By: Property Guru    Purchasing a condominium can be a rewarding venture. However, before you dive in, it’s important to know common purchasing mistakes that can turn your dream home into a headache. We will equip you with expert tips and unveil award-winning properties from the PropertyGuru Asia Property Awards Singapore 2023 that exemplify smart condo choices.   Mistake 1: Not doing enough research Don’t let your excitement over buying a condominium cloud your judgment. Thorough research is essential to avoid unpleasant surprises later. So, ditch the purely online approach and schedule physical visits to assess the building’s overall structural integrity and common area upkeep. Check out the unit itself for any signs of wear and tear. Inspect the type of materials and brands used in constructing and furnishing the condominium. Lentor Modern by GuocoLand (Winner, Best Private Condo Development, Best Integrated Condo Development, Best Private Condo Architectural Design and Best Developer) for example, uses reputable brands such as Hansgrohe, Roca, Franke, and SMEG, ensuring durability and lasting appeal. Next, ask about potential hidden costs, such as condo fees, maintenance charges, and any special assessments that might arise. Make sure to also review the homeowner association (HOA) rules. Understand their regulations on noise, pets, renovations, and common area usage. Ensure they align with your lifestyle to avoid future conflicts. Investigate the HOA’s financial stability and track record in maintaining the building and managing reserves.   Mistake 2: Purchasing a property without considering its resale value  Your dream condo might tick all the boxes today, but will it retain its appeal years down the line? Resale value is paramount. Here are key factors that affect a condominium’s resale value:   1. Location  Beyond the condominium itself, its location heavily impacts its value and your daily life. So, before you purchase a condo, ask yourself:  How close is it to MRT stations and other public transportation options?  Is it in a well-established area with strong infrastructure and amenities?  Does it offer easy access to necessities such as grocery stores and shopping malls? Condos like Lentor Modern (Winner, Best Private Condo Development, Best Integrated Condo Development, Best Private Condo Architectural Design and Best Developer) take convenience to the next level.  Situated directly above a mall, residents enjoy lift access to a plethora of shops, restaurants, and even a supermarket. Plus, it’s directly connected to the Lentor MRT station, making Orchard Road, Botanic Gardens, or the central business district (CBD) a train ride away. Meanwhile, Grand Dunman by SingHaiyi Group Ltd (Winner, Best Mega Scale Condo Development, Best Mega Scale Condo Architectural Design, Best Mega Scale Condo Landscape Design), is near the CBD, Dakota and Mountbatten MRT stations, and the East Coast Parkway expressway. This gives homeowners effortless access to the bustling downtown core and beyond.   2. Type of facilities available within the condo  High-demand facilities can significantly boost a condominium’s resale value by catering to specific buyer segments: Families and fitness enthusiasts: Gyms, swimming pools, and children’s play areas are highly sought-after amenities that enhance lifestyle and can command higher prices.  Professionals and young couples: Concierge services, business centres, and entertainment rooms offer convenience and luxury, making them attractive to this demographic.  Unique offerings: Rooftop gardens, movie theatres, or sports courts cater to specific interests and can stand out in the market, potentially attracting a premium price. Blossoms By The Park (Winner, Best Private Condo Landscape Design and Best Private Condo Interior Design) by EL Development Pte Ltd  features a gym, function room, entertainment room, various pavilions, and a children’s play area, catering to families and those seeking community spaces. READ ON 

  By: OCNJ Daily    Maintaining an entire house and the yard can be a nightmare for some people. Buying a single-family home has also increased, hindering many with limited budgets from owning a home. Fortunately, there are various properties to choose from. Some do not involve a lot of upkeep and maintenance and come at reasonable prices. One ideal option is a condominium. A condominium is a privately owned unit in a community of other units. Generally, you own the condo’s interior and exterior structural elements. However, elements like elevators, pools, gyms, and hallways are communally owned. For most people, buying a condo is about its simplicity. You only need to care for the interiors; the management company maintains the rest. Condos are becoming famous, especially for individuals who want to downsize or are looking for homes that are easy to care for. Easy to Maintain One of the primary advantages of buying and living in a condo is the ease of maintenance. You don’t need to worry about hiring a contractor to fix the pool or something on the exterior. Everything is taken care of by someone else. Therefore, consider looking at the myrtle beach resorts condos for sale and enjoy the ease of maintenance. Most condos have an HOA that handles maintenance and keeps the community clean. Therefore, buying a condo is a massive relief as it enhances your living experience. Lower Price Condos can be very affordable for a person buying a home for the first time. In most areas, their prices are lower compared to ordinary homes. The low price of buying a condo means you take a smaller loan and monthly payments. It also means you only need a small down payment. Wide-Range Amenities The amenities available in condominiums vary, but most offer common areas and amenities like clubhouses, swimming pools, gyms, and group recreational activities. You will need to pay more for these elements when buying a single-family unit. Condos offer these amenities that you pay for through the HOA payment. Additionally, these amenities allow you to know your neighbors better. You can spend more time with your neighbors, which is an excellent benefit for people living alone or who love socializing. In short, living in a condo offers a great way of making friends and staying engaged. Immense Security Most condos are in gated communities with locked gates. The entries have professional security personnel and doorkeepers to limit access and ensure the residents’ safety. Even if you will be living alone, you don’t need to worry about security breaches or break-ins. Condos have numerous security measures to protect everyone. Easy Access to Urban Life Condos are commonly located in downtown areas. This offers you easy access to the city life. You can walk, ride a bike, or drive a short distance to access everything. Buying a condo is cheap and reasonable, allowing you to access a more active lifestyle. That means you do not have to spend much money to access shopping malls and restaurants or attend shows. Conclusion There are numerous benefits to myrtle beach resorts condos for sale. So, buying a condo is a significant decision whether you need a starter home or an investment. Figure out what you need regarding finances and lifestyle, and talk to a real estate agent.

