CBD's urban population keeps growing, It is estimated that by the year 2020, the number would even double. This is why more city dwellers, especially young professionals, are choosing to live in condominiums instead of house and lot properties.
They “go small” to “live big,” as city living proves to be more economical and practical with their current careers. We looked at the benefits of city living, and made a list of the perks that living in a condominium can offer.
A Shorter Commute
Traffic is a given in busy Singapore, Bangkok, Kuala Lumpur and Manila, and rush hour typically extends to rush hours, with the travel time stretching to a painful 5 to 6 hours. Living in a condo near your workplace makes sense because it saves time, transportation cost, and your sanity. A shorter commute is also correlated to lower stress levels, a higher life satisfaction, and an increase in productivity.
Greater Access to Culture
Living in a condo gives you access to cultural offerings because they are usually situated in the heart of the city. Because condos are often within walking distance from malls, restaurants, schools, and other commercial areas, time that you typically spend commuting or waiting out the traffic can be spent watching the latest flick or trying out a newly-opened restaurant.
Those who live in condominiums get to soak in a pool, sweat in a gym, host parties, and chill in a clubhouse--all within the same compound. These benefits would cost more outside, but being a condo owner gives you access to these amenities for free. Because they are located inside the condominium’s compound, residents also get to have peace of mind that they are safe and secure as they use these facilities, even if they’re alone.
Sure, condo owners spend on association dues, but they usually save time and money on home maintenance. A smaller space also means less areas to clean. You also don't need to worry about landscaping, gardening, and labor-intensive activities like roof repair and plumbing. Again, this means more time to do the things you actually want to do.
Security and Safety
Living in a sprawling city doesn’t mean you should sacrifice your safety and security. It’s a good thing that condominiums have security measures in place such as a roving security guard, surveillance cameras, and lobby check-in to monitor the people entering the premises. In an emergency, you can also immediately notify security guards or ask help from your neighbors, who are just a knock away. If you travel often, you can also have peace of mind that your home is most likely safe from burglars. However, if something unfortunate happens while you’re away, you can be sure that you will know about it as soon as possible because your building administration or security will be there to notify you.
Owning a condo unit is cheaper than owning a house and lot. When you invest in a condo unit, you get to own your property at a fairly reasonable price because you attain full ownership of your unit without the responsibility of owning a piece of land. Residents of a condominium also have combined ownership of the facilities and amenities in their building, making it cheaper than having to build your own pool or basketball court. More so, most Singapore, Bangkok, Kuala Lumpur and Manila condos for sale already include business establishments in their area, such as banks, grocery stores, and restaurants, saving you the added cost of transportation because everything you need is within walking distance.
To sum it up, condo living in a city allows you to maximize your time, energy, money, and resources to do the things you love to do, at your own pace. This eventually translates to a better sense of well-being, improved social life, and an overall increase in life satisfaction.