- Real Estate
Living in Condos : High-Rise or Low-Rise Condos : Condo Dues
Nowadays, it is not practical to procure house and lot in urban areas since you will shell out a huge amount of money to do that. As such, those who earn decent income prefer to buy or rent a condominium unit. The condominium units which are also called condos are often strategically located within commercial establishments and offices. Having a condo unit also permit you to be fast-paced which is typical in urban setting. Dwelling in condos can help you use time and resources with efficiency and efficacy.
The high-rise versus the low-rise, take your pick.
There are two types of condominiums, the high-rise and the low-rise, and both have their own advantages. Living in a high-rise condo unit gives you access to wide open areas, nice views and plethora of amenities to enjoy.
Since it is so expensive to buy a land at the heart of well-developed areas, developers instead opt for high-rise to maximize their properties. This is one of the reasons why high-rise buildings are in abundance in business centers.
Low-rise buildings on the other hand are preferred by people who are scared of heights and would like to live with lesser number of people in the community. Occupants of low-rise are not that so interested with the number of amenities.
The common features of condominium units.
It is indeed great to dwell in condos since there are a lot of indulging features to get busy with. Often condos are beefed up with some of these wonderful features (if you have at least five of these in your vicinity you are already very fortunate): swimming pool, bicycle tracks, meditation gardens, outdoor fitness area, library lounge, mini theater, game hub, playroom, cabanas, jogging paths, Jacuzzi, sauna, gyms, elevators, Wi-Fi Hub, yoga/pilates room, massage center, recreational rooms, spa, coffee shop, casual dining establishments, beauty salon, convenience store and playground. And if you are lucky enough you might even have a famous celebrity or personality living in the building as well.
The design of the building that houses condos are often peppered with top notch architecture and landscaping, and this makes living in a condo unit truly satisfying.
The price of the condo unit you will rent or buy depends on the size, location, reputation of the developer and even the so-called condo dues.
But what are condo dues for?
The condo dues can be a big mystery to many occupants. Bear in mind that condo association is a non-stock, non-profit group, the dues are used to cover operational needs and maintenance of the building.
Here are some of the condominium dues paid by the condo dwellers:
Building maintenance. The condo association is responsible for maintaining the building exteriors and common areas such as hallways, elevator lobbies and the like, whilst the occupants are in charge of the maintenance of the interiors of their respective units. For instance, if the building needs a new coat of paint, the money used to do this endeavor will come from the condo dues.
Security, safety and cleaning. The association is also in charge of hiring security guards, janitors, receptionists, building managers and building engineers. The salary of these individuals will come from the condo dues.
Incidental expenses. This will head right to the real estate tax of the land where the building is erected.
Utilities. This includes the electricity that runs the elevator, lighting fixtures and water in common areas.
Although living in condos can be very expensive, the comfort and convenience it offers is truly valuable. But no matter what kind of dwellings you retreat to it is always important to have a peace of mind and you enjoy the things that you do in Life.
And a bonus before saying adios here’s valuable tip to help you save money if you intend to buy a condo unit in the near future.
Put into mind that pre-selling prices are pegged at a much lower price than that of the units that have already been constructed. But you need to depend on pictures and opt for units that are constructed by a reputable developer.
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