The Pros And Cons When Residing in Singapore Condos5363640
Relocating to a condominium is really a dream become a reality for many young professionals and families today. What many do not realize is that condo living is different in many aspects. Those accustomed 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 folks who consider transferring to a condo will love 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 house buyers today purchase The Linq At Beauty World and lease these to BPO employees. While many decide to buy, there is certainly still a majority who would rather rent.
Adjustment phase: Prepare to pay for condominium and association fees
Many condos require payment per month of association fees, which cover repair and maintenance of common regions of the building. Home owners are only accountable for repairs and maintenance of their own units. In Singapore condos, most condominium associations put aside 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 employed to maintain the facilities and amenities made available from the real estate. These fees vary, but are almost always less cheap as property owners would like them to become. For a growing family or perhaps for single tenants, the apartment fees definitely take a toll on their budget.
Say goodbye to total silence and privacy
Singapore condo unit owners are partners along with the rest of the home those who own the complex. In most cases there will be a lot more than four condo units in each floor, depending 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 next to a family particularly with children or alongside a couple who perpetually argues may be bothersome.
Owners have only rights towards the interior walls of the units. The remainder 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 limited to the four spaces of your unit. Families with children will find that it is a challenge to maintain their young confined inside their Singapore condos. This is when the club amenities seem useful. There are many Singapore condos which offer excellent amenities apart from beautiful units. When purchasing condos, look at the amenities agreed to compensate for having less personal space.
When the time comes a condo unit owner decides to sell his unit, it may take longer than expected to resell it. Today, it's easier to obtain a property rather than resell it. Singapore condos relatively have higher market value due to the location; perhaps the resale value remains competitive years after the purchase.
For brand spanking new home owners, condo living still remains a better choice and many are willing to overlook the cons.