How Newly Released Condo Properties Could Be Beneficial For You?
If you are a property investor or dealer, you would be very familiar with the benefits of investing in a newly released condo project. Once the project is declared and its pre-booking is open, anyone can pay and book a flat at the condo for a much cheaper price than it will be sold when the project is constructed and ready.
Most of the construction projects could take anywhere between 1 to 5 years, and if you are interested in buying a cheap property that you can hold for five or more years, then you should invest in such construction projects. Those who are planning to buy a house in the distant future should look for the condo floor plan based on which you can decide to buy a property at a reasonable price in advance.
Benefits One Can Enjoy By Buying A Constructed Or Resale Flat
But if you are looking for a property to move in immediately, then you can either buy a flat at a constructed condo in Singapore or otherwise, you can also think of buying a resale property. Both of these have different benefits, but for an investor, a readymade flat can always get you rent immediately, unlike a not constructed property which could take years to get ready for living.
Moreover, if you are buying a constructed property, you can actually visit it and realize the actual construction and if it would be best suitable for your requirements. Hence, a constructed property is much better for those who wish to have immediate benefits, whether moving in, renting or resale.
Freehold Property Or Leasehold – Which Is Better For You?
Many people are unaware of this, but they should know that there is a freehold property or a leasehold property. It is crucial that you understand the difference between them and then choose what kind of property you are willing to invest in. Freehold property would be your forever after you buy it, and it can be passed on from generation to generation for eternity.
Meanwhile, a leasehold property is one that is bought for a fixed period of time; typically, there is a 99 years leasehold property or a 999 years leasehold property. Once the time period of these properties ends, their ownership is given back to the state.
And because of these reasons, there is a significant difference in the pricing of respective properties, and you can find a good deal if you know how to evaluate a property.
What Else Should You Consider While Buying A Flat At A Condo?
When you are buying a property, it is obvious that you will choose the one that is located in a decent vicinity. Some people prefer the place that is near to their job, and others seek a peaceful locality and this way everyone has their own choices. But nowadays, people value a property based on many other factors as well. Some of them are as follows:
- For families, it is helpful if there are many green pockets around their house any older people and kids would like to spend most of their time outside the home. So, parks, gardens or small farms could be delightful.
- Recreational options should be available in the society, such as swimming pools, sports courts, indoor game areas, gym, etc.
- Furthermore, you must ensure that services like a security guard, surveillance cameras, or elevator must be available for your use. These are some essential services provided by the management.
- The clubhouse of the condo should be available so that people can organize some meetings or other occasional gatherings there.
- Adequate parking areas for the individual resident of the building are necessary.
- And finally, it would be helpful if prominent services like school, hospital, and market are available in the vicinity.
Realization Of The Condo Floor Plan Is Necessary
Those who are going to book properties on a newly released project should ensure that the floor plan they are going to choose must be practical, and you should have a practical realization of the plan in some way. It is important because then only you will have a much clear picture of the final project