Buying a Home: The Medium-Rise Condominium Cluster

serendra.jpgMy parents-in-law are in their seventies and I thought they would be content living in their country home way up in the mountains. Apparently, they also miss the city. It is no wonder they chose a Serendra, a medium rise condo cluster which boasts of a large green open spaces, landscaped lawns, huge swimming pool, tall palms to produce a resort-like ambiance. The environment is ideal for them even if the space is small since it’s just the two of them. The feeling that they live in a resort is ideal for them.

The idea that the medium-rise condominium is just for young couples is not necessarily true.

Is the medium-rise condo for you? Here is a tip sheet if a medium-rise condo is for you:

The Rationale: It combines the advantages of the high-rise condo (e.g. security, garbage management) and the ambiance of a planned subdivision (e.g. shared recreational areas, pools, pocket gardens). The lesser number of storeys allow skylights in corridors; lessening that enclosed, isolated feeling common inside tall buildings. The multiple storeys still make land use efficient, so developers can afford to build these in areas near the business districts.

Ideal for: Small families starting out, young professionals

Possible Lifestyle: You can get to work within a decent time while giving your kids space to play. But you have to be extra considerate to the neighbors (this means no loud parties till dawn)

Design Flexibility: No opportunity for expansion, unless you get a bigger unit. There may be rules on the color of your curtains, or what you can put out on your balcony (e.g. no hanging laundry)

Best Deals: Developments with good site planning and excellent communal facilities, such as swimming pools, rooms for entertaining visitors and extra storage space or laundry areas outside the units; a project by a developer that’s committed to the maintenance of the buildings landscaping and physical facilities. Also one with nice neighbors.

Price: Price ranging from 2.1 million to 10 million pesos.

More on three developments which depict three lifestyles

If you need a real estate broker for your Philippine’ real estate investment needs, please contact me using this contact form.

Source: Real Living June 2005

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