If you’ve thought about renting or buying a condo but were discouraged by a well-meaning yet uninformed family or friend, you’re not alone. Condominiums are, for some reason, a notorious subject of homebuyer misinformation because of how intimidating they seem. But in this article, we will debunk the 7 most common misconceptions and educate you on the facts about condo living so you know all of your options.
Misconception #1: Condos will not have enough space for your stuff.
While it’s true that condo space is usually limited, most people actually find that convenient because they have less space to clean and maintain. You can also easily find pieces of furniture designed for condo-dwelling, so you’ll be able to maximize and save space. If the lack of space really bothers you, don’t worry, because most condominium buildings have different size options to choose from.
Misconception #2: Condos will not give you much privacy.
You may be sharing a wall with your neighbors, but that doesn’t mean you will no longer be able to enjoy your privacy in a condo. Newer developments offer fewer units per floor, which means there are fewer neighbors even at full capacity.
Misconception #3: Home association fees are too expensive.
Condo fees can seem expensive, but in the long run, they are still cheaper than the cost of maintaining a house. Homeowners are faced with higher utility bills and renovation costs, and they will have to shoulder any unforeseen maintenance costs.
Misconception #4: You can’t redesign your unit.
Most condos will have restrictions, like not allowing drilling holes in your walls or taking a wall down, but that doesn’t mean you can’t make any changes to personalize your place. You can absolutely repaint, play around with your furniture and fixtures, and hang photos and art on the walls — just make sure you’re not disturbing your neighbors in the process.
Misconception #5: Condos are only for single buyers.
It’s a very popular misconception that condos are suitable only for single buyers and not for families. In fact, young and small families, couples, and even retirees can be a good fit for condo living just as long as they choose a condominium complex that meets all their needs, like being accessible to schools, recreational parks, malls and supermarkets, and hospitals.
Misconception #6: You can absolutely lease out your condo.
You may think you can lease out your condo unit or earn some extra income by renting it out on Airbnb when you’re out of town, but different condominium buildings have different rules regarding this. Check with your condo’s admin first before listing your place to avoid unnecessary fines and rule-breaking.
Misconception #7: Buying a condo is no longer a good investment.
With COVID-19 introducing the work-from-home arrangement to office workers, a lot of employees no longer see the need to live in the city for their jobs. Obviously, this and other factors have impacted the condo market, but according to experts, things should recover in no time once everything gets back to normal. Furthermore, there is still a huge demand for all kinds of housing in the Philippines.
At Suntrust Shanata in Novaliches, Quezon City, you can experience all the benefits a condo has to offer while enjoying the tranquility of living in nature. With its sprawling amenities and spacious neighborhood, you’ll savor peace of mind while being in close proximity to Metro Manila’s landmarks and commercial facilities.