A condo can be anything from duplexes or triplexes, to stand alone buildings, to mixed purpose buildings with both offices and condos being in the same building, to a full blown condominium project like squareone condo. A lot of different condos have different pros and cons and in this article we will be discussing how living in a condo can be a good thing for you but also why it might not suit your living style.
Of the positives you get from living in a condominium one of the most appealing things is that someone else takes care of all the external maintenance. Many people who live in houses downsize because of this as they just cannot or do not want to take care of the maintenance. Another plus point is the fact that majority costs are shared, the monthly fees goes into a reserve that takes care of all maintenance and all of the damage costs so you won’t have to worry about taking up big repairs of spend a lot of money on the maintenance of your house’s exterior. Lastly you also get a lot of amenities like a theatre room, a snooker and recreational area, a swimming pool, a indoor gym, and other things too that would likely cost a fortune in a house.
Of the cons of living in a condo, the first is that many of the big complexes do have a very high price and it is not always going to be a huge down size moving to a condo if you move to the more expensive ones. Another problem often faced is the fact that condos do not get their values appreciated like a house does since it is not on freehold property rather it is inside a building built on top of one piece of land.