Purchasing your first home? Choosing between a landed home and a condominium unit is likely the most important decision you need to make right now.
A landed property may not always be the best option, especially if this is your first property investment. While most of us dream of a large house with a spacious yard, possibly a great garden, and a pool to swim in, purchasing a landed property is not always the wisest choice.
The best options for first-time purchasers include Dunmen Road Condo for the reasons listed below:
Condominiums are more carefully positioned.
The location of condos is one of their main selling advantages. Both landed homes and condominiums are regarded as residential assets, but in highly commercial places like central business districts, large buildings like condominiums are more common because these areas desire to make the most of their available property. Condominiums enable you to live closer to workplaces, which can help you save a lot of time and money when traveling to work. You may probably find whatever you need within a few steps of condominiums and workplaces thanks to the abundance of commercial companies nearby, including supermarkets, banks, and even malls.
Along with offices, there are condos situated in popular tourist areas. Consider a few Cebu condos in the Philippines, particularly ones that are close to the beach. Compared to just developing houses and lots, these condos can enable more people to live in a resort-style community.
Condos have cool features.
Condominiums are noted for providing great features that would be difficult to achieve in a landed home without a lot of room and money. The majority of contemporary condos would have a garden, a lounge, and a gathering space. Some might even have a private gym and additional sporting amenities. All of these amenities are difficult to fit in a modest home, but you may find them in the majority of condominiums that are for rent.
These things would be out of reach for many younger purchasers when purchasing a single-family home. Empty nesters who don’t want to worry about maintenance may also be drawn to a pool that requires little upkeep.
Condos make excellent rental properties.
Condominiums are in high demand for rentals due to their advantageous location and the benefit of having facilities. Therefore, if you end up purchasing another home and want to keep your condo investment profitable without permanently giving it up, you might turn to rent it out. You have the option of renting it out as a standard lease or listing it on Airbnb or another comparable service, which gives you the chance to generate significant rental money.
Modifications
Condo ownership is fairly similar to apartment ownership, with the exception that owners are free to make as many customizations as they want as long as they adhere to the community’s set requirements. Contrary to renting, owners can grow equity through ownership. When the time comes to buy a larger home in the future, you will be able to benefit from this equity. Because of this, it’s the perfect short-term option for first-time homebuyers who are still getting used to the additional expenses and obligations of owning a single-family home.
These housing choices also offer long-term financial advantages. First-time homebuyers might save money by contrasting the cost of living in a single-family house with that of a condo or townhome.