Condo

condominium vs apartment malaysia

condominium vs apartment malaysia

The term condominium units and apartment have been distorted over the years, especially in Malaysia, where they are used interchangeably. ... On the other hand, a standard apartment project provides the bare minimum such as a playground, parking space and stairs, although some may have lifts.

  1. What is the difference between apartment and condominium in Malaysia?
  2. What is the difference between apartment and condominium?
  3. Are condos built better than apartments?
  4. Why condos are better than apartments?
  5. Is condo cheaper than a house?
  6. Is it good to invest in serviced apartments?
  7. Is it good to buy a condo in 2020?
  8. Why should I buy a condo?
  9. Do renters pay condo fees?
  10. Why you should never buy a condo?
  11. Can you soundproof a condo?
  12. Are new apartments soundproof?

What is the difference between apartment and condominium in Malaysia?

1) Land status

A condominium is registered as a private residential area, with its individual units owned by different people/ owners. Serviced apartments are built on land registered for commercial use, and operate more like hotels. They tend to have a single owner who owns all units in the building.

What is the difference between apartment and condominium?

Apartment units are housed within a complex owned by a single entity—often a corporation and then leased out to individual tenants, while condo units are individually owned and managed under the umbrella of a condo Homeowner's Association (HOA), sometimes with the help of a property management company.

Are condos built better than apartments?

That is the basic difference between a condominium and an apartment. Otherwise, in terms of physical structure there is no visible difference between a condo and an apartment. ... However, condos will always have high end amenities. It does not mean that the condos are constructed to be higher quality than apartments.

Why condos are better than apartments?

Pros: Condos are typically in great condition, offer great amenities, and can be just as affordable as renting an apartment. Cons: The cost of HOA fees are tacked on to the rent and the renter may be responsible for maintenance fees.

Is condo cheaper than a house?

A condo is usually less expensive than a free-standing house. Condos are much smaller in square footage, and maintenance is typically cheaper because you're only responsible for the interior of your home. You don't have to worry about landscaping, the roof or the exterior walls. The condo board or HOA covers those.

Is it good to invest in serviced apartments?

Several small-to mid-sized builders are marketing serviced apartments as an investment opportunity with returns in the range of 9-14 per cent per annum. At present, investment in residential properties is more for capital appreciation than rental income.

Is it good to buy a condo in 2020?

This means you will find more people looking to rent than purchase a unit if you buy an investment property in the right location in 2020. As mentioned, condos are popular in bigger, urban settings. So making a condo investment will give you a better chance to find a tenant.

Why should I buy a condo?

Condos tend to come with lower price tags than single-family homes. They offer significantly greater independence than renting, but you aren't on your own when it comes to maintenance and repairs. Plus, owning a condo gives you the chance to build equity you can use toward a down payment on your next home.

Do renters pay condo fees?

Does the tenant or landlord pay? As the owner of the condo unit, condo fees are technically the landlord's responsibility. ... The landlord may also be able to direct the condo bill to the tenant so they can pay it directly. At the end of the day, it will come down to what's specified in the rental agreement.

Why you should never buy a condo?

Less Space and Flexibility. Another one of the reasons not to buy a condo is that you have less space and flexibility in how you use your place. Some condos offer owners extra storage space or possibly a basement, but you'll still likely have a smaller, more compact living environment than you would in a house.

Can you soundproof a condo?

Soundproofing a condo can turn a shared wall, ceiling or floor into an impenetrable fence, keeping noise out while affording you increased privacy. It can be a big project, but as Robert Frost says, “Good fences make good neighbors,” especially when they're close at hand.

Are new apartments soundproof?

When Newer Apartments Are Quieter

Sometimes you'll find that new apartments offer a quieter environment than old apartments. Apartments in a new complex may be closer together, but the walls may be constructed out of newer materials that take advantage of soundproofing technology through insulation.

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