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With a rapid increase in population in urban regions worldwide, the pressure of accommodation seems to be increasing, evidenced by the rise in mid and high-rise developments that continue to sprout out across urban areas worldwide. Most people, especially millennials with small families, find it more convenient and less time-consuming to move into a condominium unit than wait longer for the construction of a house. Condos have been dubbed as the epitome of modern-day living and are ideal for young professionals, starting couples, working-class, and even old couples. While most people anticipate buying a single-family house when considering their next home purchase, a condominium could be a better option depending on your situation and finances and offers several benefits as outlined in this article.