Investing in a property is an investment for a lifetime and it is due to this reason that one should not hurry in buying a property. There are many people who might fool you for your money. So, it is essential to do proper market research and then seek the services of a reliable real estate agent to get the house of your dreams. One township that you can consider investing in is the Piermont grand in Singapore.
Those who are willing to invest in a property should pay attention to the following discussed tips.
Tips to help you in buying a perfect condo:
Pending construction – some brokers take money from customers by giving hope that they will provide fully furnished and well-constructed condos. The person who is going to buy condos should visit the site itself and check the condition of the building. They should not depend on the images or videos shown by the brokers. Even online information also cannot be trusted easily.
Occupancy requirements – you should be confirmed that at least 90% of other condos of the complex are sold; this ensures you that the property you are buying is reliable to buy. The condos come with restrictions that they can be allotted to only one individual, that’s why the person should properly check the transaction papers whether it contains the buyer’s name or anyone else. It’s better if you buy the condo on finance where already 50% of people are permanent residents that will help more in getting information about a locality.
Lending rules – the mortgage policies come up with many rules which further help in getting condos on finance. The brokers provide so many budget rules, which minimize and changes the interest rates on installments and the rates of down payment. These rules are also associated with money paid on other services provided by condo complexes like health club, gym, spa, and restaurants. People should be clear about the money that will be spent on maintenance and replacement of these things because after buying you will be bound to pay the amount as other residents will pay.
Insurance – before selling the condo on finance, the person should confirm that the association which is providing condo has fidelity insurance. This insurance becomes very useful at the time when a third party between the buyer and seller misuses the funds. This insurance helps the association at the time of misuse of funds.
Renting a condo – people who rent homes, think that after buying condos they can easily put it on rent, but the reality is these condo selling associations have some legal aspects according to which any condo owner cannot sell or rent the property without the permission of the complex association. And if still, the person breaks this law, legal actions are taken against that individual.
Litigations – while buying a condo on finance, the buyer should find out that the association is not indulged in any legal case because till the association will stay involved in the case, it will not get permission from the government for selling condos. If you are buying condos from this type of association then there are complete chances that your money will get wasted.