One of the main goals in life of a person is to finally have a place to call his own. Having your own home is a clear indication that you have already done a lot of things in your life and that you are stable enough to be considered as a homeowner. However, planning to purchase your own home is difficult since you need to consider whether you would like to have a traditional house and lot, or to have a condominium unit. While most people would normally choose a house and lot, there are a lot of benefits in choosing to invest in a condominium. Here are some of the perks of living in a condominium.
Ensured safety. A lot of people find condominiums more appealing than a house on a lot. This is because they are easier to maintain. Condominium units are also easier to protect and therefore the safety of your family members is assured when you live in one. Although you may choose not to have CCTV cameras inside your unit, the halls of each floor are equipped with several cameras so that the building’s security personnel can easily monitor the people who are entering and leaving the condominium building. Some of the more high-end buildings have top-notched security systems which will make even the most meticulous and paranoid unit owner at ease. You can even instruct the security personnel in your building to only allow a limited list of people who can enter and visit you.
More affordable. Since a condominium unit does not entail land ownership, purchasing one is relatively more affordable than owning a house on a lot. If your condominium is within the city, you can do away with having to own a vehicle since you can easily walk or take the bus or subway to and from your unit to your workplace.
High Resale Value. If your condominium is at a great location, you can be assured that it will get a high resale value in case you want to sell it in the future. You can also get a high mortgage value for your unit in case you will need to have a loan.
Communal benefits. Another perk of having a condominium is that the shared or combined ownership of the building will let owners have access to the existing facilities and amenities such as the gym and pool for free. However, you must also be aware when you live in a condominium; you will have to pay for HOA fees or Home Owners’ Association fees. The fees collected through HOA will be used for improving and upgrading the shared facilities and security of the building.
Location and accessibility. Owning a condominium unit within the city will give you an enviable location and easier access to your place of work and other business establishments without having to have a long commute. If your condominium unit is within the city, you will no longer need to wake up too early just to avoid the rush hour traffic. Also, if you are the person who enjoys the nightlife, having a condominium unit will allow you to have easier access to the hottest clubs and entertainment venues at night.