Mastodon Questions To Ask Before Investing In Singapore Condominiums

Questions To Ask Before Investing In Singapore Condominiums

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Before making an investment in Singapore condos, one must question himself about several things so that he is assured that his investment decision is good. There is a list of certain questions, which would help in making the decision properly. Try to answer these whenever you think about making investment in any of the condos in Singapore.

What should you ask yourself before making an investment in the Singapore condos?

1st Question--What is the exact budget for condo investment?

Try to get the answer of this question at a very first place. To get the answer of this question is must as accordingly you’ll hunt for the condominium project. However, while analyzing the budget, you must never forget to include the expenses that you have to incur. There are different types of expenses, like your routine expenses, & expenses after buying condo for maintenance & up-gradation, etc.

2nd Question—What is the scenario of the condo association’s professional management?
If you are considering certain condo project, say, New Punggol Condominiums. No doubt, the project is very promising with exclusively designed amenities, and high class facilities. However, you must also pay equally importance to the condominium association. The association has to be professionally managed so that the residents can live comfortably. Condominium association plays important role in resolving several issues. With condo association, conforming about fiscal reports; board of director's minutes from previous meetings; by-laws, rules and CCRs covenants, conditions and restrictions is also important.

3rd Question—What is the scenario for Monthly Home Owners Fees?

Monthly Home Owners Fees is paid by every condominium owner. When deciding about condominium purchase, you should give a thought upon this aspect as well. The condominium association charges monthly fees for the services they offer. If you enquire about the charges before hand, then you’ll be able to decide about the budget as well. You can accordingly foresee about the future expenses as well, and decide whether you’ll be able to manage it or not.

These are the 3 main questions, which you must question. However, there are few others as well, like:
• What is the ratio of tenants & owners?
• Are there any covenants, bylaws, and restrictions upon the property?
• Does the developer of the condo project have good reputation?
• What are the reviews about the other developments by the same developer?

If you can find answers to these question and then analyze whether the particular project is worth making investment or not, then you’ll be able to make good decisions.

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Comments (1)
ria17's picture

I guess before you decide on investing you are sure for this decision and you agree with this with all your heart. - Online Reputation

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