Whether you are a first-time buyer or have already bought your properties before, it is necessary to understand and know the market trends so that you can pick the best option for yourself.

Modern condominiums, or condos for short, are now a popular choice as they are not only a great investment, but also are very secure and provide a vast range of features and amenities in one place.

In this blog, we will explore the top benefits of living in a condominium and why more people opt for it.

Great long-term investment

Purchasing real estate properties is daunting, but is a great investment in the long run.

Given that condominiums are slightly less expensive than single-unit houses, they are a great real estate investment in the long run. This is largely due to condos being built in prime locations that can offer good rental returns or can be sold at a good price based on the neighborhood value.

Accessibility

Factors such as location, accessibility, features and amenities, safety and security, etc. are extremely important to consider before buying your home.
Most condominiums offer a host of amenities that are usually not always easily accessible. Whether it’s the gym, the swimming pool, or the local park, you need to travel to these places to access them. However, condominium complexes offer them all in one place, with usually little to no fee.

1. Location

Keeping up with the emerging real estate market trends will greatly help you to choose the right location for your investment, i.e. your home. Most modern condo complexes are located in central places that have very easy access to local schools, hospitals, malls, offices, banks, and more. This also makes transportation easier and more available, saving more time, energy, and money.

2. Premium features and amenities

Modern condos these days offer a lot of facilities and amenities that make living more comfortable. Since these are large complexes, ample facilities are available within the premises. This makes it easier and saves you from the hassle of finding these amenities elsewhere, at a distance from your home.

Some of the common features and amenities that are readily available in most modern condominium projects in Dhaka are as follows:

• Equipped Gymnasium

• In-compound jogging tracks

• Swimming pools for both kids and adults

• Well-equipped Kids’ play areas, indoor gaming zones

• Parks and Badminton Courts

• Rooftop Garden with Seating Area

• Superstore or grocery shop

• Medical facilities, such as clinics and pharmacies

• Community or recreation center, social lounges

• Day Care center for children

• Religious prayer spaces like mosques

• Bar-B-Q Area

• ATM Booth

• Laundry Facility

• Library with Wi-Fi facility

• 24/7 CCTV Surveillance

• Modern Fire Protection System

• Water Purification System

• Required Generator Backup

• Wi-Fi Connectivity

Other amenities that may be offered include restaurants, coffee shops, and salons for both men and women. The availability of extensive open space (about 50-65%) helps greatly to relax and unwind from the busy city life. Some modern condos even have educational institutes- like schools, colleges, or universities- offices, and other commercial spaces too.

One such project is the Tropical Homes’ premium condominium project, Tropical Haider Amorapuri, in Banasree, Dhaka.

3. Great community

While apartments and single-unit houses are built within neighborhoods, condos offer a greater sense of community as they act like an ideal neighborhood.
As condos are very secure and have amenities available, they provide a good sense of community because you get ample opportunities to interact and socialize with your neighbors. This allows the creation of a long-lasting harmony between all the residents in the condo complex. Since there are rules to follow living within the premises, it’s easy to live in a community, where everyone follows the rules.

Low maintenance cost

One of the biggest benefits of living in condominiums is the low cost of maintenance. As the property is usually managed by a single entity, the management is responsible for any type of major or minor repairs, which is why they have a team of staff to take care of such maintenance that you would have to do otherwise, if you lived in an apartment.

Safety and Security

Living in a condominium complex allows you to have enhanced security with safety protocols. As there may be several entry and exit points, there are security guards who monitor these points by checking and logging every individual entering or leaving the premises.

There may be lobbies where receptionists ensure guests sign the guest book and provide identification before gaining entry to the buildings. Also, there are security cameras installed everywhere that are monitored 24/7.

Conclusion

Purchasing your home can be quite daunting. Given how condominiums provide an overall “package” of readily available amenities, have low maintenance costs, upgraded safety and security, a good community, and a great investment in the long run, it is safe to say, that purchasing a condo is worth the benefits.

Condominiums not only make life easy, but they also provide a good deal of luxuries that are usually sought elsewhere, far from home. They also make it greatly convenient, significantly reducing travel time, cost, and energy.

Frequently Asked Questions (FAQs)

1. What factors to consider when purchasing a condo?

Location, available amenities and utilities, and safety should be considered.

2. What amenities and features can I look for before purchasing a condo?

Large open spaces, gyms, health and fitness centers, indoor and outdoor play areas, shops, community centers, religious facilities, etc.