  By: AZ Big Media    Here’s one of the indicators of a project that is also one of the least helpful to buyers – the number of transactions relative to the number of units. That’s because few transactions can go both ways, either living there is so good that few want to sell (quite often, they can’t find a replacement property that matches theirs for space, convenience, community spirit, etc. ), or there’s just simply weak demand for the project. Note: we’ve also made the condos the larger ones, with more than 200 units. Otherwise, it wouldn’t be fair, as boutique condos with 50 or fewer units also rarely see transactions; and in their case, it’s more about scarcity than quality. READ ON

  By: ABS CBN News    The increasing number of residential towers indicates a competitive market for condominium properties. Developments of various configurations and styles, featuring facilities and amenities, continuously emerge in key locations across cities nationwide.   The appeal of condominium living lies in its practical advantages, including accessible payment terms and elevated views. Properties include features like safety and security, reception areas, fire and sprinkler systems, and a property management group. Condominium units also require little maintenance and have built-in provisions for utilities, cable, and internet.  Beyond practicalities, one of the primary functions of a condominium within the real estate industry is convenience. They allow one to live in close proximity to places of work, transport hubs, schools, hospitals, recreation centers, or within central business districts. Condominiums also allow residences to converge in one location, providing accessibility where spaces would have been restricted.  The original market of "young couples" or "yuppies starting out in life" has also shifted into families and retirees looking for convenience, entertainment, and security in fully-administered vertical residences. To meet this diverse need, Vista Manors is set to develop condominium communities across the islands based on demand. Back-to-Back launches across cities Backed by Vista Land, Vista Manors gained traction with back-to-back launches in various cities such as Imus, Roxas, Butuan, Davao, Ozamiz, and provinces including Laguna, Palawan, Bohol, and Leyte. The company contributes to the condominium demand with its resort-themed, vertical villages in key cities nationwide. With 10 locations and counting, buyers may choose a condominium property that suits their lifestyle.  Real estate investment opportunities  Vista Manors goes beyond offering condominium living; it provides real estate investment opportunities. Catering not only to established investors, but also those starting their portfolio, the company extends its reach to Filipinos overseas seeking financial prospects. Through its condominium developments, Vista Manors invites investors to own an asset that appreciates over time. With knowledge of the Filipino buyer and the global property investor market, Vista Manors structures its designs and services based on present market needs. This allows the group to evolve the company, its towers, and services accordingly.  Through the improvement of designs, creation of additional services, enhancement of modern conveniences, identification of accessible locations, and focus on green architecture, Vista Manors educates its markets on what to ask for, while ensuring everything is directed toward meeting residents' dreams and making them real.

  By: Stacked Homes    In the world of mega-developments, the oft-repeated concern is the ‘lack of privacy.’ However, this barely scratches the surface of potential issues. Marketing materials and real estate agents, wary of upsetting developers and sellers, typically avoid delving into these deeper challenges. Yet, it’s crucial to understand that ‘lack of privacy’ is just the tip of the iceberg. Consider the daily realities of living in a high-density condominium. Booking amenities like the gym or BBQ pit can become a logistical nightmare, especially on weekends or holidays when demand peaks. This is just one of the many real concerns you should be aware of before buying into a high-unit-count condo. Let’s explore these issues in detail, providing you with a comprehensive understanding of what to expect: What’s considered a big or mega-development? Mega-development is a term generally used for projects with 1,000 units or more; but practically speaking, projects with close to a 1,000 units (e.g., 900 units) tend to suffer from the same general issues. A “big” project today usually refers to something in the range of 700 to 800+ units.  Here are some issues you’ll often encounter in these projects: 1. Someone, somewhere, is always renovating or moving When there are hundreds of units in a single block, there’s a high chance that – any month of the year – someone is renovating. And when it comes to tenants, odds are someone is always moving in or out. (In case you’re thinking it, yes, this is why some buyers avoid blocks or projects with lots of shoebox units. They expect residents to be mainly tenants, who are moving in and out all the time.) The first issue here is noise. Depending on how the project is built, you may hear the banging and scraping from as high as two levels up, not just from your neigbouring unit. This may be especially annoying if you are working from home, or you have a new born that still has to sleep multiple times a day.       The second issue is the waiting time for the lift. Contractors and movers might monopolise one of the lifts, depending on how much work they have to do. And if there are multiple units being renovated in the same block (or multiple tenants moving in or out), they can end up taking over one of the lifts till the end of the day.  Now some condo projects only have two lifts per block – so if one is blocked off for movers and renovators, there may be hundreds of households all cramming into the one available lift. And just a little reminder: food delivery people, couriers, and the cleaners are using that lift too. So if the condo has a high-unit count, and too few lifts per block, that may be a good reason to pick a lower-floor unit.  2. Some property agents may be hesitant about taking on your listing Most property agents will take your rental or sale listing out of professionalism. But that said, a fair few have admitted an aversion to mega-developments, because of the level of competition involved.  Most buyers these days view listings on property portals. Agents pay a fee to list on the portals, but there are added costs for boosting a listing. Much like online advertising, you pay to have your listing appear at the very top. For small projects, not much boosting is required. If your condo has only 20 units, then chances are your listing is the only one there at the time. But if your condo has 1,000+ units, and at any point in the year there are 40 or 50 listings… well, you can see where we’re going with this.  This gets worse if you’re renting out a unit, as commissions for finding tenants are much lower compared to sales, but it takes almost the same amount of effort and cost.  So while most agents are professional enough to take the job anyway, we wonder if you’ll lose out on the more talented help; or if you’ll find your listing on an agent’s backburner, because of how much more challenging it is. 3. Be ready to rush for the shuttle bus  Hopefully, your project is within walking distance of an MRT station or convenient bus stop. If it’s not, you may have to rely on shuttle bus services; and then you’d best hope the transport provider uses a bigger bus, or has more frequent services. During the morning rush, it’s unlikely that everyone taking the shuttle to Shenton Way, Raffles Place, the nearest MRT station, etc. will fit in at one go; not when there are potentially hundreds of residents who need the service, all at the same time. Just like an overly-packed train, you may have to wait for a second or, in extreme cases, a third time for your transport to come around. We’ve met owners of mega-developments who simply give up and cycle to the train station, or leave extra early to walk there.  4. It’s not just about the pool, it’s also about the pool-related facilities The usual questions when it comes to the pool(s) are “Is it big enough for so many residents?” or “Are there enough pools for such a big condo?” Those are perfectly valid questions to which the answer is yes, because developers are sensitive to it (tennis courts are another issue). But the facilities related to the pool, such as the changing rooms and showers, are often overlooked.  In big or mega-developments, you’ll sometimes find a long line to the showers or changing rooms. Quite often, residents give up and head back upstairs, to their own homes. If this were just a handful of people per block, this isn’t too big a problem. But when there’s a lot of people doing it, there’s practically a parade of toweled, half-dried bodies getting in and out the lift; and leaving a wet trail in the lobby as they do it. This can mean sloshing your way into a wet lift that reeks of chlorine, and is extra slippery to boot.  There’s also the issue of poolside facilities. You need to rush down early on weekends or public holidays, if you want to secure a decent spot with a deckchair and umbrella. There’s enough room in the pool, but there’s rarely enough poolside chairs and ‘brollies. This happens even in mid-sized condos, let alone 1,000+ unit projects.  5. En-bloc problems are a serious concern It’s widely known that the size of bigger projects is tough for collective sales. Developers have a five-year time limit to complete and sell every unit, so bigger condos only see collective sales at the height of developer confidence. But what’s less often discussed is how tough it is to get consensus, when so many households are involved. Part of the reason boutique projects (50 units or less) can go en-bloc so fast isn’t just their land size and cost. It’s because it’s easy to secure consensus from a smaller group of people; and the owners are likely also of the same mindset and demographic. But when you have a big or mega-development, owners hail from a much wider range of demographics, and have a bigger variety of purposes. There are more elderly owners who don’t want to move at their stage in life. There are owners who are currently cash-strapped and would have financing issues. There are landlords who don’t want to pay 20 per cent ABSD for a replacement property, and the occasional foreigner who – if their unit went en-bloc today, would pay 60 per cent ABSD for a replacement unit.  As Mandarin Gardens’ repeated failed en-blocs show, it’s tough to push through a collective sale when so many units are involved; even during a period of en-bloc fever. As such, we wouldn’t ever count on an en-bloc for such big properties; not barring significant rule changes in the future. This isn’t to say all big or mega-developments are bad  These properties have advantages of their own (more lavish facilities, lower costs and maintenance fees, wider landscaped areas, etc.) There’s also no argument that architectural ingenuity and good condo management can mitigate many of the above factors.  Our point is just that “less privacy” is a big understatement, in describing the potential drawbacks; and buyers should carefully weigh the impact on their lifestyle, if they encounter the worst of the above. 

