Opinion about Condo/Apartments.
Here is an opinion of my friend regarding apartments. In AUS, they call it apartment instead of condo. He works for one of the biggest apartment developer in NSW and QLD for over 12 years now. They built the World Tower in Sydney.
Living in an Apartment/condo is not luxurious/glamorous at all. So if you are thinking of investing/buying a condo, you should consider this opinion "direct from the horse's mouth".
These are the issues that always come up in a condo but very rare to a free-standing house. Condo salesperson don't discuss this to you.
1. NOISE
NSW and QLD has a very high standard with regards to building codes. But noise problem is always there. You cannot get rid of it. You are ONLY separated by a concrete slab above, below, and the adjacent neighbor (Remember, sound travel faster in solid materials). These is always true if the condo doesn't implement a secondary ceiling. With a 2nd ceiling you can place a batt or similar material for insulation and noise reduction. But this would be an extra cost for the developer thus they rarely implement this. Why extra cost? because the units must be built higher to accomodate the secondary ceiling. And every centimeter higher will cost money for the developer which they will pass to the buyer.
<Example> (for those trolls who are spoonfed from a diploma factory school):
You, wife and kids are having a pleasant dinner after a long day at the office.
Then you start hearing some noise. It sounds like, Oui!...Oui!...Oui!...Jebati!...Oui!...Oui!...Jebat i!!....Oui!...Oui!!.. and is getting louder every second.
Your wife and kids are looking at you wondering what is that noise.
Then you realized that the couple living above you, are "humping like a beaver" on top of their dining table.... Just 3 meters above your dining table.
Then your kids will ask, "Pa, unsa man nang Oui! ug Jebati!?"
The next day you learned that a French expat and his (another Euro) girfriend just bought the condo above you.
Just imagine, you hear that 3 times or 7 days a week.
What would do?
You can complain to the Frenchman, the building manager, or the building body corporate. But there's nothing you can do about it. Some people are just to loud when humping.
The expats can do whatever they want in their condo.
<End of Example>
You may say, "I'm not living in the condo". "The condo is only an investment". But still your tenant will be hearing that noise as well
And your tenant will complain to you. Even worst move out and ask for a refund. And then you are in trouble with regards to your loan repayments.
I cannot even speculate if you hear a 3rd language above your dining table.
Or even worst, Gays are living above. :0
Buy the Penthouse if you want to live in a condo. Nobody lives above you (exceptbirds or similar
Builders are always the winners in the High Rise Real Estate. The buyers can ride the wave. So it's 50/50 chance for the buyer/investor.
2. BURST WATER PIPES or similar.
Flooding is also an issue in a condo. Even worst if you are living in the lower floor.
The source of the problem could be burst pipe, or the people living above (it could be a few floors above you) are so dumb that the bath tub overflows... or dishwasher is broken...etc.
3. CLOGGED SEWER.
You will notice this when your condo starts to stink. Then you found out that the tenant above, so drunk and stoned, throw some sanitary napkin into the toilet bowl. Thus, clogging the sewer above you. Even worst, the sewer starts to leak into your condo.
The 3 major problems above is very common in a condo. And it's very frustrating because it's not your fault. It's the fault of the people living above, below or adjacent to you.
You rarely see that problems in a free-standing house. If it happens, it's most likely it's your fault.
FIRE. Condo fire is far more difficult to survive than a house fire in the suburb/subdivisions. While the 2nd-9th floor (including fire escape) are burning, you cannot jump out from the 10th floor, and then survive. Unless you are really lucky.
Condo/apartments is only ideal if the land are so expensive, e.g. cities like Singapore, Hongkong, etc.
Lots in subdivisions in CDO, MisOr, NorMin are still at an affordable range.
cheers,
Bisaya Dako