The Pros And Cons When Residing in Singapore Condos548846
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 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 will be the most evident.
Families and people who consider relocating to a condo will like the amenities including 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 so they make a great investment. Some homeowners today purchase The Linq At Beauty World and lease them to BPO employees. Even though many decide to buy, there is still many who would rather rent.
Adjustment phase: Prepare to fund condominium and association fees
Many condos require payment per month of association fees, that go over 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 would be the obligation from the condo association. The association dues collected from condo unit owners are employed to maintain the facilities and amenities offered by the real estate. These fees vary, but you are almost always not as cheap as property owners would like them being. For a growing family or for single tenants, the condo fees definitely require a toll on their own budget.
Leave behind 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, with respect to the area of the complex. Literally, units are separated by walls. Lucky for individuals who live alongside people who like serenity and peace, but living close to a family particularly with children or close to a couple who perpetually argues could be bothersome.
Owners have only rights towards the interior walls of these units. All of those other structure from the building as well as the land is given to other condominium unit owners. Also, unlike townhouses which may have verandas, garages, or garden, condo living is fixed to the four spaces of a unit. Families with children will discover that it is a challenge to maintain 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 provided to compensate for having less personal space.
When the time comes a condo unit owner decides to offer his unit, it could take longer than anticipated to resell it. Today, it 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 following your purchase.
Achievable home owners, condo living still remains a better option and many are able to overlook the cons.
