OFFICE OF THE PRESIDENT • REPUBLIC OF THE PHILIPPINES
QUICKNEWS

The Pros and Cons of Living in a Condo

 

Home Guaranty Corporation

Condominiums are on the rise in the metro and other urbanized part of the country. They are in demand whether as a place to live in or as an investment. Many developers are happy with their sales rate as more and more Filipinos are choosing high-rise living. But before deciding to live in a condo unit—whether you are buying or renting one—you must weigh the pros and cons first. Here are the first five on our list:


The Pros:

  1. Affordability
    A condominium unit is more affordable than a house and lot. With a little over a million pesos, you can already own a property in a prime location. Condo-living, however, due to unit’s limited space, is more suitable for single individuals and start-up or small families.
  2. Location
    Condos are conveniently located near office buildings, entertainment centers and in major transportation routes. A buyer usually chooses a condo that is near his workplace. This saves him money and time in commuting to and from his work.
  3. Amenities
    Swimming pool, fitness facilities, study room with wifi and playground for kids are some of the basic amenities in a condominium. Restaurants, computer shops, spas, salons and convenience stores can also be found at the ground floor of a condominium. Most of the time, a resident need not go far to satisfy his needs.
  4. Security
    Condos have 24/7 security service. Guards rove around floors many times a day for inspection. If any untoward incident occurs, residents may call security who will respond immediately. CCTVs are also installed in strategic places of the building.
  5. Maintenance
    Residents pay for association dues that cover the maintenance of the common areas of their building. The management takes care of the actual repair and maintenance of these areas. When residents encounter problems inside their units such as leaking faucets, clogged sink, etc., maintenance personnel can be called in to do the repair.

 

The Cons:

  1. Size
    Condo units typically have small floor areas. Residents have to consider this when buying furniture and other fixtures in the house. This also limits the number of guests or friends that you can invite into your unit. Some residents entertain their guests at the lobby, at the swimming pool area when only few people are around, or at the nearby restaurant.
  2. Noise
    Due to shared walls with poor soundproofing, noise is one of the major problems for condo-dwellers. Management reminds the residents to manage their noise levels but it is inevitable that you would still hear your neighbors’ noise from time to time. Residents can always report to security when the noise becomes excessive and bothersome.
  3. Privacy
    Residents lose some privacy due to close living proximity. You use your condo’s amenities like swimming pool, gym, study area, etc. with other residents and their visitors, too.
  4. Restrictions
    Condo managements impose some restrictions. Like in some condos, pets are not allowed inside. Others prohibit the construction of extensions to the units.
  5. Parking
    Parking space is rented or bought separately. The rental fees for parking in condos are usually expensive.

Are you planning to live in a condo anytime soon? You can check the developers section to look for a condominium that matches your preferences, in cost, location and other features.

 
 

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