Buying An Expenditure Condo? Here Is A Guide!

Matters to look for in an Investment Condo

A pal of mine called me a few weeks ago, and asked me to provide him a Market Evaluation on his expenditure condo in Singapore. Turns out he had purchased a small condo about a year ago, and had done 'privately', a decision he regretted for several reasons. As we're talking about his investment condominium, my mind moved over the top features any investor should be on the lookout for when purchasing a condominium, visit here.

1 ) ) Location, Location, Loc...
You have heard this earlier. The best three most important factors in real estate are....well, you know. Its different when purchasing an investment condominium, or a condo on the personal use. Does it's easy to spend or will the location hamper your own re-sale efforts? When you're planning to let out it, may be the condo located near public transportation routes? Is the area safe? Many factors come into play.

2) Parking
Maneuver, especially in central locations such as downtown, is always at a top. Although you are fortunate enough to lease your investment out condominium to someone who does not generate their own vehicle, reselling a flat without its parking area is more difficult.

3) Balcony
Using a number of flat-to-condo conversions underway, it's easy to overlook that a balcony is probably one of the absolute most important features requested by customers. Devoid of a spot to sit outside, perhaps read a book at the air or toss a few steak onto the'que, proprietors and tenants will probably really feel trapped of their condo. Make certain that your expenditure decision condo has a balcony or, if located around the main floor, then it even has a patio space, read this.

4) In-Suite Laundry
Less important with single men, but almost'vital' to female condo potential purchasers and tenants. Having a secure place to get your laundry isalso, at the very least, a'good to have' feature.

The above 4 features are perhaps one of the most important ones. Based upon Your price range, you may want to consider several more:

Reward: Concrete Developing
Usually a little costly, but well worth the price. Quieter, stronger and stable, an investment condominium in Singapore with concrete floors and walls can also make for easier resalevalue.

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

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

Back to my pal: his private purchase was a very poor deal, as his expenditure condo had NONE of these features. Located in a demanding part of town, no parking area , no balcony, no more insuite laundry and on the floor with no elevator will make this a very challenging saleat a popular market.