Buying An Expenditure Condo? There Is A Manual!

Things to Start Looking for in an Investment Condo

A close buddy of mine called me a couple of months ago, and asked me to give him a Market Evaluation on his expenditure condominium in Singapore. He had purchased a small condominium about a year ago, and had done'privately', a determination he regretted for several reasons. As we were talking about his expense condo, my brain moved over the features any investor should be on the lookout for when purchasing a condominium, going here.

1) Location, Location, Loc...
You have heard this earlier. The leading three important points in real estate are....well, you will know. Its no different when purchasing an investment condo, or a condo on the personal use. Does it be easy to resell, or will exactly the location hamper your re-sale initiatives? If you're planning to let it out, could be the condo located near public transportation channels? Is the neighborhood safe? Many factors enter into play.

2) Parking
Maneuver, especially at central places such as downtown, is always at a premium. If you are fortunate enough to hire your investment out condominium to someone who doesn't generate their own vehicle, reselling a flat without its parking area is more difficult.

3) Balcony
Using several flat-to-condo conversions underway, it's easy to overlook that a balcony is perhaps one of the absolute most important features requested by buyers. Without having a spot to sit outside, perhaps read a publication at the brand new air or toss a few steak to the'que, owners and tenants will probably feel trapped inside their condo. Make sure your expenditure condominium has a balcony , if located on the main floor, then it even has a patio space, website.

4) In-Suite Laundry
Less important with guys, but almost'vital' to female condominium potential buyers and tenants. Having a protected place to do your laundry isalso, at the very least, a'nice to have' feature.

The above 4 features are perhaps one of the most important types. Based on your price range, you may want to consider several further:

Bonus: Concrete Creating
Usually a bit costly, but worth the purchase price. More quiet, stronger and stable, an expenditure condominium in Singapore with flooring and walls can also make for easier resale.

Reward: Central Air
Central air conditioning and heating is yet another nice-to-have feature, making the condominium significantly more comfortable and easier to lease out.

Bonus: Safe Parking
Especially together using all our winter climate, having indoor or underground parking is still also an often-requested feature, albeit at a cost premium

Back to my buddy: his private purchase was a exact poor deal, as his expenditure condominium had NONE of those features. Located in a rough part of the town, no parking spot, no balcony, no more laundry and on the floor with no elevator can make this a difficult salein a popular market.