Condo Board Responsibilities

fdMany condo projects will have a board of directors who are responsible for the buildings, often managing them on account of the actual owners of the condo and ensuring that everything is done properly.

If you become a member of one of these boards you need to be aware of the responsibilities that you have towards the rest of the board and the people who have invested in the condominium. This is especially the case if you yourself are an investor and you’re looking to become a part of the board so that you can protect your own investment.

Playing By The Rules

The rules and laws that you need to abide by will have been created by both the state government and the governing documents created by the condo association that runs the project, so it is vitally important that any actions you take as a member of the board follow these rules.

This serves to protect the condo and ensure that no bad decisions can be blamed on a failure to follow proper procedure. It also protects investors from potential legal action against them should it

Condominiums Vs Houses Reasons to Buy a Condo

4vWhether you’re looking to move your family to a different location or are looking for your next real estate investment opportunity, you will have a number of opportunities available to you when searching for a new home. In most cases people will go for houses or apartments, as they are considered the more traditional options, but there are a number of advantages associated with buying a condo that are important to keep in mind before making your purchase. Here we will take a look at some of the major benefits so that you are better informed when you make your decision.

Community Values

Because condos consist of a large number of units, in most cases, it is possible to foster a far superior sense of community spirit in a condo than it would be in your average neighbourhood. This is especially the case in condos where the majority of units are owner-occupied. Because some many of the areas in the condo are shared, you will find that you build relationships with your neighbours much more quickly.

By contrast, a house doesn’t allow for the same level of

Living the Condominium Way

reExecutive condominiums are coming up in a fascinating way and there are so many reasons that can drive you to choosing one. There are lots of developers working on multimillion dollar projects so as to make the best of all the opportunities that present themselves.

Essentially, an Executive condominium is a hybrid between a flat and a private property. The units usually come with resale and ownership restrictions such as an income of at most $12,000 as well as an occupation period of some 5 years. Between the 6th and 10th year, the units can be up for sale to PRs without having any family nucleus requirements. This means that they are privatized partially. Once the 10 years are over, then restrictions are usually lifted and the property becomes privatized. The most positive side with such housing modes is the fact that buyers can receive grants which can be really helpful.

In this backdrop, there are new Executive Condominiums being sold today and people usually enjoy discounts of up to 20% as compared to other private properties being sold. The discount is also expected to narrow

Executive Condominiums, The New Way Of Housing

3xWhen someone is looking for a place to live, they are going to look at many different types of places. They are going to want to make sure that everybody is happy where they are living. New condos are an option for a lot of people to consider when they are moving to the area or moving to a different location.

There are many different options in each condo community. They have several things that are a big advantage in these communities. The landscaping in the area is able to be enjoyed by everyone.

A condo can be relaxing and be a good place for most people to live. They have many different decisions that are going to be made when someone moves into these locations. They have several places that are going to work well for people of all ages.

Some of these are adaptable for handicap resources that people will need to have also. There are a lot of options that people will need to consider when they are choosing the different condos that are for sale. New condos are going to offer a big

Is It Worth It To Ignore The Downsides Of Executive Condominiums?

saWhen we look at Executive Condominiums, all that we see are the advantages. However, there are also some downsides that need to be considered. They include the fact that the down payment is higher, interest rate illusion, and location over amenities and their comparison to the real condos.

To start with, there is no way one can get the HDB loan for the Executive Condominium. This means that they are ideal for persons who have been able to save up something to be able to afford the Executive Condominiums. The best thing about the payment of the down payment is if you are granted a CPF as it will settle most of the cash down payment. When you feel that you can afford an Executive Condominium, it is important to consider the impact that such spending will have on the overall financial planning. It is all worth it because housing is one of the basic needs that we have.

What makes an Executive Condominium worthwhile?

There are many great sides as to why one should get an Executive Condominium. One of the things you can note with

Executive Condominiums, The New Way Of Housing

3ffThe executive condominiums are a type of housing that is becoming very popular in some parts of the world. The first one was constructed in the year 1994. This housing is somewhere in between private housing and public housing and they really look like private condos. They are usually enclosed and come with security and a gated compound. One other thing that can be noted about the executive condominiums is the fact that they come with all sorts of amenities that the residents can use. These include things such as playgrounds, clubhouses, and swimming pools. The executive condominiums are also usually sold and built by various private developers who are well known in the construction circles.

