Important points to know about condo

Important points to know about condo

If you buy off-plan, you have the opportunity to select your own floor plan from a variety of options. You can pick from a host of features and enhancements, which will ensure that when you move into your new condo it’s exactly what would like, completed to your specific requirements to provide the home is something you’ll be happy with and enjoy for years to come.

A key thing you’ll see when purchasing condos off-plan is that you’ll receive discounts. After the units have been completed then the cost of selling the condo usually as a result. Being early can help you get the best prices However, at the exact time, the earlier you commit to purchase the more likely you will be to buy completely off plan before the foundation is laid. 

LIV@MB located in the prime Meyer/Mountbatten neighbourhood in the East Coast.

It has 1 to 4 bedrooms types & only 298 units built on a relatively large land plot due to its low plot ratio in the area. It’s only 3 mins walk to the upcoming Katong Park MRT and short walk to East Coast Park. It’s also within a short drive to Marina Bay, Shenton Way, Jewel at Changi/International Airport, etc.

Another reason to look into a condo sale off-plan is that you can secure the ownership of your condominium in exchange for the right to have a lengthy settlement giving you necessary breathing room when making such an investment. It is typical that the payment is due after the project is completed and the transfer occurs in the days before you move into your new residence and begin enjoying your future.

Ensure you do your research into the developer, the builder, the architect and the engineers. You must ensure that the project that you’re considering is being constructed by the top local construction firms and managed by the best developers, which means you can purchase with confidence.

The location is crucial when looking at condo sales off plans. You want to try and locate yourself in an area that is considered to be highly prestigious, and one where you are confident that you’ll receive a high return on your investment in the coming years. Be aware that when you are looking at an area that you can pay considerably more for single family home than you will for an off-plan condo. After the condo has been completed and sold, it will be worth more and that means you’ve made a a good investment in a desirable area you can take advantage of.

There are several important aspects to be aware of in relation to the contract that you sign. Go through every sentence in depth and ensure that you are familiar with the contract, and then have your lawyer read it , and assist you with parts you’re not sure about.

One of the first things to consider within the agreement is whether there’s an “Cooling Off clause. Nowadays, all contracts must contain this clause when buying off plan. This clause allows you to have the opportunity to choose a time in which you are able to pull out of the contract if you decide to change your mind at any time. Make sure to read the contract carefully to make sure you have an opportunity to cool off and ensure your mind is at relaxed.

It is also important to make sure that all the specifications of the plans you have chosen are detailed and added to the contract. In the event that you find that after your unit is finished you find something is missing or isn’t as you wanted then you have the option of having it corrected. This ensures that you are aware of exactly what you’re paying for and also ensures the contractor will complete your condo in accordance with your personal specifications.

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