  By: AZ Big Media    Are you thinking about purchasing a luxury condominium? The amenities that are offered can make or break your decision. Nowadays, luxury condo owners are seeking more than just a simple living space. They want luxurious amenities at their doorstep. There are many luxury condos for sale, but not all of them offer the same amenities. Here are five must-have amenities in luxury condos for sale. 1. Spa and Wellness Facilities One of the most essential amenities that luxury condos for sale must have is spa and wellness facilities. These facilities allow residents to take care of their physical and mental health without having to leave their buildings. Imagine having access to a state-of-the-art gym, sauna, steam room, indoor pool, and spa. These facilities are not only convenient but also offer a way to relax and rejuvenate after a long day. 2. 24/7 Concierge Another essential amenity that luxury condos for sale should offer is 24/7 concierge services. Having a dedicated team available around the clock can make a condominium lifestyle for residents easier. From booking reservations at Michelin-starred restaurants to arranging transportation, laundry, and housekeeping services, a 24/7 concierge can handle all of the daily chores that can often be a hassle. 3. Smart Home Technology Smart home technology is quickly becoming a must-have amenity for luxury condo buyers. These systems provide homeowners with complete control over their living spaces, from temperature and lighting to security and entertainment. Smart home technology can also save residents time and energy by automating daily tasks such as turning off lights and locking doors. 4. Private Dining and Entertaining Spaces Luxury condos are often synonymous with high-end entertaining, and private dining and entertaining spaces are a must-have for residents. These spaces can be used for anything from dinner parties to business meetings and are designed to impress. They often come equipped with high-end appliances, top-of-the-line sound systems, and breathtaking views of the city. 5. Dedicated Parking and Storage Many luxury condos are located in busy urban areas, making parking and storage a top concern for residents. A dedicated parking spot and storage unit can offer peace of mind when it comes to the safety and security of personal possessions. Additionally, a resident-only parking garage ensures that parking is always available, even during peak hours. Storage space is also crucial for those living in luxury condos as it offers a place to store belongings without cluttering the living space. Don’t miss out on these exclusive listings here for the ultimate convenience and comfort for luxurious living. Discover the Epitome of Luxury Amenities in Luxury Condos for Sale The must-have amenities in luxury condos for sale play a crucial role in enhancing the overall living experience. From state-of-the-art fitness centers to rooftop pools and private concierge services, these amenities not only offer convenience and comfort but also add value to the property. Don’t miss out on the opportunity to live in the lap of luxury, browse our selection of luxury condos for sale today and make your dream home a reality! 

