For the longest time, the ‘face’ of condominiums has been the young folks, college students getting the hang of university life, professionals who are working hard to get to the top of the corporate ladder, and newlyweds starting their families. But as the pandemic changed things up, a new norm is brewing in condominiums.
Speaking as part of the panelists in the recently concluded Lamudi roundtable discussion, Rouen Raz, Vice President for Sales and Marketing of DataLand said that empty nesters will likely consider vertical living in the new normal. It provides better convenience for senior folks.
If you’re planning to downsize, these are the things you should look for in condos:
A Location Close to Everything
Although it’s already a given that condos are in strategic locations, there are those that especially provide convenient access to essential amenities. For instance, some would have a connecting bridge to a nearby mall, while others are within mixed-use estates, which also host offices, clinics and hospitals, and retail spaces. These are the condos empty nesters should move into not only because of the travel restrictions during this pandemic but also because of the mobility issues they might experience later in life.
When you search for properties online, try to check the establishments near the area. On Lamudi’s listings, you’ll find the section Nearby Landmarks, which should give you that information.
Amenities and Features You’ll Enjoy
Condo living is in part enjoying the hotel-like amenities within the community. Now that you have more time on your hands with your partner, for sure, you would want to take advantage of these leisure facilities when you finally move to your unit.
Take note though that there are condos that go beyond the typical swimming pools and meditation gardens. Some have libraries, private theaters, game rooms, and al fresco dining areas. If you have a particular hobby or favorite pastime, you should consider the amenities that would really match your lifestyle. They can also cure cabin fever blues during these times.
Aside from exclusive amenities, it’s also a good idea to find a condo that has intelligent home features. Appliances and fixtures that can connect to the internet can make day-to-day living easier.
A Size Just Right
From a huge two-story house in a gated subdivision, most empty nesters move to a condo to downsize. But just because you’re going small doesn’t mean going for the studio-type condo. The right size is still crucial. Survey your home now and see which belongings you’ll take with you to your next home and which ones you’ll be tossing out, donating, or giving to loved ones. This should give you a rough idea of how much space you need in your condo.
It’s also okay to consider a unit that would offer a spare room, which can serve different purposes. It can be an exercise room, a hobby area, or a home office. It can be a guest bedroom for when your children and grandchildren visit you. Remember, your next home should help you cope with the crisis at hand.
Rules (and Restrictions) That Suit Your Lifestyle
As you know, condos have a particular set of laws for residents. Some don’t allow pets on the premises. Others have a strict no-smoking policy. Some developers allow major renovations, while others don’t. Then, there are those that have restrictions on the service providers for utilities, including cable and internet.
Obviously, you should move to a condo that aligns with your preferences and allows the lifestyle you’ve embraced. Similarly, you should find one that sets limits on what you don’t want. The last thing you need in your senior years is having to deal with rules that you don’t agree with, right?
An Attractive Resale Value
Why exactly is this important when you’re already settling for retirement? Well, plans can change. In case you plan on moving to, say, a vacation home in a tourist hotspot, you can be sure that your condo will still be hot on the market after all the years you spent in it.
To make sure it has a good resale value, you go back to the location. Is it accessible? Are there developments around it? Will there be future infrastructure projects near it? These dictate the sellability of your home years from now.
Empty nesters will soon look to condominiums as their next home. As you plan your move, consider these factors to make sure you’ll be living the dream life in your senior years.
Article and Photo originally posted by Lamudi last February 19, 2021.
About Post Author
More Stories
Banks’ total assets up at P26.2 trillion end-June
Lamudi sees heightened developer confidence with rise in ad spending
Phase 1 of PHINMA’s Bacolod township to finish by next year