The small condo is getting popular here. The mention of condo gives one the impression of a building but the small condo is a 2-story or 3-story building with 6 to 10 units of condominium. Manned by an admin and a security guard, the residential condo seems cozy especially when there is ample parking. An aunt lives in one and she says it is like having a family since there is a certain closeness among the residents unlike when living in a building condo.
An apartment may be better under certain conditions. I am not an expert on condo resales but it is my peception that in many areas of the USA sellers struggle with condo fees and take huge losses to escape. Then again, in my area many houses are on the market for 3-5 years. Location, location, location. It don't come easy, as the song says. My perception? The housing market in general has suffered since the end of the Bush presidency and tanked one into Obama's first term.
Living in a place and then selling it in are two different things. A person might be happier to live in a condo, but when the time comes to move on and sell it, it would be easier to sell an apartment or an house as there are more people that will be looking for that kind of property.
A condo has advantages an apartment hasn't, but at the same time it's more expensive. I think above all that is safer, so it depends on how exclusive you want to be.
I agree to that but we can also see the trend that the young, particularly couples who are both working. Condo sales now are brisk and even if there are lots of condo builders around, a used condo is more saleable according to our real estate broker friend. The reason is that a used condo is already established and had solved minor problems like leaks in the bathroom and excessive heat in the kitchen. With apartments, it doesn't look like that hot anymore.
I have looked into purchasing a condo but I was told by so many that they are hard to sell if you choose to do so. I am at an age now however that I probably wouldn't be selling or wouldn't be moving. It is still a possibility for me but at the present time I choose to rent. I am interested in what everybody has to say in the post. Thanks for posting this topic.
The prices for houses/apartments/rental properties/holes in the ground is insanely high in some coast areas of the US. I can't imagine what it's like paying 30 years for a 1-2 bedroom(s) apartments. As for the small condo, it all depends of the number of people that live in it. It can be pretty comfortable for a couple with no kids, but if 1-2 kids are involved, then the space will definitely be a problem at some point.
The size of the property certainly makes a difference when it comes to how many people are living there. A condo is ideal for maybe a couple or a single person but I wouldn't like to be living in one if I had 3 children running round and maybe a grandparent sat in the corner!
Would you believe that some condos here measuring 25 square meters in total floor area have no limits on the number of people residing? One condo manager told me that they cannot restrict the number of people coming in since guests are allowed any time. Although the maximum number of residents is clearly stipulated in the contract, they have no way to enforce it. So even if there are 10 people in that unit of 25 square meters, it is up to the discretion of the unit owner if he allows that crowd in his property.
I knew there was a limit but didn't realise they struggled to actually endorse it. Comfort would be the main issue for me and while I like company, sometimes to many people can be a nightmare at times so I wouldn't want it to crowded.
