Numerous nations and states have developed and maximized the use of their lands due to rapid urbanization to accommodate the need for infrastructure development to support their economies and provide decent and high-quality housing for their population. High-rise developments like condominiums, hotels, apartments and real estate have emerged as a solution for small nations that cannot afford to provide their citizens with lands on which to build their homes. At some point in life, most have set their sights on purchasing a condo in Singapore. Since many of these homes feature cutting-edge amenities, it makes sense that they rank high on the priority list of many Singaporeans. Mentioned here are a few things to keep in mind when looking for a new launch condo in Singapore to help you get one of your dreams without having to stress about it:

Leasehold or freehold

The terms “freehold” and “leasehold” are probably familiar to house hunters because they have likely researched the process of purchasing a condominium. For the uninitiated, however, leaseholds and freehold properties are tenures that determine how long you can own your property. Leaseholds are divided into 99 and 999 years, while freehold properties can be owned for, well, forever. You’ll see that each tenure has its benefits and drawbacks. You can have freehold properties for the rest of your life, but most are in ulu areas like Changi or Woodlands. If you want a cheaper house, leaseholds are the way to go, but keep in mind that the value will decrease over time.

Amenities

Convenience is everything when living in a city. You should buy a place that will provide you with what you want and simplify your life. This does not refer to standard amenities like laundry rooms or elevators. It refers to extras like sporting and recreational facilities. Please do something else outside of your unit when you get home from a long day at work and don’t have to leave the building. A condominium with a gym is a good option if you enjoy staying in shape. A place with cafes or restaurants would be ideal if you’re exhausted and don’t want to cook. These and other small extras make condo buildings a great option.

Location

Choosing a location for a new launch condo is like starting a business. Location is very important regardless of whether you are single or have a family. The location ought to be as advantageous as possible. You should take into account how close your workplace is to you. Keep in mind that this is one of the reasons you are purchasing your own home. All of this is due to your desire for convenience. Should it be accessible via major roads? Is it close to hospitals, schools, and other major businesses? Not only does its proximity to major public facilities meet your physical requirements, but it also determines the true value of the assets you are purchasing.

Cost

Cost covers everything related to the money you’ll spend in your condo. The unit’s purchase price should be reasonable and within your means. Check for any additional fees not included in the developer’s price. Inquire about association dues and other relevant maintenance cost information.

Have you ever wished that there were a few clear things to look out for when buying a condo in Singapore? A list of the points above can serve as one. When purchasing a condo, you are not simply purchasing a spot to live in; you are purchasing an investment!