shape. Condominiums usually cost less to maintain than detached homes. The replacement cost of the high rise’s roof may be more in absolute terms than replacing the roof of a detached single-family home, but the cost per owner should be less
You need an inspection completed before buying a condominium. Do not forget that when you buy a condo, you are also buying into the entire building in which your condo is located. As a co-owner of the building, you will be assessed of your proportional share of the cost for corrective work required in common areas, such as the hallways, roofs, plumbing & drainage system, or the foundation – which will be collected thru the monthly condo dues.
With the current power problem we have in the Philippines, it is important that you should check if the building has a reliable standby generation system that can provide back-up power in case of brown-out.
You have less maintenance responsibility. Exterior maintenance and repairs are typically the responsibility of all of the unit owners and are frequently handled by a professional property management company.
STRATEGIC & PRIME LOCATION
Condos are usually located in well established, proven neighborhoods, (near beach resorts). Giving you the opportunity to see where everything is before you decide to buy. Some condos units are relatively smaller in size as compared to houses but as far as an effective square meter is concerned, you can have accessibility to other functional amenities like; the lobby, where you can receive your visitors; service rooms where you can do some fitness exercises, laundry, etc.
Condominiums are often found in prime locations where land ownership would not be economically feasible due to its high cost, and condominium project would be the only viable option for development. Some examples might include prime commercial-business district locations, near beachfront locations, and other locations in very close proximity to leisure amenities (shopping & entertainment malls, golf courses, white sand beaches, mountain trails, etc.).
VALUE FOR MONEY LIFESTYLE ALTERNATIVES
For those new starting couples, affordability may or may not be an issue. But for the empty nester who used to live in big subdivision houses, trimming down of excess expenses and not having to cope up with rising expenses, such as lawn & garden maintenance, security guard, etc., may be the key issue. Or, maybe if both spouses work, a traditional single-family home may be just too much work and not fit your lifestyle. In short, single-detached houses are not only costly to maintain but also needs more time to maintain. Today, time is a luxury that we don’t have.
Here in the Philippines, despite Condo Unit’s relatively high acquisition cost compared to detached houses, still, Condo Living is attractive to many buyers because they offer them a chance to own their residence that fits their quality lifestyle at an effective cost than a single detached family home.
IDEAL INVESTMENT (RESORT CONDOMINIUMS)
Capital Gains for a well managed Condominium Project is relatively HIGH ( 5% to 8% per annum). Being in a strategic location, Resort Condo Units can even derive higher Rental yield ( from 10%-15%). The condominium is EASIER to manage & has LESS maintenance cost This means lesser Operational Expense for the Rental Business or Short Staycation.
With the advent of Rental Apps like AirBnB, etc – marketing your Condo Units became easier & more profitable.