Investing In Condominium As Right Investment
It is often being asked for an interested investor in real estate: Should I buy a house or condominium unit? Particularly, in a highly urbanized area, are condominiums worth the investment?
In case you are wondering, a condominium unit is a cross-section of a house and an apartment. As in a house, you can buy a condominium unit and own it as is. However, some considerations of living in a condo unit are the same as to live in an apartment. For one, many condo units are next to each other, so the condo owners often share a wall and live close to each other. If you are residing a high-rise building, your condo unit may be located above or below another condo unit. When you talk to your family members or friends who also live in condo units, you will quickly discover that they love living in a condo unit, while you will also find some people want to live in a house instead. So, you ask yourself, what can be some of the advantages and the cons of condo living?
A glaring comparison between a condominium and a house is the space. A house is obviously larger than the condo. Because of the space, the property value of the house, its neighborhood and living costs in the area get larger too. Conversely, a condo unit which has a smaller space than a house has a smaller value.
Another comparison is the other amount you have to pay in condominium unit which includes, of course, the association dues. Some houses which are located in subdivision areas have its own association dues. Condo units can averagely be bigger though. The association dues for a condo building include amenities like pool, clubhouse and a 24-hour security. Basically in a house, what you want to build at your convenience is pretty much welcome.
Like for instance, the condominium blocked in Eunosville was sold to MCL Land for $765.78 million Singapore dollars. The land price was set at S$909 per square foot per plot ratio including the estimated $194 million Singapore dollars payable to the government for a gross plot ratio of 2.8 and increase the lease of the site to ninety nine years. Eunosville has a whopping 330 condominium units with seventy-five (75) apartments and two hundred fifty-five (255) maisonettes. Located just across the Eunos Station, Eunosville is a site to behold overlooking the Changi Road and Sims Avenue.