My sister and I were discussing about condominium living. She is very much interested in getting a condo unit from a newly built building near the school where she’s teaching. It’s actually a few blocks away from where we currently live.
The thing with condo living is that first, the space is fixed. You cannot add to it. What little space you got from the start will be the same space you have for the rest of your condo living time. Second, the disproportionate cost of the property against the number of square meters you are getting. I haven’t seen a unit that is inexpensive! I understand the developers need to get back their investment but sometimes, the price of a unit borders on being extremely ridiculous! Lastly, the increase in cost of living. Whereas before you only pay for the utilities at home, with condo living, you also get to pay for association dues and other maintenance fees from the building.
I also have this fear of being trapped at the floor you are on when an emergency happens. Silly but this thing happened in the past and could happen anytime now.
Sure, I would love to get a unit if I have the money. It can be an investment. But to rely on it to become your home for a long time? I don’t think so.
