Purchasing An Investment Condo? The Following Is A Manual!

Matters to look for in an Expenditure Condo

A friend of mine called me a couple weeks ago, and asked me to offer him a Market Evaluation on his investment decision condominium in Singapore. He had purchased a small condo about a year ago, and had performed'privately', a decision he regretted for several reasons. As we're talking about his expense condo, my head moved over the very best features any investor needs to really be searching for when purchasing a condominium, read more here.

1 ) ) Location, Location, Loc...
You've heard that before. The leading three important things in real estate are....well, you know. Its no different when purchasing an investment condo, or a flat on your very own personal use. Could it be easy to spend or does the location hamper your re-sale attempts? When you're going to let out it, may be your condominium located near public transportation routes? Is your neighborhood safe? Many factors enter into play.

Two ) Parking
Parking, specifically at central locations such as downtown, is always at a top. Even if you are lucky enough to lease your investment out condo to somebody who does not generate their own vehicle, reselling a flat without its parking spot is harder.

3) Balcony
Using a number of flat-to-condo rate of conversion underway, it really is easy to forget about that a balcony is perhaps probably one of the most important features requested by potential buyers. Devoid of a spot to take a seat outside, perhaps read a book at the brand new air or toss a few beef to the'que, proprietors and renters will really feel trapped of your own condo. Make sure your expense condo has a balcony or, if located around the main floor, it has a patio space, click here.

4) In-Suite Laundry
Less important with adult males, but almost'vital' to female condo buyers and renters. Having a safe place to do your laundry is, at least, a'good to have' feature.

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

Bonus: Concrete Building
Usually a bit expensive, but well worth the price. Quieter, stronger and stable, an investment condo in Singapore with concrete flooring and walls will 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.

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

Back for my friend: His private purchase ended up being a very poor deal, as his expenditure condo had NONE of the features. Located in a rough part of the town, no parking spot, no balcony, no laundry and on the next floor with no elevator will make this a hard sale, even in a popular market.