Purchasing An Investment Condo? The Following Is A Manual!

Matters to look for in an Expenditure Condo

A pal of mine called me a couple of months ago, and asked me to offer him a Market Evaluation on his expenditure decision condominium in Singapore. He had purchased a small condo about a year ago, and had accomplished'privately', a determination he now regretted for several reasons. As we were talking about his expense condo, my head moved over the features any investor needs to be searching for when purchasing a condominium, read more here.

1) Location, Location, Loc...
You have heard that earlier. The major three most important items in real estate are....well, you already know. Its different when purchasing an investment condo, or a flat on your personal use. Could it be easy to resell, or does the location hamper your re-sale attempts? When you're likely to let out it, is the condominium located near public transportation channels? Could be your neighborhood safe? Many factors come into play.

2) Parking
Parking, especially in central places such as downtown, is always at a top. Even if you are fortunate enough to lease out your investment condo to someone who doesn't generate their own vehicle, reselling a flat without its parking spot is more difficult.

3) Balcony
Using several apartment-to-condo rate of conversion underway, it's easy to forget about that a balcony is probably one of the absolute most important features asked by consumers. Without having a location to sit down outside, perhaps read a book at the air or toss some steak onto the'que, proprietors and tenants will feel trapped in your own condominium. Make certain that your expenditure decision condo has a balcony , if located on the main floor, it even has a patio space, going here.

4) In-Suite Laundry
Less important with unmarried men, but almost'vital' to female condo customers and tenants. Having a safe place to get your laundry would be also, at the very least, a'good to have' feature.

The above mentioned features are perhaps the most important ones to consider. Depending on your price range, you may want to consider several further:

Reward: Concrete Building
Usually a little more expensive, but well worth the price. Quieter, stronger and stable, an investment decision condo in Singapore with concrete floors and walls will also make for easier resalevalue.

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

Bonus: Secure Parking
Especially with our winter climate, having indoor or subterranean parking is an often-requested feature, albeit at a price premium

Back to my close buddy: his private purchase was a very poor deal, as his investment decision condominium had n one of those features. Located in a demanding part of town, no parking area , no balcony, no laundry and also on the floor free of elevator will make this a difficult sale, even in a popular market.