Homeownership is a topic that everyone talks about. Countless articles discuss the many pros and cons that have to do with homeownership, from the advantages and disadvantages of buying versus renting to the benefits of apartments versus actual homes.
Many also discuss what comes after purchasing a home. Furniture shopping is a task to worry about if ever you need to buy a sofa, bed frame, or kitchen table, for example. DIY interior decorating is another if you wish to modify the look of your home.
Now, Singapore residents have one more factor to ponder about before they can even get to the design aspect of owning a property. As the city becomes more modernised, a new question arises for aspiring homeowners: which between a house and a condominium is the more worthy investment?
Condominium living has plenty to offer to those who wish to live updated and lush lifestyles. Among the many amenities that condos, especially the newer ones, have to offer are luxurious facilities, ranging from swimming pools and jogging trails to courtyards and parks.
This means there is no need for you to worry about having a larger lot to build a backyard pool or garden. Depending on the developer, some even offer in-house spas, gyms, and tennis courts. So, you do not even have to leave the property for your daily morning exercise.
Aside from these facilities, condominiums also offer bonus security that owners of traditional houses would need to pay extra to have. Guards are allowed to roam the grounds, and some are typically posted at entrances and exits. Not to mention the fact that CCTVs are featured in buildings, as well.
Security is not the only added bonus feature, though. Condo owners get better treatment in the form of custodial staff. Oftentimes, condominiums have reception areas that can accommodate visitors. Cleaners are also available to maintain and clean common areas.
One more benefit that condo living has to offer is less upkeep. Generally, condo owners will only need to worry about maintaining the interior of their residence. Any mishaps that may happen to the exterior is spoken for by the developer.
Considering all of these, it would not be surprising that many homeowners find themselves drawn to these benefits. However, some might bring up the fact that most things have cons to accompany the pros, and condo living is no different.
With condominiums, some units share walls with that of neighbours’. If the proximity to other residents does not bother you, then there is nothing to worry about regarding the location.
Those who are worried about the higher fees need not fret, too, because the money spent on these additional costs tend to go to the overall maintenance of the building.
So, to answer the question from before, purchasing a condominium is the better investment of the two if you do not mind living close to neighbours and residing on a property that often runs smaller than traditional houses.