House vs Condo: Considerations for the Better Investment

[realtorvietnam]

Deciding between a house vs. condo unit, actually depends on the person or persons who plan to live in the new home. If considerations for better investment are the issues, establishing future plans and weighing the pros and cons could help a buyer arrive at the best decision.

Home Buying Decision: A House or a Condo?


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. However, there are those who oppose the idea that buying a condo is a good purchase despite its current low amortization payments. This created impressions that life in a high-rise building is not as pleasant as others might think. Questions have been raised like: is a house a better investment than a condo, or if considerations for better investment are the main focus, what makes condo buying a less likely choice?

Typical, in any buying options, a traditional single detached-house or a condominium unit possesses certain qualities that can be advantageous or disadvantageous. Which of the pros and cons can be weighed as more favorable depends on the purpose and lifestyle of the user or dweller. Following this line of thought, it would be best to find out what type of residents favor living in these high-rise residential units and why?
What Types of Dwellers Find it Advantageous to Live in Condos?

It is said condominium living is not for everyone; so what types of dwellers find them advantageous as an abode?

Single People

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* These may be career-oriented young executives, or up and coming artists, models, pilots, flight attendants, or well-paid athletes, just to name a few. They often find themselves attending to the demands of their work, with very little time to tend to the demands of a traditional home. They simply pick up their bags anytime and leave their residences, without having to worry about the security and maintenance. Condo units as we all know it, are located in well-guarded high-rise buildings. Residents earn more than enough to pay for the building’s maintenance and security by way of monthly maintenance fees, in addition to the monthly amortizations that they pay.

* They may also be retirees, divorced individuals, bachelors and bachelorettes where settling down is not in their plans. These people chose to live on their own, but prefer not to be saddled with the complexities of a traditional home’s upkeep. Plumbing leaks, electrical problems, heating and air conditioning repairs, and maintenance are some of the common house problems taken-off their shoulders. Again, these individuals find modern condo living advantageous, and they consider the costs of the amenities and utilities worth the money they pay.
* Since they don’t have to contend with the usual trappings of raising a home and family, their financial resources are more than adequate to afford them the luxuries of condo-living.

window cleaners

Couples

* Most couples who prefer to live in condos are those who are living-in and often, the unit is in the name of one of the partners wherein he or she is described as single. Hence, there is a clear-cut statement to indicate who has full-ownership over the property, if estrangements between the couples take place. These types of couples prefer to keep to themselves and away from the prying eyes of nosey neighbors. Again, there are enough financial resources between the two of them to support a condo lifestyle.

* Newly married couples who have no plans of raising large families, preferring to raise only one or two children as family members. Usually, both couples are highly employed within the vicinity of their high-rise dwelling, and prefer to have their children near and accessible any time during the day. Since the couples are often at work, they have less time to attend to the maintenance aspect of their residences, and usually resort to hired-help such as nannies or governesses.

If you belong to any of these groups, you may want to know more of the advantages presented by living in a condominium building, and how they compare to living in traditional single-detached homes.

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[Felix07Richerd]

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