When people are looking for a property, condominiums and landed properties are usually at the top of the list. Indeed, if you look around, you can see that these two types of properties are increasing in several towns and cities.
These types of property have their advantages and disadvantages. So, how do you decide which one is better? To determine which is better, you must weigh several factors — from location to facilities to maintenance cost and convenience.
Let's talk about each of these factors to help you decide which property type is better.
1. Maintenance and Convenience
Condominiums are renowned for their worry-free living, which means maintaining the property is not your responsibility. For instance, if you buy a property in Butterworth, Penang, the developers are responsible for painting the façade, cutting the lawn, cleaning the pool, repairing electrical problems, and managing the water lines, among other things.
Living in a condo equates to ultimate simplicity due to its low-maintenance nature, but this comes at a price.
With landed properties, you are liable for the upkeep of not just your home but also your backyard. You must repair a leaky roof, ensure that all electrical components function properly, cut the lawn, ensure that all drains are well secured, maintain the flooring, and repair all other home accessories.
The advantage is that you save further repair costs and keep your spending under check, making things more practical.
2. Noise and Privacy
Due to the high-density nature of condos, you can expect less privacy and occasional or frequent noise from your neighbours.
Foot stomping in the middle of the night, children playing early in the morning, couples arguing on any particular day – noise can be very overwhelming because everyone's house is just one wall apart. Moreover, in a city that never sleeps, expect to hear a lot of street noise, especially if you live on the lower levels of the building.
On the other hand, the privacy you get on a landed property is unmatched; you can do anything you want without fear of your neighbours eavesdropping. Additionally, noise is significantly reduced since households are comparatively far from one another.
Additionally, if you have a large backyard, your house is situated away from busy highways, minimizing or eliminating environmental noise. Therefore, if you hope to have a more tranquil life in which you can unwind peacefully at night, landed property is the way to go.
3. Freedom of Space
While condos with expansive residential
spaces such as five-bedroom units or a penthouse are available, they are usually too expensive Moreover, condos usually have a smaller size and lack outdoor space except for the service area and balcony.
On the other hand, if space is your primary concern, you would never be disappointed by opting for a landed property, especially nice bungalows, with plenty of open room to play. What makes landed property unbeatable in this factor is that they have indoor and outdoor spaces that can be used as you wish.
4. Additional Charges and Security
As aforementioned, maintaining a condo is not easy. Monthly association fees are needed to support not only the unit but also the common areas. The majority of residents, including those who do not use these services, see these charges as an added cost of living.
This monthly contribution includes the cost of ensuring that your home is safe at all times. Condominiums do have superior coverage, with 24-hour staff, guards, and CCTV cameras.
Except for homes constructed within exclusive areas, landed properties do not need monthly association fees. If you do not need the facilities, you don't have to pay for them. However, when it comes to security, you are ultimately responsible for ensuring that your home is safe. Again, landed lands nestled within gated areas are an exception.
5. Availability and Resale Value
Condominiums are readily available; new buildings sprout up every year or two like mushrooms. With a simple search on Google using keywords such as “house for sale in Bukit Mertajam” or “Butterworth property”, you will find several listings.
Choosing a condo that meets your wants and needs is easy since there are a plethora of choices. Condominiums appreciate more rapidly than landed properties in terms of resale value. However, this is contingent upon the market's situation and the condominium's age.
On the other hand, landed properties are very uncommon, and it may not be easy to locate the ideal one given the budget
, location, and size. The good news is that, although landed assets appreciate slowly, their worth never decreases, and have the potential of reaching a higher worth in the long term.
6. Ownership Costs
Condominiums are more economical than landed properties. If you lack the financial
means to purchase a property, there are subsidized condos available in the form of executive condominiums.
They are reasonably priced, situated in prime neighbourhoods, and provide facilities similar to those found in private condominiums.
Living in a landed property is more expensive. Landed properties, depending on their location and size, will significantly cost more.
In a Nutshell
You can see that both types of properties have their benefits and drawbacks. Thus, whether you want a condominium or a landed property completely depends on your personal choice.
However, it’s recommended to consider your need and also that of your family's when making a home purchase. Carefully assess your finances in the next 20 to 30 years to ensure that you are not financially challenged
when the going gets tough.
Finally, choose a property that suits your lifestyle. Modern does not always imply superiority, and customary does not always imply a great choice. For further information, get in touch with Airmas
, your reliable property developer in Penang Mainland.