Important Things to Consider When Buying an Executive Condo in Singapore |
Posted: March 15, 2019 |
Singaporeans are very conscious about their status in regards to private-public housing division. An executive condo implies a status upgrade. This is a public-private hybrid kind of housing that provides benefit of CPF Housing Grants to homebuyers while enjoying condo amenities. If you are in the market to buy an executive condo, then there are a few significant considerations that you need to make. Your EC will transform into private housing property post ten 10 years The biggest drawback of ECs is they begin as an HDB property, but after ten years of time they get officially identified as private property. You will have to contend with owning a private homeowner. You will see a list of executive condominiums Singapore, that are viewed as a better investment at that time without being bounded by restrictions due to HDB on selling. You can easily sell your accommodation to PR and foreigners, and also buyers are not exposed to HDB rules on the types of properties to buy and not to buy. NumberOneProperty is one of the best places to find a list of ec in Singapore. You have to pay less and also get to enjoy CPF grants If you are the owner of an executive condo, then you are eligible to get “CPF Housing Grants”. This assumes that your earning is quite low while still able to afford the EC. The amount of CPF grants that Singapore citizens who are first-time applicants can get is between $10,000 and $30,000. This will happen when their income is $12,000 and less. If you are looking to invest in executive condominiums, you should check the most reliable real estate property blog “NumberOneProperty”. Less Cost One of the most important reasons why people are interested in buying ECs is due to their less cost as compared to full-fledged condos. Though they are less priced, but you would find all the common types of amenities built into it. These are gym, swimming pool, etc. Conclusion If you are confused about whether to buy an EC or what type EC should you go for, then the above tips will definitely help you form the right decision.
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