  By: Mansion Global    Home buyers of a certain income have always had the option of buying a model home and negotiating to include the curated furniture and accessories, but a new trend in many luxury condos today elevates the concept of turnkey homes to a new level. Buyers can purchase a fully furnished condo with custom choices by an interior designer and move in with a toothbrush and their clothes.  “True luxury today is effortless living,” said Ana Gomez, sales director at Cipriani Residences Miami, where 74 of the 397 homes come with the option of purchasing custom furniture in one of two design schemes. “Our buyers have reacted incredibly to this amenity of having a custom, bespoke furniture and accessory collection available upon their arrival.” Whether they’re buying a pied-à-terre for occasional use, a second home, or a primary residence for themselves or their adult children, many luxury buyers prefer the convenience of furniture specifically chosen for their new condo.  There’s also a financial incentive to skip the time-consuming process of searching, buying and waiting for furniture to be delivered in dribs and drabs. While supply-chain issues have eased since their worst in 2021 and 2022, it can still take time to choose and order furniture, forcing homeowners to find other accommodations while they wait for essentials from the bed to the fridge to arrive. In some cases, buyers can even wrap the expense of the furnishings into their mortgage. Turnkey Is Pure Convenience At the Parker, a new condo development in Boston, Linda Zarifi of Zarifi Design, who is responsible for the building’s interiors, also created furniture and accessories specifically for the residences. “The condos have curved windows, and it can be hard for people to visualize how they would furnish them,” said George Sarkis, a real estate agent with Douglas Elliman who represents the building. “The units are also small—the largest is 1,268 square feet—because they’re designed for empty nesters and young professionals who want the location and the building amenities more than space. But that means having the right furniture is important.” The condos in the boutique building are all priced under $3 million, which Sarkis said is “attainable luxury” for the area, where many buildings have units for as much as $10 million. “Many of our buyers are purchasing sight unseen just from a video and are coming to Boston for business, buying for their adult children who will attend school here or are empty nesters with multiple homes,” Sarkis said. “They like the idea of how easy it is for Linda to pick out their furniture, meet the delivery people and have it set up. She’ll even order linens and dishes if people want that so all they have to bring are a few personal belongings.” In some cases, the buyers just want a specific headboard or other piece of furniture because it’s been designed to fit perfectly in the rooms, Sarkis said. “The pieces save space and often include storage, such as a shelf built-in to the bed so you don’t need two nightstands,” he said. Time Means More Than Money At the condo building 547 West 47th Street in Manhattan’s Hell’s Kitchen neighborhood, furnished turnkey condos have been available since early 2022. “It’s mostly pied-à-terre buyers who have purchased the furnished condos, such as a businessman from the Midwest who used to stay at a hotel nearby and loved the idea of owning a furnished place where he could leave clothes between trips,” said Matthew Drennan, a sales director with Corcoran Sunshine Marketing Group who represents 547 West 47th. “But we also had someone who was renting in the city and loved the idea of buying this place without waiting for designers and furniture orders. She could move right in.” Typically, there are eight to 10 furnished models available to view in the more than 200-unit building, Drennan said. As soon as one furnished model sells, they quickly replace it with another furnished unit for immediate availability. READ ON

By: Life The Philippine Star      As you head towards 2024, you may wonder if it’s time to finally have a place you can call your own. Should you buy a condo, get a new house, or renovate your current home? Big life decisions like these can’t be made on a whim. You need the right information. Let’s weigh your options. Buying a condo unit With few houses and lots available in Metro Manila, your best choice is to buy a condo. Opting to purchase your own condo unit in the city is beneficial if your work calls for you to stay late or if you have no plans of migrating any time soon. A condo unit is usually near a commercial business district, accessible to malls, and within walking distance from most offices. Aside from security, condos also usually have amenities like a pool, an events place for parties, and a gym. However, expect to pay a price for all this convenience. Monthly association dues, unit turnover fees, and parking (whether rented or owned) can be expensive. You may want to take note that getting a condo unit at its preselling price can save you more than when buying a ready-for-occupancy unit. If you're buying a condo unit, you should also look into the track record of the developer in property management. You don't want to live in a poorly maintained building 10 years later. Getting a new house Compared to condos, a house is more conducive to raising a family. Being able to renovate and expand your home lets you provide a space for your children to grow, study, and play. On the downside, it can be challenging to look for an available house and lot in Metro Manila. Most of the available and more affordable properties near NCR are already in Rizal, Cavite, Batangas, and Laguna. The same goes for trying to find a home in other urban centers. The only homes available are likely to already be in one of the surrounding provinces. Take this into consideration, especially if you’re not up for a semi-rural kind of life, this might affect your decision to get a new house. On top of this, property maintenance solely becomes your responsibility as the homeowner. Unlike condos that have property managers to care for the building, you will have to take care of all the repairs yourself. Renovating your home If your home is a place of beautiful memories you would like to treasure for a long time, you can opt to renovate the place instead of purchasing a condo unit or buying a new house. Doing this means you won’t have to change your lifestyle very much. You can stay in touch with your friends and neighbors, take the same routes to and from work, eat at your usual spots, and shop at the same stores. Still, take the costs into consideration. If your home is already in a worn-down state, you have to weigh whether the structure can still be fixed or should be completely torn down as construction costs can also be quite expensive. The big decision So should you buy a condo, get a new house, or renovate your current home? The answer really depends on your personal preferences, circumstances, and capabilities. Most plans will also require bank financing, so you’ll need to apply for a bank loan that makes your plan affordable for you. Whichever you decide, make sure to look for a reliable bank that will help you with the financing. BDO Home Loan currently offers waived fees of up to ₱25,000 when you apply online until Dec. 31, 2023. Apart from saving on fees, BDO Home Loan provides low-interest rates and an extended loan term. Through BDO Home Loan, borrowers can buy a house and lot, a condo, or a townhouse. It also allows clients to buy a vacant lot and even construct or renovate a home.

