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What are the key points to consider while opting for a condo for sale in Singapore

Executive condominiums were introduced to cater to Singaporeans, especially young graduates and professionals who can afford more than an HDB flat for sale in Singapore but owning a private property out of their budget. Also,Condos for sale in Singapore are comparable in design and facilities as they are developed and sold by private developers. Now there are several facilities for availing a condo rather than other housing options available now a day.

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What are the key points to consider while opting for a condo for sale in Singapore

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  1. What are the key points to consider while opting for a condo for sale in Singapore

  2. Our everyday journey ends at our home, which is the most inviting and self-oriented place and for that, the phrase introduced ‘feeling at home’. So owning a home can be an achievement of one’s life, So you should pursue your dream, as your home will be the love of your heart, so there is a vast option as well as the availability of houses for sale in Singapore, such as; HDB flat, condominium, and private property.

  3. Now each one of them is having different attributes, now here we discuss the benefits and other allocations of going for condos for sale in Singapore, along with the key points to follow: • The pricing • The maintenance charges • Utilities under the maintenance charges • The resale options • The lease options

  4. Introduction of condos • Executive condominiums were introduced to cater to Singaporeans, especially young graduates and professionals who can afford more than an HDB flat for sale in Singapore but owning a private property out of their budget. Also,Condos for sale in Singapore are comparable in design and facilities as they are developed and sold by private developers. Now there are several facilities for availing a condo rather than other housing options available now a day.

  5. The pricing • As per HDB flats, the condos are rather expensive, also, conversely, it's important to measure that you may have to pay a valuation fee of between $300 to $500. But it may differ while the condo is under development, means not readily available for use, in such case the bank may accept the developer's valuation. As for the down payment, that has to be paid in cash, but some banks may subsidize the cost, so the pricing may be different for opting different condos.

  6. The maintenance charges • The purchase price is not the only estimation to consider when you're buying a condo, but also most condos have monthly maintenance fees, which are different for each and every available condo for sale. Also, there are certain charges for the upkeep of the common property, which can be costly and unlike renting an apartment, you'll have to pay property taxes for maintaining a condo, too.

  7. Utilities under the maintenance charges • The most common utilities for condo includes electricity, natural gas, water, garbage pickup, and sewer service. Here some of the maintenance charges for condo goes toward utilities, as most include water supply, garbage clearance, and sewerage, also may include heat or natural gas and a few or rare options of executive condos includes supply of hydro & air conditioning.

  8. The resale options • While you are owning a condo after the initial 5 years, you are allowed to sell your condo to a citizen of Singapore, as in rules there must be at least 1 Singapore citizen or 2 Singapore permanent residents can apply for purchase your resale condo. Also after the initial 10 years, you can sell your condo to a foreigner, so there are no certain conditions for resale while you owned a condo for more than 10 years.

  9. The lease options • Some condo owners choose to live elsewhere and rent out their unit to others, in order to gain a good income out of it, but as each unit is owned by one individual. It's like homeownership, but in case you are in mortgage agreements, that might not allow you to rent your condo, also renting a condo might be unconditional for some HOAs (Home Owner Associations) and for this reasons, renting your condo could be difficult.

  10. Conclusion • So purchasing a condo is much more beneficial than going for rental options, as it is sheer satisfactory owning a self-customized house. While now a day, due to mass development in real estate, which makes condos are vastly available for sale in Singapore, thus it presents you good enough options of choice, as per your need and budget. As condos are inviting and pleasant places to live in, thus if your pocket suits then opting for owning a condo should be your primary choice.

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