3 Questions That Would Make You Buy Best Condo Unit

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Condominium units are the latest fascination of the real estate industry today

. If you are also charmed with its ultra-luxurious life and planning to invest in a unit, then you must stick onto this article and unveil some useful points to make a correct decision & invest wisely. Here youll find 3 crucial questions that you must always question before deciding to invest in the unit. As, you know that there are already several existing condominium projects and even there would be various condo launch in Singapore, therefore it is important that you invest wisely by considering these questions.

The game of questions and answers:

# Question 1 --What is my actual budget?

Reason: You have to ask this question to yourself to analyze what you can afford easily, without putting burden on your pocket. One thing that you always have to keep into consideration is that when it comes to condominium buying, keeping a check upon budget is important as it is counted amongst the high rated & priced properties. Moreover, there are various other expenses that you would have to do after you own a condo.
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Moreover, having a reality check about the budget, you would also be able to decide, whether you want to own a unit or rent it.

# Question 2 Is there professional management in condo association?

Reason: The importance of having a professionally-managed condominium association is realized by those, who are presently living a condominium life. In a day-to-day life, several issues that need professional planning and come under association department. To resolve many situations, having a professional department is important.

While enquiring about the condominium association also try to find answers for certain questions like fiscal reports; board of director's minutes from previous meetings; by-laws, rules and CCRs covenants, conditions and restrictions.

# Question 3 The complete scenario of Monthly Home Owners Fees?

Every condo owner has to pay certain monthly home owners fees. So, you have to enquire about the complete scenario behind the calculation of the monthly fees. To check its appropriateness, you would have to consider the services covered. Along with this, you would also have to consider future aspects regarding foreseeable increases in home owners fees or planned assessments.

These are the three most crucial questions. However, below are some more questions, that you can ask to decide further that whether you should go the unit or not.

How much % units are occupied by owners and how much by tenants?

What are the covenants, bylaws, and restrictions upon the property?

Now for say, you invest in some new unit, like Yishun new condo units, then what is the reputation of the developer? What are the reviews about the other developments of the developer?

What would be the planning for Condominium Corporation Assessments and are these in pace with annual rate of inflation?

What would be the status about "common areas" of the condominium corporation? Who all have to share the common areas?

These are some questions that would make you take wiser decision and invest logically for your new life at the condo unit.

by: Justin Sara

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