  By: AZ Big Media    Are you weighing the pros and cons of living in a condo versus an apartment? The choice can be challenging, especially when your lifestyle hangs in the balance. Below, we will provide a clear comparison between the two. Don’t get caught in the crossfire of opinions – get informed and make the best decision for your living conditions. Stick around and know more about condo vs apartment pros and cons! Ownership vs. Rental One key difference between a condo and an apartment is the concept of ownership. When you buy a condo, it’s like buying a house. You own it. With an apartment, you’re only renting a space. You pay every month, but you don’t own it. This might not seem like a big deal, but it can change a lot of things. For instance, owning a condo means you’re responsible for maintenance and repairs. But if something breaks in your apartment, you can usually just call your landlord to fix it. So, keep lifestyle considerations in mind. Do you want to be in charge and own your place? Or do you prefer someone else to take care of the problems while you just enjoy living there? Cost Considerations Cost is a major factor when it comes to apartment living advantages and disadvantages. Generally, buying a condo is more expensive upfront because you’re purchasing the property. However, you might save money in the long run because you aren’t paying rent each month. On the other hand, apartments usually have lower upfront costs. You typically need to pay the first and last month’s rent and a security deposit. But, remember, the rent you pay each month doesn’t go towards owning the property. Plus, the rent might increase each year. So, make sure to think about your budget and financial goals when deciding between a condo or an apartment. Space and Privacy Space and privacy are other factors to consider when choosing between a condo and an apartment. Condos usually offer more space than apartments, which can be a big plus if you have a large family or lots of stuff. But more space also means more to clean and maintain. On the privacy side, condos often have fewer units per building than apartments. This could mean fewer neighbors and less noise. But remember, living in a condo also means you have to follow the rules set by the condo association, which can limit what you can do with your own space. Apartments, while typically smaller, might offer more freedom. So, think about what’s more important to you: more space and potentially more peace, or less upkeep and more flexibility. Maintenance Responsibilities Let’s talk about maintenance duties. When you own a condo, you’re the boss. If something stops working or breaks, it’s up to you to fix it or find someone who can. This can take time and can be costly. But on the bright side, you have total control over repairs. You can decide who fixes your stuff and when. Apartments, however, are different. If something breaks, you just let your landlord know. They’re responsible for getting it fixed. So, you don’t have to worry about finding a repair person or paying for the fix. But, you may have to wait for your landlord to take care of it. So, think about what you’d prefer. Do you want total control with more responsibility or would you rather have fewer duties, but less control? Remember, there’s no right or wrong choice here – it’s all about what works best for you. Amenities and Community Amenities and community vibes are other aspects to think about when making your decision. Condos often come with perks like gyms, pools, and other shared facilities. Plus, as a condo owner, you have a say in how these shared spaces are managed. On the flip side, apartments also offer amenities, but you might not have as much control over them. You could have access to a gym, pool, and maybe even a game room. But the management makes all the decisions. As for the community, condos can offer a strong sense of neighborhood spirit. You may have more opportunities to get to know your neighbors and participate in community events. Apartments can also have a sense of community, but it can vary greatly from building to building. This can also be the case in communities that have custom town homes.  So, consider what’s more important to you. Is it having high-quality amenities and a strong community, or is it having a say in how shared spaces are used? Understanding your preferences will help you make a well-informed decision. Resale Value If you buy a condo, you can sell it later. It’s like owning any property, and its value might go up over time. This means you could earn money if you decide to sell. But remember, the real estate market can be unpredictable. So, there’s also a risk that your condo could lose value. When it comes to apartments, you don’t have the same option. As a renter, you can’t sell your apartment or make money from it. So, if you’re thinking long-term and considering the potential for a return on your investment, a condo might be the better choice. But, if you’re more interested in flexibility and avoiding the risks of the property market, then renting an apartment could be just what you need. Flexibility and Commitment Choosing between a condo and an apartment can also boil down to your commitment level and need for flexibility. Owning a condo is a long-term commitment, practically like owning a house. Selling it isn’t as easy as breaking a lease, and it can take time. So, if you foresee big life changes, like relocating for a job or expanding your family, a condo might not be the best choice. Apartments, on the other hand, offer more flexibility. Leases typically last for a year, and after that, you can move on short notice. So, if the freedom to move is important to you, renting an apartment could be more suitable. Condo vs. Apartment Pros and Cons: Know the Difference Weighing the “condo vs apartment pros and cons” is crucial to choosing what suits you best. Your decision should consider the factors we mentioned above. Remember, each option has its unique advantages. Choose wisely, and enjoy your perfect home! If you enjoyed this article and the information it contains, check out the other helpful blogs on our website!

Sourced By: AZ Big Media  Known as one of the country’s leading developers of Net Zero communities, MODUS Companies, has completed its latest project in the highly sought after Arcadia community of Phoenix, called Arcadia Views Lofts (located at 2640 N 52nd Street, Phoenix, AZ 85008). Built in partnership with Kinella Construction and HercuTech, the manufacturer of HercuWall® (a patented “green” wall building system that is not only mold, insect and fire resistant but also hurricane rated), this will be the first-ever Net Zero Energy multifamily project in Phoenix.  “By partnering with Kinella and HercuWall for this development, we have been able to provide not only a structure that’s safer than using traditional lumber, but it also cuts down on the utilization of natural resources, lowers our carbon footprint and offers cost-savings in the form of utility bills being a third of the normal price,” said Founder of MODUS Companies Ed Gorman.   After partnering with Kinella Construction and HercuTech on this project, MODUS’ Gorman coined their partnership as “The Tesla of Built-to-Rent.”  The HercuWall® building system alone (which is made from EPS foam, reinforced with a patented steel ShearStrip, laminated with a weather-resistant barrier, and followed by site integrated concrete) provides superior strength, durability and safety for homeowners compared to traditional wood build outs. HercuWall also results in a more sustainable, highly energy efficient home. Because of this, Arcadia Views will save over 8,000kg of carbon emissions annually and will save its residents over $3,500 in energy bills year after year.  “We are extremely proud of this project and honored to partner with MODUS and Kinella. This team has the vision, commitment, and passion for offering sustainable, eco-conscious housing in the multifamily space,” said HercuTech CEO Jason Rhees. “To be among the first in the area to offer this is not only a major win for us but also for the residents, who will recognize measurable cost-savings, healthier air quality, and a quieter living experience, all in a stronger and more environmentally efficient community. As energy costs increase every year - especially for those of us living in America's hottest big city - we believe everyone should expect this quality of residential construction that the HercuWall system maintains.” Designed with a single-family feel and multifamily amenities, the two floor plan options offered at Arcadia View Lofts are a two-bedroom loft in a two-story building and a one-bedroom in a one-story building. Conveniently located just south of the Biltmore and Arcadia neighborhoods, and blocks from Scottsdale, Arcadia Views Lofts is in an ideal, centrally located area within greater Phoenix. In addition to being Net Zero Energy and using HercuWall® technology, the property will also feature solar panels, Energy Star appliances, Nest thermostats, advanced home automation, a community pool/spa and ramada, and each unit has its own back yard with pet door.  For more information on the Arcadia Views Lofts and other upcoming projects from MODUS Development, visit www.moduscompanies.com or call 602.421.2221.  To learn more about Arcadia Views, visit www.ArcadiaViews.com.

