Guide to buying a newly-launched condo in Singapore

Buying any property is one of the things that every adult wants. One of the reasons is because a property is a sure investment. It is a practical investment of all the hard-earned money. That is why one should be 200% sure before deciding to sign the contract. Singapore particularly has one of the most expensive costs when it comes to property prices. This is because there are many people fighting to land a decent unit or space. 

The high number of demands caused developers to produce and provide consumers with many options. There are various housing options in Singapore that you can choose from. There are landed properties that have varying sizes. There are also apartments all over Singapore. Condos are also available and are gaining popularity. Condos are increasing in popularity as they have many perks. Despite the relatively expensive Singapore condo price, owning or living in a condo has many benefits. One of the most popular units nowadays is the units in the M condo. This is because they provide many amenities that make the Singapore condo price worth it.

There is also a newly launched condo which is the Penrose Condominium. It has the usual amenities a condo complex offers. For those who are first-time buyers. It may be tricky looking for a condo unit. Especially when you are eyeing those that are newly-launched. So to help you get started, here is a guide to buying a newly-launched condo in Singapore.

#1 Hire an agent

First advice to hire a property agent. This is not necessary, although it has many benefits. This is ideal, especially for busy individuals. Property agents are experts and they know the market well. They can find you the best deals when it comes to Singapore condo prices. They can even land you the best units in the M Condo or other condos that you are eyeing. This step can be optional.

#2 Prepare financially

This step should be done even before you decide to finally buy a condo in Penrose Condominium or anywhere else. It is not a surprise that condos cost a lot. That is why you should be prepared financially. Singapore condo price will surely make a dent. So, only decide to buy a condo unit when you are already financially prepared. There are various articles that can help you save up to get that dream condo unit.

#3 Make a list

When you already have done the first two steps, you can now start making a list of your dream condo. The Singapore condo price on your list must be just within your budget limitation. Your choices should be those that are realistic and are practical. One of the best choices is the Penrose Condominium as it has many amenities or it can also be the M Condo as it is equally worth your money.

#4 Schedule for viewing

After making a list of your preferred condo units, schedule the viewing by contacting them directly or through the agent. A viewing must be done at least two times to make sure that you are not missing anything. The M Condo management allows this as it increases potential buyers. The Penrose Condominium is also not strict when it comes to this, However, now that we are in the middle of a pandemic, an online viewing may be more suitable. 

#5 Review and sign agreements

Once you have visited all the condo units on your list, you can now choose which one you like the most. Be sure to be practical and that the unit of your choice fits your needs and lifestyle. Once you and the landlord have agreed on the Singapore condo price, you can now start with the contract. Review contracts thoroughly as they might be clauses that are not in your favor. The best thing to do is to hire a lawyer to help you with the condo agreements. Penrose Condominium has one of the easiest and most comprehensive condo contracts. After this, you can now sign the contract or purchase agreements. 

#6 Pay and collect your keys

After the contract signing, you can now pay the agreed price. Some condo managements require a downpayment to secure the unit. After a while, the keys to your new The M Condo unit will be available and ready for you. Buying a condo unit is a long process, that is why you should be ready financially and mentally when you decide to buy one.

Know more

There are many condo units available in Singapore like The M Condo. You just have to thoroughly find one that fits your lifestyle. Visit us today at SRX Property to know more.