With the emergence of kent ridge hill condo which has become the target of many property investors in Singapore. However, before discussing the advantages and disadvantages of condominium investment, do you know the difference between an apartment and a condominium? Actually, the apartment and condominium are quite different when referring to ownership rights.
The apartment is a term used to indicate vertical housing for rent, while a condominium is an apartment that is owned by each occupant. If you are interested in investing in condos, let’s look at a few considerations regarding the profit and loss from the following condominium investments.
Benefits of Condominium Investment
That is due to various beneficial factors as follows.
Building Repairs and Renovations are not your problem
Regarding the exterior of the condominium, the owners or investors do not need to bother. Because all the responsibilities and repairs needed such as replacing boards, ceiling or roof installation of condominium units are the responsibility of the condominium association. In addition, maintenance outside the condominium building such as cleanliness, parking space arrangement, even the beauty of the park will also be taken care of by the condominium association.
Your responsibility as an investor is to perfect the interior of your own condominium unit.
Unit Price Increase Along with Inflation
Inflation can affect property prices to rise every year. It also happen to the unit price of your condominium. Especially with kent ridge hill condo which has a strategic location. However, it is highly recommended that you own the condominium unit to rent it as a strategy to get a very promising cash flow.
Condominium Investment Losses
Let’s continue our discussion on the weaknesses or losses you would incur when investing your money in a condo. As a condominium investor, consider the following factors.
Condominium Association Fees
As one of the owners of the condominium unit, you have the responsibility to make conditional association fee payments. This fee is indeed allocated for the maintenance of various building maintenance operations that make you as an investor do not need to think about it. You only need to pay the dues together with other investors and leave all the arrangements with the condominium association management.
Non-Dana Condominium Unit
All property is indeed not liquid funds. If you think that you can sell it whenever you want, it’s not working on the condo. Finding condominium sellers at the right price is a pretty difficult business, especially if you are in need of fresh funds quickly. It is highly recommended that you do not put your emergency funds on investment in property types, including condos.