Buying a home is a major decision. It’s one of the biggest investments you will ever make, so it’s important that you choose wisely. The best way to do this is by choosing an investment condo in Santarli Bukit Batok EC.
Investment condos are unique from other types of real estate because they provide multiple advantages over single-family homes and apartments. These benefits include the following:
1. They offer better value for money than traditional homes
If you want to get the most bang for your buck when buying a home, then you should opt for an investment condo. This type of property has many features that are far superior to those found in conventional houses. Some of these advantages include the following:
Better quality construction –
You can be sure that the building materials used for construction are high-quality. This means that you won’t have to worry about repairs taking place later on, which would mean more cost savings down the line.
Lower maintenance costs –
Because investment condos are much newer than older homes, they tend to require less maintenance during their lifetimes. This is why some buyers find them to be cheaper to maintain.
More space –
Investment condos tend to come with larger living spaces than conventional properties. This makes them ideal for families and big groups of friends.
If you want to sell or rent out your investment condo, you don’t need to go through any formalities. Just let your agent know and they will take care of things for you.
2. They give you peace of mind
One of the most appealing aspects of investment condos is how safe they are. Unlike regular housing, there are no mortgage payments to worry about, and they aren’t prone to flooding or fire damage either. Furthermore, if you own an investment condo, you don’t have to worry about paying for insurance.
In addition to this, you also don’t have to worry about a sudden change in your circumstances, as investment condos are designed to withstand such changes. They are also easier to repair, thanks to their higher quality materials. In short, you get all the perks of owning a house without having to pay for it.
3. They provide you with a great source of passive income
Apartments and single-family homes come with a fixed amount of rental income every month, whether someone lives there or not. On top of this, they also require some significant upkeep expenses. For example, you will have to pay for utilities like water, electricity, and gas.
By contrast, investment condos are very different. They allow tenants to stay for free, while still generating a steady stream of rental income. They also generate enough income to cover your monthly expenses too, meaning you don’t have to spend anything on them.
4. They allow you to invest your money
Investment condos are a good opportunity for people who want to put their money into a relatively stable asset class. When you buy an apartment building or house, you have to live somewhere every day, which isn’t always easy. By comparison, investment condos allow you to keep your money where you feel safer and secure.
Because they are so durable, you can also use your money to expand your portfolio. For example, you could purchase additional units and rent them out to help offset your monthly expenses.
5. They are ideal for first-time buyers
If you’re looking to buy a new home, but don’t have a lot of cash to spare, then you should opt for an investment condo instead. These buildings are extremely affordable, making them a perfect option for first-time buyers. Moreover, they allow you to build up equity faster than you would with a single-family home or apartment.
This is because you aren’t required to pay as much upfront compared to other types of housing. Instead, you only need to pay for maintenance fees over the course of your lifetime.
Investment condos are excellent options for people who might otherwise struggle to afford a home. However, they aren’t right for everyone. If you are buying a home for you and your partner, then it’s probably best to stick to conventional properties.
There are plenty of reasons to consider investing in an investment condo, but they are certainly not the only ones worth considering. Before you sign on the dotted line, however, it’s essential to ensure that you understand what you’re getting yourself into before committing yourself to something that you may regret in the long run.
To learn more about investment condos, read our article on the pros and cons. We have also compiled a list of the best investment condos in Toronto below.