Becoming a condo owner is a project that requires in-depth analysis. Various factors ignored when buying can impact your quality of life and budget, there are many new launch condo coming in 2021, Canninghill Piers condo is one the them.
You have everything to gain from asking yourself the right questions before buying. In order to make a conscientious and enlightened investment, here are some things to consider.
- Analyse the contingency fund
The good health of the contingency fund is a key factor to be verified. If the roof of the building were to be redone shortly after your arrival, for example, would the condominium fund pay for repairs, or would you have to pay for several thousand dollars? Informing you about the state of the contingency fund can save you from unpleasant surprises.
Renowned condo developers in Singapore provide fully furnished condominiums to their customers, so that they can shift without hassle.
- Consider the various costs
Various mandatory fees will be added to the cost of buying your condo and the potential renovation costs. Municipal taxes, welcome taxes, assessment fees, notary fees will soon catch up with you and must therefore be budgeted.
- Calculate renovations
You have found your dream condo and now you are ready to move in? congratulations. Instead, you found a rough diamond that will require a little love and hammer blows before it is good to live there? Calculate how much it will cost you before making an offer to purchase. If major renovations are required, you will potentially have to pay large sums. You may then need to spread your project over a few months. Do you have the money you need for the renovations? Will you have to deal with professionals or will you be able to carry out the renovations yourself? Asking yourself these questions will allow you to assess whether this is a realistic project or whether you should instead opt for a home that is closer to your needs and means.
- Study the regulations
The possibility or not to have pets, to make temporary rentals, to invite relatives to the communal pool are just a few examples of rules that can have a direct impact on your daily life and your lifestyle. Find out about the rules in place before you start dreaming of inviting all your friends to the sunny terrace. Are you comfortable and agree with the majority of the rules in place?
- Tame the neighbourhood
Condos usually limit the problems associated with neighbourhood. The luxurious condos of Singapore provide multiple amenities within a reachable range. Sun decks, hot bubble water baths, reputed schools and kindergartens, shopping malls and multi-cuisine restaurants are some of the major highlights of Singapore condos.
You can visit near by shops, green parks and MRT stations within walking distance.
- Go greet the neighbours
If you spot a neighbour during your visit, do not hesitate to talk to them. Creating interactions with people in or near the building will give you a good idea of current neighbourhood life, especially if it’s an important aspect for you. Are they friendly or rather suspicious? While chatting, you could even learn interesting facts about the assets (or issues!) of the surroundings. Unfortunately, you do not choose your neighbours, so it can pay to probe the land and soak up the atmosphere of the neighbourhood before buying.
- Find out more about condominium management
Consulting the minutes of the last boards of directors will tell you a lot about how the building has been managed in recent years and the agreement between the various co-owners.
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