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Why Living in a Condo is a Trend?


The National Capital Region, also known as Metro Manila, is particularly the busiest region in the Philippines. It is very different from the rural provinces across the country that have more peaceful and environmental settings. People in the cities love convenience and for that reason, real estate companies see this as an opportunity to establish various condominiums that will surely make a trend for urban citizens. As we can all observe while traveling across the sixteen cities and one municipality in the region, there are lots of high-rise and residential condos built for potential condo buyers who could be interested in investing.


Living in a condominium has become a trend now especially that it is indeed hassle-free and comfortable to be called “home” for many residents in Metro Manila. Given that buying a house and lot or a townhouse could be very much expensive unlike buying a condo unit that is more convenient and a lot more resourceful. Condominiums are trendy for urban people because it causes a more favorable and advantageous living, especially that most of the condos’ locations are within or near the busy districts of the region. Employees and other corporate and non-corporate workers see this as a benefit for them to travel less and spend more time with their family, friends and loved ones. Another reason why condominiums are interesting nowadays is because they are near essential services like malls, grocery stores, marketplace, schools, universities and of course, it is just a few steps away from your workplace. It is more time efficient and cost effective because it definitely does not require people to travel long hours from their houses to go to work and whenever your condo is just a walking distance to your destination, you don’t have to pay for your commute on public transports or refill gas on your private vehicles. One benefit of living in a condo is their amusing and useful number of amenities. Examples are pools, gyms, clubhouses, and sports-related activities and amenities. These are actually good for our mental well-being since our physical body is being exercised and with that, we can have a healthy mind set. There are also special services if ever you want to hold a party or a big event. You just need to contact or inform the management in order to execute your party plans. Given the present situation, everyone is so obsessed with cleaning and sanitizing every little thing we tend to touch and hold. For this reason, condominium managements make sure that every part of the condo is well-sanitized and cleaned regularly for everyone’s protection. It is indeed a must to assure residents the cleanliness they deserve to be able to contain the spreading virus. A lot of condo owners expect to have their homes secured and safe. That is why management makes sure that all residential units are covered with CCTV cameras and security guards are regularly roaming around the buildings to be able to maintain safe living in the condo. Mental health is a much even priority now especially that it is pandemic and most of us can’t go out and should stay only in the comfort of our homes. With that, real estate companies established different amenities like swimming pools, recreational areas where residents can relax and feel the presence of nature, so that they would not be bothered to go out for a vacation and just stay in their condos where they can still feel the vacation vibe. Living in a condo could be much more fun and meaningful if you do not feel all alone and lonely. With proper communication and strong personality, you could have friends turned into family inside the neighborhood of your condo. Eventually, if stronger ties are formed and you have built long-term relationships with your neighbors, it would be easier for you to ask for help if you need sometimes or organize some friendly and fun events that everyone could enjoy. You could always have a companionship that would definitely enhance your communication and social skills. Indeed, being interested in investing in condominiums is one way to build your financial stability and of course, it is a long-term investment that would be beneficial for you in the future.


\We all know that in order to invest in a condo, you must have the financial capacity especially in the long run. Generation X could have the capacity and capability to buy a condo whenever they want since most of them have regular jobs now and have lots of savings too. But did you know that the Generation Y or the Millennials can also purchase condos now with their own salaries? Yes, you have heard it right! If only they have enough income and separate savings, they can start investing in their desired and dream condo now. Research has shown that more condo buyers nowadays are from the age range that is included in Generation Y. Since we are now living in the Digital Age and everything is more related to technology, millennials are even more addicted to convenience and hassle-free stuff. Moreover, time is very important for them, that is why everything should be time-efficient and according to their respective time schedules. Investing in condo units could be a really huge help to them since they are mostly working young adults now and they want to arrive at work presentable and energetic to become more productive to do their tasks for the day. Millennials want everything to be instant since it is currently the Digital Age. That is why condominiums improved their research and established strategies that would align the preferences of their buyers. They built condos around the busy districts of the cities as mentioned earlier, to be able for their residents to have a more convenient and comfortable living in a condo experience. Since there are some changes in the mental thinking and rational development of Generation Y, a lot of them do not think much of having children or maybe bearing but in the later stage of their life. Most of them put career and family first on top of their priorities before having or building their own family. With that, condos are more individual-friendly where millennial buyers could purely enjoy the art of being alone but not lonely. Most condos are not totally spacious, just enough space for residents to feel at ease and mesmerize the cozy feeling of the condo. Living in a condo is much more time and cost efficient to urban citizens, especially millennials since they just have to maintain the cleanliness and orderliness of their own units. Other amenities should be kept clean by the property management and condominium owners which they can openly enjoy. Millennials are more into adventurous stuff and extracurricular activities in order to balance life and work. Because of this, they are seeking activities that would be beneficial for both their physical, social, and mental well-being. They usually get easily bored on their day-to-day routines so finding something to relieve their stress and think of other things besides work would definitely help improve their everyday setup.


