The Pros And Cons When Residing in Singapore Condos4611476

Transferring to a condominium is a dream come true for many young professionals and families today. What many do not realize 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 transferring to their new homes. For buyers of Singapore condos, financial changes would be the most evident.

Families and individuals who consider transferring to a condo will love 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 them to BPO employees. Although decide to buy, there is still a majority who would rather rent.

Adjustment phase: Prepare to cover condominium and association fees

Many condos require payment per month of association fees, which cover repair and maintenance of common regions of the building. Homeowners are only accountable for repairs and maintenance inside 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 are almost always much less cheap as property owners would like them to become. For a growing family or even for single tenants, the condo fees definitely have a toll on their own budget.

Say goodbye to total silence and privacy

Singapore condo unit owners are partners with the rest of the home people who just love the complex. Generally there will be 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 next to a family especially with children or close to a couple who perpetually argues could be bothersome.

Owners just have rights for the interior walls of these units. The rest of the structure of the building and also the land is shared with other condominium unit owners. Also, unlike townhouses which have verandas, garages, or garden, condo living is restricted to the four spaces of the unit. Families with children will discover that it is a challenge to keep their young confined in their Singapore condos. This is where the club amenities seem useful. There are numerous Singapore condos that offer excellent amenities aside from beautiful units. When purchasing condos, look at the amenities offered to compensate for the possible lack of personal space.

When the time comes a condo unit owner decides to sell his unit, it might take longer than anticipated to resell it. Today, it is easier to buy a property rather than resell it. Singapore condos relatively have higher market price due to the location; the resale value remains competitive years after the purchase.

Achievable home owners, condo living still remains a better choice and many are willing to overlook the cons.