Condo vs Landed Properties… The Perennial Question

NOTE: THIS ARTICLE WAS FIRST PUBLISHED IN THE MALAYSIA PROPERTY REVIEW MONTHLY (mprm) MAGAZINE IN AUGUST 2013. FOR REPRINTS, KINDLY EMAIL mprm_rep@hotmail.my, THANK YOU VERY MUCH

High-end, modern, stylish, conveniently located, prime address – these are just some of the benefits of living in condominiums. More and more homeowners looking to make the big urban leap of faith are getting their very own units in these high rise babies.

What’s not to love? They are as convenient as they present themselves. If you have the right choice and the money for it, you’d be living stylishly, grandly, and almost ideally. You may want to reconsider that offer your seller is making if he or she is selling a small house; a condominium is always a far more better option if you want convenience and live a modern lifestyle.

True enough, there are so many reasons to buy a condo. But is a condo unit – roughly the same price of a regular house, sometimes even more expensive – a better buy than an actual house? Here are some reasons why it actually is:

Condo units own prime location. Among the top reasons why these units sell like hotcakes despite their ridiculous price tag is the location. They are at the center of everything. They are always a stone’s throw away from everything that’s important and popular in a city and this drives the buyers in them. Who wants to drive several miles to school or work from home every day anyway?

 

These condo units are secure. From high end CCTV surveillance cameras presence in every nook and cranny of the building to even more highly technological individual home security access, these expensive homes are tightly secure. On top of that, they have their round the clock roving guards and the security entrance by the reception. For this at a regular house, you’d likely have to spend about a quarter of your home’s value to get the same level of security. Oh, and befriend your neighbors to watch your house while you’re away on vacation.

Its amenities are all worth the expense. Pool, gym membership, nursery, spa – these things would require you separate memberships and separate fees, oh and maybe separate access membership cards. If you were living in a condominium unit, you’d only have to be a resident to gain access to all these and more. Prime properties, such as Empire Residence or  Setia Eco Park, is always worth the buck, because you don’t even have to go far because these amenities are right within your complex and are shared exclusively only with your neighbors.

For investment purposes, condominiums are likely to be more easily marketable than the regular house. It has practically everything. Should you want to move out or simply buy it for the sake of investing in it, the return is more likely to come more quickly. It won’t be as hard to sell it considering you have everything taken care of by your developers and all you have to do is sell, compared to having to sell your house where you have to worry about things like curb appeal, sloping, and interior painting.

If what you’re looking for is something that gives you convenience all in one place, not to mention prime access to major landmarks and thoroughfares, a condo is the best option for you. You might have to shell out more cash than the usual home buying, but everything is well worth it if you find the right place to buy.