The Pros And Cons When Residing in Singapore Condos4680668
Transferring to a condominium is really a dream come true for many young professionals and families today. What many don't understand is that condo living is different in many aspects. Those used to 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 folks who consider relocating to a condo will like the amenities for example swimming pool, gym, basketball court, or tennis court. Accessibility-wise, most Singapore condos have reached 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 house buyers today purchase The Linq @ Beauty World and lease them to BPO employees. Although decide to buy, there's still many who would rather rent.
Adjustment phase: Prepare to cover condominium and association fees
Many condos require monthly payment of association fees, for repair and maintenance of common areas of the building. Homeowners are only in charge of repairs and maintenance inside their own units. In Singapore condos, most condominium associations put aside 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 used to maintain the facilities and amenities provided by the real estate. These fees vary, but they are almost always less cheap as homeowners would like them to be. For a growing family or for single tenants, the apartment fees definitely require a toll on their own budget.
Leave behind total silence and privacy
Singapore condo unit owners are partners along with the rest of the home owners of the complex. Typically 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 many who live next to people who like serenity and peace, but living next to a family particularly with children or close to a couple who perpetually argues could be bothersome.
Owners have only rights towards the interior walls of these units. The rest of the structure from the building and the land is distributed to other condominium unit owners. Also, unlike townhouses which may have verandas, garages, or garden, condo living is limited to the four spaces of your unit. Families with children will see that it is a challenge to have their young confined in their Singapore condos. This is when the club amenities seem useful. There are many Singapore condos that provide excellent amenities besides beautiful units. When buying 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 could take longer than expected to resell it. Today, it's easier to buy a property than to resell it. Singapore condos relatively have higher market price due to the location; even the resale value remains competitive years after the purchase.
For first time home owners, condo living still remains a more sensible choice and many are able to overlook the cons.