The construction is encouraged by the government and their construction is actually done at a much lower price. This is because the land prices come with subsidies from government. The CPF, Central Provident Fund grants can be taken by the buyers so as to assist them in paying for the executive condominiums as sold by the developers.

The executive condominiums are subject to regulations such as those that are applied

Choosing the Ideal Executive Condo Unit

3dWhen we think about it based on the floor area for each unit, an Executive Condo is available in 1, 2, 3, 4 and also 5 bedroom units. The label is a bit different from the one made by HBD of 4 rooms where one is the living room and the rest are the bedrooms. In an Executive Condo, when the term 3 bedrooms are used, it means that there is a single master bedroom plus two other smaller bedrooms. A master bedroom comes with a toilet. The trend that has been seen with Executive Condo is where there are 3 toilets with the two bedrooms having a common toilet and another smaller toilet being situated in the kitchen area. This smaller one seems to be meant for the domestic help. There is also a utility room within the kitchen area.

Floor plans

There are so many different floor plans that you can go for when you are choosing that ideal Executive Condo. There are also all sorts of layouts that can be provided by the developers on their brochure. You can take advantage of them

Living the Condominium Way

sdExecutive condominiums are coming up in a fascinating way and there are so many reasons that can drive you to choosing one. There are lots of developers working on multimillion dollar projects so as to make the best of all the opportunities that present themselves.

Essentially, an Executive condominium is a hybrid between a flat and a private property. The units usually come with resale and ownership restrictions such as an income of at most $12,000 as well as an occupation period of some 5 years. Between the 6th and 10th year, the units can be up for sale to PRs without having any family nucleus requirements. This means that they are privatized partially. Once the 10 years are over, then restrictions are usually lifted and the property becomes privatized. The most positive side with such housing modes is the fact that buyers can receive grants which can be really helpful.

In this backdrop, there are new Executive Condominiums being sold today and people usually enjoy discounts of up to 20% as compared to other private properties being sold. The discount is also expected to narrow

Eligibility to Ownership of Executive Condominiums

edRecently, an announcement was made that the Executive Condominiums will be subject to a Resale Levy. A resale levy is a payment in a lump sum which is made to the HBD when one buys a subsided home. However, the levy is applicable to all Executive Condominiums with land sales having been launched after 9th December 2013. There are still some which aren’t subject to this particular levy.

There are also some laws governing how eligible one is so as to buy an Executive Condominium. For one, one has to be a citizen in the country. The nucleus of the family also has to comprise of a citizen or a permanent resident within the country. For one to be eligible, they have to be 21 years or older when the application is being made. If it is being bought under a scheme, then the applicant has to be 35 years or older.

There are different schemes that are applicable. Under every scheme, there is a set family nucleus requirement set. For the public scheme, then, the nucleus requirement is you, your spouse, children if any, parents,

Understanding Executive Condominiums

rgAn executive condominium is a kind of housing that was introduced so as to cater to the needs of different citizens, especially the younger professionals and graduates who were not in a position to access private property but only a flat. In design and their facilities, the Executive Condominium is actually quite similar to the private condos because of the fact that the development and the sale of the same is done by different private developers. An Executive Condominium usually comes with almost all of the facilities that many of the condos do. The difference is that there is a 99 year leasehold instead of a freehold and this is one of the biggest differences.

Eligibility

There are different criteria that a purchaser has to meet so as to be able to access a condominium. The applicant has to be a citizen or a permanent resident or both. They also have to be a kind of family nucleus just like is the case with different public housing schemes. There is a set monthly income that has been set so as to qualify for such ownership.

Incentives

There are

An Overview of Executive Condominiums

rExecutive condominiums were introduced so as to cater to the needs of different citizens and most especially those who were not in a position to own the private properties including the new graduates and young professionals. The design of the executive condominium is made so much similar to the private condos and this may be because they are done by renowned private developers.

