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July 01, 2010

Types Of Condominium Projects And Their Pros And Cons – PART 1


We often hear the terms High-rise, Mid-rise and Hybrid among real estate agents trying to sell condominium projects in malls or we see them in the advertisement leaflets that they give out. But have we really tried to consider knowing what each of these types offer? What are the characteristics of each that can affect our lifestyle? Today I will educate you on the hits and misses of each type of condominium projects. 

High-rise Projects – It is considered a high- rise project if the building consists of 19 to 37 or more levels or floors. Majority of these projects are built on premium locations in the heart of the city where access to public transportation system and major business centers is easy. It is also economical in the long run because having the easy access to all advantage can save you time, gas and energy. High-rise condos also offer luxury in terms of its amenities, the hotel like lobby and the fact that you truly own a part of the land on a prime location (for freehold ownership). It is also cheaper to have your home insured if you are living on a high -rise project because the building codes implemented on these projects are much stricter compared to regular homes.

A minor disadvantage for high-rise condos that you need to be keen on is the density. It would be good to know if the number of units on every level is just adequate not to compromise the privacy, ventilation and natural light for each resident.  I remember visiting a friend who lives in a condo. I was there around 3pm and it was a sunny day but as I was going out of their cramped elevator, a long dark corridor lies ahead. It was like a scene in a horror movie where there is a long dark corridor and you could see a light from afar…Then suddenly a cold hand is on your shoulder...I won’t tell where my friend lives but my point is that you need to be keen on things like this. Transporting heavy furniture can also be a challenge for high-rise condos, be sure to check the spaciousness of the elevator or if there is a service elevator and check if there is a generator to back them up during power interruption.

Achtung! What to watch out for? One of the possible downside of high-rise living is when emergencies occur like fire or earthquake. It would be a serious challenge for firefighters to control the fire if it’s coming from a unit on the higher floors. Evacuation during emergencies can also pose problems if the residents are not properly briefed on what to do. It is also important to know the seismic vulnerability rating of the building and the credibility of the contractor who made the structure. Be sure to check if there are preventive measures installed and implemented in the building for such emergencies.

(Achtung is German word for attention) Hah! You learned something eh!
 

Continued on my next post. (Click here)
 

Live a beautiful life!

Ryan Rillorta

3 comments:

  1. Very informative. This will help and enlighten many condo buyers in days to come. Thanks for posting this article. May you share more tips and helpful facts about real estate. More power and Godbless you!- Mr. G

    ReplyDelete
  2. Thank you very much Mr. G. I'm glad that you learned something from this article. Please share to your friends.

    ReplyDelete
  3. The types of condo projects and their work is given here. Read to know more

    ReplyDelete

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