Purchasing An Investment Condo? There Is A Guide!
Matters to Start Looking for in an Expenditure Condo
A friend of mine called me a couple months ago, and asked me to offer him a Market Evaluation on his expense decision condominium in Singapore. He had purchased a small condo about a year ago, and had performed'privately', a choice he regretted for several reasons. As we were talking about his expenditure condo, my thoughts moved over the features any investor needs to be looking for when purchasing a condo, read more.
1 ) ) Location, Location, Loc...
You have heard this before. The leading three most important items in real estate are....well, you know. Its different when purchasing an investment condo, or a flat on the own personal use. Will it's easy to resell, or does exactly the location hamper your re-sale initiatives? If you're planning to let it out, is your condominium located near public transportation channels? May be the neighbourhood safe? Many factors enter into play.
Maneuver, specifically in central places such as downtown, is always at a top. Although you are lucky enough to lease out your investment condo to someone who does not drive their own vehicle, reselling a condo without its own parking spot is tougher.
With a number of flat-to-condo rate of conversion underway, it really is easy to forget that a balcony is probably one of the most important features asked by potential buyers. Without having a location to sit down perhaps read a book in the air or throw a few beef onto the'que, proprietors and tenants will come to feel trapped of their condo. Make certain that your expenditure decision condo has a balcony or, if located on the main floor, it even has a patio space, going here.
4) In-Suite Laundry
Less important with unmarried adult males, but almost'vital' to female condominium potential buyers and renters. Having a secure place to get your laundry would be also, at the very least, a'nice to have' feature.
The above mentioned features are perhaps one of the most important ones. Depending on your price range, you may want to consider several more:
Reward: Concrete Creating
Usually a bit costly, but really worth the price. More quiet, stronger and stable, an investment condo in Singapore with flooring and walls can also make for easier resalevalue.
Bonus: Central Air
Central air conditioning and heating is another nice-to-have feature, making the condo more comfortable and easier to lease .
Reward: Protected Parking
Especially with all our winter climate, having underground or indoor parking is still an often-requested feature, albeit at a price premium
Back for my pal: his private purchase ended up being a very poor deal, as his expenditure condo had n one of the features. Located in a demanding part of the town, no parking area without a balcony, no more insuite laundry and also on the next floor with no elevator is likely to make this a difficult saleat a popular market.