Singapore is a fast-growing island, and this means the demand for real estate is high. Owning property in Singapore is the dream of everyone. Condos are a popular form of housing because not everyone can own a stand-alone house. The Margaret Ville condos are a good option because they are located near all the social amenities.
There are many developers in Singapore selling condos, and it might be challenging for buyers to make a choice. Here are some of the important tips to keep in mind before you make that purchase:
Value of property around
You need to consider the value of the property around the condo that you want to buy. Making a good valuation will help you determine whether the price of the property is worth it. The selling price of the condo should at least be equivalent to properties in the surrounding areas.
Knowing the value of the property is also a good way to determine the chances of growth. When buying a condo for speculative reasons, you need to be sure that it will fetch you a good price shortly. Buying a condo in an area with high-value properties is always a good idea.
When buying a condo in Singapore it is important to take time and evaluate the developer. The track record of the developer will help you determine the kind of property that you are likely to get. This is especially true when buying property off-the-plan.
Take time and check past projects of the developer. If the developer has a reputation for developing sub-standard projects, then this is a red flag. A good developer should also have a good financial backing to support the project.
Once you buy the condo, you will need to remember that is not the end of the story. It is important to understand the long-term maintenance. Most of the developers will continue with maintaining the condo, but some developers might shift the maintenance of the condo.
You need to read about the terms of maintenance, fees, and other fine details. Make sure that you take time and read the fine print. If you are not comfortable with the long-term maintenance, then it makes no sense to buy the condo.
It is important to consider the amenities and facilities that are near the condo. You should buy a condo that is near all the facilities that you might need like schools, shopping malls, hospitals and other amenities.