  By: Scottsdale Independent    To date, 66 condos statewide have surpassed the $3 million mark, and Silverleaf Realty, the driving force behind ICON at Silverleaf, 18801 N. Thompson Peak Parkway, has claimed the top five spots with sales ranging from $6.9 million to $8.35 million. Since, April, Silverleaf Realty closed eight units totaling $23.74 million in real estate transactions, and it achieved the majority of ICON at Silverleaf sales in under two years. Silverleaf Realty is set to release the final building in the ICON at Silverleaf development this month. Visit iconatsilverleaf.com.

  By: Surprise Independent    Mark-Taylor Residential, in collaboration with Sunstone Two Tree, introduced Sierra Verde, a new development featuring build-to-rent townhomes in Surprise. Located at 15240 N. 142nd Ave., Sierra Verde offers two- and three-bedroom homes with attached garages. These rental homes average 1,331 square feet and feature modern touches and first-class amenities. “Sierra Verde is satisfying the desire that many of today’s renters have for upscale, maintenance-free living," said Andrew Podore, Mark-Taylor's managing director of multifamily investments. “Complemented by nearby access to reputable schools, prominent employers, and an array of shopping and dining options, our signature 5-star resident experience creates an undeniable feeling of home.” The community’s interiors include shaker-style cabinets, a kitchen island, gated micro-patio entry and smart home technology. Sierra Verde also has a variety of community extras like a swimming pool and spa, outdoor playground and fitness center. Visit mark-taylor.com/apartments/az/surprise/sierra-verde/#/.

  By: Redfin Blog    Renting out a condo is a rewarding venture that can offset your ownership costs and provide a steady stream of revenue. However, it’s not just about finding a tenant and handing over the keys. To make the most of this opportunity, you need to navigate a range of considerations, from understanding condo association rules to marketing your property effectively.  In this Redfin article, we’ll take you through the ins and outs of renting a condo, equipping you with the knowledge and strategies you need to become a successful landlord. Whether you want to rent out your condo in Chicago, Tallahassee, or just like to learn more, read on to discover the keys to condo rental success. What you need to know before renting out a condo Before renting out a condo, there are several crucial factors to consider. First and foremost, familiarize yourself with the rules and regulations of the condo association or homeowners’ association (HOA) governing your property, as they may have specific requirements or restrictions related to renting out units. Additionally, assess your financial readiness for this endeavor, including budgeting for potential maintenance and repairs. Lastly, consider your area’s market conditions and rental rates to set a competitive rental price that attracts suitable tenants while covering your costs. Being well-prepared and informed about HOA restrictions will help you navigate the condo rental process successfully and avoid potential pitfalls. Five essential steps for renting out a condo 1. Understand the HOA restrictions Understanding whether your condo permits rentals is crucial in the decision-making process when contemplating renting your condo. HOAs have rules and regulations, some of which may restrict or even prohibit rentals altogether. It’s important to know these restrictions ahead of time, as they can affect how easily you can rent out your property and the rental income you can earn. Violating your HOA rules can lead to legal consequences and disputes with your condo association, potentially resulting in fines or even the revocation of your right to rent the unit. 2. Research local laws and ordinances Different municipalities often have specific regulations about rental properties, covering aspects such as tenant rights, property inspections, licensing, and safety requirements. Ignoring or overlooking these legal obligations can lead to legal trouble, fines, or eviction orders. By adhering to local laws, you’ll ensure you’re operating within bounds of the law, while also building a trustworthy and clear rental relationship with your tenants.. This due diligence helps protect your investment, minimizes potential disputes, and fosters a  3. Make sure you have the correct homeowners insurance  When renting out your condo, safeguarding your property and protecting yourself from potential liabilities is paramount. Opting for the right insurance coverage is a crucial step in this process. Traditional homeowner’s insurance may not cover damages or incidents that arise from having a tenant. Therefore, it’s essential to explore landlord-specific insurance policies that cater to rental properties. These policies not only protect the physical structure of the condo but also provide coverage for potential lost rental income and legal fees if a dispute arises. 4. Hire a real estate lawyer Real estate transactions often involve complex legal contracts, such as lease agreements, and can vary significantly depending on local laws and regulations. An experienced lawyer can review, draft, or customize legal documents to ensure they are compliant with local laws, protect your interests, and address potential issues that may arise during the rental period. 5. Prepare your property to rent When preparing your condo for rent, thorough preparation is key to attracting quality tenants and ensuring a successful rental experience. Start by thoroughly cleaning and decluttering the space, making necessary repairs, and ensuring all appliances and systems are in working order. A fresh coat of paint and minor upgrades can also enhance its appeal. Consider staging the condo to showcase its potential and create a welcoming atmosphere. Set a competitive rental price based on market research and create a detailed and honest property description highlighting its features and amenities. Finally, establish a plan for property maintenance and emergencies and be ready to respond promptly to inquiries and schedule viewings. READ ON

Sourced By: Storeys Custom Studio  At a time when applications for new builds are seemingly endless, not all condo amenities are created equal. The common denominator is convenience: amenities should remove the requirement for residents to leave the building for everyday routines and rhythms. But, as life evolves, so do the types of amenities today’s (and tomorrow’s) condo dwellers really want — and need. To analyze the rise and fall of amenities in new builds, Spark Real Estate Technologies— a Vancouver-based company that specializes in new development sales and marketing software — surveyed a panel of industry experts based on what they were seeing in the market. The panel ranked each condo amenity in terms of homeowner desirability in 2023, and assessed whether that ranking is on the rise, unchanged, or sinking. The results were then reviewed, consolidated, and curated into the rankings shown below. With backgrounds in everything from urban planning to media to real estate software sales, this expert panel includes Naama Blonder (Urban Planner, Smart Density); Laura Hanrahan (Deputy Editor, Storeys Publishing); Jessica Radziszewska (Vice President of Sales, Spark); Riel Sammy (Strategic Director, Channel 13 Advertising & Design Inc.); and Sally Turner (Director of Consulting, Urbanation). In the findings there were several surprises, some signs of the times, and more than a few no-brainers. Here’s what’s hot – and what’s not – when it comes to today’s condo amenities: 1. Rooftop and Green Space |     Access to quality green space took on a whole new meaning during the pandemic. With cities rapidly increasing in density, and urban parkland limited, new condo developments have increased their outdoor amenity program in recent years, as fresh air went from nice-to-have to essential. This is especially true at a time when more young families are living in condos, with more new builds including playgrounds. “Well-programmed outdoor space on a patio or courtyard is essential in a building with efficiently-sized suites,” says Turner. “But the outdoor patio of today should include a variety of group seating options, and consider including a pizza oven, well maintained natural landscape boxes, and where possible, outdoor game areas.” 2. Exercise Room |     Whether or not they’re utilized as often as one would hope, the demand for exercise rooms and gyms in condos isn’t going to waver any time soon. “Exercise rooms are a must-have, but should be designed with ample natural light and a variety of machines that could reasonably replace a gym membership,” says Turner. “Society has enjoyed going back into group fitness settings and will pay premiums for elite gyms, classes and training in reaction to a sense of losing it for so long.” 3. Meeting/Party Rooms |   While they may have been celebrated as perks decades ago, offerings like meeting rooms and party rooms are now considered a given – but are still important. “I think there are some amenities that every buyer would expect, or heavily desire, their building to have — things like a gym, pool, party room, and rooftop,” says Hanrahan. In fact, shared spaces meant for gatherings and celebrations could be even moreimportant in present day, as the number of young families living in condos is on the rise. Where better to host a birthday than a space dedicated to parties? READ ON

