Do you have plans to buy a condominium? That sounds awesome as condos make great investments, especially for long-term. However, buying a condo is a sizeable investment. There are a lot of things to take care of while buying a condo.
Get a market survey
You must take a thorough survey before making the final call. Get in touch with a seasoned real estate agent who holds strong knowledge in condos. Your real estate agent will suggest you the best potential areas and developments to ensure a sizeable ROI for you.
Look for CPF grants
Some of the new high-end condos in Singapore are coming up with CPF grants for buyers. Look for a condo that offers you the said facility. You can take to the spectacular Sumang Walk EC development here. It’s a fascinating waterfront property and carries CPF grants.
Check out condo association fees
Every condo is administered by its own condo association that takes care of the maintenance. In return, the association charges a monthly fee from the condo owners. The association fee may vary from one condo to another. Thus, you should always check out the condo association fees beforehand prior to making any decision. If the fee seems to be too high, you can always look for another option.
Check the restrictions
You should always check out the restrictions posed by your chosen condo beforehand. For example, some condos may have restrictions on allowing pets inside. If you are a pet-parent, such condos are certainly not for you. Don’t forget to check out the restrictions on crucial aspects like driving space, access to swimming pool, clubhouse and so on.
Finally, you should ask yourself the purpose of buying a condo. Do you want to stay or get tenants for it? Then, a condo will be a fantastic investment option. But if you have plans to sell it off quick, then condo may not be a smart choice.