Advantages and Disadvantages of Living in a Condominium

Published: 09th December 2010
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One of the most popular types of residential real estate in the philippines today is condominium. Part of the reason is because of its many benefits in which many Filipinos have found suitable for their needs. However, like many other types of housings, there are also a number of disadvantages of living in a condominium. So what are the advantages and disadvantages of living in a condominium?

Advantages of Condominiums

Location
There are two different types of condominiums in the Philippines today which are also found in two different locations. The first one is in the city. Most condominiums in the city are found in the heart of some of the busiest business and commercial districts in the Philippines. The luxury of living in these types of residential real estate in the philippines is its accessibility to workplaces and popular entertainment places such as malls, allowing their residents to avoid the usual hassles of rush hour.

The other location in which most condominiums are found is in the outskirts or in the provinces. These types of condominiums are known as condominium complexes. The advantage of living in these types of condominiums is its family-oriented environment, as well as its many amenities such as swimming pools, parks, and playgrounds.

Amenities
Most condominiums in the city can offer amenities such as gyms, an indoor swimming pool, as well as a full-sized sports complex for their residents, while condominium complexes offers all of these as well as a park and a playground, which made it more family-oriented compared to condominiums in the city.

Maintainability and Security
One of the reasons why condominiums became popular in the Philippines is because of its own maintenance and security personnel. Their maintenance personnel maintains all facilities found in the condominium, while their security personnel assure the safety of their residents, particularly because most of their residents are of high stature such as HNWIs (High Net Worth Individuals) as well as wealthy families.

Disadvantages of Condominiums

Location
Because of the location of most condominiums in the city, many Filipinos families found these types of residential real estate in the philippines unsuitable for the needs of their growing children, while the location of condominium complexes made it harder for its residents to get back to their work in the city.

Condo Fees
Other than its expensiveness, residents are also obligated to pay a sum of fees known as condo fees. These fees are usually used for the maintenance of every facilities found in the condominium as well as wages for its personnel.


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