Real estate is one of many investments available to potential investors. Historically, it has been billed as a steady reliable investment with high returns if the investor is willing to wait out offers and only sell when it is a seller’s market.
One key driving element that is in favor of Pines Garden Apartments as a potential real investment is that luxury housing has always maintained a steady demand. Even in economic downturns, the category of buyers who invest in luxury housing is not as highly impacted as lower income earners.
It is a well-known fact in the real estate business that it is easier to sell the top tier property than it is selling mid-tier low-tier properties.
The real estate market, just like the stock exchange market, has its ups and downs. A good question would be whether it is advisable to invest in the high-end Pines Garden Apartments in 2019? The answer is yes, and here’s why.
Apartments and condos are gaining massive popularity because the aging baby boomer population and empty nesters are downsizing from their current large single unit family houses to living spaces that are smaller and easier to manage because they don’t need the extra space and their age limits the amount of outdoor work and maintenance they can do.
Let us look at the advantages of investing in a luxury apartment right now
Less maintenance
One of the biggest advantages of living in a condominium is that outdoor maintenance work is contracted to other individuals to do. The exterior of a condominium complex is a communal property for all the residents. The Homeowners Association is tasked with maintaining the communal spaces, the upkeep of the grounds, and repairs of these external facilities.
So for an individual residing at Pines Garden Apartments, they don’t have to worry about chores like mowing the lawn, this will all be catered for by the HOA.
Better security management
Pines Garden Apartments is enclosed in a gated area with strict well-managed access control using locked entry and exit points, doorkeepers, and a team of professional, well-trained, well compensated, and motivated security team.
Residing in a community like Pines Garden provides you with better protection against break-ins. You will live in close proximity to other neighbors who are always looking out for each other and who will come to your aid should you need it.
State-of-the-art amenities
The purchasing power of a group is larger than the purchasing power of an individual. The HOA of a condominium complex can source of funds that enables it to have state-of-the-art facilities like fully stocked gymnasiums and media centers with state-of-the-art equipment.
It will then be possible for the residents to have access to very high-end equipment that an individual resident living in a single-family unit would find almost impossible to afford on their own.
Residents of such a complex would then collectively enjoy these facilities by paying a reasonable monthly fee that is included in their condo fees.
These amenities are also located conveniently within the condominium complex, our residents, therefore, don’t suffer the inconvenience of having to drive to gymnasiums or pay for an additional subscription fee fitness clubs.
Communal use of these amenities is also a great networking area. Residents can get to know each other and most complexes allow the residents to bring out their guests to enjoy these amenities.
Affordability
It is safe to say that condominium and flat complexes have a lower upfront cost than single-family units. If we were to do a comparison between a single family unit and a condominium unit of the same square footage in the same area, the upfront costs of the single family unit is expected to be higher because of the price of the land.
Because each single-family units is built on its own individual, titled land, it can also be subject to overpricing because of the premium placed on land. Condominiums and flats, on the other hand, utilize more vertical space than they do lateral space. The price of a condo complex real estate is shared amongst the multiple units it holds.
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