With many new and gorgeous condominiums like the Martin Modern springing up in the market, you should consider buying or investing in properties for yourself. Here are some things you should know before buying a condominium in Singapore. A condominium is a property complex sold in individual units after subdividing. Each owner has a space allocated to him or her within the complex. The owners of different units share the hallway, elevators, parking area and the swimming pool within the condominium’s boundaries.
If your purchase tends to lean towards the acquisition of a condominium, there are regulations that you need to know before making the purchase. Each has a blue print that serves as a guideline. The guidelines or the bylaws govern the way each of them operates. Here are the standard regulations that you will be expected to follow.
Use of public facilities
When you purchase a condominium, you will be required to abide by the rules and regulations of the use of public facilities. The public facilities will differ from one condominium to another. Some of them include the parking area, the recreational parks, and the hallway among others. If for instance, you have one or two parking slots, you will be expected to respect that. In case you need more parking slots, talk to the management before parking on your neighbours’ slots. Occupying more parking slots than you should is not a considerate act and it will bring much inconvenience to your neighbours.
Not all condominiums will allow you to keep pets. Therefore, take your time to find out whether the one you intend to purchase allows a pet. You will need to keep up with your search until you can identify one that can accommodate your pet.
Apart from pets, you may be a lover of animals and probably own some at your present residence. Before you start moving up your livestock to move to your new home, please check out whether the animals are allowed. Most condominium residents would consider livestock a nuisance and may therefore not allow them in the apartment. To avoid frustrations and disappointments, please seek guidance from the owners before making the purchase.
Though you will own the property, there may be some types of renovations that will not be permitted. You may need to seek approval from the condominium’s management committee before proceeding with certain renovations. Any changes may affect the complex and other residents. Remember that professional architects and property developers designed the condominiums with specific plans. If for example, you wish to renovate your balcony, you may have to double check if that is authorised as it may affect the overall outlook of the condo. You may raise these questions when you head down to the condo’s showflat to find out more about the restrictions.
Once you make the purchase, other expenses will still come your way as long as you are the owner. These costs include maintenance costs, board salaries, the salaries of the employees such as security officers and any other employee that may be in charge of the property. However, these costs may vary from one property to another. It is advisable to take time with the sellers or the board of management and get a break down of the fees that you will pay before purchasing.
Before making your move to own a Condo in Singapore, take your time to understand the bylaws to manage your expectations and avoid frictions with your new neighbours.