Condominium or a condo comes under the purview of real estate wherein a piece of land or a flat is owned by an individual but the area excluding the flat like the pathways, common spaces etc are collectively owned by the members of the housing association. A condo is generally a peaceful location surrounded with pleasant neighborhood and facilitated with all amenities. Individuals with family often choose condo living to living in a single structured apartment.
Social benefits of living in a condo
As history describes ‘human being is a social animal’ so a condo lifestyle is preferred by many as a pleasant social setting wherein you find people from different communities residing in one place, kids of all age groups mixing among themselves and elderly enjoying the company of other like aged people. One can expect to experience cultural exchange and religious tolerance at condo living. Buildings housing condos are generally located near amenities such as schools, hospitals etc with better transport facilities thereby scoring on location factor in this booming real estate phase.
Financial benefits of living in a condo
Like mentioned above, a condo is a flat bought with a purchase deed by an individual. So by all means an individual can sell this place with the rising real estate prices. This proves condo buying an intelligent investment option. Again this space can also be let out on rent thereby earning monthly income from it.
Now a day condo living has become more of a luxury statement rather than just accommodation with real estate companies building such condos besides beaches, shopping centres and around other posh areas. Many companies offer condos such as The Skywoods Condo promising you a secluded luxury accommodation setting amidst the nature and a holistic living with a well planned layout.