The joy and pride you feel while buying your own house with your hard earned money is boundless. Getting your own private condo is the best thing that can happen in your life, and gives you and your family a beautiful lifestyle. Condos, like Martin Modern come with various cutting edge amenities and will act as a symbol that displays your high status.
However, buying your own private condominium isn’t as simple as buying a villa. It involves a relatively huge investment and there are many things that need to be sorted out before you actually sign the paperworks. Here are a few things to look into before buying your own private condo:
- Check your eligibility
Right before choosing your flat, make sure to check your eligibility because there might be certain restrictions and rules to private property ownership. If you are a foreigner and wish to buy a flat in another country, there are a few residential property laws that might impose some restrictions on foreign ownership.
Some countries, like Singapore restrict foreigners from owning vacant lands, semi-detached and terraced houses, and individual bungalows. However, they are allowed to purchase some big building units around 6 stories or higher. It’s highly advisable that you check for your eligibility to avoid any legal troubles in the future.
- Find a good location
Many people simply rush through buying a private condominium to boost their status and symbol of luxury. What most of them fail to note is the location of their private condo, and they end up buying a luxury condo that’s sparsely accessible. You need to do some research, like is it easily accessible, is there any schools or hospitals nearby, is it in the center of the city, and more. Location is very important, but the price might vary with the location.
- Learn about the different types
When it comes to condominiums, there are two types – high-rise condos and low-rise condos. They are classified by the height or the number of storeys in a building. Many trusted builders like Martin Modern are famous for their high-rise condo that gets a cool breeze and is more often quiet and gives you privacy. High-raise condos are the most preferred and are costlier than low-rise ones.
- Have a backup plan
The process of buying a perfect home is not a simple task; it will take a lot of time and make you weary. You would obviously have certain factors in your mind, like the location, storeys, builders, interior choices, and more while hunting for a condo. Finding one that meets all your requirements is very rare. So choose a good condo and keep the option open for better ones.
- Check for their features
Make a list of features that you’re looking for in a condominium, and short-list a few condos based on your choices. Now go their websites or visit in person to check if they have all the amenities that you had jotted down. Some condos might have even better facilities than you wish for, but might lack in some other aspect. All condos wouldn’t have a multi-storey car park, BBQ pits, pool decks, vast gardens, and other facilities. It’s highly advised that you make a research on the amenities that you require and the ones that are actually available.
- How sure are you?
Once you have made a list of all your findings, like the facilities, area, and more, start evaluating your path towards owing a condo. Think about when and how you’ll move in, if borrowing a loan how much will you have to repay, is it for personal use or you’re renting it, and more.
If you are very much confident about buying a condo, like Martin Modern then decide if you can go through the procedures all by yourself. Otherwise, you can very well hire a real estate agent who can take care of your documentation and paperworks.
- Get an agent to simplify the process
You need to be extra careful while buying a condo and don’t end up facing any run-ins and troubles with the law. One good way to make your buying process easier and smooth is hiring a real estate agent. However, all agents are not the same; some might give very good service while others may mislead you. Make sure you select a trusted real estate agent to avoid getting hoodwinked.
- Learn about the condo developers
Before buying a condo it’s recommended that you get to know about the developers and other shareholders. This will give you a clear picture about the quality, increase your trust towards them, and help you know about other valid credentials. Some trusted builders, like Martin Modern come up with condos that can be bought without any second though. Get to know about the trusted building industries and developers around you and try to follow them to get updates about new condos and villas.
- Housing loans and insurances
Learn about the various bank loans and insurance schemes available in the banks for buying a property. You will literally have to get down on your feet and visit several banks in person to learn about their property loan schemes. Going down to a bank personally will also help you in striking an even better deal than the ones that are available on the brochure. Processing loans might take a few days to even some weeks, so make sure you reach out to them in advance.
- Get to know your neighbors
You must also request for details of fellow buyers and get to know who’s going to live next-door. This might help you know if your neighbors are good people and sometimes will also be a deciding factor for buying a condo. If you’re a pet person or allergic to pets make sure you choose your neighbors wisely to avoid any future troubles.