Many people are purchasing condos than ever. And while buying a condo in the city might sound like a wise investment idea, you have to sidestep some pitfalls to avoid making ill-informed decisions about acquiring your unit. The pointers as discussed below will help you save money, time as well as the mental trauma of parting with a huge fraction of your monthly payments on unused maintenance charges.
Pick location wisely
The chances are that you have a rough idea of where you would like to live. However, before sealing the deal, you have to check out the proximity to schools, transit as well as grocery stores. If the neighborhood is not close to relevant amenities, stay away from it like the plague.
Research about developer
Nobody including you should put their faith in a developer with negligible experience otherwise you might end up buying a place that is loaded down by debt. Find out more about those who are behind the construction process as well as management.
Beware of occupancy charges
In some areas, you have to part with occupancy fees during the period that you start occupying your condo. This is unavoidable. Nonetheless, the period will be reduced when you are dealing with expert developers.
Check parking space
If you own a car, then it is a grand idea to select a condo that comes with ample parking. Even if you don’t drive, if you are hunting for a new condo, put the parking space into consideration. When it comes time to sell, you will thank yourself for following this piece of advice.
Evaluate the current residents
Is your potential home comprised mostly of renters? Are they calm or very noisy? Well, the type of residents living in your condo is likely to have some impact on its resale value. And that is not all. The residents will also determine your happiness during your stay. You have to interact with the residents or speak to the staff to sketch the picture.
Meet building staff
If possible, you should meet the people working in the building. The primary reason is that if anything goes wrong with your unit, you will have someone to give you a helping hand within no time. Also, if you need to bend some rules, knowing the right people will make the process a stroll in the park.
Ask/pay for upgrades
If you are parting with lots of cash for a pre-owned condo, don’t be afraid to ask the previous owners if you can include upgrades before sealing the deal. If you are going to for a pre-constructed condo, it pays to invest in the ideal upgrades from the start. You will enjoy the rewards later.
Don’t lose your view
Are other condos being built in the neighborhood? If you notice many sky-high condos under construction threatening to block your spectacular view, the best idea is to steer clear. Tour the neighborhood on foot or check the developer’s website to confirm if the unit you wish to buy has an excellent view. Consider Margaret Ville condos if you need a condo in Singapore.