If you are a potential home buyer and are yet to decide whether you want a single family home or a condo then this article is for you. People generally settle for condos owing to the fact that the maintenance fees of amenities like pool, garden, lawn, badminton court etc are shared with other residents of the housing complex. However, there are people who are not really interested in sharing the aforementioned facilities with others—meaning they want to enjoy complete ownership of every square inch of the house owned by them. These are the individuals who prefer single family homes instead of condos. Here is a rundown on the factors which you should consider while buying a condo. Read on!
A few points to keep in view while buying a condo!
Location: Location of the condo makes for one of the most important factors judging its suitability. A remotely located condominium – no matter how cheap it is – would ultimately turn out to be an expensive proposition in the long run if you have to avail the help of cars/bus/cabs etc to access the local market place, school and clinic. So, make sure you are zeroing in on an option after considering this factor closely. In this regard, it must be mentioned that d22 lakeside apartment Singapore might turn out to be an ideal choice!
Besides, the location of the complex, make sure you are considering the placement of your own private suite within the complex. For instance, if your suite is situated too close to party rooms, it will lead to inevitable noise concerns. Similarly, the elevation of the suite will affect the street noise factor. Consider lakeville residence at Jurong Lake for a hassle-free living experience!
Cost: The price of the condo varies with several factors including
Though the maintenance (of the amenities, as mentioned above) fee can be shared, it should be remembered it (the maintenance fee) is too high in case of some housing complexes. The high fees should infallibly be added to the mortgage payment for loan approval.
You should secure quotes from several condo owners before zeroing in on your choice. If you are buying a resale unit, then make sure you are closely considering the fees when compared to the similar buildings with units of comparative size.
Rules and Regulations: The usage of the condo facilities is governed by a set of rules and regulations. The Condo Associations are responsible for ensuring that these rules are not flouted. It is very important for a potential condo buyer to understand these rules before buying the property. Needless to mention, an attorney might be of great help. You should also remember the fact that there are a few condo associations which are not approved by lenders owing to several factors.
Neighbors: Unlike detached homes, a housing complex requires you to live in proximity with neighbors. You might as well end up sharing room walls with them as well. Finding out about the neighbors (whether at all you would be co-exist peacefully in the same complex or not) would be critical, as well.
Maryann Wilson is the author of this article. She involved last 4 years in Singapore real estate industry. Here she discussed about lakeville residence at Jurong Lake which is new launch D22 lakeside apartment Singapore