The Pros And Cons When Residing in Singapore Condos192564
Moving in to a condominium can be a dream come true for many young professionals and families today. What many don't understand is that condo living differs 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 people who consider transferring to a condo will like 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 homeowners today purchase The Linq @ Beauty World and lease them to BPO employees. Although decide to buy, there's still a majority who would rather rent.
Adjustment phase: Prepare to cover condominium and association fees
Many condos require monthly payment of association fees, that go over repair and maintenance of common regions of the building. Property owners are only responsible for repairs and maintenance of their own units. In Singapore condos, most condominium associations reserve a fund for future expenses. General and exterior repairs will be the obligation of the condo association. The association dues collected from condo unit owners are utilized to maintain the facilities and amenities offered 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 even for single tenants, the apartment fees definitely have a toll on their budget.
Leave behind total silence and privacy
Singapore condo unit owners are partners along with the rest of the home people who just love the complex. In most cases there will be a lot more than four condo units in each floor, with respect to 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 next to a family particularly with children or alongside a couple who perpetually argues may be bothersome.
Owners have only rights towards the interior walls of the units. The rest of the structure from the building and the land is distributed to other condominium unit owners. Also, unlike townhouses which have verandas, garages, or garden, condo living is restricted to the four spaces of a unit. Families with children will discover that it is a challenge to have their young confined inside their Singapore condos. This is when the club amenities seem useful. There are many Singapore condos that provide excellent amenities aside from beautiful units. When buying condos, think about the amenities provided to compensate for the lack of personal space.
When it's time a condo unit owner decides to offer his unit, it may take longer than likely to resell it. Today, it really is easier to purchase a property rather than to resell it. Singapore condos relatively have higher market value due to the location; perhaps the resale value remains competitive years following your purchase.
For brand spanking new home owners, condo living still remains a better option and many are willing to overlook the cons.