Sourced By: KTAR News  PHOENIX — A new sustainable community in the Phoenix neighborhood of Arcadia recently welcomed its first residents. Willow 38, a MEB Management Services townhome community, is located at 40th Street and Indian School Road. The community offers three unique floor plans to choose from that total over 2,000 square feet each, with 3-4 bedrooms and 2.5 bathrooms, the company said in a press release. Additionally, residents have the ability to secure touchless door locks, control the thermostat and stoves, view the Ring doorbell camera and detects leaks, all from their smartphones, the release said. Each garage has also been prewired to have individual EV charger capabilities. Residents also have access to a range of amenities, including a sun deck, hot tub, BBQ grills, a dog park, fenced backyards and 10-foot ceilings. “There is a growing need for larger townhomes with eco-friendly finishes in Phoenix,” Nicole Mease, asset director of MEB Management Services, said in a press release. “With more residents desiring sustainability along with top-of-the-line details and expansive space, Willow 38 will not only meet the needs of its residents but encourage more multifamily communities across the Valley to offer the same.” Other notable amenities include proximity to the Biltmore Fashion Park, Scottsdale Fashion Square and Camelback Mountain’s Echo Canyon hiking trail.

Sourced By: RBN Realty Biz News  Before buying a condo, it's crucial to ask the right questions. Understand your ownership rights and the reserve fund's financial status. Familiarize yourself with the condo's rules and potential pet restrictions. Look into the association's management and HOA fees, and inquire about any pending litigation. Upcoming HOA special assessments and resale potential should also be considered, as well as factors like parking, storage, insurance coverage, amenities, builder reputation, and community livability. Seek consultation from real estate agents or attorneys to guide you through the purchase process. Let's look at the questions to ask before buying a condo. These considerations should be explored before making a decision. Understanding Condo Ownership Before buying a condo, you must understand what you own and its financial aspects. Here are two critical considerations: What Exactly Do I Own? When purchasing a condo, you buy an individual unit within a larger building or community. Knowing your unit's boundaries and what is considered joint property is essential. Are you responsible for maintaining and repairing certain areas, such as plumbing or the roof? Understanding your ownership rights and responsibilities will help you make informed decisions. How Much Money is in the Reserve Fund? The reserve fund is a crucial factor to consider before buying a condo. It is a pool of money set aside for future repairs and maintenance of the common areas within the condo community. Knowing the reserve fund's current balance is essential as it indicates the association's financial health. A well-funded reserve fund ensures sufficient funds to address unexpected repairs or replacements without burdening the unit owners with additional costs. READ ON

Sourced By: The Star  Setting up Feng Shui for apartments can be both easy and challenging due to the limited options in an apartment or condominium setting. Unlike houses, where renovations are more feasible, apartments often come with constraints in changing layouts. There is a limit to what we can do. However, with the increasing popularity of apartment living, it’s essential to consider Feng Shui principles to create a harmonious environment. Here are some tips to set up great Feng Shui for your apartment: Apartment Logic #1: The Front Door While many Feng Shui practices focus on the landform outside the front door, apartments and high-rise condos face unique challenges as their doors open to corridors. Despite this, the front door remains extremely important as the ingress and egress point of the unit. It significantly influences the flow of energy (Qi) into your home. At the most basic, it’s best not to have two opposite units’ doors directly facing each other. This arrangement can lead to unstable Qi and potential conflicts between neighbours. Similarly, we try to avoid apartment units where the bedroom doors are directly facing each other. This will impact the harmony between the occupants of the two bedrooms. It’s best to look for units where your front door does not face the opposite unit’s door as this can lead to unstable Qi and potential conflicts between neighbours. READ ON

By: Scottsdale Independent  Electrical contractor Canyon State Electric is beginning construction on the Portico luxury condominiums in north Scottsdale, northeast of Scottsdale Road and the 101 Loop. The project broke ground in May and is estimated to be completed in June 2024, according to a press release. Portico features 112 homes across nine five-story buildings, with units priced from $900,000 to $2 million. Each unit offers up to 2,768 square feet of indoor living space along with private terraces and amenities such as an upscale clubhouse, outdoor pool and state-of-the-art fitness center. The Portico development has been named the 2023 Multi-Family Project of the Year by Phoenix Agents, according to the release. “We’re looking forward to working on such a prestigious project,” said Canyon State Electric’s President Robert Hughes. “With our team’s attention to detail and high-quality craftsmanship, CSE is the perfect fit to serve this clientele base.” Chicago-based general contractor Maris Construction is leading the project for real estate developer Belgravia Group. “It’s been a pleasure working with CSE’s pre-construction team and now the PM and field staff,” Doug Hansen, project manager for Maris Construction, said in the release. Canyon State Electric has completed a wide variety of projects throughout Phoenix since 1978, including industrial facilities, high-end resorts and schools.  

