When asked regarding the American dream of homeownership, many people normally have in mind one family detached home in the suburbs. But that mindset is quickly changing as more folks are picking condos or town homes as their very first home, particularly in highly priced property markets like Singapore. Most customers do not understand that condos are being constructed and located in many different places. They may be located at a homemade construction in town or within a sprawling complex in the suburbs in exceptional school districts and will fluctuate radically in interior design and amenities. Listed here are two reasons a purchaser may wish to think about a condo as their very first home purchase.
1) Affordability – Less Costly Than Single Family Home
Condos have a tendency to be less prices, roughly 20% to 30 percent less than present independently household homes. In Singapore, where the median cost of a home is 559,640.00 that may be a savings of roughly $150,000! However, cost alone isn’t solely the variable for picking condos since there’s a new marketplace for luxury condos located in prime locations for example http://parkcolonial-official.sg by the shore, in cultural facilities in town or in gated communities in golfing communities.
2) Better Urban Planning And Design
The cost of property is really expensive in several cities that towns are requiring higher density housing near or in urban areas, therefore consequently; builders have changed into construction condos and townhouses. This change in home enables a condo owner to reside close to the city and near where they work instead of at the suburbs and therefore prevent long commuter drives. To exemplify this expansion, “In 2001, condos and townhomes were only less than 10% of their 9,453 new homes marketed at the nine-county Bay Area (Singapore), according to Hanley Wood Market Intelligence, a property market research company. By 2005, that number had jumped to 42% of those 14,821 homes marketed. “