Regardless of the class of people you belong to; whether you are a corporate body or a permanent citizen who desires to acquire an EC in Singapore, the proper thing to do is to locate the developer in the preferred location and find out the information needed about the Rivercove Residences EC showflat and then proceed to make your acquisition. If you are a corporate body or a foreigner looking to acquire an EC, you are advised to check with the developer situated in your preferred location so as to find the ECs that comes in their eleventh year and beyond.
But if your target is to get a good condo, you can opt for the ECs or check the apartment buildings that come with condos apartments. All these depend on your nationality, your budget, or if you work for a corporate body that just relocated to Singapore. Although there has been a rise in the price of property in Singapore, that rise is as a result of the success and demand of the economy, which forms a major factor. All these led to a productive real estate market and they offer different things ranging from residential buildings to the perfect condo, so endeavor to check the purchasing property located in Singapore if you are moving to a local area or relocating abroad. You are advised to look out for some features in the Rivercove Residences EC Showflat before making the purchase.
If you are thinking about buying a home or holiday property, and a condominium is within your options, you should consider all the advantages and disadvantages of owning a condominium.
Among its attractions is the flexibility to meet the demand of any owner as they exist in different styles, locations, and prices.
What is a condo or condo?
It is a property divided into individual units or apartments that are then put up for sale. Therefore, this implies that there are common areas that must be shared with other owners.
In other words, when buying a condo you are buying an apartment. The common areas that you will share are the lobby, the exterior of the building, corridors, elevator, as well as the floor on which the building stands.
Other minorities such as swimming pool and gymnasium also fall within what is common property. A house with these amenities would be more expensive.
Among the advantages of a condominium are the following:
Price: Generally, it is cheaper to buy a condominium than to buy a house.
Maintenance: A house requires a lot of care and maintenance such as mowing the lawn, cleaning sidewalks, repairs, etc. In a condominium, you do not have to worry about these things since the management of the association of owners takes care of everything like the maintenance of the exterior of the building, sidewalk, and other common areas. You will only have to pay the aliquot for maintenance.
Location: Condominiums are very popular in metropolitan areas where the average price is lower than that of a house. Therefore, this is a practical option for those buyers who want the convenience of a more urban lifestyle.
Investment: Unlike a cooperative, condominiums can usually be rented; that is, you do not necessarily have to occupy it. This means that you can buy it as an investment if you are interested in generating a revenue stream by leasing it.
Also if you buy it as a vacation property, you can rent it during the months you do not use it.
There is a lot of flexibility in banks to finance condominiums that can be:
Established projects: Where the construction is finished and the condominium is under the control of the owners association.
New construction: Those in which the developer is selling the units but still controls the association.
Conversions: Those buildings that have been converted into a condominium, as they were originally designed for another purpose as offices or apartments for rent. These condominiums are converted for residential property purposes.
Resort: These communities are located in tourist or vacation destinations, and are generally used as a second home or property.
If you are buying for the first time, a condo offers many advantages especially if the price greatly influences your final decision. You should weigh all of the pros and cons of investing in a condominium before you fully invest in one. This is because if you truly want to get your money’s worth in a condo, you should always consider carefully before buying.