It is important to know what are the important things we should consider while buying a new condo home. A condo provides a lot of convenient and facilities.
What To Keep In Mind While Buying New Condo
It depends! To judge, here are three main things to look for in order to measure your investment, whether it’s a condominium or a single-family home.
Being a homeowner means that you will inevitably have to pay for maintenance as well as for your property rights.
On the house side, several maintenance costs come into play. Some renovations and maintenance work will be required. This implies the purchase of important equipment (clipper, basic tools), or steps to entrust the whole thing to a subcontractor. This may cost you more, depending on your budget and the value you place on your time.
In the condo, in addition to some renovations, it will add to your calculations an amount for co-ownership fees. These costs include the costs for the management and maintenance of the common areas, as well as a provident fund.
As for taxes and transfer taxes, they are calculated in the same way, whether it is a condo or a house.
Return on investment
In real estate, several factors influence the return on investment, the main one being the location. The market differs from one city to another, and even from one district to another.
Take, for example, statistics for May 2018 collected by the Quebec Federation of Real Estate Boards (QFREB). In particular, condominium sales in the Montreal area have benefited sellers, as has the sale of single-family homes in the Gatineau region.
In many cases, the condo has the advantage of providing access to certain attractions, for example, a swimming pool or a gym. As for the house, you own your own land and generally a better intimacy. However, the costs of having access to certain amenities, such as a swimming pool, are substantial.
The bottom line is that a good quality of life is worth the money. By choosing your second or third choice, you could save a few dollars in the immediate future, but you may regret it later and re-start, thus cancelling your savings.
New Condo Plan Singapore
There are many new condo launches in Singapore. Singapore has become a business hub in Asia. If you are planning to move to Singapore. Treasure at Tampines condo offers the best condominium in Tampines area in Singapore. You have all the facilities near you and your new work location.
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