Six Tips to Know Before Buying an Apartment
The process of buying an apartment is far complex than the process of buying a house. This is because here you do not buy land right away. If you are going to purchase an apartment for the first time, these tips will help you to do so:
Freehold and leasehold
At the very first step, you must be clear about the concept and difference between a freehold and leasehold project. In terms of freehold property, the buyer purchases the land and the home. On the contrary, in a leasehold property, you pay the price to occupy the space. In this type of property, you also share the same land with other people.
For example, flats are leased as they are made on the same land and are shared by several people. Getting through the gallery section before having a physical visit can be very beneficial, it will save a lot of time a d effort. Many condos offer a clear view of their apartments to their buyers. For example, new launch Amber Sea freehold condo Singapore sales gallery is the great picture collection of the brand-new development.
Lease period
In the case of leasehold, the buyer pays to live in the property for a specific period. This duration can go up to 999 years from the date of its launch. With the pace of time, its value comes down. So it’s really important to find out the time, which is remaining on the lease of that property. You can directly ask your real estate agent to give this information to you.
Service charges
To be very straight, the budget is the main thing that turns your direction from one property to the other one.
You should find out the ground rent plus the other service charges. Apart from the charges, you should be clear with the person who will be accountable for the other communal repairs. With this, setting up a budget would be easier.
Alterations and major repairs
Do you have the authority to bring changes to the property? The restrictions can be obvious or subtle. If you are planning to bring any major change to your flat, then you must contact the lawyer.
General maintenance can be covered in the service charges as well. However, your service charges may not cover major repairs. Make sure about the person, who is going to pay for the major repairs in your apartment. It is most important if you do not have much extra budget for extra repairs.
Restrictions
Having a pet or planning to have one?
You must be clear with this permission, as many of the apartments do not allow any type of pets. Many of the apartments do not allow music after midnight.
Assistance
After you have brought a condo, do you know who will come to assist you when needed?
If not, then put your concern and get the idea about it.
With these tips in your mind, you are good to go!
If you are looking forward to buying an apartment in a great condo, then make appointment to view Amber Sea. We heartily welcome you with all the latest facilities and comforts you.
Kal L