There are so many executive condominium projects being carried out today and there are also so many qualified public developers who have come in so as to meet the market demands. The role of selling an executive condominium is also left to the private developers and if one is in need of a property or any kind of information regarding such developments, they are free to make contact with the developers so as to know more.

Executive condominiums can also be sold within the open market. This is only done after the minimum occupation period is complied with from the commencement of the occupation date.

Before you embark on looking for your ideal executive condominium, there is a need to check if you are

What You Should Know About the Ownership of Executive Condominiums

hExecutive condominiums are one of the best housing solutions that people go for today. In most cases, they are affordable and they can house a lot of people at the same time. There are various criteria to meet so as to be able to own an Executive condominium. Understanding the whole process can be of great help as it makes it much easier.

Documentation

There are different documents that one needs to provide during the process of application. Some of the documents that you may need to provide include income statements, marriage certificates, and birth certificates, NRICs among others. The best thing to do is to make sure that all the income statements are checked by the HR so as to ensure they are exactly what the HBD need.

Advantages of buying an Executive Condominium

There are different advantages that come with owning an Executive condominium. It is very similar to a private condo. In this case, there are facilities that the owners can enjoy and, usually, the facilities are meant for the use of the residents. The people applying for the Executive Condominiums can actually make use

Is A Luxury Condominium A Smart Investment

32Have you ever considered the idea of buying a luxury condominium as your next investment? Since condos are typically less expensive than a single family home, they can make accessible investments for those with little cash or who are new to real estate investing. However, they sometimes get a bad rap on their investment potential.

Like with most things in real estate investing though, a lot of preparation and attention to detail can enable anyone to make a profit. Here are a few things to consider about condominiums as an investment.

Hard Math Trumps Dumb Luck

The reason why people sometimes end up losing their shirt over a condominium investment, is almost always because they failed to understand the costs involved. Those new to land-lording tend to focus primarily on the rent they can charge, without giving full credence to the costs they will also incur.

Aside from your mortgage costs, you will also have property taxes, insurance, and potentially mortgage insurance, as well as maintenance and repairs. In addition to that, you may also incur advertising costs for finding tenants, legal fees if a tenant needs to

Luxury Is Within Reach When Investing in a Condominium

yAnyone one who is on a budget but still wanting to live in luxury should consider finding a condo for sale. Markedly less expensive than a luxury home, a condo offers all the same things one would imagine only in a condominium style living arrangement.

The main difference between a condo for sale and a single family home is that they are attached, however most new construction is now built with better sound proofing and views that make up for the fact they are shared with other individuals or families. They are certainly worth a look, as one can feel as though they’re in a million dollar home for far less bank.

What Makes a Home Luxurious?

There’s plenty that goes into building a condo that is considered luxury. Aside from the personal touches added to any condo for sale, such as paintings, artwork, state-of-the-art electronics and linens to name a few are those elements that exist before one moves in.

Location

Location can certainly make a condo for sale luxurious. Starting with the views, being able to look out a large window, step on a balcony or

5 Important Things Every Condo Should Have

rtThe demand for condos is still high and a good number of developers are making them available to meet with the market demands. New condos come with better amenities, units and benefits and they are not really equal. Some are better than others, but there are things or features that you can use to be sure that the condo you are interested in is really worth the money you are going to spend on it.

1. Good location

To many people, location seems like a cliché but it is something that still remains to be very important. If you are looking at a long time investment with your condo, then you cannot afford to overlook the location. The location should work in terms of family needs, culture, career and relaxation. In essence, a good condo will be located in the area that you love and one that is most convenient for you.

2. Luxury

It is amongst the things that make condos loved and above normal housing units. Luxury units tend to appreciate much faster and keep their value; hence you know that you have made a good

What Is a Better Investment

sdMany who find themselves on the hunt for luxury homes fail to consider a condominium. In 2015, condos offer much more than a glorified apartment feeling as they have in the past. They certainly raise the bar when it comes to house hunting. One can achieve everything within a condo that they can in a detached home, and realize many more benefits than imagined.

