“Should I buy a condominium or a single family house?” This is one of the common questions that most Singaporeans and people who are planning to live in Singapore ask themselves when looking for a new home. But as we know, condominiums are getting popular these days. Although a condo property is an expensive investment, it’s definitely much cheaper compared to a normal house. Most condominium buildings also offer complete amenities, such as parking and pool areas, which you can use for free if you’re a resident. But despite these benefits, many people are still in doubt if they should buy a unit or not.
But if after several thoughts you’ve decided to purchase a condominium, it’s vital to take some factors into consideration before you purchase and sign any contract. Keep in mind that even though a condo is much cheaper than a comparable house, it’s still considered an expensive investment, so it’s vital to plan and evaluate some conditions before getting one. The following tips will help you find the right condominium in Singapore that you and your family deserve.
Location and Accessibility
One of the first and foremost factors to consider when buying a condo is the place where it is located. In case you still don’t know, Singapore is divided into five regions, the Central, North, North East, East, and West regions. Obviously, the Central Region is where the most commercial and recreational places are to be found. This is also where the well-developed properties are located, including the Marina One Condo and Marina Bay Sands. But of course, while some people prefer to live in a place where there are well-developed infrastructures present, there are some people who prefer to stay in a town that is still surrounded with green and quite surroundings. But if, for instance, you decided to buy a property in a quiet surrounding, ensure that the place has easy access to various types of important services, such as schools, hospitals, shopping malls, and public transportation. Always choose a neighborhood that meets you and your family’s specific needs.
As we know, condominiums are not cheap, so when looking for a condo unit, your budget is an important issue to consider. Ask yourself, “How much are you willing to spend in a condo unit?” Determine your budget, and then ask about monthly fees, interior insurance, taxes, and other fees involved. Also ask about additional cost, if there’s any, such as parking fees. This will help you determine if the unit that you’re planning to purchase is something that you can afford. If not, you can move on to your next prospect, or seek for a financial advice to determine how you can afford it.
Facilities and Services
Of course, one of the most important factors to also consider is the kind of facilities you would want your place to have. Some people would prefer to buy a property with swimming pools and party areas. Some would like to get an easy access to gyms and spa. Your choice will depend on your personal taste. If you want a condominium with function room and exclusive dining areas, then find a place that offers such services. But of course, it is important to note that most buildings with luxurious services are more expensive than those without.