Condos in in Allenby Road, Singapore provide attractive lifestyle options and relieve you of the responsibility associated with maintaining a single-family home. Many may feature amenities like swimming pools and sports clubs.
However, making an informed decision when purchasing a condominium in Singapore involves more than simply considering your budget and location alone. Please read on for key points you must keep in mind before making your purchase decision.
1. Location
Location is extremely crucial to choosing a condo; as it affects price and capital appreciation. Therefore, it is crucial that you select an ideal site based on lifestyle needs and your budget.
Purchase of a condo can be a significant financial investment. Therefore, before making this important decision, be certain that it’s in an area you find desirable and close to your workplace or school, with excellent infrastructure nearby. Consider resale condominiums since they may be more economical. But be wary of maintenance fees and rules of your condominium association!
2. Amenities
Modern condominiums provide comfortable yet stylish lifestyle options, making them a wise investment with high resale values and impressive resale values. Their numerous amenities and facilities also make them highly attractive properties among buyers.
Some amenities offered at these properties include a gym, sauna, pool and function rooms; rooftop gardens and entertainment lounges may be present; playgrounds, jogging tracks and tennis courts may also be provided as recreational amenities.
However, it is important to remember that amenities come at a price. Condos with unobstructed views often command higher purchase prices while properties near refuse stations tend to cost more.
3. Size
Although many buyers prioritize location when purchasing condos, size should also be an important consideration if investing for returns. Condos tend to be smaller than landed properties; however, buyers who can pay extra can opt for larger units.
Size can have an effect on its resale value as well, for instance a 2-bedroom condo will appeal to more buyers than one-bedroom units.
4. Leaseholds
Freehold properties typically command higher market values, yet leaseholds also possess their own distinct advantages. What matters most when considering location is value–for instance, a condominium located within a Central Business District will typically command more in value than one in an outlying district.
Resale leasehold property prices tend to be less vulnerable to lease decay (declination in value due to shortening lease duration) than their freehold counterparts, yet once ownership reverts back to the state. Buyers should therefore carefully consider their long-term plans before seeking advice from a property consultant or lawyer.
5. Transport
Purchase of a condo as an investment can be rewarding, particularly if your goal is to generate passive income through rent. But bear in mind that costs extend well beyond just initial purchase price; they include ongoing maintenance fees and property tax payments as well.
Transport options should also be kept in mind when selecting a condo in Singapore. If commuting regularly is part of your plans, purchasing near an MRT station might be advantageous; similarly if using amenities like swimming pools and tennis courts is on your agenda then select one nearby.
6. Views
Not all condominiums are equal; prices depend heavily on location, property valuation and amenities available in each condo complex. To maximize return on investment consider buying one with great views.
Condos with unobstructed views of the city, river or sea typically come at a premium in terms of pricing. Furthermore, their views can change throughout the day for units near refuse stations and bus stops; to take full advantage of them it would be wise to visit multiple times of day prior to making a decision about purchase.
7. Amenities
Condos often include community facilities like pools, gyms, tennis courts or entertainment lounges that can help keep residents active and socialize with neighbors. Make sure these amenities meet your lifestyle requirements before purchasing a condominium.
Your condo association will take care in maintaining the property for you – meaning fewer worries or hassle for prospective homeowners who don’t have time or desire to maintain their own homes. Although this comes at a monthly fee, this may well be worth investing in as it could save time and effort on maintenance tasks that come up on an everyday basis.