If you are in the process of relocating to Singapore, you may be considering moving into a condo. But if you have never experienced living in a condo or are unaware of what a condo even is, it may benefit you to familiarise yourself with a number of key factors beforehand. Continue reading to familiarise yourself with the pros and cons of moving into a condo.
It is flexible
When it comes to searching for a suitable place to live, flexibility tends to be one of the main determining factors for property seekers in Singapore. As a result, a growing number of consumers have made the decision to move into a condo in the past decade. It can be a great option for homeowners looking to downsize from a standalone property or are tired of the rising cost of maintaining a detached house. By opting for a slightly smaller square footage, you can benefit from greater freedom and flexibility and are, therefore, much more likely to spend your free time travelling or enjoying the wide range of facilities and amenities your city has to offer.
It can lack outdoor space
If you have recently relocated from a standalone property to a condo, you may find yourself disappointed by the lack of outdoor space. This is because condos are built within a vertical building structure comprised of separately owned units. If you love the outdoors, own a dog, or have just given up a spacious garden, this can take a considerable amount of time to get used to. But all is not lost, however, with a lack of outdoor space also signalling an end to yard work for the foreseeable future. If you are lucky enough to snag a condo with a balcony, on the other hand, your outdoor space may be replaced with 360 degrees views of the city. For example, The Vue is one of the most sought after condo buildings in Singapore with a number of its units equipped with balconies. It may also be possible to fill your home with plants and flowers to create the illusion of a green space indoors.
It is affordable
When it comes to choosing a place to live in Singapore, a growing number of homeowners are being swayed by the affordability of condos. By comparing the cost of a condo with the cost of a beachfront property or standalone home on the outskirts of the city, for example, a condo can be a cost-effective option. This is one of the main reasons why first-time buyers are opting for condos during the process of setting foot on the property ladder. In the vast majority of major cities, it may also be cheaper to purchase a condo than it is to rent an apartment or purchase a townhouse. This is worth keeping in mind as you navigate the real estate market in an attempt to find your forever home.
It can lack privacy
As with any property located in a shared building, moving into a condo can signal an end to your privacy. This is because you are forced to share walls with your neighbours on both sides. As a result, you may be able to see and hear more than you would if you lived in a standalone or detached property. If you are friendly with your neighbours, this is unlikely to be a problem. If you find yourself getting frustrated by constant noise or recurrent parties, however, there is very little you can actually do about it. A number of common noise complaints from homeowners living in condos include the sound of televisions, animals, doors closing, talking, laughing, and even footsteps. If you have relocated from an apartment, you may not necessarily even notice. If you have downsized from a landed property, however, this can be a shock to the system and become irritating within a relatively short period of time.
It is serviced by nearby amenities
By moving into a condo, you are essentially paying for the property as well as its proximity to neighbouring amenities. As a result, you will only ever by a couple of minutes away from a supermarket, doctor, school, restaurants, bars, cafes, transport links, and major attractions. This is also one of the main reasons why a condo is the number one choice for a growing number of young adults that rely on public transport to commute to and from work as well as those looking for an easier life.
If you are considering moving into a condo, there are a number of pros and cons you must familiarise yourself with first. For example, it is flexible, it can lack outdoor space, it is affordable, it can lack privacy, and it is serviced by nearby amenities. You must weigh up the pros and cons before you make an informed decision.
