Condominiums, or condos, are a building or a complex of buildings with a number of individually owned apartments with a shared common area. This means you own your apartment; however, the yard, swimming pool and other areas of common interest are possessed jointly by multiple people living in that area. Condominiums can be residential, like an apartment – type building where residents share the gym, staircases, and other common facilities with ownership of their houses or they can be industrial, such as malls where the owners share elevators and toilets.
How Is a Villa Different from a Condominium?
Villas are detached housing units with private land surrounding it. A villa may have its own garden, swimming pool, and other luxurious amenities. It houses a single family and is usually located in secluded areas – often away from the heart of the city.
While all the families (or the management) in a Condominium are responsible for the welfare of their shared pool, gardens and the like, only the family that owns the villa is responsible for the welfare of its assets.
What Are the Advantages of Living in a Condominium?
Financial Advantage
Condos cost lesser than a villa. Also, they have a lower maintenance cost. Apart from this, condos are excellent investments. One can rent out their condo and get the average money paid for an apartment. The advantage of mortgaging the condo is something every owner must consider.
Less to Worry About
Be it a broken elevator, a clogged pool or wild lawns, there is less to stress over with a condominium. For a small fee, the management usually takes care of all the outdoor repairs and maintenance. This leaves you free to spend your Sundays lavishly and not worry about picking weed off the garden or shelling a hefty sum on gardeners.
Fostering a healthy community
As compared to a villa or a traditional home, condominiums usually boast a close-knit community. While taking the trash out or getting the mail, you are bound to meet your neighbour and engage in a conversation. This gives birth to new friendships and trustworthy relations between the occupants of the building.
Security
While you have a number of neighbours around who’d get automatically suspicious if strange men lurk around the building or try to break into your condo, your abode is a lot safer nestled in a condo building than out there miles from the city in a luxurious place which is too big to be handled by a single person.
Adarsh Developers have redefined sophisticated living with their project on outer ring road, the Adarsh Palm Retreat Condominiums, spanning 2000 condos full of style and comfort. If you are looking for an iconic style of living in the city of Bengaluru, call +91 80 2504 1700 to make an enquiry.
