Answering few questions to buy best Condo unit When it comes to making investments, certain factors like thorough knowledge, skimmed analysis, clear understanding, and finance are important. You can easily make investments, if you are confident about the particular project. One out of such promising projects is condominiums, in which people are making investments on a larger basis. Specially, the condos in Singapore have capably been able to attract several investors for making the fruitful investments.
If you are also planning to invest in any condominium unit, but are confused whether it would prove promising or not, then you would definitely find here a perfect solution for that. It is said that to decide upon certain factors, asking questions to one self helps in realizing its relevance & importance. So, here those important questions have been taken, and this would make you take a perfect decision.
The questions that would make you lead to best-suited answer:
1. Start with questioning about the budget Whenever it comes to making investment, budget plays an important role. Money for investment has to be taken out after considering all the expenses and necessities. This would ensure that investment would not affect the financial condition. Moreover, budget would also make you decide upon the condominium project accordingly.
To understand it better, let us take up an example. Suppose you are planning to invest in New Punggol Condominiums in Singapore. You first have to confirm about the price of the units and then would accordingly decide whether it would suit your pocket or not. However, one another factor that you need to consider is that with condos there are loads of other expenses you would have to bear, so make space for that as well.
2. Is the time perfect for investment? Investment is a very critical domain, and one has to be smart enough to identify the right time for making it. You would have to detect carefully the time, when by investing the money, you could fetch good returns on investment. Invest in the property, when the market is down as you might get affordable deal then. However, in present real estate scenario, the market of condominiums is high and thus, new projects like Yishun new condo, New Punggol condos, and others are developing. 3. Question yourself, ‘Do you need a realtor?’ Realtors are the professionals, who are not only trained but also certified in handling the real estate dealings. If you doubt about any property unit, then they can help you in it and even in finding a promising condominium unit for investment. The realtors capably understand the condominium market and know how to make best out of it and come up with productive investment.
4. Is the condominium association managed professionally? Several condominium projects like Sky Miltonia are in demand because of the professionally managed association as well. So, whenever you look up for a condominium unit, always make sure that condo association is at par with the standards. You must also enquire about the fiscal reports; board of director's minutes from previous meetings; by-laws, rules and CCRs covenants, conditions and restrictions. The return on investment would be greatly affected by this factor.
Along with these, below is a list of certain questions that you can consider while looking a condo project to invest into:
What is the tenant-owner ratio?
The details about the covenants, bylaws, and restrictions upon the property?
Also, consider the reputation of the developer. What are the reviews about all other projects by the same developer?
Condominium Corporation Assessments planning is important. Have you checked whether the plans are executed as per the annual rate of inflation?
What are the common areas in the unit? Who all would share the common areas and what would be the scenario?
These are the questions, which are although not answered, but still would make you take right decision by investing in a promising condo unit. While enquiring about any project, do ask these questions to yourself. If you are satisfied with the answers, then you must go ahead for the investment.
Published on Feb 2, 2013
Published on Feb 2, 2013
When it comes to making investments, certain factors like thorough knowledge, skimmed analysis, clear understanding, and finance are importa...