Condominiums, commonly known as condos, have been a trend in the real estate industry, and Singapore is still in embracing them. These houses are most suitable for urban areas grappling with population increase since they are compact and low-maintenance. They are also convenient because they have amenities like fitness centers, on-site security, and a swimming pool, besides entertainment options. Additionally, they are affordable, which makes acquiring one highly competitive. That’s why it’d be best o buy yours prelaunch, which will enable you to enjoy the following:
Buying condos like those in the continuum, located in Thiam Siew Avenue in prelaunch, gives you early access. Doing so allows you to choose the best units in terms of location. In addition, you will get priority access to amenities such as a parking area, pool, and gym. You will also be able to influence development, a privilege early buyers have. Furthermore, prelaunch condos have a better financing option, especially in Singapore, since the government offers lower interest rates and tax rebates.
You will also get the condo discounted if you buy it prelaunch. This is possible because developers often offer discounts to early home buyers to create a buzz about the real estate project and generate early sales. Such houses also have tax advantages, such as reduced stamp duties in the prelaunch face. As a first-time home buyer, it’d be best to take advantage of this and buy before the mega launch.
Developers plan condos to be uniform. So, buying yours in the prelaunch phase gives you the power to customize yours to your preference. The developers can modify the floor plan to suit your need. Additionally, you can upgrade the flooring, finishes, and appliances by suggesting them to the developers. And suppose you have a preferred personalized living space idea. In that case, some developers can allow you to choose custom countertops and cabinets, to mention a few.
The price of condos tends to shoot once the media and general public know about it. Buying in this phase gives you an investment opportunity once the demand rises as supply quickly diminishes. If you are in a position to sell, you can do so at a higher price and then look for another unit elsewhere. However, note that there are risks associated with buying condos, such as delays in construction cost overruns and changes in the market which might affect the value hence the need for proper research if you are buying as an investment.
Condos like those in the continuum tend to appreciate value with time. This factor can be attributed to the continued investment in infrastructure by the government, and the desirable lifestyle condominiums offer in Singapore. And with the projected strong economic growth, thanks to a stable political environment, the unit you buy in the prelaunch phase will appreciate quickly.
The real estate industry has been changing, and condominiums are taking over, particularly in urban areas. These house units are popular due to their features, price, and amenities. However, it’d be best to buy them in the prelaunch phase as it comes with the benefits you have read here.