Singaporeans would think that living in a condo would be an expensive one especially Margaret Ville Condo. And it could be tough to pay for it for years or months. But it seems that some of them do not really have any idea of what a condo cost there. By reading this article, Singaporeans would probably get the idea and would not be worried about the expense that it might cost them living happily in the country.
The top 3 Ideas below could be very helpful in buying a condo in most affordable way.
Searching through the internet and identifying the most legitimate price of an affordable condo
When searching through the internet, there would be millions of results that you would see and it is definitely confusing on how to choose the legitimate one. But of course, you must judge a post wisely by checking out the website and finding the best review. You can also make it as a basis to know on how much a condo would really cost. Say for example, your budget would be around $600,000 and below, try to search for a cost of condo that would range between those digits. And good thing, if $600,000 is your budget, that is the most affordable condo you could already have.
Monthly cost matters and make sure that it would be affordable for you too!
So, if you could have $600,000 for a condo and the only way for you to pay for it for more affordable way is to do it monthly. But how is it possible? Well, as an example, a 20% down payment of the amount with just 5% of the price of the property must be paid in cash. The 15% can be through CPF or Central Provident Fund. Then the 80% remaining can be financed by the bank. So that means $30,000 in cash and $90,000 comes from the CPF for your down payment. The remaining amount that you need to pay monthly could come from the 30-year loan that you could use with 1.5% approximate interest rate per annum. The $480,000 could be paid for 30 years with $1,653. It can be more affordable if you could split it into two by a co-borrower, your parent or spouse through CPF still.
Eliminate your belief of high amount of conservancy charges on condos
No, it is not so expensive. Just think the idea that the over $1,000 conservancy charge are for high-end units that has more services. But the affordable condos are mostly $350 to $400 each month. That is really not too bad at all!
Getting a condo property is now one of the more options you can consider once you want to settle in Singapore. Singaporeans need to know that they can afford to get a condo unit at most affordable price. They can now spend their excess fund they have for other important expenses that can help all throughout their living in the country. Owning a condo property can be a really enjoyable one.