Purchasing An Investment Condo? The Following Is A Guide!

Things to look for in an Expenditure Condo

A buddy of mine called me a couple of months ago, and asked me to offer him a Market Evaluation on his investment condominium in Singapore. Turns out he had purchased a small condo about a year ago, and had completed so'privately', a decision he now regretted for several reasons. As we're talking about his investment condo, my brain went over the very best features any investor should really be on the lookout for when purchasing a condo, click here.

1 ) ) Location, Location, Loc...
You have heard this before. The best three important factors in real estate are....well, you will know. Its different when purchasing an investment condominium, or a condo on your very own personal use. Might it be easy to resell, or will exactly the location hamper your own re-sale efforts? If you are likely to let out it, may be the condo located near public transportation routes? Is your neighborhood safe? Many factors come into play.

2) Parking
Parking, especially at central locations such as downtown, is always at a premium. If you are lucky enough to lease your investment out condo to somebody who does not push their own vehicle, reselling a flat without its parking area is tougher.

3) Balcony
With a number of flat-to-condo rate of conversion underway, it really is easy to overlook that a balcony remains still probably one of the absolute most important features asked by purchasers. Without a spot to take a seat down outside, perhaps read a book at the air or toss some steak onto the'que, owners and tenants will really come to feel trapped inside your own condo. Make certain that your expenditure decision condo has a balcony or, 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 purchasers and tenants. Having a secure place to get your laundry isalso, at least, a'good to have' feature.

The above mentioned features are perhaps one of the most important ones to contemplate. Based on your price range, you may want to consider several more:

Bonus: Concrete Creating
Usually a bit more expensive, however, well worth the price. More quiet, more solid and stable, an investment 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 significantly more comfortable and easier to lease out.

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

Back for my good friend: His private purchase was a exact poor deal, as his expense condo had NONE of the features. Located in a rough part of the town, no parking area , no balcony, no more laundry and on the 3rd floor free of elevator will make this a exact tough sale, even in a popular market.