It’s the truth that many Singaporeans choose to buy a condo over an HDB flat because of its perceived prestige. But unfortunately, it comes at a price. And already many of the residents overstretch themselves when they purchase a home. Hence, the debt levels of the nation are somewhat high relative to the household income and the highest level of property debt.
However, even if you are not in a state to buy, rent, and sell multiple properties and want to live in the place you purchase, there are three reasons you might like to consider purchasing a condo despite the higher prices!
You don’t want HDB’s restrictions
Though HDB property is more cost-effective from the point of view of a resident, HDB ownership is fraught with several restrictions.
If you are below the age of 35 and not married, you can forget about buying an HDB flat for yourself. For that, you will have to get old enough and find someone to tie the knot with. (Hopefully not for the sake of having a property though!)
The same goes for the couples whose earnings are above the income ceiling of $12000 for four-room sets or $6000 to $12000 for three-room sets.
You entirely utilize the facilities
Note that, while those facilities might look free, you will be paying for them in the aspect of MCST fees. Still, if you are an avid swimmer, you can regularly enjoy a game of tennis and work out in a gym. With such facilities, living in a condo can not only save you money but also buy you lots of conveniences- as there will be no need to take the lift up to your unit for taking a hot shower, once you have taken few laps in the pool.
Amber Sea is a new condo, located in District 15, Singapore 439964. It promises a range of recreational facilities and a comfortable lifestyle to its residents. According to your family needs, you can own from 1 to 4 bedrooms and has 132 household units in total.
You want to hold a freehold property
Freehold properties are far between and few these days. If you can easily afford them as there are so many motives to opt for a freehold instead of one on a 99-year lease. And going private is the only way to buy a freehold property.
Note that, if you are just expecting a good return on your investment, then there’s no need to buy the freehold and go the whole hog. It has been concluded in studies, that properties on a 99-year-old lease can earn better gross rental yields. But what do gross rental yields mean? It’s the amount of rent your property can give you and that is higher in this case than the cost you have to pay for the property.
However, other reasons are supporting a freehold property including the desire to hand over it to your future generation. If you are relatively young and planning to live in a condo for a long time, then you can see your property value appreciating more in long run.
Looking to have a freehold property, then Amber Sea a new freehold development, by Far Eat Organization is best. You can just subscribe and get the latest developer updates on this heart-warming condo at their registration of interest page.