Individual house units in the city are almost history in today’s urban world. No one dares to buy a single house in the middle of the city and in most cases; there is no single house in the middle of the city. With the increasing real estate rates and inflation, condos are the new age homes. Basically a condominium is an apartment which you own. Although you own the house area, you have to share the hallways and parking with your fellow owners. This helps the people who have a lower budget to purchase a home.
Buying a new condo is very easy as there are numerous options. But you need to ensure a few things before you make a choice. Many people confuse between the terms “condominium” and “apartment”. In Singapore, a private apartment development will be classified as a condominium if the total site area of the residential development exceeds an area of about 40,000 square feet. Although a new condo is same as a new apartment, normally a condo development may have more communal facilities but may not be located as ideally as a prime city apartment.
The first thing to do is to check as many condo units as possible. When the range of your choices expands, you have better chances of finding a perfect condo. Rushing into buying a condo won’t help you in anyway. Before you go hunting for a new condo, make a list of things that you would need. For example, if recreational facilities are your top most priority, make sure that the development has a swimming pool and gym. You also need to make sure that the building has proper access to shopping malls, eateries, schools and transportation facilities.
There are many reasons for you to buy a new condo or new apartment. You see, apartments and condos in urban areas are in demand. So the apartment in the city will fetch higher monthly rental rate than suburban condo. You cannot do anything to stop it as there are always other willing tenants who are prepared to give that rate. On the other hand, condos are better from individual houses too. When you buy an individual house, you have to mow a lawn, maintain the exteriors of the house and for god’s sake, you would have to paint the compound. Condos will relieve you from all that and will give you all the pleasure which you might have imagined. The main thing to remember while buying a condo is the budget. Never ever choose a new apartment or a condo which you cannot afford. If you do that, it will hurt you badly in the future.
As you know, condos are not really big. So, you need to have space management in each and every place. In kitchen, have a reasonably sized counter-top with essential appliances built in. Make sure that other appliances are space efficient as well. You may not have spacious bathrooms as you might expect. Arrange the toiletries and towels properly and stack the less used item in the closets. Attach a few racks and shelves in your bedroom to make it spacious.