Ann Gabriel | YoManila.com
I’ve been thinking. Just in case, I take the big leap of being on my own, with nothing else to think about but fend for myself, is condo living right for a Millennial like me?
Yes, I’ll be meeting all kinds of people at condominium open houses. There will be first time buyers checking out the model units, newly-weds, who wanted a nearby home, that is walking distance to both their offices, investors, looking out for possible rental income opportunities and, there will be somebody like me, who would be adventurous enough to buy a condominium unit of my own, and try independent life.
I can have a lot of choices, but for a single person like me, condominium units seem like the best choice, as I’ll only be needing a single room space. Condominium units can be low-rise buildings, townhouses, freestanding houses, duplexes, triplexes or “mixed use” buildings, such as condos above offices or store fronts. Condominium units are currently the best if not the only choice in city living.
Is condo living right for a millennial like me? Here are the benefits / restrictions of condo living:
1. You don’t do house maintenances or anything to preserve the look of the building. The maintenance comes out of the monthly condominium fees that you pay.
2. Shared repair costs. A reserve fund covers major repairs like windows and roof replacements without additional costs to owners. When the reserve fund runs out, costs will be shared equally among owners.
3. Lifestyle. There are common areas like pools and recreation rooms that offer opportunities to socialize with neighbors.
4. Amenities. Some condos have mini-theatres, gyms, swimming pools and party rooms, when you need them.
5. The ability to customize. You have full decision when you want to change the wall paint, putting up picture frames and when you want to renovate. Although, sometimes, these require association permits and a fee.
6. Price. There would be times that a condominium unit will be the most affordable choice.
7. Location. Aside from being a practical choice, condominium units might have easy access to work, dining, activities, public transportation and other amenities.
8. Security. Security personnel always come along with the condominium fees. Thus, you will feel more safe and secure when living in one.
9. For pet lovers, make sure that the condominium building doesn’t have strict restrictions to pets.
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