Types of condos you should know

Types of condos you should know

If you’ve decided to own or rent a condo from Sims Villa Condo, then you’ve come to the right place in viewing one of the best facilities and units you can find. To educate you on our different properties, it’s important that you fully understand what the real estate industry is all about. 

Below are the best properties you can get right now at very affordable prices. Feel free to contact our emails and talk to our representatives if you have any concerns or questions regarding our units.

Why go for Sims Villa Condo’s units? 

There’s nothing quite like our properties available. They are unique, accessible, and have one of the best interiors you can find in any condo unit. For starters, you can find multiple sizes of condos that should be on par with your budget. 

The smaller the unit, the cheaper the price. What comes with the properties are the facilities they offer as well. You can go to a gym, visit restaurants nearby, and even have a dedicated laundromat for your laundry needs.

This is the perfect residential property for you and your family, and it’s going to benefit you in the long run if you decide to have one from us. So, get the paperwork ready and have one of our representative staff take care of your real estate needs.

Types of condos we offer

As you can probably tell, there are many different types of condos out there, all with their unique features and qualities. Sims Villa Condo has the following types of condos available for future homeowners:

Freehold condominiums 

The word ‘freehold’ refers to a type of condominium where developers own the land where the units stand. The ownership is transferable to the potential homeowners thus the name. These are some of the most common types of condominiums offered today. 

It just so happens that our freehold condominiums are dedicated to willing buyers who want to own the units themselves. The best part about this type of condo is the fact that homeowners can own the land where the unit stands, giving them full ownership over the property.

When owned, homeowners will have the responsibility to keep their unit clean and maintain its quality over the years. This includes the walls, exterior windows, doors, furniture, and other aspects of the condominium unique to our properties. 

If you are looking for a type of condo that provides you with the freedom to renovate and make personal improvements, then this is without a doubt the condominium to buy for you and your family. 

Standard condominiums 

Standard condominiums are among the most common types of condominiums out there and are built to be divided into separate units. Once you buy this type of property, you own the unit’s walls, ceilings, floor, and everything within the measurements of the condo. 

However, anything outside of the unit is considered a common element and ownership don’t reside on the homeowners already. Common spaces and locations like hallways, reception areas, gym facilities, snack bars, and guard quarters are owned by a larger group. 

In our case, we have multiple standard condos where people can rent or buy for themselves. If they break something inside their space, then they are fully responsible for replacing them. 

However, if they break property outside their own premises, then it is another problem entirely as they are now liable for damages and more imputable causes. Public property is not owned by the homeowners. So, having to live inside a standard condo will have its limitations. 

Nevertheless, many people go for our standard condos because any reasonable person will abide by the laws that protect exterior properties. 

Vacant land condominiums

A vacant land condo is a type of condominium that only has bare land that will be sold in units. Companies like ours register these lands for selling as production starts for a condo to be built. 

With vacant land condos, you are not only given ownership to the unit once it gets built but also the land that it sits on. This is perfect if you want a particular look for your condo and wants it built in a certain way. 

The best part about it is before the unit gets built, we have full responsibility and liability for making it. However, the expense lies on you, and we charge based on the market value. Therefore, this transaction is prepaid by nature which may take some time for building.

Regardless, our vacant land condos are all the rave among homeowners.

Common elements condominiums

This unique type of condo is among the most coveted on our list of condominiums ready for selling. For starters, when you buy a common element condo, there are no units involved in the transaction.

Instead, you only get the shared spaces and amenities around the condo. Interest is of course attached at reasonable rates. All parcels of land will be referred to as parcels of a tied land fee (PTOL).

The benefit of buying common elements condominiums is for small business owners to start their real estate business. This is because they have ownership of the condo should they build one and the common elements around it. They can also have the units rented or owned by other homeowners. 

For those who want to live in one of the common elements, they can freely do so as they already own the property. In a booming real estate market today, most would want to build their own condo unit business to earn an extra income. 

Leasehold condominiums 

With this type of condo, the land is not owned by the company but instead from a separate partner. This partnership allows us to mass-produce condo units for people to rent on. It’s also a common type of condo unit if owners wanted a more compact and affordable option. 

The best part about leasehold condominiums is that they can be owned through time, but the land stays with the original owners unless they decide to forfeit their ownership. Because of this, units are sold at considerably lower rates than attached PTOLs. 

The landowner, in this case, leases out the property to a developer (Sims Villa Condo) and grants a tenancy of 40 years or longer. Condo buyers cannot own the units unless forfeiture takes place. And even then, rates will be lower due to the separation of ownership between land and unit. 

Land cost is not included in the fees when renting or owning which also adds to its affordability, and the portion of the rent payable goes to the landowner as it is incorporated in the common expense fees. 

You’ll find fulfilment in this type of condo if you want to save money. Renting has always been a great way for condo owners to utilise their incomes in smart ways. Not only will you get a good home, but also pay less than the market price average.

A checklist to finding your perfect condo

The options available are now laid out before you, so it’s now time to figure out which one is the best and most ideal one for you. To iterate this, below is a checklist of aspects to look into when finding the best condo for you and your family:

Price 

The first thing you need to consider is your budget. If you can’t afford the higher-end condos, then you should settle for less expensive options. Fortunately for you, we have great price-quality ratios in all of the condos we offer. 

Even if you’ll be paying way less than the average market cap, you’ll still get above-average units that are not in the price range of other companies. 

This is why price should be your priority before deciding which type of condo to choose. If you’re on a budget, a leasehold condo is the perfect one for you. They are cheaper and provide the best return on your investment since they don’t cost too much to acquire. 

Size

When you have a bigger family, you might be forced to rent or own a bigger property. It’s only natural since you’ll want to have favourable living conditions for you and your family, and having the right size is paramount to achieving that. 

When you are buying or renting your condo for the first time, it’s important to ask our representatives what sizes are available. Thereafter, you should ask for the price to take your budget into account. 

Fortunately for you, Sims Villa Condo has one of the more affordable options regardless of size. So, you’ll be glad to know that even the bigger ones are still affordable for you and your family to live in. 

Location 

Finally, the location is an integral factor when choosing your condominium. The most intriguing part about finding your best condo unit is if it’s near your work or facilities that make your life more convenient.

Most people’s main reason for getting a condo in the first place is for this very purpose. Luckily for you, our condos are situated at the best locations possible, and no matter where you live, you’ll be sure to find a unit that’s adjacent to all the facilities you visit. 

Live in the best units from Sims Villa Condo! 

Are you convinced of getting a unit from Sims Villa Condo? If so, start dialling up the phone or contacting us through email to get you the best condo unit of your dreams! At these rates, you are sure to acquire one that suits your very needs!

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