Source: Piccadilly Grand / CDL
Despite the additional cooling measures implemented by the government last December, Singapore’s private properties' overall price index still went up by 0.4% in Q1 2022.
This is the eighth consecutive quarter of growth.
This shows how resilient the local property market is, with local buyers as well as overseas investors.
If you are looking at buying a condo, here are some key tips on buying the best unit you can find.
1. Unit facing
Property experts will advise you to buy a north-facing unit because the sun always rises in the east and sets in the west.
So, a north-facing unit will avoid direct sunlight but that does not mean you avoid direct sunlight altogether.
As the sun moves from east to west, any unit you choose will have to face direct sunlight at certain times of the day.
However, north-facing units are your best bet to avoid the heat as the early morning sun is more preferred than the stifling afternoon sun.
However, some buyers would like a pool facing unit and depending on the layout of the development, it may not necessarily be a north-facing one.
So you will have to decide which is more important to you - having a great pool view or having a unit that feels like living in a microwave oven.
2. High floor or low floor
99% of people buying condos will choose a high floor as you can get a nice view, unblocked scenery and more privacy.
However, the higher the floor, the higher the costs, so you have to ensure that the top floor units are within your budget.
Units on the high floors also enjoy better ventilation and air quality, so the higher cost may be a good trade-off. For new launch condos, the high floor units are usually the ones that get snapped up first.
Units on the lower floors tend to be nearer the amenities such as the pool, gym, car park and tennis courts and are more accessible and they cost less than the high floor units.
When leaving for work or going for a swim, the best thing about staying in a low floor unit is that you can simply take the stairs if the lifts break down or take too long to come.
3. Accessibility
If you own a car, then this wouldn’t be a big issue.
However, as car ownership in Singapore is getting ridiculously expensive, buying a condo near MRT stations will be key.
A short stroll to the nearest MRT station to get to work beats having to take a feeder service to get to the MRT station.
With more MRT lines such as the Thomson-East Coast line and the Cross Island Line, buying a condo within walking distance to an MRT station should be one of your key factors.
Besides easy accessibility to other parts of the island, chances are that the value will increase once the future MRT lines and stations are completed.
Even if you are buying private property for investment purposes, having a unit near MRT stations will be easier to rent out and command a higher rental price.
4. Amenities
Depending on your family’s requirements, buying a condo near amenities is important.
If you have kids that will be going to primary one very soon, it will be wise to buy one near schools or the school of your choice. Given the heavy traffic, commuting to and fro school can be time-consuming and quite a hassle.
For most of us who are working full-time, choosing a condo near supermarkets and F&B outlets makes sense. You spend less time commuting when doing grocery shopping or “ta-pauing” food, time which can be spent more productively.
Besides schools, F&B outlets and supermarkets, other amenities you should look out for are parks (if you enjoy nature and greenery), libraries (if reading is a hobby) and medical centres, in case of emergencies.
5. Size and layout
Many new launch condos tend to be smaller in size as compared to older developments.
If you are planning on starting a family soon, you will have to consider the size and layout of the unit. As the family grows, space will become an issue if you do not plan properly.
As private property prices continue to go up, it is important to choose the correct one as you may be priced out of the market in the future.
To help you find your best condo unit, check out MOGUL.sg, with its interactive 3D map that shows you the nearest amenities, transport links and sun direction.
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