Fri. Apr 3rd, 2020

Condominium- A Dream Come True

When you graduate from college, what is the first thing that you do? Needless to say, you start looking for a well paid job in a reputed organization so as to provide a better lifestyle for your family.

Everyone aspires to have his own house one day, which serves as proof of his hard work that he has undergone all his life so as to reach this position where he can afford to by his own house.

Unfortunately, there are very few who are lucky enough who get the privilege of fulfilling their dreams due to lady luck being on their side while others are forced to live on rent as paying guests and having to endure the landlord at the end of every month for his payment.

Definition

However, there is a silver lining amongst all this tension, one which not many able are aware of and therefore fail to utilize on the opportunity even when it is presented to them.

This is where condominium comes into the picture and things start to change for the better. A condominium (condo for short) has been described as a living space that has the looks of a small apartment which can be occupied by two or more people.

You would find it difficult to tell it apart from a drawing room due to its similarity to it, despite there being a considerable difference in the size of both. Another thing that differentiates the two is that the condo is easily saleable and hence can be categorized as real estate.

Condo can also pass off as a residential apartment in a Porsche locality, but as joint family concept is quite rare in today’s times, condos are accumulated by not more than two people and is like a home of one family.

Sims Villa

While we are on the subject, it is impossible not to mention sims villa when talking about condominium as it is the latest developmental project proposed by sims urban oasis and is located in Singapore.

It is part of a project where huge roads and expressways are going to be constructed by the sims group which can serve for upcoming residents of the society and the property developmental project is a joint venture of Leong Group and Citizen Development Pvt. Ltd.

Pros and Cons

However, it does not mean that it is completely hassle free and everything will go down smoothly and therefore it is important to talk about its advantages and disadvantages so as to get a clear picture.

Advantages:

  • As with many other projects, the main plus point here is that the cost of maintenance is quite low
  • It is relatively cheaper as is the case when it comes to condos, due to it being smaller in size to an entire room
  • It has the basic facilities like electricity, water, roads and added benefits like gym, swimming pool, club house

Disadvantages:

  • The maintenance for gym and pool is quite high as with all condos
  • The privacy space is quite limited and you are in constant scrutiny of locals
  • You cannot decide certain things on your own and need permission from the authorities, even for your own house.