Governments and corporations are and have always been in the real estate market. Just as any other entity trying to turn a profit would be, they try and build as well as buy property and either sell or lease out to individuals. Young professionals have got it rough, but many of them either don’t know or simply just not bothered by their set of circumstances. Apartment complexes are becoming more and more advanced in design and the technology they use, which is making things questionable for condominium lovers.
The modernity in which the new apartment buildings are built in is a staggering sight to behold. Just as homes are becoming ‘smart homes’ so to are apartments with integrated technology. Although there are definitive design differences, sometimes it all just boils down to money. Apartment buildings are singly owned by one entity which is usually a corporation. Condos however, are owned individually meaning different condos have different landlords. Even though the condos might themselves be in a complex, each tenant must deal with his or her own landlord on a one to one basis. With this in mind, should young professionals simply give up on condos since apartments are such high quality nowadays?
Basic premise fuelling interiors
To save anyone from confusion, the basic premise that drives the design of apartments and condos is down to the way they intake money. Because apartments are owned by one entity, the designs are going to be similar, so there is a much more even income across the board. The slight variations of interior designs will be due to height, and the top floors of apartment buildings are generally more luxurious. Condos, on the other hand, are inherently going to be for a more affluent crowd. Because condos are individually priced, the landlord has the incentive to increase their monthly rent fees by improving the interior however they wish. Therefore the more unique and pleasurable design they have, the more likely they will be earning a bigger profit.
Differences in luxuries
Young professionals are very career-minded and focussed on stepping up on the ladder in their chosen fields of expertise. Apartments provide them with very basic amenities that are purely there to make life easier. Generally if there is parking available, you be consigned one parking spot per apartment; however, you may need to pay for and renew the permit required. Modern apartments have access to a fitness center that is either on the ground floor, or a full membership of a local gym comes with the apartment. One area in which apartments have now caught up with condos is the outdoor swimming pool. However, these swimming pools are generally only opened during the late spring and summer months. The usual laundry facilities are going to be present too so you can wash and iron your clothes.
Condos, on the other hand, are the perfect bachelor lifestyle choice. They focus on providing the tenant with an atmosphere of relaxation and style. The outdoor pool is almost always open, and anyone can take a swim anytime they like. Regular maintenance on swimming pools is done by the homeowners association which all condo tenants must join. The association requires a monthly fee to upkeep the commons and general maintenance of the condo complex. You can also expect jacuzzis to be alongside the swimming pool and remain very popular all year round. Condo complexes may also have their own security service as all as a concierge service. The commons room may have such games as table football, table ice hockey, chess boards, a large top of the line television, a small area to read books as well as refreshment stations such as coffee machines and vending machines. On the whole a more rounded and favorable amenities option for condos tenants.
Westernized style abroad
Apartments are torn between two things which are the necessity to provide housing for the increasing population and to be an attractive option for the young and affluent professional. However what you can see all over the world is that many old apartment buildings have been modernized to keep up with the trends. You can’t teach an old dog new tricks, and this is the sad reality of those apartment buildings. They would have to be ripped apart room to room in order to accommodate modern standards which takes time and money. Hence why it rarely gets done and the building owners choose to compete with competitive pricing rather than full modernization techniques. Another reason why mass modernization is avoided is that while the renovation and refurbishment takes place, the tenant has to usually move out and this causes the building owner to lose money.
The choices of a condominium in places like Singapore reflect the Western style incredibly well. They have contemporary and modern interior designs, with a great focus on luxury and leisure. Since Singapore is an economy mostly based on financial services, people who live and work in the central part of the city, don’t often own cars or even drive. Hence why usually, car parking spaces are scare for condo owners and instead there is a giant outdoor swimming pool for tenants to enjoy. A like of vegetation is also present as palm trees, and intricate bush plants surround the condo complexes. Singapore condos also offer a great view of the city, as they’re normally spaced out from the building surrounding them, so the view isn’t impeded. Each condo has its own balcony whereby you can set up some lounge chairs and even consume your meals out in the open to enjoy the sun and fresh air.
The question is, should young professionals give up on condos? Although they are more expensive, they offer a level above apartments of that there is no doubt. The amenities are simply better and more varied than apartments. Apartments are mass produced and suffer from a lack of mass modernization, so it’s hit or miss with your choices. With condos, it’s the opposite with a focus on luxury and making your tenancy as pleasurable as possible. Because you only an individual landlord, communicating one one one is more effective than if you were trying to get something fixed or changed in an apartment building.