Apr 06, 20By Sam Morales

Buying a condominium unit is not the same as buying a single-family home. There are a few considerations that need to be taken into account in terms of investing one. In many real estate markets, buying a condo nowadays can come at a much lower price than purchasing a single-family residence.


A condominium is a typical shared piece of property with individual owners of each “unit” or commonly termed as “condo”. When buying a condo, it’s important you know that every condominium community is different - and there are a lot of reasons to be considered in buying a unit.



Location


One of the biggest factors of a condo is its location. There are a lot of people who prefer to live near their workplace or school. The reasons lie not only because of the proximity of the condo to their work or school but also the establishments that are surrounding the condo. This makes all necessities accessible to the residents. 


The location of the condo also makes it an ideal space to buy to avoid the congested traffic the Philippines is known for. Not only does this reduce the time being stuck in traffic but also stress. Not to mention how commuting into the late-night can be difficult with less transportation available and also can be quite dangerous. 



Amenities 


Condo’s have various facilities available that range from a pool, playground, fitness gym, and sometimes basketball or tennis courts. The amenities usually come with your purchase of a unit in the condominium. Having these kinds of facilities ready and available within proximity makes it convenient for its residents to turn to when they want to do something like getting fit. This also creates an opportunity for them to build connections like meeting their neighbors or others who live in the same condominium. 



Security


Another factor is the security that condo’s provide. Condo’s commonly have gates with guardhouses at the entrances, locks, security personnel roaming around the premises, and sometimes, are even followed by trained canines. There are condominiums that even provide 24hour surveillance as well as on-call maintenance. 



Affordable 


If you're talking about affordability, compared to house and lots that are located in central business districts or widely populated areas, a condo is definitely more affordable especially if you are a young professional or a starting family. 



Form of Investment 


A condo is more practical than a house and lot since you can easily rent or re-sell it. All that is mentioned above, such as the location and amenities specifically, help increase the chances of selling or renting out the condo. Not to mention the demand for the condominiums increases as the economy expands, selling your condo would be easy. 



With these reasons, are you ready to start searching for your home near your workplace or school? Search now on www.signetpropeties.ph and find your dream home. 


Or maybe you have any units you want to sell or rent out? Upload your listings now on www.signetproperties.ph for free!