Deciding where to live is a major life decision. This is because this decision has the power to impact your life significantly for years to come. Many people cannot afford to or are unable to change their housing situation if they do not find their selection to their liking. There might be monetary concern or the economy might simply turn against you, making it almost impossible for you to sell your property. Thus, this big ticket decision must be made after careful deliberation and consideration.
For you to make an informed assessment of the relative merits of each of these options, it is vital that you are aware of which qualities you are looking for. Moreover, you should also have a clear picture of what your ideal living situation would look like. Do not overlook the importance of this step as without a clear understanding of your requirements, the chances of you making the wrong decision goes up significantly.
So what factors should you consider before weighing the pros and cons of condominium versus landed property? Your budget is the first step towards making your selection and should comprise of a range rather than a fixed figure. This would help in staying within your means, no matter how tempted you are with more expensive options. Other factors include family size, cost, space, privacy, location, neighbours/neighbourhood, resale value to name only the more important ones.
A closer inspection of these factors will help you make the right decision to land your dream home or to Sell your home fast.
Why You Should Choose a Condominium
This is the ideal living situation for couples looking for a range of amenities in their housing. Many condos come equipped with facilities like gym, sauna, swimming pool, restaurants, and tennis courts, making them ideal living places for young, active couples.
High-end luxury condo-buildings offer even more facilities, but if you choose one with just the basics, condos can be a cheaper option as well. Moreover, condos make a great long-term investment as they are easy to rent out, especially in cities, compared to landed property.
Why You Shouldn’t Choose a Condominium
While all the facilities are great, the added cost can rake up to quite a sum which would be daunting for those who aren’t going to sue these facilities regularly. Condos are typically not a spacious living arrangement, making them unsuitable for growing families. Moreover, condos come with a lot of rules and regulations that some might find too restricting.
Why You Should Choose Landed Property
This is the ideal property for families and those looking for freedom to customise their living space. You can decide how to decorate and design your home and add as
many facilities as you want with having to incur a hefty monthly bill. Moreover, landed property appreciates in value in the long-run, making them ideal long-term investments.
Why You Shouldn’t Choose Landed Property
Landed property can be quite expensive, especially in city areas. To buy a more affordable property, you might find yourself buying a property further away from the city, which would add minutes to your commute. Furthermore, landed property requires a lot of regular maintenance and comes with security concerns.