When it comes to buying a condo in Singapore, there are many factors to consider. If you are on a work permit, you may consider renting a property as opposed to buying one. This is especially if you’re not sure of your job situation. Alternatively, if you have a permanent job in Singapore or you are a permanent resident and plan on making this your home, then purchasing a condominium is something you should consider. They are many advantages to owning a condominium and here are some of them.
Condominiums are usually situated in good locations. This means areas are well developed and have access to local amenities such as schools, shopping centers, hospitals and clinics, tourist attractions as well as restaurants and eating establishments.
Lots of condos also have around-the-clock security guards as well as CCTV systems and automatic gates that can only be accessed by residents who have access to remote control.
Condos are managed by a body corporate or a building management board. This way, you can be sure that the property will always be well-maintained as well as all of the facilities that it offers. Citizens are usually asked to pay a monthly maintenance fee to ensure that the services are well-taken care off.
Lots of condos especially the new ones are being developed for convenience and have facilities such as fitness stations, tennis, and squash courts, function rooms, meeting rooms, swimming pools, Jacuzzis and saunas as well as by braai facilities and covered parking. In addition to this, you will notice that condominiums are landscaped and are visually appealing.
Once you purchase a condominium, you become a part of the building Association, and therefore you have authority to put forward issues pertaining to month activities and maintenance as well. If you ever decide to sell your condominium, you can either choose to sell it as part of the entire condo development and gain a higher profit or you can sell it individually. The point is that you have more options as a condominium owner available to you.
So if owning a condominium is something that has been on your list for quite some time, ensure that you do your homework and shop around for the ideal condominium. Ensure that it is in an area that is convenient for you, ensure that it is in your budget and also ensure that it is something that you will be happy with it. Since buying a luxury condo in Singapore is a long-term investment and something that cost a lot of money, you need to make a well-informed decision.
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