Important points to consider when buying a condo

Singapore is one of the most developed countries in Asia and has an economy with a per capita income which more than that or the US. However, one thing that is expensive in this country is property. The reason is the lack or land that has caused the prices to increase due to growing demand. The most common form of housing in the country are apartments or condominiums like Grandeur Park Residences which is what you may be considering at the moment.

Buying a condominium

If you want to upgrade from a rented apartment to a home of your sa10own, purchasing a condo may be an excellent idea. There are so many nice buildings out there, but many of them come at a premium price. It is, therefore, important that you spend a little time doing some research before you make any harsh decisions. Here are a few things you must consider before you start your search.

The size of your family

If you live alone, this may not be much of an issue, but if you have a family with 4 or 5 members, then you need to take into account the size of the condo you want to buy. Your children may be able to share a room but as time goes by they may need their privacy. If this is the case, you may want to go for a condo with 2 or 3 bedrooms depending on the number of family members you have.

The price

Taking into account the above point, the price will, of course, increase the bigger the size of the condo. Always check what the square area is because the amount will depend more on that that the actual number of room.

Decide on the budget

sa06It is important that you know how much you can afford for the unit. The last thing you want is to look and fall in love with a place that you cannot afford. You must always try to get a good deal. In case there is a condo that is being developed or launched. You may be able to get a deal for placing your order early. The condo developers may also have agreements with banks, and you may be able to get a loan with a grace period in case you need to take out a mortgage for buying the unit.

Conclusion

Buying a new condo is no small investment and you should take your time to make the right decision so that you can enjoy it for many years to come.