I feel condominiums can and are good places to live, however i do not feel in general they are the best investment one can make regarding real estate. I have lived in a condominium for over 12 years. no i am not an old person, nor do i sit around all day, being negative ( as i see one of the authors here feels most condo owners and dwellers are!) even people in town homes an single family homes can do that. hey life is what you make it no matter where you choose to live. Most people choose to buy a condominium because they are more affordable than single family homes. some people do not want nor need a single family home, nor do they want to purchase rental property and be a land lord, for various reasons! Also the property taxes on many condos can be less expensive than those of a single family home.IF they are well managed and have an attentive , knowledgeable, caring board ( association ) they are wonderful places to live!i have found that there are many poor conversions ( apartment buildings converted to condominiums) and newer developments with many problems such as owners of new developments not willing or refusing to turn control of buildings and associations over to the condo associations, board members steeling from reserve accounts , laundry proceeds etc! ( a reserve account is a separate usually a bank account that the board of directors known s the condominium association, maintains for repair and up keep of the building and the common areas of the property). For the best serviced apartments in Hanoi go to https://hanoirealestate.com.vn/serviced-apartments-in-hanoi.html
often monthly assessments are not paid by some or many owners in a complex, fines nor fees are not paid!
their may be a high rate of renting in a building or a group of condo buildings!
the main reason people ( mostly young people I find that can not afford the high cost of a single family home, nor the down payment, high property taxes, up keep , etc, of a single family homes a condo or town home it seems to me are the choices young, middle aged and older people are making these days!)
RENTERS I FIND OFTEN HAVE LESS RESPECT AND CONCERN FOR THEIR OWN AND OTHER PEOPLE’S PROPERTY, CAN BE MORE ROWDY, HELL RAISING THAN OWNERS, DO DAMAGE TO A BUILDING, ILLEGALLY SUB LEASE A UNIT ( CHANGE THE LOCKS WITH OUT PERMISSION OR NOTIFICATION OF THE OWNER, LAND LORD!) SELL AND OR USE DRUGS OUT OF A UNIT, ETC! YES U REALIZE THERE ARE GOOD AND BAD OWNERS AND RENTERS, HOWEVER IT IS MY PERSONAL EXPERIENCE AS A 16 YEAR GOOD CONDO , AND FORMER 4 YEAR RENTER A GOOD ONE AT THAT, MANY RENTERS DO NOT CARE! THEY WILL TELL ANY ONE, ( I JUST RENT HERE! I DO NOT CARE WHAT GOES ON OR HAPPENS, ETC! I CAN UP AND LEAVE WHEN MY LEASE IS UP, OR WHEN EVER I WANT! SOME JUST ABSCOND! I AM A WITNESS TO IT!)