Buying VS Renting A Condo In Indonesia

Indonesian condo for sale

What is a condo?

A condo is a building much like an apartment in which the ownership of each unit belongs to different individuals. All the units collectively enjoy the extra luxurious such as a club or a pool. Units usually share walls but it isn’t necessary. You can find condos where individuals units don’t share a wall, as well. Condos are much like homes but the only difference is that the owner of the condo doesn’t individually own the land. The land of the condominium project is equally owned by all the dwelling owners.

Why must one buy a condo?

1.      Fixed mortgage payment

When you are investing in buying an Indonesian condo for sale, you are probably going to go for the mortgage plans. Unlike rentals that are expected to increases each year, mortgage payments remain constant throughout the time being.

2.      Healthy environment

One can choose the environment that they want to live it. Each condo has its own association that looks after the environment. So if you planning on living a quiet and peaceful life then look for condos that are built for retired individuals.

3.      Vacationing

Buying a condo in an area which you often visit during your vacations saves a lot of expenses. You don’t have to rent a hotel room every time you go there plus you can enjoy some privacy with your family or friends.

4.      Insurance

Insurance premium of condos only covers the interior because the exterior is taken care of by the association.  So insurance is cheaper as compared to other Indonesian properties for sale

What must one rent a condo?

1.      Flexibility

Renting a condo offers flexibility. You can easily shift from one place to other without having to worry about the commission charges or other legal requirements that are required for selling a condo.

2.      Less responsibility

You don’t have to worry about maintaining the exterior or any of the structural repairs. As an occupant, you don’t have to go to the association meetings or any other committee responsibilities.

What makes buying better than renting?

1.      Inflation in rent

Rent payments increase every year due to inflation whereas the mortgage payments remain fixed and one doesn’t have to worry about renewing the lease after every year.

2.      Increase in wealth

Owning a property adds to your wealth. The popularity of condos is increasing day by day which is making them more and more expensive. This increases the wealth of the condo owners.