Buying An Expenditure Condo? The Following Is A Guide!

Matters to Start Looking for in an Investment Condo

A close friend of mine called me a few weeks ago, and asked me to provide him a Market Evaluation on his investment condo in Singapore. Turns out he had purchased a small condo about a year ago, and had carried out'privately', a determination he now regretted for several reasons. As we're talking about his expenditure condo, my brain moved over the features any investor should be searching for when purchasing a condominium, view source.

1) Location, Location, Loc...
You've heard this before. The leading three most important things in real estate are....well, you already know. Its no different when purchasing an investment condo, or a flat on the own personal use. Will it's easy to resellor will the location hamper your own re-sale initiatives? If you are likely to let out it, may be your condominium located near public transportation routes? Could be the neighbourhood safe? Many factors come into play.

2) Parking
Maneuver, especially in central locations such as downtown, is always at a premium. Although you are lucky enough to rent out your investment condominium reselling a flat without its parking spot is more difficult.

3) Balcony
With several apartment-to-condo conversions underway, it is easy to overlook that a balcony remains one of the absolute most important features requested by customers. With out having a location to take a seat down perhaps read a book in the air or toss some beef to the'que, proprietors and renters will probably come to feel trapped of the condo. Make sure your expenditure condo has a balcony or, if located on the main floor, then it even has a patio space, get more info.

4) In-Suite Laundry
Less important with unmarried males, but almost'vital' to female condominium purchasers and renters. Having a protected place to do your laundry would be also, at the very least, a'good to have' feature.

The above 4 features are perhaps the most important ones. Depending on your price range, you may want to consider several further:

Bonus: Concrete Developing
Usually a bit more costly, however, worth the price. Quieter, more solid and stable, an investment condominium in Singapore with concrete flooring and walls will also make for easier resalevalue.

Bonus: Central Air
Central air conditioning and heating is another nice-to-have feature, making the condominium significantly more comfortable and easier to rent .

Bonus: Secure Parking
Especially with all our chilly climate, having indoor or underground parking is also an often-requested feature, albeit at a cost premium

Back for my friend: his private purchase was a very bad deal, as his investment condominium had NONE of these features. Located in a demanding part of town, no parking area , no balcony, no insuite laundry and also on the next floor free of elevator is likely to make this a difficult salein a hot market.