Image source: wingwire.com
Why do people keep on buying condominiums? Here are some common reasons:
- “I need to buy a condo that is near my work place”
- “I want to be independent and stay in the city and/or away from home”
- “I want to move to a condo for the safety of my family”
- “I just wanna buy a condo for future use”
Does having those reasons are enough to just buy a condominium? Come to think of it, many of us are dreaming of living in a condo as we imagine that living in such a home makes us feel more comfortable, especially in terms of security; sometimes we think that a condo is something that others may see as a symbol of a luxurious life. That way of thinking makes other people just go on ahead and buy a condo without even having a second thought or checking the most important components (value, location, amortization, etc.) of buying a property. And when the deal is already done, you might tell yourself “Oh boy…why did I buy this condo? It’s more trouble than it’s worth”. So before your decision makes you miserable (errr..), in this article, I’ll give you some pointers you must know before buying a condominium.
Oh yes, this is the most important, folks. You must know the location first. If you’re looking for a condo for the sake of your work, well of course you must choose a condo located somewhere near your work place or at least around the area. Also, you must consider the availability of transportation. If you find a condo that is only a walking distance away from your work place, the better. If not, at least it should be near or a few steps away from an MRT/train station or the bus stop. Kallang Riverside in Singapore is one of the great choices. But if you’re not living in Singapore and you own a car, traffic is your enemy.
Also consider if there are convenient stores nearby. By any chance, if you just want to buy a condo to be independent, a place around the city is the best choice, since all you need (I guess) are already there like Malls and theme park.
Now that you know the right location, hurray! Come inside and look around the place. Ask for an agent who can tour you around. Usually, condos have their own swimming pool (some have their main pool, lap pool, children’s pool, and Jacuzzi), gym, BBQ pits, sauna, and playground. Luxurious condos also have clubhouses, function rooms, tennis courts, gymnasium, bar and restaurant, and open terrace. Choose a condo that has all your needs. If you have a strict budget, still go to a place with enough amenities to make everything worth the pay. In addition, the ambiance outside the window may also help to take away your stress so if possible, choose a best spot where you can see the view of the city or the lush greenery outside your window.
This is also very important; security is a must when choosing a condo. 24-hour security surveillance/CCTVs around the building are bare minimum. You can ask your agent for more details about this.
Consider buying a condo in terms of the future. We can say that buying a condo is easy; as long as you know what you like, it has all you need, and as long as you have the budget for it, you’ll be OK. Selling a condo is the hardest, though. When the time comes that you need to move for whatever reason, there is no sure-fire way to easily sell it. Selling a small unit may be difficult while larger units may cost a little more, but it will return a greater amount. Most importantly, as long as you take care of the unit carefully, or lavish it up, you will only be adding value to it and thus bigger returns. Recall all you did when you were the one searching for a condo; you might use it as an asset of your unit. “It was a great place! I can see the whole city outside my window and it was really relaxing. There are convenient stores and theme parks nearby. Also, there are a lot of facilities around that you might enjoy,” or something to the like might get might buyers’ attention.