Condominiums are a lifestyle; whether large or small, vertical or horizontal, the truth is that over the years, they have become increasingly common over the world. These residential spaces offer a series of benefits that are not found in other places, however, around them there are several myths that can change your perception and confuse you when investing in a property.
In this article we tell you about the most famous myths about condominium lifestyle and with the help of our real estate advisor Ciany Devoto from the Nativu Cartago office we explain everything you need to know about this type of properties.
The 5 myths of condominium lifestyle
“Everything is prohibited”:
It is true that in condominiums there is an internal statute that governs some behaviors, for example; the use of common areas, the decoration, the construction area and even the external painting of each branch. However, the rules vary according to the condominium and these only apply in common areas, this means that inside your house you can do everything you want.
For some people, this might not be negotiable, however, within the condominium, what is sought is to create an environment of peace where all the owners can make use of the common areas without affecting the rights of each neighbor.
“The common areas are purely ornamental”
We commonly hear that you have to ‘ask for permission’ every time you are going to use the common areas of the condominium and this is not necessarily the truth. Some areas such as ranches, terraces or office spaces must be scheduled in advance to ensure the necessary privacy to carry out any activity with family or friends.
There are other areas such as swimming pools, playgrounds or parks that are open 24/7 for the use of condominium owners. Also within the condominium fee, the maintenance of all these areas is counted so that residents can be sure that they will always find them in good condition.
“The condominiums are 100% safe”
When investing in a condominium property, it is important to keep in mind that security varies according to the type of condominium and the place where it is located. Some have security cameras, lights, a security guard, controlled entry and 24/7 monitoring, among others.
It is essential for owners to be active and join the security system; collaborating with reporting guests or answering calls, for example. Having all these tools does not guarantee that it will be 100% safe, however, the possibilities are considerably lower and it can be a deciding factor when investing.
The administration is your best ally!
The administration is chosen by vote in the Condominium Assembly and it is important to acknowledge that it is here to help with any problems that may arise. In addition, they are responsible for the maintenance of common areas, payment of security and the administration of the condominium fee.
It can be in charge of a natural or a legal person and they must hold condominium assemblies throughout the year, give accounts explaining what the common money has been spent on and provide transparency to all the internal procedures.
“It is forbidden to have pets in condominiums”
The reality is that it depends on the type of condominium and the type of pet. Not all condominiums are prohibited to pets, however most ask that they be cared for, that they do not invade other people’s property and that their waste be collected when they are taken for a walk.
The best advice if you have pets is to check with the administration in advance to ask what the limitations are regarding animals to see if their lifestyle is compatible with your family.
Condo living has multiple benefits, but it’s not for everyone. If you want to know more about this topic to make an informed decision when investing, we leave you some related articles that can answer many of your questions here.
In addition, we leave you our property portfolio throughout the Costa Rican territory so that you can learn about excellent investment options.
