One of my goals in life was to get a luxury condo in Singapore. I didn’t want a house since I don’t plan on getting married or having kids, which renders a lot of that extra space useless. The smaller condo space is enough for me, and I wanted to ensure it was good quality.
I worked until my monthly salary gave me a reasonable budget for my monthly condo payments. It was time to buy the condo of my dreams. The problem is that I needed to learn how to purchase a condo unit or any property. Thankfully, once I settled on which condo unit I wanted, I could coordinate with the condo developer to finish the purchase. Here’s the step-by-step process I had to go through to get my luxury condo.
Choosing the Right Condo Unit and Developer
The most challenging part of this process was deciding which condo unit I wanted to buy. After all, this will be where I plan on spending the rest of my years, so I had to choose wisely and ensure it isn’t a place that I’ll feel tired of anytime soon. One way to narrow down the list was by looking up the building developer of each condo. I wanted to ensure they were reputable, with an established track record and a specialisation in residential areas.
Communicating with the Developer
Once I finally chose a condo unit, I spoke to the developer about any necessary documents I needed to provide them. I asked because I knew many developers have different requirements, and I wanted to cover my bases. This moment is also when you can lower your condo unit’s price while you converse with the condo developer. Feel free to ask any questions about available sales, discounts, or loans (if you need one). I checked every possibility for a sale or discount and asked to apply it to the price. Once I was satisfied, I made my offer, which got accepted.
Finalising the Purchase
Once my offer was accepted, I got an Option to Purchase from my condo developer, which is a legal agreement. Once I paid 1% of the condo’s original price, I got to the condo unit before anyone else could, and thus that condo is no longer available to the public unless I let it go. I also ensured that I could pay the downpayment, which is 25% of the total cost. There are other fees I had to take care of, such as insurance and maintenance costs.
After this, I finally got my keys and moved into my new luxury condo in Singapore.
Are you looking for the best luxury condo in Singapore that suits your needs? Keppel Land is a real estate developer firm in Singapore with a portfolio of several residential, commercial, and lounging properties. Find the perfect condo for your family or the best office for your company within their sustainable and well-designed buildings. Visit Keppel Land’s website today for more information about their finished and ongoing projects in Singapore.
