Commonwealth Towers Property Singapore
Commonwealth towers property Singapore adds a classy feel in this neighborhood with its outstanding condos built just across the station. The developer is renowned in the whole Singapore as the largest developers with a broad portfolio of residential properties.
Also known as Singapore’s property pioneer, it is a real estate company already listed in Singapore and operating a company with an extensive global presence of 94 locations in 26 countries. Besides the residential properties, the company has also invested in hotels, serviced apartments and shopping malls.
A condominium is a complex structure composed of individual units, which are often referred to as ‘condo units’. Unlike apartment-type complexes wherein individual units are for rent, condominiums are leased for sale. These units may be renovated apartments and townhouses or even warehouses previously used for commercial purposes.
Individuals or families who have purchased units in a condominium own everything from the walls of their units inwards. Individual condominium unit owners share rights to common areas inside the premises like elevators, swimming pools, hallways, and clubhouses. The maintenance of these common areas becomes the obligation of the condominium association, which is composed of individual owners. Every owner have their share of interest in the association, adhering them to make monthly due payments or so-called ‘special assessment fees’ for huge maintenance problems.
Commonwealth towers property Singapore provide an alternative lifestyle for many individuals especially those who want to be independent and have their own place that they can call home. Contrary to popular belief, there are condominiums that are affordable. They cost less than paying for conventional home purchases. It is quite cheaper compared to building your own home from ground up. This kind of living quarters is ideal for young professionals as well as small families. In addition, it provides essential amenities such as round-the-clock security and low maintenance (since you own a small portion of the whole condominium).
However, there are certain disadvantages of living in a commonwealth towers property Singapore. There is a lack of privacy in common areas where every homeowner has their respective shares of interest. Condominium arrangements are not the best options for individuals who prefer owning all the amenities and want to maintain their own lawn and garden. In this case, they must pursue single home ownership. Moreover, it is also difficult to sell a condominium unit compared to a conventional home. Remember that you only own the unit and not the ground beneath it.
Despite of the aforementioned disadvantages, there are still individuals who prefer living on condominiums. They do not mind having close neighbors at all and they do not want to be bothered by the responsibility of the lawn or other external maintenance matters. And since the total price of purchasing a condominium unit is relatively lower than an equivalent single-unit home, there are many individuals who are tempted to take this cost-efficient advantage.
Apart from the overall price and amenities available when you decide to live in a condominium, you must be aware of the reality that your stint in your unit may be affected by the condominium association’s decisions. Such decisions may be made in regular meetings that can cost an individual unit owner more money, and is virtually impossible to avoid being affected by at least a single decision. It is encouraged that you actively participate in the association’s meetings and forums. Living in a condominium is financially advantageous than apartment rentals, yet it will require your active participation in community-related events.
Talking about payments, the owner of units in a condominium property pay dues (include payment toward immediate expenses and future maintenance, such as roof replacement) usually for a maximum of 4 times a year, and dues are used to fund the maintenance of the property and its upkeep. There are employees to pay such as the maintenance and repair crew hired by the homeowners’ association, also to pay the guards, bellmen and other responsible for making the condo property living comfortable.
Condo units offer products not easily found in single-family homes, such as 1-bedroom, 1-bath setting which appeal to singles (40% of condo buyers are single females, 20% single males) and first-time home buyers.(The transaction when buying condo units is easier than when buying other real estate properties.
When searching for a condominium, we all want to find the one that we think is right for us. To be able to find the right one, there are preparations that you must go through. These preparations are not requiring anyone to do a lot of work, in fact, they’re pretty simple.
One of the benefits of living in commonwealth towers property Singapore residences is individuals can stay in appealing locations. Of course, when choosing a place to live in, location is one of the most important factors you need to consider. Apart from the spectacular views you can see, it is important to make sure that condominiums are situated in areas when individuals can easily go to the metropolis. In this way, going to work, school or even malls can be more efficient. Plus, condominium residences can provide you with a secured place for you and your family since their residences is equipped with the latest and most effective security devices.
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