Choosing a condo instead of a luxury home that’s built for a single family is actually a smart decision. It pays to explore the advantages in order to make an informed decision as to what will work best for one’s personal living arrangements and their choice of lifestyle.

Less Maintenance

Owning a luxury home is stressful. As the sole owner, one is responsible for all upkeep including painting both indoors and out, landscaping, snow plowing, and all sorts of repairs. A condo is also an investment, but much of the repairs worries are eliminated and covered by condo fees.

This is a blessing for those who want to live a stress-free life. If they are busy or involved in other more important things,

What to Consider

2fOn the other hand, there are also plenty of builders willing to venture into a luxury project as they are in high demand and there are plenty of investors to choose from. Anyone searching for luxury condos will be accommodated in one way or another.

Of course, luxury is a loose term as it means different things to different buyers. The following are some things to consider when searching for luxury condos, which are “must haves” is truly up to the buyer.

Location, location, location!

Living in a convenient location is a very important aspect of choosing luxury condos for living in, renting or resale. A centrally-located building is preferred by most so they can easily access work, recreation, airports, shopping, eateries and more. However, some prefer living away from the hustle and bustle and have different ideas of what luxury is as far as location for condos.

For most, ambiance as well as convenience play a role in where they consider a luxury location.

Stunning Views

Peek out the window of condos that aren’t located well and see things like a brick wall, a freeway or construction. Luxury condos

Tips and Tricks to Finding the Perfect Condo

3ffKeeping certain things in mind will help anyone find the perfect location that will match the new owner’s lifestyle and other expectations with condos for sale. Here are some main things to keep in mind.

• Commute distance
• Nearby commodities such as shopping, hospital, banks and pharmacies
• Recreation availability
• School locations

Choosing the Right Building

Once one has narrowed it down to a general desirable location, it’s time to start the search for the best condos for sale in the area. Be sure to stick to the set budget and remember the above desires to fit into the resident’s lifestyle when checking out various buildings.

Consider the following questions for the building owner when narrowing down the search:

• Where is parking located? Is parking included in the pricing structure?
• What amenities are available with the building?
• Are there any regulations for common space?
• Who are the other residents?
• Is there commercial space within the building?
• How much are association dues if there are any?
• Is the building a hotel-condo project?

Finding the Best Condos for Sale

Once a prime location is

Why Live Downtown? Consider the Benefits of a Prime Location

3gThere’s nothing quite like the soul of a downtown location, it’s truly the heartbeat of the city. People have loved living in these areas for decades and can’t imagine anywhere else to call home. Whether they appreciate the comfort of having plenty of people around or being close to all the action there’s no denying its allure. Finding condos for sale downtown can be a true adventure.

Working Downtown?

Avoid a lengthy commute by investing in a condo for sale downtown. Fighting traffic can be a headache for most, and if they live nearby their workplace they can commute via public transportation, or even walk. Not only does this save money on a car payment and gas, but reduces stress quite a bit. Plus, get exercise without much effort.

Access to Everything

Having everything in reach is a huge plus to condos for sale downtown. There is culture, restaurants, arts and activities; virtually any type of entertainment one can imagine to include educational benefits for those who want to further their knowledge.

Just expect there to never be a reason to be bored. Chances of having friends close by

Buying a Condo What You Should Know

ewA condo is a type of home ownership. The individual units of a larger complex are not rented, but are sold to the individual instead. They can be townhouses, commercial warehouses, or renovated apartments. Basically, any multi-unit structure can be turned into condominiums. Many people who want to live in a large city want to buy a condo instead of paying rent on an apartment. On the east coast in the major cities this type of dwelling is very popular. When looking for a condo it is almost like looking for a one-family type home. It is best that you start by contacting a real estate agent because they will usually know about more properties for sale than you can find on your own. Look for a real estate agent that specialize in condos for sale.

In addition there are also some other tips that you should take into consideration before purchasing the condo. One important thing that you should do before even contacting a real estate agent is to plan out your budget and your annual income. By doing these two things you can