Sourced By: AZ Big Media  Creating a comfortable living space as a condo owner can be a daunting task. But if you’re eager enough to transform your space, it’s something that’s worth investing in. Let’s take a look at some simple tips and tricks you can use to make decorating your luxury condo a breeze. 1. Understand Basic Interior Design Principles You don’t need to be a professional interior designer to decorate your luxury condo. You do, however, need to understand some of the basic principles so that you make smart choices. Every interior designer with professional education knows that there are several key principles of interior design. These include balance, rhythm, harmony, proportion, and scale. Take some time to familiarize yourself with each of these. For example, once you understand the basics of rhythm and how repetition and contrast are used to spark visual interest, you’ll think differently about design choices.  2. Understand Your Space The next step is to understand the space you’re working with. Your condo has unique attributes, architectural features, opportunities, and limitations. Take inventory of the overall layout and look. Think through how different areas flow into one another, as well as any integral features like exposed brick walls, hardwood floors, unique ceilings or windows, etc. It’s also necessary to carefully measure your space. Precise measurements will ensure you make wise choices when it comes to selecting furniture and other design elements. (The last thing you want is to have your proportions wrong, which can lead to an awkward or cramped flow.) Good interior design begins at the intersection of interior design principles and the individual characteristics of your space. Once you identify both, you’re able to really lean into a creative design.  For example, if you own a Bristol Palm Beach condo, you’ll want to lean into the sleek, modern, minimalistic feel that the condo architects and designers intended for the space. This means luxurious finishes, clean lines, and neutral color palettes. On the contrary, if you’re in an urban condo in Indianapolis that’s built in a renovated warehouse, your design might have more earthy and industrial elements.   3. Identify Your Color Palette Color is one of the most powerful tools you have in your design toolbox. The colors you select for furniture, walls, and other accessories will dramatically impact the mood and perception of the spaces. Think carefully about color before moving too far along. When choosing a color palette, consider the overall style and atmosphere you want to create. Do you prefer a modern, minimalist look with stark whites and cool grays? Or a warm, inviting space with earth tones and soft neutrals? Maybe you're drawn to the bold and glamorous appeal of jewel tones? Each of these factors is significant. In addition to color, things like textures, materials, and patterns are significant. Even within the same neutral color palette, having different textures can break up the visual appearance and prevent your condo from feeling monotonous or repetitive.  4. Select the Right Furniture Having the right furniture in your condo can really set the overall design apart and give it a luxurious feel (rather than a cookie-cutter, IKEA vibe). When shopping for furniture, think through the details. Luxury furniture is clearly distinguishable by the superior craftsmanship, feel, and details. Buy pieces that will last – not something that’s cheap and accessible.  If you really want to take things to another level, consult with local craftsmen and furniture builders who can create unique pieces to fit your space.  5. Get the Lighting Right Lighting is one of the most important (and overlooked) elements in luxury design. Ignore it at your own risk. Use it to amplify the look and feel of your condo. There are three types of lighting to consider: ambient, task, and accent. Ambient lighting provides general illumination for a room, task lighting is used for specific activities like reading or cooking, and accent lighting is used to highlight specific features or decor items. Your luxury condo should ideally incorporate a blend of all three. Avoid harsh, white lighting that makes your condo look like a science lab or surgical ward. Opt for warm, soft lighting that creates a cozy and welcoming vibe. Put lights on dimmer switches to give yourself the flexibility to adjust lighting based on the needs of the moment. Design Your Dream Condo It’s your condo – make sure you get a design that makes you feel at home. Using these tips, you can rethink your approach to luxury condo design and develop a space where you want to spend more time. Ready, set, go!

Sourced By: Bankrate  More than 74 million Americans live in community associations, according to the Foundation for Community Association Research, with a total of about 358,000 associations nationwide. Two of the most common types are condo associations and housing cooperatives, or co-ops. The main difference between the two lies in their ownership structures. Condo vs. co-op: What’s the difference? Both condos and co-ops are similar in that residents live in separate units with shared common areas, such as a pool, recreation center or playground. However, each has a different method of ownership. When you buy a condo, you own the unit itself and a percentage of the common areas. When you buy a co-op, though, you’re actually purchasing a share of the overall property, and your share gives you the right to live in your designated unit. Think of co-ops the same way you might think about investing in the stock market: You’re a shareholder, so you have certain rights and a say in how the co-op is run. Here are some other primary differences between a condo and a co-op: 1. Price A co-op is often cheaper than a condo, according to the National Association of Housing Cooperatives (NAHC). However, the down payment for a co-op can be high. While condo owners can take advantage of lower–down payment mortgages, such as a 3 percent conventional loan, most co-ops require a down payment of at least 10 to 20 percent, according to the NAHC. In some cases, that requirement can be significantly higher, too. In Manhattan, for example, it’s not uncommon to see a 50 percent down payment requirement for co-ops. There’s another trade-off, though: Closing costs for a co-op are likely to be lower than the final expenses on a condo, as you won’t need to pay for some fees, like title insurance. If you have plenty of upfront cash to buy a home, the lower price of a co-op can be appealing. If you’re in need of a mortgage, though, a condo might be a better move. Mortgage lenders are typically more likely to issue loans for a condo than a co-op. That’s because if a borrower defaults on a condo loan, the lender has real property to deal with rather than shares, which can be harder to sell. 2. Fees Co-op fees tend to be higher than condo fees because co-ops roll all the monthly expenses into one bill (often called the “maintenance”), including gas, water and property tax. For example, if a co-op shareholder owns 2 percent of the property, they will pay 2 percent of the electric bill. For residents who travel a lot or might not use that much electricity each month, this model could be a waste of money. On the other hand, it might be convenient for those who prefer the simplicity of one monthly bill. Condo owners pay their utilities and tax bills on their own, so those costs are not reflected in the monthly fees. “When [co-op] buyers see these enormous fees, they put on the brakes and say, ‘No way on the planet am I paying that much money’ — but they will probably spend that much in a condo,” says Leslie White, a Redfin agent in the Washington, D.C. area. “My advice is to break down the costs and do a side-by-side comparison to get an accurate picture of what you will pay each month.” READ ON