5 Key Consideration Before Buying an Executive Condo

Choosing the right luxury condo means taking a lot of considerations into account. There is a lot to think about, from location and features to price and ways to pay for it.

The key issue we notice for first-time buyers looking to buy executive condos is how complicated the process is. Buying an executive condo isn't as simple as walking into the showroom and picking the property you would like to get.

Checklist You Need Before Buying an Executive Condo

Whether you're a first-time buyer or an owner with a lot of experience, this article will give you useful information to help you make a smart choice. So, let's get started and talk about the most important things you should keep in mind as you look for your perfect executive home.

1] Location, Location, Location

It matters for everything!

The site of an executive condo is one of the most important factors in deciding how desirable and convenient it will be. No matter how great the layout and sizing of the property may be, the key consideration of a property will always be how great the location is.

Think about the following things:

Why it's Important for Parents to Choose the Right Location

When it comes to signing up our kids for primary school during the P1 Registration time every year, Singaporeans are known for being very kiasu. Parents would always want their kids to get into the best schools, schools in Singapore prioritize based on:

1. Singaporean Citizens (SCs) living within 1km of the school

2. SCs living between 1km and 2km of the school

3. SCs living further than 2km from the school

4. Permanent Residents (PRs)* living within 1km of the school

5. PRs living between 1km and 2km of the school

6. PRs living further than 2km from the school

To increase the odds of getting into a prestigious school, parents are more likely to spend more on their kids' education.

For Working Adults

If you don’t wish to drive, having accessible transportation means being able to travel less to get to work and also more time to enjoy being at home. This is probably the major plus point that buyers are looking for.

According to EdgeProp, properties near MRT are able to command a 15% premium as compared to similar properties that might be further away. So if the extra 5 to 10 min walk is not for you, then investing slightly more for a property is the right choice for you!

For Retiree

For those looking for retirement, having an abundance of amenities is a major plus for them. Having amenities such as healthcare services and a community center to participate in could be something to look out for.

2] Amenities

The “extras” that come with an executive condominium can make your life a lot better. Keep an eye out for the following:

Condos features

Many executive condos have a variety of amenities, like swimming pools, gyms, tennis court, party rooms, and BBQ pits. These features can help you relax, meet new people, and stay active without leaving the comfort of your own house.

Recreational Spaces

Think about how close parks, jogging paths, and green areas are. Being close to these recreational places can give you the chance to do things outside and get closer to nature.

Places to visit nearby

Check to see if there are any popular tourist spots, cultural sites, or places to have fun near the executive home. Living near these places can make your life more exciting and full of life.

3] Community

Different communities have different vibes and serve different kinds of people. Some might be good for families because they have schools and parks, while others might have a more active nighttime and entertainment scene.

Picking a place to stay has a level of "vibe" in it. If it suits you, then great!

4] Growth Potential

Of course if you are investing in a property, you want to make money right?

Executive condominiums (ECs) are very popular with HDB upgraders because they are affordable and can be a good investment. Even though new ECs are set up and decorated just like private homes, they cost about 20–30% less than private condos.

After 10 years of TOP(temporary occupation period), executive condos are treated as private properties. This means that foreigners are eligible to buy, making the demand for executive condominiums even higher.

5] Eligibility

While the idea of getting an EC may seem like the best deal in the market for most. Sadly, it is not for everyone.😥

Given how profitable an EC can be, it does have a number of measures need to be taken to apply for the property. If you would like to apply for an EC, be sure to check out our article on “How to Check if You are Eligible for an Executive Condo”.

Picking What’s Best for You

To choose the right luxury condo, you need to think carefully about a number of important factors. You'll be able to make a good choice if you look at the location, amenities, price, financing options, and other important factors that are covered in this guide.

Remember to do thorough research, visit showrooms, and talk to real estate professionals to find the executive condo that fits your wants and preferences. Start looking for your dream executive apartment right away.