The Pros And Cons When Surviving in Singapore Condos2100381
Moving in to a condominium is a dream become a reality for many young professionals and families today. What many do not realize is that condo living differs in many aspects. Those familiar with living in single unit houses will surely go through a phase of adjustment after relocating to their new homes. For buyers of Singapore condos, financial changes could be the most evident.
Families and folks who consider moving 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 continue to be more affordable than townhouses or single unit homes and they make a great investment. Some house 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 many who would rather rent.
Adjustment phase: Prepare to cover condominium and association fees
Many condos require 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 will be the obligation of the condo association. The association dues collected from condo unit owners are used to maintain the facilities and amenities made available from the real estate. These fees vary, but they are almost always less cheap as property owners would like them being. For a growing family or for single tenants, the apartment fees definitely take a toll on their budget.
Leave behind total silence and privacy
Singapore condo unit owners are partners with the rest of the home those who own the complex. Generally 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 those who live close to people who like serenity and peace, but living close to a family especially with children or alongside a couple who perpetually argues could be bothersome.
Owners have only rights to the interior walls of the units. The rest of the structure of the building and the land is distributed to other condominium unit owners. Also, unlike townhouses which have verandas, garages, or garden, condo living is fixed to the four spaces of the unit. Families with children will see that it is a challenge to keep their young confined inside their Singapore condos. This is where the club amenities seem useful. There are lots of Singapore condos which offer excellent amenities besides beautiful units. When buying condos, think about the amenities provided to compensate for the possible lack of personal space.
When the time comes a condo unit owner decides to market his unit, it might take longer than anticipated to resell it. Today, it really is easier to buy a property rather 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 better option and many are prepared to overlook the cons.
