The Pros And Cons When Residing in Singapore Condos8357078

Relocating to a condominium is a dream be realized 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 certainly go through a phase of adjustment after relocating to their new homes. For buyers of Singapore condos, financial changes would be the most evident.

Families and people 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 continue to be more affordable than townhouses or single unit homes plus they make a great investment. Some house buyers today purchase The Linq At Beauty World and lease these to BPO employees. Although decide to buy, there's still many who would rather rent.

Adjustment phase: Prepare to fund condominium and association fees

Many condos require payment per month of association fees, which cover repair and maintenance of common areas of the building. Home owners are only accountable for repairs and maintenance inside their own units. In Singapore condos, most condominium associations set aside 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 provided by the real estate. These fees vary, but are almost always not as cheap as homeowners would like them to become. For a growing family or even for single tenants, the condo fees definitely require a toll on the budget.

Say goodbye to total silence and privacy

Singapore condo unit owners are partners along with the rest of the home owners of the complex. In most cases 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 many who live close to people who like serenity and peace, but living next to a family particularly with children or alongside a couple who perpetually argues can be bothersome.

Owners have only rights for the interior walls of these units. The remainder of the structure with the building and also the land is shared with other condominium unit owners. Also, unlike townhouses that have verandas, garages, or garden, condo living is restricted to the four spaces of a unit. Families with children will see that it is a challenge to keep their young confined in their Singapore condos. This is when the club amenities seem useful. There are lots of Singapore condos that offer excellent amenities besides beautiful units. When choosing condos, consider the amenities offered to compensate for the possible lack of personal space.

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

For first time home owners, condo living still remains a better choice and many are prepared to overlook the cons.