Narrowing Down Your Search: The Types of Condos You Can Invest In
There is a wide range of options available for those who are looking to buy a condominium. Each has its own unique features, which leads many buyers to thoroughly consider their needs so they can choose the right one for them.
Condo prices vary depending on the building’s location, floor area, and the unit type. Some desire a condo with a dedicated work area or nook, while others want a balcony view from their bedroom. It’s easy to fall in love with a condo that’s aesthetically pleasing, but it’s always best to go beyond and think about whether or not it meets one’s needs. Buyers can narrow down their choices based on what would best benefit their lifestyle – now and in the future.
Here are the 5 common types of condos and their characteristics:
Studio units are the best option for condo buyers on a budget. However, its limited space could be a disadvantage. Studios come with an open floor layout, which means that its areas – bathroom, living room, kitchen, and bedroom – are all integrated into one space. Studio units are a common choice among or single dwellers looking for a place near their workplace or young couples who are looking for a temporary home before moving into a larger unit.
1-, 2-, or 3-Bedroom
Bedroom units are the most recommended type for families who want a private residence in the city. Though the prices of these condos vary, these unit types ensure its residents of a more flexible space for maximum comfort. Most 1-bedroom units come with a quaint living area and dining area enough for hosting get-togethers. Meanwhile, 2 to 3-bedroom units typically feature more than one bathroom, a larger kitchen, and a living area that extends to a balcony.
Residential towers with high ceilings often offer loft-type units. Essentially, loft-type units are studio-types fitted with an elevated bedroom that can be accessed through a staircase. Lofts are perfect for condo buyers who enjoy a more open and spacious surrounding, especially when they sleep, though this set-up could become a challenge for air-conditioning.
Lofts are perfect for many types of condo buyers; friends who are co-living, single dwellers, or couples could benefit from its unique set-up. But this kind of home isn’t recommended for those with kids, senior citizens, or those with difficulty climbing stairs.
Bi-level units have a similar layout with a two-storey house, except that it is built within a condo building. Unlike loft-types, bi-level units do not have an open second level – it has an entire second floor. Normally, the design of this type of condo would have the living room, dining area, kitchen, and one bathroom in the ground level so that the bedrooms are privately located on the second floor.
Penthouse units are located on the uppermost floor of a condo building and are the most expensive. They guarantee exclusivity and privacy, which is why it’s sought-out type of condo. Their floor area is vast, and layouts in penthouse units can be customized. It’s so prestigious hat some residential towers even provide exclusive elevators to its penthouse units. Some units have in-room jacuzzis and private lanais. There are those with additional amenities like a game room and cinema.
Each type of condominium comes with its share of advantages as well as disadvantages, but enough research will help buyers identify which type of condo is best suited for them.