Residential outlets that offer you ownership for the particular piece of real estate that you reside in along with individual access to common facilities in the area such as elevators, heating systems, parking slots, hallways et al are known as Condominium or Condo. What differentiates a condo and a house is the type of ownership.
In a house, the developer retains the ownership of the land even as he rents out to tenants in his building. In a condo, various units are sold to different owners who have sole ownership over the places they own, besides having access to common areas. Essentially, condos have a set of terms and conditions for the residents on how they are supposed to utilize and share their dwelling space.
In the recent times, an astonishing number of clientele prefer to own condos to live a life of style and luxury. And, there are ample reasons why condos beat the other contenders like independent houses, apartment et al. So, let’s find out the list of reasons for increasing popularity of living in condos.
Price has a role to play
It is always a much better feeling to pay to live in your own house rather than paying to live in some other’s. And, paying to own your own condo is an investment that is sure to reap you benefits in the long run.
Enjoy the amenities together
Condos have common amenities like a gymnasium, swimming pool, sports club, saunas etc. Some are even designed with beautiful lawns and sidewalks for joggers. Besides, one can avail these amenities without the need to individually engage in repair and outdoor works pertaining to maintenance.
Freedom to improvise the interior décor
The beauty of owning a condo is the freedom to improvise, renovate or modify the décor of the space you own. This is not possible if you are a tenant.
Living in prime locations is a blessing for job goers and children. In such cities, condos are spread across the metropolitan areas, both in the heart and the suburbs of the city. Considering that, the location of many condos have the availability of basic amenities in proximity and, are quite closer to major transport routes, these serve as the right place to choose for a home.
Nothing precedes security
Security is imperative whenever you own your place. Most of the condos have a locked front entrance with security codes, accessible to residents alone. Also, considering the presence of neighbors around, suspicious movements of unknown people into the territory cannot be inconspicuous.
Besides the above mentioned advantages, owning a condo ensures that you are likely to reap a profitable return on your money invested, should you sell it at a time, when the real estate values shoot up. Or, you may even buy another condo and rent it out, to add more figures to your income. And then, living in a condo also gains you a social circle, which is a necessity in a world that is heavily addicted to technology.