The Pros And Cons When Living in Singapore Condos3392516

Relocating to a condominium is 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 used to living in single unit houses will certainly go through a phase of adjustment after transferring to their new homes. For buyers of Singapore condos, financial changes could be the most evident.

Families and folks who consider relocating 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 and 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's still many who would rather rent.

Adjustment phase: Prepare to cover condominium and association fees

Many condos require payment of association fees, for repair and maintenance of common areas of the building. Property 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 of the condo association. The association dues collected from condo unit owners are utilized to maintain the facilities and amenities made available from the real estate. These fees vary, but you are almost always less cheap as property owners would like them to be. For a growing family or even for single tenants, the condo fees definitely require a toll on their budget.

Bid farewell to total silence and privacy

Singapore condo unit owners are partners with the remainder of the home owners of 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 those 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 may be bothersome.

Owners have only rights for the interior walls of their units. The remainder of the structure from the building as well as 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 a unit. Families with children will discover that it is a challenge to have their young confined inside their Singapore condos. This is where the club amenities seem useful. There are numerous Singapore condos which offer excellent amenities besides beautiful units. When purchasing condos, look at the amenities provided to compensate for the possible lack of personal space.

When it's time a condo unit owner decides to offer 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; the resale value remains competitive years after the purchase.

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