The Ultimate Tips for Buying Raintree Condo in Singapore
Getting ownership of a condominium is not just like buying a house. Different things need to be considered before making a final decision. People usually prefer purchasing condos because their prices are relatively less as compared to a single-family residence. Besides, less maintenance and good living lifestyle make them perfect. Here are the tips to know before getting a raintree condo in Singapore.
Arrange the Finance
It may seem obvious, but careful consideration needs to be given to the finances because of the strict policies of loans. It has been witnessed that many lenders do not allow condo purchase. The good news for you is that if your condo is on the approved community list, then it would be easy for you to arrange the amount.
Know what Condo Includes
Again, it may also seem like an unnecessary task. However, it is imperative to know about the parking spot or additional storage. Things like extra guest parking facility and covered garage are essential if you want to spend a long time in a raintree condo in Singapore. After all, nobody would like to get uninformed about the parking spot.
Ask about the Association Fees
The next thing to consider is the fees. Yes, you may have already known that each resident pays quarterly or annual charges. In many condo communities, the amount gathered from the residents is used for maintenance and insurance. So, before becoming a resident, it is your right to inquire and ask how the amount will be distributed, and what if someone fails to pay the fees within time.
Read the Manual carefully
Similar to the previous point, most condo communities have specific rules and regulations to keep decorum and peace. Unlike a residential house, you cannot just randomly come up with your own guide of rules and regulations. As a part of the community, you will be required to review the association rules. Besides, if you have a pet, then it is imperative to know the restriction of the types of pets. All these rules help people maintain peace in the community.
Ask Open Questions
Did you know that a significant amount is charged from the residents to cover a project? Well, the project could be anything such as structural repair. You might be thinking why you need to know about the assessment. You need to understand that it could make a massive impact on your finance. If roof replacement has to happen in the future, then the quarterly or annual association fees may rise at a certain percentage.
Maintenance and Management Company
The value of a condo is directly proportional to how it is maintained. So, knowing about maintenance and management is essential. A management company keeps track of day-to-day expenses and operations. The duties may also include handling the finances of condos and enforcing the rules and regulations. It is something that should be kept in mind prior to purchasing.
That’s everything about getting a raintree condo in Singapore. If you are a first time buyer and do not have any prior experience of buying a condominium in Singapore, then it is a wise decision to get the help of a professional.