As first-time home buyers, looking for a condominium should be among their top considerations. Aside from newbie homeowners, these residential properties are best for those who want to downsize and free themselves from the stress of yard and exterior maintenance. But several myths about owning a condo can stand in your way from considering starting this modern lifestyle, mainly if you are working and residing in a city.
Why is condo living great for new families?
Spending quality time with your partner and newborns is crucial for new families. If you are working in prime business locations, you need a residence near your office where you can easily reach them without the long commutes. This benefit is just one of the many you can enjoy if you opt to reside in residential buildings such as condominiums.
Apart from their proximity to your workplace and reduced commuting time, condos also offer these benefits:
- Enjoy family time with the condo’s amenities: Your family can enjoy a variety of amenities in most condos. You can enjoy the convenience and joy of having pools, fitness centers, and playgrounds within the residential building.
- Have peace of mind: With security guards and equipment in place, you can ensure the safety and security of your family.
- Cost-efficient: Owning condos is more economical than single-family homes. Aside from fewer transportation and maintenance costs, units in these residential properties are more affordable.
- Less maintenance: In condominiums, the homeowner’s association takes care of common areas and exterior maintenance.
- Community: Living together in one building gives families residing in condos more opportunities to interact with neighbors and meet in shared spaces.
What are the condo home-buying myths that you should forget?
Here are some misconceptions many people have about condos:
Condos are small and cramped.
Truth: You can choose from various unit sizes, depending on the size of your family. For starting families, you can choose from studio or single-room units. You can scale up to multi-bedroom units once your family size and income grow.
They are not family-friendly.
Truth: Most condos offer community pools, playgrounds, ample green, open spaces, and other amenities to spend quality time with your family. In single-family houses, you need to travel to enjoy them.
Condo living does not give your family privacy.
Truth: While DMCI Homes condominiums have common areas, all units have private balconies, terraces, or yards that provide personal family space. Moreover, condominiums’ walls and ceilings are often better insulated to ensure better privacy than in single-family homes.
They are not a good investment.
Truth: Just like any other property, DMCI Homes condos can be a profitable investment if you know investment basics. The unit’s value depends on many factors, including location, market conditions, and maintenance fees. So, if you want to make your condo purchase an investment, you need to consider these factors before signing the deal.
Maintenance fees are a waste of money.
Truth: Condo fees often cover a list of services, including the maintenance of amenities, landscaping, building maintenance, security, and others. These services add value to your living experience.
Conclusion
Finding a home for your new family in an urban setting is challenging, especially if you have a limited budget. In your search for your ideal abode, make sure to include condos in your list of choices.
But like any property, condominiums have their set of real estate myths that many people believe. These beliefs not only limit your options but might also even prevent you from picking the right property for your new family.
The key to finding the best property is proper, open-minded research of various real estate assets, including condominiums. And if you want to invest in quality condos, contact DMCI Homes.
