Download CryptoTab App FREE - CryptoTab is a free app for iOS and Android that pays you to browse the websites you normally would on your phone or your computer! Start earning your first Bitcoin today!

Do You Know the Difference Between Regular and Freehold Condo?

Posted by ajraquedan on March 15th, 2019

Due to easily manageable size and the community sense that a condo from NumberOneProperty can create, their relative cost due to proximity to amenities condominiums are always the hottest selling property of real estate.

You may be considering to buy freehold condo Singapore as your home or as investment. However, many people may not know that condos will actually come in 2 different categories which is freehold and regular.

Regular condominiums

Most of you must be familiar with regular condominiums. They are usually developed by company like NumberOneProperty who have several units, that can be in hundreds, within single structure built on single piece of land.

Every home owner will only own the unit and not the land on which the condo has been built. Also, they will not have the title of the buildings or development. Most condo owners prefer this option as they just need to pay simple straight fee per month.

Freehold condominiums

For any freehold condo for sale Singapore, the owner will not only own the unit but also land where the building stands. That means the owner also owns that buildings which has been erected, including his condo building itself.

There are number of advantages with this option. Firstly, the investment will be much more valuable, as land is also valuable part of the real-state. You can make some improvements later in your lawn and other areas.

Most of the cases your condo corporation or the builder will retain little bit of control over what any freehold owner may or may not do with his or her property. Therefore, do not assume it as carte blanche.

In addition to that, you should not forget that your regular condo ownership will mean that various cost of improvement will be shared by all other owners of condos, hence freehold will mean that the owner will bear the cost alone.

Finally, keep in mind that upkeeping and ownership of the land and buildings will be up to the owner while maintenance of all common elements of property e.g. parking, playgrounds etc. is shared among all the owners, which is as decided by condo corporation.

Also See: Freehold Condo, Relative Cost, Manageable Size, Condo Corporation, Condo, Freehold, Owner

Rock Guitar Mastery
Master Thousands of Your Favorite Songs In As Little AS 60 Days!
WordPress Plugins and Themes - WP Marketer Tools
WordPress Themes and Plugins To Help Grow Your Online Business and Make It More Efficient.

Turn Your Hobby Into A Business
Whether you want a full time income, or are just trying to supplement your income with a side hustle, now is your chance to turn your hobby into a business!

7 Secret Magic Tricks
How To Instantly Impress Anyone You Want Just Using Any Of These 7 Secret Magic Tricks...

Advertise Here