The Pros And Cons When Residing in Singapore Condos4355709

Transferring to a condominium is really a dream be realized for many young professionals and families today. What many don't realize is that condo living is unique in many aspects. Those used to living in single unit houses will certainly go through a phase of adjustment after relocating to their new homes. For buyers of Singapore condos, financial changes will be the most evident.

Families and people 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 plus they make a great investment. Some homeowners today purchase The Linq At Beauty World Showflat and lease them to BPO employees. Even though many decide to buy, there is certainly still a big part who would rather rent.

Adjustment phase: Prepare to fund condominium and association fees

Many condos require monthly payment of association fees, for repair and maintenance of common aspects 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 would be the obligation of the condo association. The association dues collected from condo unit owners are used to maintain the facilities and amenities provided by the real estate. These fees vary, but you 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 take a toll on the budget.

Leave behind total silence and privacy

Singapore condo unit owners are partners with the rest of the home owners of the complex. Generally there will be greater 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 close to people who like serenity and peace, but living close to a family particularly with children or next to a couple who perpetually argues can be bothersome.

Owners only have rights to the interior walls of their units. The rest of the structure with the building and the land is shared with other condominium unit owners. Also, unlike townhouses that have verandas, garages, or garden, condo living is fixed to the four spaces of a unit. Families with children will find that it is a challenge to maintain their young confined of their Singapore condos. This is when the club amenities seem useful. There are many Singapore condos that provide excellent amenities besides beautiful units. When purchasing condos, look at the amenities offered 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 expected to resell it. Today, it is easier to purchase a property rather than resell it. Singapore condos relatively have higher market value due to the location; perhaps the resale value remains competitive years following the purchase.

For brand spanking new home owners, condo living still remains a better option and many are willing to overlook the cons.