The concept of condominium ownership is like seeing an apartment that you own (in fact, many condominiums came from flats). Their property extends into the interior walls, floors, and ceilings. Also, you are a partner, with all other owners in the complex, the field structure (the foundation, exterior walls, and roof), and all common areas and services (for example, swimming pools, Clubhouses, tracks tennis, play areas, etc.) Looking for Singapore property deals? Visit this link.
One of the requirements for condominium ownership is to pay a monthly fee for the condo, which is for general repairs and maintenance to the common areas of the complex and (hopefully) create a reserve for unforeseen circumstances. All outside repair and maintenance are the responsibility of the condo association, although you are charged for them, either through their associated costs or a special assessment (when ranked by all owners, For instance, a new roof).
The association likewise charges the typical day to day upkeep (some examples are cutting turf, shoveling snow and maintaining the swimming pool). Interior repair and maintenance (for example, changing a dishwashing machine) are the duty of each owner.
A condominium may be the best option that fits your budget. The reason for this is simple. In general, the same square feet will cost less in a condominium scenario rather than a single family house, mainly due to land cost - you can build condos more than you can in single family homes, For the same amount of land.
Advantages 1. You will be responsible for little or no exterior maintenance or repairs. 2. Many condominium communities offer amenities (swimming pools, playgrounds, tennis courts, etc.) that cannot be afforded by the averaged consumer 3. Condos are often in places suitable for employment centers and shopping. 4. Condos are usually more reasonably priced than other forms of housing. Looking for Singapore online property portal? Visit this link
Disadvantages 1. You will be responsible for paying fees to condominium associations. 2. You have lesser privacy compared to single family homes and townhouses. 3. You only own internal walls. The other condominium owners commonly own the rest of the structure and all of the land. Looking for the best priced condo’s in Singapore? Check direct home.
Is a condominium for you? * You want absolutely nothing to do with the outside maintenance and repairs. * You like the idea of amenities (swimming pools, tennis courts and the like), but you do not like the idea of having to pay for them on their own. * You like the security of the many nearby neighbors. Check out buy singapore property for the most affordable condominiums near you.
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