Condominiums might provide the premium condo lifestyle you’ve desired; the location you’ve preferred, or just seem to be the best bang for your money. You might be afraid of condominiums as well; special assessments, common spaces, amenities, and condominium associations.
You’ll meet all kinds of people at condominium open houses: first-time buyers looking to get into the market, investors snapping up rental properties, and, of course, baby boomers wanting to downsize their space and responsibilities.
Condos can be low-rise buildings, townhouses, freestanding houses, duplexes, triplexes, or “mixed-use” buildings, such as condos above offices or storefronts. Moreover, they can be brand new, re-sell, or conversions; that is, buildings that used to be apartments or factories turned into condos.
What makes condos different from freehold houses is that you own your unit; but you also share ownership of the land, building, and common areas. You share costs with fellow members of your condo association, and the board of directors or a property management company makes the big decisions.
Whether you’re seeking to downsize, remodel and flip, or buy your first property; the advice below will help you determine whether condominium living (condo lifestyle) is suitable for you and the traps to avoid along the process.
But what exactly is a condominium?
To put it simply, a condominium is a form of real estate divided into multiple units that are each independently owned; surrounded by common spaces that are collectively held. The majority of condos look like apartment buildings; although condominium communities can take many other shapes; including single-family houses whose exterior is nonetheless jointly owned and maintained by the condo association.
Benefits of Condo Living
Acquiring a condominium is often less expensive than purchasing a single-family house; as far as similar locations and upgrades are considered. However, you should think about condominium dues and all that comes with them to determine whether you’re getting the most bang for your buck.
Strategic Location for Upgraded Condo Lifestyle
Sometimes purchasing a condominium within a highly desired location is your only option. It’s safe to say if you’re looking around in Davao; you’re not going to find any single-family homes for sale in the downtown area; but in a condo community like Camella Manors, it allows you the option to get into an otherwise difficult location. Want ease of access for work, outdoor activities, nightlife, and dining; but without the heavy price that may be found in a single-family home? Condominiums may be the key to get you where you want to be.
Condo Lifestyle: Exclusive Amenities
Each condominium is different given the difference in amenities from one to the next. Most condominiums have some sort of ground maintenance; to keep the common areas surrounding the association in good condition, but the choices are truly limitless. furthermore, the ready-for-occupancy condo in Bajada, Northpoint Davao has resort-inspired amenities like a swimming pool and a clubhouse; on-site 24-hour guards, gated security, gyms, and one more. You will have to ask yourself if you’re going to use the amenities in the condominium you’re thinking about buying; because such amenities, as part of the premium condo lifestyle offering, will most likely be included in your monthly dues.
Someone else handles the outside work
However, freedom from maintenance is one of the biggest draws of condo ownership; that you might not have the time, desire, or ability to enjoy, like backyard gardening, mowing the lawn, or repairing outside structures. Your monthly condo fees cover these services.
Many major costs are shared
By law, a portion of those condo fees goes into a reserve fund. When the property is well managed, this fund covers major repairs like replacing windows and roofing without additional costs to owners. Even when the reserve fund falls short, you’re not in it alone — a “special assessment” will be done and costs will be shared equally among owners.
Premium Condo Lifestyle
If you prefer to live on one floor or in a one- or two-bedroom home, condos allow you to own your own space rather than rent. Common areas like pools and recreation rooms offer opportunities to socialize with neighbors. Many condo developments cater to specific groups — like young professionals, families and older adults.
Unlike renting, you’re free to paint the walls, put up pictures and renovate.
Marketers say that aside from the premium condo lifestyle, condos offer greater security than a freehold home or renting. For one thing, people are more likely to take better care of the property they own, and some buildings offer a secure entrance or a doorman. You might feel safer with neighbors on either side and worry less if you frequently travel.
Reserve your Own British-themed Condo Property in Davao
Few more units are left in the Bradford building, yet the development brings and awards so many perks for all its future condo unit owners. It is always yesterday and today when investors should invest their money in real properties.
Aside from the sub-urban-themed community and its location, there are still a few points of advantage when you invest in Northpoint Davao.
All units in Northpoint are ready for occupancy condo units for sale which means that it is ready for move-in and you can use it for rentals or leasing business. Plus, the property management office allows you to manage your leasing services in short-term or long-term contracts with your tenants.
The ideal location of Northpoint Davao makes it a top choice for condo property seekers who wish to stay in the CBD of Metro Davao. Plus, its feasibility in rentals can grant a condo investor a passive source of income.
On the other hand, if you do not wish to manage your own leasing business, Camella Manors has its inhouse leasing services to do the upkeep for your leased condo unit under a long term contract for a minimum of six months while you wait for your profit as you sit and sleep.
Northpoint Davao has a few numbers of ready for occupancy studio; 1-bedroom, 2-bedroom, and 3-bedroom on its last building Bradford that you might wish to check for investment.
Send a message through our inquiry form or on this website chatbox for more details about the condo units available for sale.