Important Tips To Think Of Before Buying An Executive Condominium

When we talk of housing units in Singapore, one of the most popular forms of housing to be seen there is a form of hybrid housing unit called ECs. ECs are merely executive condominiums that are a comfortable cross between private housing and public housing. You live in your very own private condominium but with household luxuries such as 24 hours guarded security, swimming pools, gyms, playgrounds and even clubhouses as well. A lot of people might rethink their decision of investing in such a place, but it is easier than you think! If you meet the necessary criteria in order to invest in one you have the benefits of living a luxurious lifestyle with many facilities, you can become the owner of the private owner after a certain number of years and it is also a very good investment for oneself as well. However, buying or investing in an ec is not extremely easy either because there are quite a few details to think about before you do. So, if you have an idea of investing in an ec, here are some things you need to think of!

Selling the place

Many people do not invest in an executive condominium such as a Signature at Yishun showflat location in order to sell it. Most people simply want to enjoy living in an ec. However, before you invest in the place you have to make sure that you know what you want in the end. As some gurus say we must always “begin with the end in mind”. After around ten years our ec becomes private property, so before purchasing the place think of what you want to do to the place.

The Income

Your income is not usually a big factor to consider if you are buying a house or renting out a flat, but when it comes to visiting a signature at Yishun show flat or any kind of ec, you have to remember that your income matters! ECs were designed with the “sandwich class” in mind, who are people whose income exceeds the needs for public housing it is not quite enough for private property either. So according to the rules, you need to have a solid income of only $14000 to invest in one!

Personal necessities

According to the laws of the country, when it comes to investing in an ec, you need to have the right kind of family unit with you. If you are single and want to invest in one, it is not possible which means you would either need to have your family or a spouse backing you up.

This entry was posted on Thursday, November 16th, 2017 at 4:41 am and is filed under Business Services.

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