Buying An Expenditure Condo? The Following Is A Information!
Matters to Start Looking for in an Investment Condo
A friend of mine called me a couple of months ago, and asked me to provide him a Market Evaluation on his investment condominium in Singapore. Turns out he had purchased a small condominium about a year ago, and had accomplished so'privately', a choice he regretted for several reasons. As we're talking about his expenditure condominium, my brain moved over the features any investor should be on the lookout for when purchasing a condominium, visit.
1 ) ) Location, Location, Loc...
You've heard that before. The major three important items in real estate are....well, you already know. Its no different when purchasing an investment condo, or a flat on the very own personal use. Might it's easy to spend , or can exactly the location hamper your own re-sale attempts? When you are likely to rent it out, may be the condominium located near public transportation channels? Is your area safe? Many factors enter into play.
Two ) Parking
Parking, specifically in central locations such as Down Town, is always at a top. If you are fortunate enough to rent your investment out condo to somebody who doesn't generate their own vehicle, reselling a condo without its own parking area is tougher.
3) Balcony
With several flat-to-condo conversions underway, it really is easy to forget about that a balcony is still probably one of the absolute most important features asked by consumers. Without a spot to take a seat down outside, perhaps read a book at the brand new air or toss a few steak on the'que, owners and tenants will come to feel trapped of the condominium. Make certain that your expense condominium has a balcony or, if located on the main floor, then it has a patio space, homepage.
4) In-Suite Laundry
Less important with unmarried males, but almost'vital' to female condo customers and tenants. Having a safe place to do your laundry would be also, at the very least, a'good to have' feature.
The above mentioned features are perhaps the most important types to think about. Depending upon Your price range, you may want to consider several more:
Bonus: Concrete Developing
Usually a little expensive, but worth the purchase price. Quieter, more solid and stable, an expenditure condo in Singapore with concrete flooring 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 significantly more comfortable and easier to lease out.
Bonus: Safe Parking
Especially with our chilly climate, having indoor or underground parking is 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 condo had NONE of the features. Located in a demanding part of the town, no parking area , no balcony, no more insuite laundry and on the floor free of elevator is likely to make this a exact difficult salein a hot market.
