Condominiums, also popularly known as condos, usually consist of a large complex whose individual units are sold. However, the term condominium does not actually refer to the property but to the legal ownership arrangement. Anything can be turned into a condominium: buildings, townhouses, apartments, sometimes even commercial warehouses. In a condominium, each unit is individually owned. The owner of each individual unit technically owns everything from their walls inward. All of the individual unit owners share rights to the common areas like the elevators, hallways, pools, and other facilities.
An increasing number of people prefer to purchase condominium units rather than an individual house. Owning a condo in Philippines is a good choice for those who dont want to worry about repairs, maintenance, and other outside household chores. This trend is likewise causing an increase in the number of condo for sale Philippines. Below are some of the advantages in owning or purchasing a condo in Philippines.
* Price. A condominium unit will be significantly less expensive than a house with the same floor area. Although there are still luxury condos that are even more expensive than houses, many condo offers are becoming more and more affordable.
* Lifestyle. Choosing to live in a condo is choosing a certain lifestyle. If youre the type who dont like maintaining gardens, sweeping the yard, and cleaning the pool, then condo living is just right for you.
* Neighbors. Social interaction among condo unit owners has more potential than those living in houses. In a condominium, it is inevitable that you will run into your condo neighbors. Condo living provides better potential in terms of interacting with the neighbors and making friends.
* Amenities. Most condominium buildings come with a swimming pool, a gym, sauna, basketball court, or a tennis court. These amenities are common areas shared by all the residents of the condo. It can be pretty difficult to have the same amenities with a stand-alone house.
* Location. Most condos are located in or near business districts. This reduces the stress and expense of traveling far to get to your work. Living in a condo provides one proximity to your place of work.