Purchasing An Investment Condo? Here Is A Manual!

Things to Start Looking for in an Investment Condo

A good 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 condominium about a year ago, and had completed 'privately', a choice he now regretted for several reasons. As we were talking about his expense condominium, my mind moved over the features any investor should really be on the lookout for when purchasing a condominium, home page.

1 ) ) Location, Location, Loc...
You've heard this before. The best three most important items in real estate are....well, you will know. Its different when purchasing an investment condominium, or a flat for your very own personal use. Could it be easy to resell, or will exactly the location hamper your own re-sale initiatives? When you should be going to let out it, is your condo located near public transportation routes? Is the area safe? Many factors enter in to play.

2) Parking
Parking, specifically at central places such as downtown, is always at a premium. Even if you are fortunate enough to lease your investment out condo reselling a condo without its own parking area is more difficult.

3) Balcony
With several apartment-to-condo rate of conversion underway, it's easy to forget that a balcony remains still one of the most important features asked by buyers. Devoid of a location to take a seat outside, perhaps read a publication at the fresh air or toss a few beef to the'que, proprietors and tenants will truly feel trapped in the condo. Make certain that your expense condo has a balcony , if located around the main floor, then it has a patio space, going here.

4) In-Suite Laundry
Much more important with guys, but almost'vital' to female condominium buyers and renters. Having a secure 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 Constructing
Usually a bit costly, however, really worth the price. Quieter, more solid and stable, an expenditure decision condominium in Singapore with concrete flooring and walls can also make for easier resale.

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

Reward: Safe Parking
Especially using our chilly climate, having indoor or underground parking is also an often-requested feature, albeit at a cost premium

Back to my buddy: his private purchase ended up being a very inadequate deal, as his expenditure condominium had n one of these features. Located in a demanding part of town, no parking area , no balcony, no insuite laundry and on the 3rd floor free of elevator will make this a exact difficult saleat a hot market.