The Pros And Cons When Living in Singapore Condos1944994
Transferring to a condominium is a dream be realized for many young professionals and families today. What many don't understand is that condo living differs in many aspects. Those familiar with living in single unit houses will surely go through a phase of adjustment after moving in to their new homes. For buyers of Singapore condos, financial changes will be the most evident.
Families and people who consider moving to a condo will love the amenities such as swimming pool, gym, basketball court, or tennis court. Accessibility-wise, most Singapore condos have reached locations near supermarkets, offices, schools, and hospitals.
Condos are still more affordable than townhouses or single unit homes and they make a great investment. Some house buyers today purchase The Linq @ Beauty World and lease them to BPO employees. While many decide to buy, there's still many who would rather rent.
Adjustment phase: Prepare to pay for condominium and association fees
Many condos require payment of association fees, that go over repair and maintenance of common aspects of the building. Property owners are only responsible for repairs and maintenance inside their own units. In Singapore condos, most condominium associations reserve a fund for future expenses. General and exterior repairs will 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 they are almost always much less cheap as homeowners would like them to become. For a growing family or perhaps for single tenants, the condo fees definitely have a toll on their budget.
Bid farewell to total silence and privacy
Singapore condo unit owners are partners with the remainder of the home those who own the complex. Typically there will be greater than four condo units in each floor, with respect to the area of the complex. Literally, units are separated by walls. Lucky for many who live next to people who like serenity and peace, but living alongside a family especially with children or close to a couple who perpetually argues could be bothersome.
Owners have only rights for the interior walls of these units. The rest of the structure with the building and the land is shared with other condominium unit owners. Also, unlike townhouses which have verandas, garages, or garden, condo living is restricted to the four spaces of the unit. Families with children will discover that it is a challenge to keep their young confined in their Singapore condos. That's where the club amenities seem useful. There are lots of Singapore condos that offer excellent amenities aside from beautiful units. When purchasing condos, consider the amenities agreed to compensate for the possible lack of personal space.
When the time comes a condo unit owner decides to market his unit, it might take longer than anticipated to resell it. Today, it is easier to buy a property rather than resell it. Singapore condos relatively have higher market value due to the location; the resale value remains competitive years after the purchase.
Achievable home owners, condo living still remains a better choice and many are willing to overlook the cons.