By Danessa Foo
No doubt that living in a condominium feels a whole lot different compared to staying in a HDB flat. There is security, luxury fittings and an array of facilities available at your convenience (swimming pool, gym, etc). All perks of a high-end living.
You must take time to carefully consider all the facts before committing to what is likely to be the biggest investment you’ll ever make.
Take it slow and do your sums carefully.
An over-eager homeowner may run into financial difficulties by rushing to buy a condominium apartment without thoroughly doing the proper background checks on the developer.
And as for older establishments, some fail to examine the intended unit and its common areas for potential problems. I am pretty sure you would have come across a Singaporean couple or two who are in huge debt because of their impulse purchase.
If the property is well within your means, then go ahead with the purchase. Otherwise, the developers or real-estate agents, driven by commission-based sales target, may persuade you to make a hasty decision and commit.
Buyers who rush to buy a condo unit, often succumb to these …read more