Davao Real Estate Articles
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December 20, 2011
It is therefore very important that you consider these fees fairly when you compare what you'd pay for similar services in a typical house and lot property.
One of the many benefits and one that tops the list of why people choose condo living, is the enjoyment of a number of different amenities that are set in professionally landscaped gardens.
Coming home after a stressful day, you can start thinking of relaxing beside the pool, read a favorite novel, do a short workout in the gym, or just sit out in your own balcony with a sundowner, enjoying the view. All these benefits are part and parcel of condo living. No more thoughts about the weeds overpowering your garden, leaves piling up on the lawn, taking care of repairs, or even worry about strangers ringing your doorbell.
Bear in mind, though, like any residence, wear and tear happens over time and diligent upkeep is necessary to prolong the lifespan of the building. This is where association dues come in. Your timely payment of dues are essential to ensure your quality of life remains topnotch. Funds must be available to handle the upkeep and repairs of the condominium's common areas, general housekeeping and cleaning. It is therefore very important that you consider these fees fairly when you compare what you'd pay for similar services in a typical house and lot property.
General security, for instance, is a very important consideration for choosing condominiums. There is 24/7 security service and most condominiums have a camera surveillance system in place. Contrast this to owning a lowrise residence where, to feel secure, you will have to arrange for a security guard and pay their monthly fees. Or, you may have to invest heavily for a good camera surveillance system. Keep in mind also that a substantial portion of your association dues goes toward payment of property taxes on all common areas as imposed by the local government. Looking at the overall picture, the dues also protect your investment. They pay for full insurance protection against damages caused by accidents and calamities. This ensures your investment is protected at all times. In addition, not too many condo owners realize that a "reserve fund" is also created with the surplus of dues received which remains on hand so that essential services can be paid for in the future. The condo board, whose members are the unit holders, administers the fund, which covers unexpected problems.
Once in a while, we hear from members or potential unit owners that they do not like having to pay condo dues that support an amenity they do not plan to use - most commonly, the pool or the gym. Truth be said, the maintenance of the pools or the gym is just a minute fraction of the total costs in the adminitration of the condominium complex. Who knows, maybe your guests or visitors would enjoy the amenities at some point, even if you don't. The amenities of the condominium are the greatest attraction and serve as an extention to your living space. You, your friends, families and neighbors can gather without ever having to leave the complex. Such convenience and luxury are at most times, missing when you own a lowrise residence.
If you are future-oriented, then you will foresee that from diligent upkeep and maintenance of the building and its amenities, your investment's resale value will be enhanced. Who knows, come time to move, you can recover your investment, plus more. So, be practical and consider that association dues really are important and are actually a bargain. Believe it - from the perspective of somebody who owns a typical house and lot property, it costs more to pay for the same type of services you will naturally get when you own a condominium.
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Davao Real Estate
Tips and guide to owning real estate in Davao City, Philippines. Your guide to doing it right!
Buying a Home
You want to live in the nicest home that you can afford. And you want to have enough money to buy the things you need
and live the lifestyle you choose. You can achieve both of these by planning carefully and getting the right advice.
Building Your Team
You make the entire process of finding and buying a home in Davao much more enjoyable by simply
surrounding yourself with a team of experienced home-buying specialists
Searching for your New Home
The first step to choosing a home is to find homes for sale in Davao. Today you have more house-hunting resources
than ever before at your command.
Buying a Condo
When you hear "condominium," your first image may be of a luxury high-rise in a big city. However, a condominium is not a
type of building, but a type of property ownership.
If you have any questions and/or concerns please don't hesitate to