Condominiums are a growing trend of real estate investment among investors from the millennial generations. Condos have seen a rise in demand over the past few decades as they have become better and advanced with the time. Leedon Green Location is perfect for condos as it is better to get a condo in the epicenter of the city. To understand the misconceptions, you need to know what a condo is exactly.
What is a condo?
A condo is just like an apartment but is offered for individual selling. This makes it a real estate according to the law and you will be able to avail all the benefits of a homeowner without the need to spend as much as a real homeowner. Condos are cozy and small living spaces that are generally meant for single or 2 person usage. Over time, condos have evolved and have become an example of sustainable living among investors. They cost a lot less than your own house and there is little to no maintenance involved with them although you will need to avail permissions to renovate your condos from the concerned building administration.
Common misconceptions related to condos
The following are some of the most bizarre and downright hilarious misconceptions about condos that should be ignored at all cost-
They are destroyed after 50 years
One of the biggest misconceptions among rookie investors is that condos are demolished when they complete 50 years. Some people even say that after the completion of a certain time, builder regains the property and it will be taken away from you. This is simply not true and doesn’t even have any base at all. The fact is that just like when you buy a house you receive homeowner certification, you will receive a condo owner certification from the local authority which will certify that it belongs to you and will never be taken away from you.
They are small and it is like living in a box
This statement is partially true as initial condos were built small in size as they weren’t supposed to be a permanent living space. As the times changed, condos nowadays are as comfortable as a normal house and in a lot of terms, even better than that. Now you can avail condos in a variety of sizes according to your lifestyle. Condos are a comfortable place and are filled with automation and advanced technologies that make it a sustainable living space.
Condos aren’t suitable for relaxation like home
People generally think that condos aren’t the most comfortable place to live as the surroundings are always busy, there are noises everywhere, they aren’t clean and a lot of other baseless reasons. In reality, it depends upon where you invest just like in a normal house. If the locality and design of the condos are right, they are perfect for a busy life where you need to have proper relaxation. As they are generally situated in the heart of the city, all the basic amenities can be found at a nearby distance. This makes your life easier and a whole lot more comfortable.