The Pros And Cons When Living in Singapore Condos5109161
Moving in to a condominium can be a dream be realized 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 definitely go through a phase of adjustment after moving in to their new homes. For buyers of Singapore condos, financial changes will be the most evident.
Families and folks 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 remain more affordable than townhouses or single unit homes plus they make a great investment. Some homeowners today purchase The Linq @ Beauty World and lease these 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 regions of the building. Home owners are only accountable for repairs and maintenance of their own units. In Singapore condos, most condominium associations reserve a fund for future expenses. General and exterior repairs are 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 they are almost always less cheap as homeowners would like them to become. For a growing family or even for single tenants, the condo fees definitely have a toll on the 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, depending on the area of the complex. Literally, units are separated by walls. Lucky for those who live alongside people who like serenity and peace, but living next to a family particularly with children or alongside a couple who perpetually argues could be bothersome.
Owners only have rights to the interior walls of their units. All of those other structure from the building as well as 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 your unit. Families with children will find that it is a challenge to keep their young confined in their Singapore condos. This is when the club amenities seem useful. There are numerous Singapore condos which offer excellent amenities apart from beautiful units. When purchasing condos, consider the amenities agreed to compensate for the lack of personal space.
When the time comes a condo unit owner decides to market his unit, it might take longer than expected to resell it. Today, it really is easier to buy a property rather than resell it. Singapore condos relatively have higher rate due to the location; even the resale value remains competitive years following your purchase.
For first time home owners, condo living still remains a better choice and many are prepared to overlook the cons.
