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Merits And Demerits Of Buying A Condo

By Wanda Spillberg


As you look to invest in Singapore, investing in condos are considered as one of the most beneficial and rightfully the best real estate properties that you can consider. As you begin your search for the best condos, you may find that properties in jade scape, Singapore are rightfully the best properties that you can choose from.

As you look to purchase a condo, you must understand that buying owing a condo, you do not owe the land that is present under the building. But, here you are simply sharing an interest in it. What you own, is the space between the walls of your unit, the ceiling and the floors and other amenities that you are provided in the building are under shared ownership.

This also includes your mortgage costs along with other essential bills. People that wish to buy condos are looking for the newly trending green buildings. There are more and more people that are looking to contribute to the environment, by preserving energy, looking for buildings that have solar panels installed in them, make use of efficient appliances and other eco-friendly ideas that can help in the preservation of energy.

Of course finding such houses are going to cost you a bit more, but you will be able to save on the utility costs of the house. Next thing the budget list shall include is the fees needed for the amenity maintenance.

Now, another important thing that one need to consider is that not every individual is very well aware of different factors that it has to go through.Therefore, it is always advised taking the help of a real estate agent.

As you are not living alone in the complex, you are close to other people that can be called for help during emergencies. Additionally, the condos give special consideration to securities and have keyed entries or might provide you with doormen as well. Moreover, as you are living in a community, you will be meeting your neighbours on a regular basis. You will also have to be a part of the association and you will have to coordinate with other owners to come into certain decisions regarding the common areas.

The condos often come with reserved fees and association fees. You will have to pay for the amenities, a fee that you have agreed to and established by the condo management. Irrespective of your interest of using the amenities, it becomes a liability.

Once you complete your research about the condo association and have found the best perfect location in Singapore, next thing that you need to look for is the restrictions and everything that you need to worry about. This becomes very important in case you are willing to make certain changes in it in future. It is important to find out if you are allowed to do that before you move on to execute it.




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