The Pros And Cons When Living in Singapore Condos7258897

Transferring to a condominium is a dream be realized for many young professionals and families today. What many don't understand is that condo living is unique in many aspects. Those accustomed to living in single unit houses will surely go through a phase of adjustment after transferring to their new homes. For buyers of Singapore condos, financial changes will be the most evident.

Families and individuals who consider relocating to a condo will like the amenities such as swimming pool, gym, basketball court, or tennis court. Accessibility-wise, most Singapore condos have reached locations near supermarkets, offices, schools, and hospitals.

Condos continue to be more affordable than townhouses or single unit homes and so they make a great investment. Some home buyers today purchase The Linq At Beauty World Showflat and lease them to BPO employees. Even though many decide to buy, there is certainly still a majority who would rather rent.

Adjustment phase: Prepare to cover condominium and association fees

Many condos require monthly payment of association fees, which cover repair and maintenance of common areas of the building. Homeowners are only in charge of repairs and maintenance in their own units. In Singapore condos, most condominium associations reserve a fund for future expenses. General and exterior repairs would be the obligation with the condo association. The association dues collected from condo unit owners are employed to maintain the facilities and amenities made available from the real estate. These fees vary, but they are almost always not as cheap as property owners would like them being. For a growing family or even for single tenants, the apartment fees definitely have a toll on the budget.

Bid farewell to total silence and privacy

Singapore condo unit owners are partners along with the rest of the home owners of the complex. In most cases there will be more than four condo units in every floor, depending on the area of the complex. Literally, units are separated by walls. Lucky for individuals who live close to people who like serenity and peace, but living alongside a family particularly with children or close to a couple who perpetually argues may be bothersome.

Owners only have rights towards the interior walls of the units. The remainder of the structure with the building as well as the land is shared with other condominium unit owners. Also, unlike townhouses which may have verandas, garages, or garden, condo living is restricted to the four spaces of a unit. Families with children will find that it is a challenge to have their young confined inside their Singapore condos. This is where the club amenities seem useful. There are numerous Singapore condos that provide excellent amenities besides beautiful units. When choosing condos, think about the amenities agreed to compensate for having less personal space.

When it's time a condo unit owner decides to market his unit, it may take longer than anticipated to resell it. Today, it is easier to buy a property rather than to resell it. Singapore condos relatively have higher rate due to the location; perhaps the resale value remains competitive years following your purchase.

For first time home owners, condo living still remains a better option and many are able to overlook the cons.