Category Archives: Lifestyle

Condo Living: Is it Suitable for Families?

Living in a condominium might not be the first choice for many families, but it can be an excellent option for those who want to have all the benefits of living in a large city without sacrificing comfort and convenience. With condos offering amenities such as pools, fitness centers, and other recreational facilities, combined with flexible living spaces and more affordable pricing than traditional single-family homes, condo living is becoming an increasingly popular choice for families. However, there are also some drawbacks that potential buyers should consider before deciding if condo living is right for their family.

The Pros of Condo Living

When considering whether or not condo living is suitable for families, one of the most important factors to consider is cost. With prices typically lower than traditional single-family homes, condos can be an attractive option for budget-conscious buyers looking to purchase a home in a desirable area. Another benefit is the amount of space available; depending on the size and layout of your unit, you may have plenty of room for all family members despite its smaller footprint compared to a house. Additionally, many condos offer amenities such as swimming pools and fitness centers that make them even more convenient options than traditional homes for recreation and entertainment.

Location Benefits

Condo living offers another major advantage: location. If you’re looking to live close to work or enjoy easy access to urban conveniences like restaurants and shopping centers then buying a condo in the heart of the city may be ideal. Many condo buildings are within walking distance from downtown areas which can provide great opportunities for exploring all your city has to offer without having far away commute times or expensive transportation costs associated with suburban dwellings outside city limits.

Community Atmosphere

Some people may not think about this when choosing between a house and a flat, but don’t forget about the community atmosphere! Depending on where you choose to buy your new home, there may be several other units in close proximity, giving residents the opportunity to get to know each other over time – something that can often be harder to achieve with larger single-family homes that are spread out in neighbourhoods. In addition, some developments may include additional social activities such as clubs or outdoor gatherings, making them attractive destinations from both a leisure and social perspective.

Safety considerations

Having neighbours nearby isn’t just a social benefit, it can also provide additional security measures that can put some people’s minds at ease. Whether it’s doorman services, entry systems or surveillance equipment, certain developments take extra precautions to protect residents as they go about their daily lives. This level of security should definitely be taken into account when debating between houses and condos, especially if children will be present at any given time.

Maintenance responsibilities

One thing that makes condos different from houses is the responsibility for maintenance; unlike owning a single-family home, where the owner would have to take care of any necessary repairs themselves, maintenance tasks are usually handled by the building’s staff (although the owners are still likely to be responsible for covering related costs). This means no worries about mowing the lawn, snow shoveling, footpaths etc. – However, if anything needs to be done to the unit itself (e.g. painting walls, cleaning carpets, etc.) then the owner would most likely have to foot the bill here too…

The final verdict

While every situation is unique, ultimately only the person(s) involved can truly determine if buying a condo suitable fit their particular needs and requirements! If budget conscious willing to sacrifice a little privacy in favour of convenience and affordability then this could potentially be a great solution however conversely those wanting larger lot acreage less shared communal feel single – family home route is probably still better bet… Download Hillhaven floorplans today to learn more about top tier Keystone Properties Group development near downtown Cincinnati!

The Top 10 Reasons To Buy a New Launch Condo In Singapore in 2023

With property prices on the rise and new condo launches popping up all over Singapore, investing in a new freehold condo launch 2023 has become an attractive option for many. Whether you’re looking for a place to call your own or an investment opportunity, purchasing a brand-new freehold condo launch in Singapore in 2023 has some great advantages. Here are the top 10 reasons why you should invest in a new launch condo this year:

1. Prime Location

One of the main benefits of buying a condo is that they are located near amenities such as shopping malls, restaurants, parks, schools and more. When choosing a new launch condo to purchase, make sure that it is close to these amenities – not only will it be more convenient for you but also increase its value when it comes time to resell it.

2. Modern Design

New condos come with modern designs that make them much more appealing than older models. These designs often include features such as energy-efficient appliances, high ceilings and open floor plans which can make living much more comfortable and enjoyable. Furthermore, many of these modern elements add additional resale value if you decide to sell your unit later.

3. Flexibility & Choice

When buying a pre-owned unit from the secondary market, there may sometimes be a different flexibility or choice compared to buying directly from developers at a new launch project. With newer projects, buyers have access to different layouts and sizes depending on their needs – something unavailable with existing units from the secondary market. Furthermore, developers typically offer attractive discounts during promotional periods which can further sweeten the deal for potential buyers.

4. Low Maintenance Costs

Brand new condos come with warranties that cover any faults due to construction defects within certain durations after completion – something which existing units do not have as warranties expire once handed over by previous owners or tenants. This means less money spent on maintenance costs over time if there are any issues with the building or fixtures & fittings within your unit itself since most of them would already be covered under warranty while still being relatively low cost even outside of warranty coverage period thanks to newly implemented laws limiting service fees charged by management corporations/strata titles etcetera since July 2020 (referring point).

5 . Investment Potential

Buying property is one of the most reliable investments there is – especially when done right! If you rent out your property over the long term (or even on a short-term basis via websites such as Airbnb), property ownership can provide great returns on investment, along with other related tax incentives, making this form of investment an attractive option for those looking to capture rental income via a fixed income without being too exposed to the risk of stock market volatility. Even if you’re not interested in letting, purchasers can benefit from capital appreciation potential on eventual resale in the future.

6 . More affordable than ever

The government’s cooling measures implemented between 2013 and 2018 have kept residential property prices largely stable, albeit falling slightly over the period, providing greater affordability opportunities for prospective buyers ( see point ). In addition, lower interest rates coupled with the increased availability of financial assistance grants and subsidized loan products offered by various banks and financial institutions make financing easier than ever before, easing some of the pressure on budget constraints while allowing buyers to maximise their leverage over the payments made on an annual basis, thus freeing up funds elsewhere.

7 . Connectivity improvements

With the extension of the MRT lines, the Cross Island Line ( CRL ), the Jurong Region Line ( JRL ) and the forthcoming High Speed Rail linking Kuala Lumpur & Singapore, getting around the city has become much faster & easier these days; significantly reducing travel times while improving connectivity between locations nationwide, resulting in higher desirability among target groups.

8 . Excellent rental yields According to SRX Property’s latest report released in April 2021, household heads earning < $3000 per month make up the majority of the tenant pool; indicating that robust demand levels remain strong despite external economic uncertainties amidst the Covid 19 pandemic crisis situation, thus ensuring that the good outlook for rental yield performance remains positive subjectively from 2023 onwards.

9 . Tax Incentives / Benefits Provided By IRAS

As a part owner registered under section 13(8) of the Income Tax Act, you may be eligible to receive various tax benefits provided by the Inland Revenue Authority Of Singapore based on specific eligibility criteria. These benefits include personal income tax relief of up to 15% against the total annual amount assessed, CPF Housing Grants, and several other subsidies available depending on the particular circumstances involved in each case scenario. These motivations are specifically designed to encourage ownership rates amongst the general public, thus creating a conducive environment for stabilizing housing market related matters going forth into future prospects ahead. Here are some specific reference points to consider when adhering to the compliance regulative framework set forth under said precedents.