Is A Condo Unit A Good Investment This 2019?
Investing in properties comes in different types. One of the most popular these days are condominium units. If you have been shopping around for a property to invest with, whether you are from Singapore or from other parts of the world, you probably already know by now that condos make good investments.
Buying A Condo – Why Is It A Good Investment?
A lot of investors are still in doubt whether condominiums are good investments. In fact, this is still a debatable topic, especially in the real estate industry. Some property investors swear that these are better investments than detached homes, other investors think otherwise. But are they still the best choice this 2019? We will let you decide. Here are some good reasons why you should invest in a condominium unit.
- Cheaper Than Single-Family Home. Generally speaking, buying a condo is way cheaper compared to other types of real estate. This is because an average single-family home is typically larger in size, this is why it is also expensive than a condo which is smaller in size. Of course, there are other factors to consider when investing in a condo, like a cost of living in Singapore and the HOA fees, but a real estate investor will spend less when investing in a condo.
- Maintenance Is Not A Worry. This is probably one of the best benefits that you can get from investing in a condo unit. You will not be responsible to maintain the building, as well as the common grounds and other areas. No mowing of the yard or fixing the roof to make sure that the property is in top-notch condition. All you need is to pay monthly condo fees and this will cover all of your maintenance costs. Other people will do the job for you.
- Rental Incomes Are Better. If you are planning to invest in a condo unit in One Pearl Bank and rent it out, this is a good choice when talking about real estate investing. You can rent the unit out and add it to your source of income. This is very profitable in the real estate market especially in Singapore which has a high rental demand for condos.
Tips When Buying A Condo
If you are a property investor, you must always remember that good location plays a very important role when it comes to the success of your investing career. Buying a condo is considered a good investment if you get the right location. Condos that can make good rental properties are the ones in the urban areas that have easy access to a luxurious lifestyle.
Always do a market analysis first to find out the rental demand for your condos based on the location of your choice. You would want to earn profit our of your investment. This is to make sure that this property can give you a good return on investment. So is buying a condo a good investment this 2019? With the rapid rise in condo-living demands in Singapore, the answer is a big YES!