The tapestry showflat of the lovely Singaporean culture can be very intimidating. By having a single look people fall in love with the architectural beauty. Condo flats are supposed to be like this, gleaming with all the glitter and gold. But before you get carried away in the shining armour let us talk about some preserving measures. These measures will form part of your family needs, financial needs, and probably some cultural needs too. Also, the changing regulations of Singapore market should affect your buying decision. With this fair objective look down the tips to consider before you seal the deal on any Condo. Know about Additional Buyer Stamp DutyAlthough the ABSD rules are really impactful for the second time buyers, the revised rates of the stamp duty will affect the private property buyers. As part of the calculation, the first-time buyers of private condo need to consider ABSD as a temporary adjustment. Later upon assessment, the government checks whether he or she owns a different house. If yes, then has he sold the same in the 6-month window. So as a novice buyer, you need to know what rates prevail in Singapore. Currently, the ASBD rates have changed from 7% to 12%. Learn the Property Tax benefitsOwning a private property condo and living in the same are two different ideas. A person can be the owner of a different tapestry Singapore but will live only in one. The property tax benefits apply to the house you are going to live in (Note: it still has to be your first-private property). Such owners enjoy a lower tax rate compared to investors. Thus, make sure you compare the rates before paying any vague amount. Now we come to the essential amenities and appearance of the Condo. This must affect your buying decision more than any other factor. Ask what you are paying forIt might sound very irritating to sound petty question to the manager of the association. But it is a good practice on the buyer’s part. As a prospective homeowner, enquire for every single detail about the property. Talk essential about the amenities includes in and around the Condo. Cause that’s where all your money will be going…. You might also here a term “Association fees” which is generally charged for the maintenance of common amenities. Thus, the question that should come rising is; what are those shared facilities you will be enjoying with the condo. Look around the cityLet us stop you before the magnificent beauty of Condo lures you inside.
Even with all the amenities at the place and at an affordable price, the condo is not perfect just yet. When you start a new life with your family, the facilities around the city also matter. Look around the beauty of the tapestry Tampines and check whether it has a supermarket, transportation medium, schools and colleges at a fair distance. Make sure you take a round on these 4 tips before investing your money on any house. Private ownership has its own perks. However, condo ownership and Singapore rules can make a difference if you have other needs.
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