The Pros And Cons When Living in Singapore Condos9880432
Transferring to a condominium can be a dream come true for many young professionals and families today. What many don't realize is that condo living is different in many aspects. Those familiar with living in single unit houses will definitely go through a phase of adjustment after relocating to their new homes. For buyers of Singapore condos, financial changes will be the most evident.
Families and people who consider relocating to a condo will enjoy the amenities including swimming pool, gym, basketball court, or tennis court. Accessibility-wise, most Singapore condos are situated in locations near supermarkets, offices, schools, and hospitals.
Condos are still more affordable than townhouses or single unit homes plus they make a great investment. Some home buyers today purchase The Linq @ Beauty World and lease these to BPO employees. Even though many decide to buy, there's still many who would rather rent.
Adjustment phase: Prepare to fund condominium and association fees
Many condos require payment of association fees, for repair and maintenance of common aspects of the building. Property owners are only in charge of repairs and maintenance in their own units. In Singapore condos, most condominium associations put aside a fund for future expenses. General and exterior repairs would be the obligation from the condo association. The association dues collected from condo unit owners are used to maintain the facilities and amenities offered by the real estate. These fees vary, but they are almost always not as cheap as homeowners would like them to be. For a growing family or perhaps for single tenants, the condo fees definitely take a toll on their budget.
Leave behind total silence and privacy
Singapore condo unit owners are partners with the remainder of the home owners of the complex. Generally there will be a lot more than four condo units in every floor, based on the area of the complex. Literally, units are separated by walls. Lucky for individuals who live next to people who like serenity and peace, but living alongside a family particularly with children or close to a couple who perpetually argues can be bothersome.
Owners only have rights to the interior walls of these units. All of those other structure with the building and also the land is distributed to other condominium unit owners. Also, unlike townhouses that have verandas, garages, or garden, condo living is limited to the four spaces of a unit. Families with children will see that it is a challenge to maintain their young confined inside their Singapore condos. This is when the club amenities seem useful. There are many Singapore condos which offer excellent amenities besides beautiful units. When purchasing condos, consider the amenities offered to compensate for the lack of personal space.
When the time comes a condo unit owner decides to sell his unit, it could take longer than likely to resell it. Today, it is easier to purchase a property than to resell it. Singapore condos relatively have higher rate due to the location; even the resale value remains competitive years following your purchase.
Achievable home owners, condo living still remains a better choice and many are able to overlook the cons.
