Money is very important in this world and every time we make an investment, we should really think it through. Same with investing in Real Estate such as for https://www.piermontgrande.com/, you have to exhaust all your efforts into researching if it is a good idea or not.
In this article, we will tell you about all that you need to know about investing in real estate. Enjoy reading and we hope we helped you make an informed decision.
Choose a good location
If you plan on selling or renting out this real estate investment, you have to take the location of the property into consideration. You have to make sure that people would want to live in a neighborhood or building. The location is what makes or breaks a person interest in whether he or she wants to live in the place. Moreover, find properties and locations that have low maintenance costs.
Hire a trustworthy person to manage the property
If you think that you don’t need to hire a property manager, well, think again. Looking after the property is a full-time job and you won’t be able to do it with your busy schedule. Thus, find someone who you can trust and has the same mindset as you. That person can also help you find potential tenants. If you don’t hire someone to do this and you have other obligations, you may be putting your investment to waste.
Make sure that you have the funds to do this
Once you have made the purchase, the expenses do not stop there. You will have to make some adjustments to the place to mark up its value. Not to mention all the repairs that you might have to do as well. Thus, make sure that you have enough funds to support the investment until you are already able to make some money out of it.
Singapore real estate market is in a booming stage right now. Are you planning to buy a condominium in the country and looking to know whether it will be worth it? Well, that depends on how you are going to use the property. Please read the post below to know more.
Great for long term investment
If you are planning to buy a property that you will sell in couple of years, then condo will not be a good choice for you. Condos are especially great for long term investments. A condominium is a posh unit backed by modern amenities like pools, fitness centers, strong security etc. Tenants love condo and you can also advertise your condo for holiday rentals. The plush lifestyle featured by Singapore condos are a huge draw for tourists and tenants.
Singapore condo market is developing
It’s true that single-family homes sell faster than condos. But condo market is rising all over the world of late, including Singapore. One of the most awaited condos to be launched in the country this year is Piermont Grand EC. Located at Punggol, it’s a breathtaking waterfont Executive Condominium which even assures CPF grants for buyers. The property has attracted as many as 17 bidders even before its launch. And that’s proof enough behind the rising condo market in Singapore. It will be great if you focus on high end condos like this one. Plush condos are in huge demand in Singapore and carry the potential of an easy sell.
Singapore is an amazing place
Singapore itself is an amazing place with its lush greenery, booming economy and excellent condos. People from all over the world love to stay at Singapore for its friendly and plush ambience. Thus, it will be a wise decision to buy a condo as you will always have the possibility to find suitable buyers for it in near future.
People are overwhelmed while buying any real estate property or a condominium. With this happiness, it sometimes makes you less concern about the important things that you really need to keep in mind. If you are about to buy a property, you need to keep in mind both its advantages and disadvantages. Will it benefit you in the near future, what facilities will be provided and many other things that are important to note. Obviously, living in a condo will provide you with more benefits, but also it comes with many hidden costs or expenses.
If you’re about to buy a condo, then search well the associations, the fees they are demanding and all the other expenses. Also, you can have a look at riviere by frasers property as this is a newly developed condo society that offers you many benefits.
Let’s look at some of the hidden costs of owning a condominium:-
- Maintenance Fees
Condo requires paying association fees that include insurance and maintenance fees. This fee is fixed by the society and every month you have to pay a fixed amount of fees to them. This is a hidden cost as whatever you save throughout the month; you have to pay it by the end to society.
- Extra transportation cost
It is the most hidden expense as the condos are builds in the areas that are not proper in the cities and for everything you have to move to the market. It can be only possible if you have a vehicle and if you don’t have a vehicle, then you have to pay charges for transportation more.
Whether you think of buying a private property or a condominium, just look that it should be in your budget and also make the idea of hidden charges that are mentioned above.