To secure the future, there are numerous investment options available, one out of which is investing in new launch condo property. If you are planning to make investment in Singapore condominiums to safeguard your future, then we have come up with certain pros & cons of making investment in the condo property for your help. Read these pros and cons before you decide to make the investment at Marine Blue New Launch, or other condos.
Pros or Advantages of Condo as an Investment Property
Price
The price of the condos such as the recent Marine Blue Condo are quite high in current real estate scenario. But if you make investment in it and take wiser decision by either renting your condo or resell it. Either way you can get a good amount by making investment in the condo property. Yes, it is true that you can do the same with other housing properties as well, but you must not forget that the preference of living a luxurious life at condo is much higher and can thus be of higher value.
Maintenance
If you will invest in any property other than condominiums, then you would have to take care of the maintenance activities along. If you will not maintain the property, its value would depreciate at higher rate. But this is not in the case of the condos. If you invest in a condo property, then you do not have to worry about the maintenance work, as the condo association takes care of every aspect. For the maintenance of ceiling, roof, stairs, garden, etc. you need not to bother yourself, as condo association would do that.
Amenities:
Living in a condominium is preferred due to the enormous amenities available within the convenient reach. While making investment in the condos, take care of the amenities because that would add value to the ROI. By having a swimming pool, gymnasium, 24 hours electricity & water supply, etc., the value of your property would be higher at the time of resale as well as rental.
Well, these are certain advantages of making investment in the condo unit, now let us have a look at the cons or disadvantages.
Decision making is shared
One of the biggest disadvantages of the condominiums is the shared decision making policy. Even if you are elected on board of directors, still you will not be the only decision maker.
Rules & Regulations
To live in a condominium, one has to follow certain rules & regulations. Each condo association has specific list of rules, and these can be changed as well. For instance, not all condos give the permission for tenants, there are just two options, one to move in or the other is to sell it.
There is one another drawback. There are condo associations, which allow too many rentals. Such situations are also too good as per investment. If more than 10% units are rented, then there might be problems regarding mortgage (financing), which would ultimately raise issues at the time of reselling.
The association fees
Association fees has to be paid by every condo owner, weather you are living in it or not, or even if you have rented the property. So, whether you use the amenities and facilities at the condominium, you would any how have to pay for them.
Certain special valuations
At the time when you bought the condo, there might have been no special assessment, but say after a year, when there is insufficient money in reserves, but there is a need of new face, then you might have to pay for special assessment, which can be quite high.
These are certain disadvantages of making investment in condominiums. But, by reading these disadvantages, do not think that it is not ideal to make investment in condos. There are new launch such as Marine Blue, which can provide you with good solutions because of the easy & suitable terms & conditions.
It is just that you have to be cautious when investing in a condo unit and consider every possible aspect when investing in a particular unit.
Advantages and Disadvantages of Investing in Singapore Property
There are many investment opportunities available in the property market, where one of it is to investment in condominium new launch. If you are looking to invest in Singapore to create better financial wealth for your future, this is an article that discusses about the pros and cons of it Read them before you make your decision of whether to jump the bangwagon into Duo Residences, Thomson View or other condos.
Price
In the current real estate amrket, the price of condos are relatively high. If you were to make an investment either by renting your condo or reselol it, you can still get a good amount of returns in the property. Yes if is true that the same method can be apply to other housing properties, but we should not forget that living a luxurious condo life is much comfortable, and has a stronger future value.
Maintenance
If you invest in other properties in apart from condo, there are various maintenance activities to note. If you do not maintain the property, its value would drop at a higher rate. However this is not the case when it comes to condos. If you invest in condo, you do not need to worry about the maintenance work, as the condo management would take care of them. For the ceiling, roof, stairs, garden, you thus need not worry for the management shall look into it
Amenities
Most people prefer to live in a condominum due to the enormous amout of amentities available as well as its convenience. Having a swimming pool, gym, 24 hours of electricity and water supply, your property valuye would be higher during resale and rental. Well, now lets inspect some of the disadvantages.
Decision making is shared
One of the cons of condo is the shared decision making polcy. Even if you are on the board of directors, you are still not the decision maker.
Rules and Regulations,
One has to follow certain rules and regulations to live in a condo. Every condo management has a list of specific rules. for example, not all give the permission for tenants. there are 2 options, move in or sell it.
another drawback is condo management allow too many rentals. Such situations are too good as per investment. If more than 10% units are rented, there could be mortgage financing problems, which would caused problems during reselling.
Association fees
These are paid by every owner of a condo, regardless you live in it or not, even if it is a rental property. So whether the amenities are used, one would still need to pay for them. Check out Marine Blue Capitaland today.
