Condominiums are slowly becoming the best investment opportunities in the current world. Due to the upsurge in population growth all around the globe, there is a dire need for extensive housing facilities to cater for the growing population. The 75 Esplanade Condo form a good and viable investment in the highly populated areas because it contains many housing units under a small area. This will ensure it houses many families at the same place compared to when they could occupy single units.
Advantages of buying a condo rather than a single unit
It Is a Viable Investment
Real estate is no doubt one of the best-paying investments that create good profits. Investing in Condominiums, therefore, will guarantee substantial profit margins compared to when investing in single units.
Condominiums will house a good number of tenants translating to more profit than when having a single housing unit which earns less amount of income.
Condos Will Attract Good Infrastructure and Development
The government and other institutions will take development to a place with many people and activity rather a place with fewer people. Buying a condo, therefore, will keep you assured that the place would attract good infrastructures like roads, hospitals and other amenities that will add value to the condos.
When these amenities have been brought closer to the people in the condos, it will make the condos valuable, and the price will go through the roof. This is a great advantage of the condo over single units.
Tax and Mortgage Advancement Advantage
Paying tax and land rates for a condominium is more profitable than paying for a single unit. Tax rates for a condo and a single unit will have no much difference, yet a condo is more profitable than a single unit.
Financial institutions will be more comfortable offering a mortgage to a condo owner rather than a single unit owner. This is because the profit margins are higher in condominiums and therefore are advanced a greater amount of loans than a single unit owner.
Condo Give Sense of Financial Security
Owning a condo over a single unit is seen by many finance analysts as a comfortable way to have a preferred financial security. A condo is more equitable than a single unit forcing many finance institutions to prefer condo owners than single-unit owners. In the case of a dire financial need, a condo will attract a better price than a single unit.
Despite various setbacks that are owning a condo comes with, buying a condo over a single unit is more advantageous regarding management, financial well-being, and even mortgage advancements. It is more profitable to buy a condo than a single unit.