With real estate prices soaring, the metropolitan human on this side of the millennium is often faced with a tough choice – should you live in a condominium or a landed home? On one hand, we see people dealing with the demands of a growing family. On the other, there are pressures of living a city life bogging one down. When it comes to offering the family a spacious choice for a home, there is a strict division of opinion.
If you are one of the thousands out there, grappling with this difficult choice, let us make things a little easier. First of all, if you are looking for an executive condominium, check out https://www.rivercove-residences-ec.sg first before reading on as it is the first and last Executive Condominium of 2018 in Singapore.
First things first
What is a Condominium?
A condominium is a form of real estate that includes several individual units, each with its own individual owner. So, if you invest in a condo, short for condominium, rest assured, you have access to a large space. There is ample room for everyone. Condos are mostly part of large apartment buildings. Detached condos are available as well. In this case, however, while the house remains yours, the street & surroundings are strictly co-owned.
A Landed Home
The idea of a home stems from the concept of a landed home. Not many can deny this. It is a standalone property that sits on a piece of land which has been bought or inherited by the owner himself/herself. As such, not only does it offer a big space, there is also the fact that you can do whatever you want with space, long as it remains within the registered space.
Condo V/S Landed Home
Condo – Being part of a large co-owned space, condo owners have access to a great number of facilities. Gymnasium, swimming pool, tennis courts – the options are plenty. For the space-starved city dweller, a condo is a great option simply for the sheer variety of facilities it offers
Landed property – This space is yours & you are the king here. Great! But everything has to be built from scratch, right from the lawn to the kid’s playground – nothing comes easy (or cheap) when you have that piece of land registered under your name.
Condo – Live a quiet & private within the walls of your condo & nobody has a complaint. But the toddler sends a piece of unnecessary waste flying through the gap in the wall or you turn the music up during a house party, the neighbors, in all probability, will ring on you. The biggest con about living in a condo is that there are others living next to your wall. So, privacy is certainly an
Landed property – Again, this is your house & you have every right to do whatever you want. Add an extension, have midnight bonfires – do whatever & nobody gets to raise a question.
Condo – You are part of a big society. Fixing the electrical system, Cleaning the pipes – everything will be taken care of by the builder
Landed property – A small crack in the wall is up for you to fix. And then there is everything else in the house that can go wrong!
Condominiums & landed properties both come with their own set of pros & cons. You can either choose to live with a large set of families within the same building or prioritize space & privacy by buying a nice little home. Either way, it is for you to decide which way of living suits you better.