Urban citizens prefer a more modern style of living. They want everything to become a lot trendier and more aligned to what interests’ people more nowadays. Because of that, condominium property owners made sure that their architectural concepts and designs are contemporary and modernized to be able to reach the taste of potential condo unit buyers. These designs are made to become aesthetic to the eyes of unit owners and visitors and also to become more welcoming to guests and other condo staff. Condominiums are even more friendly to foreign nationals. They are not able to own land in the country because of some restrictions but they are not prohibited to own a condo here in the Philippines. Foreigners could explore different business hubs in the National Capital Region and nearby semi-urban areas since they own a condo that they can call “home” here in the country. It would be both convenient and beneficial for them and for their business as well. As mentioned from the past statements in this blog, condominiums are really meant for convenience and accessibility that is why many investors find time and effort to visit situated locations where condos are built. Moreover, there are options of condos that are budget-friendly where urban people can explore and invest into. Proper planning and budgeting are indeed a must to be able to execute and make the investment worth trying because in the long run, it is you who will surely benefit from your hard work. Aside from the convenience and accessibility investing in a condo could bring, it could also be a reason for you to be more practical since investing in condos is a lot cheaper than buying a house and lot in an executive subdivision or village. Establishing condominiums across the metro could help the national economy boost and jump as high as possible since a lot of foreign investors could be interested in investing into it because of its accessibility and convenience to property owners and future condo unit buyers. Condominiums do not just help thousands and thousands of urban people who want to become residential condo owners, but they also contribute to the growth of the country’s economy.


Choosing a condo over a house when deciding what housing property to buy is one of the most practical decisions anyone could ever make. However, it involves a lot of critical thinking, and it also includes a lot of considerations before making the big decision. Of course, one should consider his or her financial capability, opinions of his or her loved ones, and what he or she personally foresee in the future if ever he would choose the appropriate and right housing property for himself. Number one rule is to consider your budget above all else. When you have the proper budgeting and financing, you would be able to cover up all your expenses aside from your housing savings. Indeed, an individual should plan on what to do first before making a decision. Another thing that should be considered is your preferred location to live. If you love the convenience and accessibility brought by the city, choosing to live in a condominium would be the easiest analysis to make. If you are more into feeling the presence of nature or more into environmental setup, a good suggestion must be investing into a house and lot near the metro like Cavite, Laguna, Rizal and Batangas which are just a few minutes or hours away from the busy cities of Metro Manila. Nonetheless, the mentioned provinces do not have a big difference from the cities of NCR since nowadays, it is as accessible and as convenient too just like the huge cities here in the metro. An important aspect to be considered also is your lifestyle or status currently. It has a huge difference if ever you want to buy a house and lot or invest in a condo. It is merely based on your social status and financial capacity so one should be aware of it all the time. One must be knowledgeable also about his or her stand in life since not all people are capable of buying a house in an executive subdivision or investing in a high-rise condominium. Each and every one of us should be mindful in dealing with big decisions like this because it would greatly impact our lives in the future. Take note of the things that should be considered before purchasing a housing property so that you would not forget every little detail that is essential in making these kinds of decisions. Buying a home is just like investing in your future. That is why we need to give so much importance when dealing with this aspect of our lives. Although it is a bit tricky and requires a lot of effort and knowledge, we should not rush, thus, we must think twice in every step of the way towards purchasing a property.



Sources:

https://www.ortigas.com.ph/news/eight-advantages-of-condo-living

https://www.ortigas.com.ph/news/why-millennials-prefer-condo-living

https://leasing.dmcihomes.com/blog/condos-in-key-cities/

https://www.moneymax.ph/personal-finance/articles/condo-vs-house#1_Your_Budget


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