Investing in a property is a crucial decision that one makes in their life. Nobody wants to buy a property whose value decreases in the future, leaving them with nothing. Major investments like that in property are expected to yield manifold returns in the future. There are many types of properties like apartments, houses, condos, villas, flats, etc. Today we’ll discuss the two most major housing options condo or house.
Shall I Buy A House Or A Condo?
Investing in a condo or house (คอน โด หรือ บ้าน, which is the term in Thai) depends upon innumerable factors that are mentioned below:
1. Maintenance
Since a single individual owns a house, all the maintenance tasks must be done by him. Everything is privately owned by him. From cleaning the swimming pool to the maintenance of the lawn, all expenses are borne by the single owner. While in condos, there are individual units in a building that different owners own. The maintenance of common areas like community halls, gardens, swimming pools are taken up jointly by the owners.
2. Security
In condos, you’ll have neighbors below, above practically all around you. If you are a family person, then condos will be the best option for you. They are much securing than houses as they are generally located in the heart of cities. They allow an extended option for improving your social life. On the contrary, houses can be situated either in the city or in the suburbs or even on the outskirts. Thus, you have to be cautious while leaving your home.
3. Facilities And Basic Amenities
In houses, you can go for a fully furnished house with all lavish amenities like a swimming pool, lawn, tennis ground, etc. But beware, whether as a tenant or as an owner, you will solely be responsible for the payment of these facilities. In condos, these facilities are shared by many house owners; thus, it’s a perk installing and sharing the expenses of amenities like jogging paths, bars, badminton courts, etc.
4. Insurance
Insurance rates of condos are much cheaper than houses as the members association is responsible for incurring expenditures related to the roofing system, pools, clubs, etc. You only have to bear the interior costs. Comparatively, housing premiums are costlier.
Conclusion
If you are a first-time buyer, condos can cut down your cost to a considerable extent. Security-wise too, condos are safer than individual houses. So now you must’ve got it licked: Condos or house?
