The Good And Bad Of Buying A Condominium
Condominiums have become very popular in the Philippines today
, partly because of its affordability as well as with the luxury it gives to its residents. Many Filipinos have enjoyed living in a condominium rather than in other types of housing, particularly with the normal house. However, many condominium residents have also experienced several problems and drawbacks in living in a condominium unit. So what are the advantages and disadvantages of owning a condominium unit?The advantage
First is the advantage. Although it was only recently introduced in the market, condominiums quickly became popular across the Philippines, particularly in Metro Manila in which many towering condominiums are found in city, such as those in makati condo. The first advantage of owning a condominiuim is its affordability.
Condominiums in the past aren't known for its affordable cost. However, because of the steady increase of competition, many new condominiums have been erected across the city, such as those makati condo, as well as in several provinces to offer more choices for condominiums. This also led to the significant decrease of the cost of buying a condominium. Another advantage is its location.
Most condominiums today are those found inside or near major cities, such as those makati condo. The advantage of living in these kinds of condominiums is that residents could easily avoid rush hour when going to work. However, other than in these cities, many condominiums of today are also found in provincial areas, such as those in Tagaytay, or those in the outskirts.
The advantage of these locations is that it gives its residents a quiet and peaceful residence outside of the city. Although these types of condominiums places its residents outside the reach of major cities, these do provide some amenities that residents could enjoy such as swimming pools, gyms, and recreational parks.
The disadvantage
There are several disadvantages to owning a condominium. One disadvantage is the monthly fees. Other than the monthly bills such as electric bills, water bills, as well as mortgage taxes, condominiums are also known for their monthly fees which are mostly used for maintaining the whole compound or building. These fees are also used for the wages of maintenance personnel as well as the security.
Another disadvantage of condominiums compared to a typical house is that most of these condominiums are not as family oriented as many may think. This is because of the size of each unit. Although it could accommodate a family of 2 children, 3 or more is too much. Another is that some condominiums doesn't allow children in their units.
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by: Deirdre Gonzales