The Pros And Cons When Residing in Singapore Condos960589

Moving in to a condominium is really a dream come true for many young professionals and families today. What many do not realize is that condo living is unique in many aspects. Those accustomed to living in single unit houses will certainly go through a phase of adjustment after moving in to their new homes. For buyers of Singapore condos, financial changes would be the most evident.

Families and folks who consider relocating 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 and they make a great investment. Some house buyers today purchase The Linq At Beauty World and lease these to BPO employees. While many decide to buy, there is certainly 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 responsible for repairs and maintenance in their own units. In Singapore condos, most condominium associations put 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 utilized to maintain the facilities and amenities made available from the real estate. These fees vary, but they are almost always much less cheap as home owners would like them to be. For a growing family or for single tenants, the apartment fees definitely take a toll on their own budget.

Say goodbye to total silence and privacy

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

Owners just have rights towards the interior walls of the units. The remainder of the structure with the building and also the land is given to other condominium unit owners. Also, unlike townhouses which 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 have their young confined inside their Singapore condos. That's where the club amenities seem useful. There are many Singapore condos which offer excellent amenities besides beautiful units. When choosing condos, look at the amenities offered to compensate for the lack of personal space.

When it's time a condo unit owner decides to market his unit, it might take longer than expected to resell it. Today, it really is easier to purchase a property than to resell it. Singapore condos relatively have higher market price 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 willing to overlook the cons.