Condominium or House? Part 1
With the increasing number of projects ranging from high rise buildings to housing properties developing in the country, it can be difficult to choose the type of residence suited for your lifestyle. Whether you are a single person, a young couple, a growing family with kids, or a retired couple, selecting the right residence is a without a doubt, a life changing decision.
As widely known, high rise residences such as condominium, is a kind of housing tenure in which specified parts of the real estate are individually owned. Common areas, including the land, are jointly owned by all unit owners in the condominium. In addition, unit owners are usually given a strata-title instead of the typical hard title. On the other hand, housing properties come in various forms, such as townhouse, terrace and bungalow. Owners are usually handed the hard title to the property and the land is theirs to own.
Hence, the question to ask is which to choose? Bear with us as we break down for you the pros and cons between the two in Part 1 of this much debated discussion.
Location and Accessibility
It is worth noting that a wide range of condominium projects in Cambodia are commonly situated within pivotal districts such as Boeng Keng Kang, Boeung Kak, and Chroy Changvar. These projects are usually located within the vicinity of the city’s central business district, surrounded by restaurants, shopping malls and tourist attractions. Hence, for people who are always on the go, staying at a condominium means lesser time spent commuting back and forth to the city.
As opposed to living in a condominium, due to the limited land available for development in the city, it is extremely strenuous to find a house well-situated in the city. Even if there are houses available for sale, the cost to owning one will definitely put a dent to your savings. Moreover, houses tend to be located in the outskirts of the city and commuting to just anywhere can be a major daily hassle.
Facilities and Amenities
In this aspect, given the fact that condominiums these days offer more than 20 different lifestyle facilities and amenities, this effectively ensures that you have a completely enriched way of life not just for yourself but for your family as well. From swimming pools, gyms, social clubhouse, landscaped gardens, co-working labs, juice bars and saunas, there is a facility for everyone in the family.
However, if you are living in a house, do expect very limited facilities in the neighborhood such as the conventional kid’s playground and swimming pool. More often than not, most housing projects do not offer any sort of facilities and this indirectly means that you will have to fork out extra money for any sort of entertainment that you and your family wish to enjoy.
Community Lifestyle
Condominiums, especially premium ones, are usually composed of working professionals comprising of multinationals with the same exquisite standards of living, co-existing together in a community, which is ultimately cultivated by them. Given the fact that residents staying at the condominiums commonly share the same sentiments, the condominium is the undeniably, the community they can call their own. Making friends at the condominium is relatively simple as common areas allows social interaction to naturally take place. You’ll always find a friendly face at the playground or at the pool, plus, having kids is a guaranteed conversation starter. For newly arrived foreigners, having a community to belong to in foreign country can very much ease the settling in period.
Housing properties on the other hand, are on the other end of the spectrum, as neighbors do not share any common areas, thus making it almost impossible for any sort of community living to take place. Owners usually reside in their house by themselves and this indirectly deprives them of social interaction with others. Commonly, people who enjoy a lot of privacy and space for themselves will opt for housing properties.
Maintenance and Convenience
Maintaining your property can be tedious if you are always on the move, however living in the condominium will mean that maintaining your property will no longer be your problem. Instead, this duty falls on the developer to maintain the condominium, such as fixing any electricity issues, handling the water pipes system and ensuring that all greenery are well maintained.
However, when you live in a house, you will have to do all of the maintaining from the most trivial matter to the most major issues. It can be from fixing the roof when its leaking to ensuring the grass is periodically cut and to ensuring that the piping in the house is well looked after.
Evidently, there are advantages and disadvantages to both types of housing, hence your lifestyle and budget can help ascertain whether a condominium or a house is a more befitting choice for your needs. On that note, the Peninsula Private Residences is an award-winning lifestyle condominium project situated in the fast developing Chroy Changvar district in Phnom Penh. Winner of the Property Guru Asia Property Awards 2019 for Best Condo Architectural Design and Best Condo Interior-Design, the project is targeted towards people that care about quality living and comfort.
If you are looking to own an affordable boutique living or an investment with solid returns, come to the sales gallery and learn about The Peninsula Private Residences today. You can contact The Peninsula Private Residences at 017 222 760 to schedule an appointment or find us on Facebook, The Peninsula Private Residences Facebook page.