10 Advantages of Having Your Own Condominium
Every year, property developers introduce residential buildings that cater to numerous condominium units. A number of Singaporeans and even expats are attracted to the idea of buying their own unit from these providers. When asked of their reasons, future condo owners cite the following benefits.
Proof of financial capacity. In Singapore, not all individuals can be allowed to purchase condominiums or avail flat loans. Prior to approval of the purchase agreement, the developers will have to check the integrity of the prospect buyer along with his or her credit history. Because of this, having your own condominium will support your financial strength. Accordingly, condominium receipts can be used as proof of billing for other bigger transactions.
Investment potential. Agents during new condo launch singapore orient buyers of the investment potential of these properties. Whether the client will opt to sell out the unit once the value increases or if he or she prefers to rent it out to other customers, income generation using the condominium will be truly rewarding.
Amenities and facilities. Modern condos in Singapore are equipped with state-of-the-art indoor and outdoor sports facilities, massage centres, bars, pools and even gaming areas and usage of these amenities is free for the condo owners and tenants.
Exclusive invites. Condominium homeowners and developers usually throw amazing parties in the city-state’s metropolis. Such events become talk of the town due to the impressive guest list, food and fireworks spectacle. Unfortunately, these events are not open for the public. Hence, by owning a quality condominium, citizens can gain gate pass to join parties which were originally unreachable for them.
Control expenses. Instead of spending their hard-earned money on monthly apartment rent, condo owners can now use this money in paying their property. Also, new condo owners can better manage their expenses since they will no longer be shocked by sudden rent increase.
Accessibility. Most condominiums in Singapore are built near important public places like markets and shopping malls and major transportation services like the MRT. Popular restaurants and hospitals also flank the vicinity of these residential buildings. Consequently, by living in a condominium, Singaporeans can avail basic commodities at a stone’s throw away.
Security. Condo owners are safe from the danger of muggers and harassers since their buildings are equipped with 24-hr CCTV services, security guards and even guard dogs. Aside from this, non-tenants are also required to log in their names in the guest book in order for the management to document the strangers who visit their property.
Privacy. Despite its limited floor size, condo units are areas which the owners can call as their own. Within its premises, the owner is secluded from the hustle and bustle of Singaporean lifestyle. This means that an owner is allowed to be as lousy or as energetic as he or she wants to be since the condominium offers him or her isolation that other apartments neglect.
Cleanliness. Condominiums are routinely inspected by sanitation and environmental officials to ensure that the health of the tenants is prioritized by the management. The results of such monitoring are reflected in organized garbage collection, water and acoustic testing and air sampling.
Independence. Young professionals and students can start establishing their independence by living in condos. Once they leave their parents and transfer to a separate unit, these people will learn to organize their furniture, clean the house and prepare food.
Condo living offers numerous advantages. Although the process of acquiring a condominium is strict in Singapore, this article justifies that the benefits of condo living truly outweigh the costs.