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Monday, August 15, 2011

House versus Condominium - Consideration in Investing

 By Evelyn L. Aguinaldo / Author / Investor / Cyber Real Estate Property Seller

The affordability of condominium units came in the wake of the most recent economic crisis, which is one of the reasons why many homeowners include this type of housing among their home-buying choices. 
 Even top-knots celebrities are opting condominium unit as their home nowadays. Kris Aquino’s, kris TV episode about her new condominium home is an eye opener in condo living for new generations of Filipino families. Though her condo unit is exceptionally big and employed top-notched interior decorators to reflex her new image, one can simulate the way she organized things in the most fashionable way. 

Most condo buildings are located in the heart of the city, the like of First Homes Makati, and are often in close proximity to office buildings and other establishments offering high-paying jobs. As city dwellers, less time and gas money is spent in going to work; if the use of a car is necessary, there are fewer repairs and maintenance expenses incurred. 

Condominium developments include classy facilities like state of the art fitness and gym centers, spas, beauty salons and barber shops, movie houses to some, fine dining or eat-in kitchens, and small boutique shops. The availability of these conveniences makes condominium living a comfortable option. 

Condo living dispenses with the hassles of looking for somebody to fix something in your house. All you need to do is inform the concierge or building manager who takes care of housekeeping or maintenance problems, and he’ll get in touch with the building’s own pool of handymen. 

Life in a condo is like somebody is always looking after your well being, by making sure you are satisfied with your living conditions. Of course, condo staff knows your money’s worth and make you feel like royalty. This alone suffices the monthly condominium association fees collected by the building administrator. 

“To keep this in perspective, one developer claimed that condo acquisition and rental is the latest trend among OFWs investors”, either as their home while vacationing in the Philippines or rent-it-out in order to have a source of passive income even while still working abroad. If you are new in this business venture, you have nothing to worry-about ‘coz most condo building has their own property management team to look-after your investments.

But before considering buying real property, it is recommended to weigh-in all the pros & cons yourself and to seek advice from a Real Estate Property consultant / unit owner on the target investment to help you in your decision making. 

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