A separately owned unit by an individual in a building structure which is surrounded by shared common areas, such as pools, garages, gyms, etc., which are jointly owned, is known as a condominium, also called ‘condo’ in short. Condos are usually available in high-rise buildings or structures. They are often termed as “common interest development” areas because the common areas are managed by the professional management company. Such facilities are furnished in the condominium at Liv @ MB.
Just the condo owner has to pay a certain amount to the property management company for the services rendered by the company, these include management of the exterior, such as gyms, elevators, pools, etc.
If you want to buy a house you have to put down a large amount of money for even down payment and have to live their permanent even if you don’t like the area whereas if you opt to buy a condo you also have an option to rent the condo and see if that area and services are suitable for them before making its long-term ownership.
Why one should opt for living in a condominium?
- Maintenance is low and affordable –Choosing a condo can be cost-effective as one doesn’t have to worry about the maintenance of the exterior, such as mowing the lawn or fixing a broken roof, etc., as it is managed by the property management company. They only have to worry about the maintenance of the interior of the condo.
- Sense Of security –
Security is one of the burning concerns, nowadays. Living in a condo can solve all the issues, as it has proper security staff that guards the entrance properly which is not available for people living in a house or townhomes. In many cases, single people don’t want to leave alone, but living in a condo gives them a sense of safety. If one has odd hours of duty or has to travel frequently it is very beneficial for them.
- Circumstances that allow to socialize –
One can socialize with other people through many social events, such as pool parties, barbecues, etc. They can even see their neighbors passing their hallway and have a chance to interactive with them. So, it helps to have a great sense of community since you are very close to your neighbors and can socialize with them.
- Amenities –
One can have outstanding amenities such as a pool, dog park, clubhouse, business centers, and much more, and the cost of enjoying these amenities can be shared among everyone.
Hence, buying a condominium can be very helpful and at the same time be beneficial for all these factors.