Almost everyone knows the old property rule of “location, location, location,” but that’s an oversimplification. It’s possible to have a property that’s in a great spot, but of the wrong layout or block to draw the best resale value. This week, we spoke to someone who regrets getting a two-bedder condo unit, in an otherwise supposedly “safe” location. There’s a good amount to be learned from all this:S purchased a condo a few years ago, in the seemingly infallible location of Stevens Road.
Rentability, which refers to the ease of finding a tenant, is typically high. A lot of people would love to live near Orchard, and near an MRT station in a low-density neighbourhood. However, rental yield can be much lower than a more humble, mass-market condo or flat. As of 2023, a mid-sized , mass-market development will have maintenance fees of around $75 to $85 per share value per month; that’s about $375 to $425 per month for larger units. .
“When we first bought it, we really didn’t think about the practical aspects as a home,” S says, “For example, it has an open kitchen and no real yard area. As a two-bedder there was space for one kid, but not a second one. Also, there’s no helper’s room. So it’s good for a couple with one kid, but beyond that, it’s very limited.”