What is the difference between HDB and condo
Condos typically offer more facilities and amenities than HDB flats, such as swimming pools, gyms, and security services, however, these amenities come with a cost, therefore, resulting in higher maintenance fees.
Why live in condo Singapore
Generally, condos have fewer residents and if you drill down further to the floor level, there are comparably fewer units on one floor versus the number of units on a HDB floor. Some condos even offer ultimate privacy and peace with private lifts that take you straight to your unit.
What is the difference between an apartment and a flat
An apartment is a more commonly used American term for a cluster of rooms that could be over one floor. A flat is a British term for a set of rooms that forms a residence within one floor.
What is the difference between apartment and condominium Singapore
While condominiums are similar to service apartments in Singapore in terms of amenities, the main difference is that a condominium doesn't usually have hotel services like housekeeping, and while an apartment building is often owned by a single person or corporation, a condominium is owned by the residents themselves, …
Can I buy HDB and then buy condo
Yes. After the 5-year minimum occupancy period (MOP), if you're a HDB owner and want to own a private condominium. If you want to buy a condominium, you need to purchase a condo at least 5 years from the date you buy your HDB flat.
Can I buy a HDB if I own a condo
If you sell your condo first before buying the HDB, you would have 0 properties in your name at the time of buying, so you can get a higher loan amount. If you buy first, you would already have 1 property (i.e. your condo that you haven't sold yet), so the HDB would be your 2nd property at the time of buying.
What are the disadvantages of living in a condo
Cons of Condominium OwnershipYou may not be able to decide when maintenance and repairs get done.You may have to pay for amenities that you might never or rarely use.Less privacy in some condominium units and possibly more noise.Possibility of special assessment charges for unexpected repairs.
Is it worth buying a condo in Singapore
Overall, investing in a condo in Singapore can be a good choice for those looking for a low-maintenance rental property with potential for capital appreciation. However, the high cost and limited control may not be suitable for everyone.
Why do British people say flat instead of apartment
Flat, as as a dwelling, is derived from a Scottish word “flet” meaning a floor or storey of a house or building. It also has a secondary derivation because the rooms of an apartment are usually all on the same level, so an apartment is flat.
Why do British people call apartments flats
The etymology of flat originates from the Old English word “flett,” dating back to the 1300s. The term means level and in one plane, which nowadays relates to many different things, such as a deflated tire, lying prone, and a dwelling on one story. Hence, the term flat is used to describe a one-level apartment.
What makes a condo different from an apartment
The biggest difference between a condo and an apartment is ownership. An apartment is defined as a residence that is rented, often as part of a larger residential building. A condo can be similar in structure to an apartment — usually a unit within a larger residential building — but condos are owned instead of rented.
Is a condo more like a house or apartment
Condos are similar to apartments, in that both are likely to share multiple walls with neighbors. There is one major point of distinction, however: You own a condo, and you rent an apartment. Of all the home types on the market for sale, condos “require the least amount of maintenance.
Can a couple own 1 HDB and 1 condo
Can I keep my HDB and buy a condo Yes, you can keep your HDB. You will just need to ensure that your HDB's 5 years Minimum Occupation Period (MOP) has been met, and to pay Additional Buyer Stamp Duty (ABSD) on the condo as it is your second property.
Can I buy HDB if I have overseas property
In Singapore, it is prohibited to buy a Housing Development Board (HDB) flat if you already own real estate. In this context, real estate includes other HDB flats and both local and overseas private properties.
Can a Singaporean own 2 HDB flats
Citizenship: Singaporean or Singaporean Permanent Resident (PR) Cannot own another HDB flat.
Do condos have a life expectancy
READ: How to Earn Back Your Investment on a House and Lot Fact #2: A corporation's lifespan is 50 years, but it can be renewed. Your condominium doesn't have a lifespan, but the corporation managing it has one.
What are the pros and cons of condo fees
Some of the benefits include having access to a range of services, evenly spread costs among other owners, and peace of mind knowing that maintenance needs will be taken care of. On the downside, fees can add up quickly and some people may not like having their living environment regulated by a governing board.
What are the disadvantages of a condo
The cons of buying a condoFees. The luxurious amenities provided by condo complexes come at a cost to the residents.Condo association regulations. Choosing to live in a condo means you have to abide by community rules.Resale challenges.Lack of privacy.Delinquency.No land ownership.Limited storage.
Is it hard to sell condo in Singapore
Selling a condominium in Singapore may be trickier than selling an HDB flat. You are selling a private property after all, and with less regulations in place, you'll want a reliable agent on hand to keep everything in check every step of the way. Unfortunately, that doesn't mean that you get to just sit back and relax.
Is it better to live in a flat or a house UK
One of the biggest decisions you'll make when buying your first home is whether to buy a flat or a house. If you want lots of space and a garden, a house might seem like the most obvious choice. But if you're on a very tight budget or you want to live in a city, a flat might be better.
Is flat British or American
The flat is a British English term, whereas Apartment is an American English term. A Flat has one storey most times, and an Apartment can be multi-storeyed. A flat sometimes refers to low/middle-class accommodation, while an apartment refers to luxurious and refined living.
Is flats British or American
In British English, a flat is a set of rooms for living in, usually on one floor of a large building. She lived in a tiny furnished flat near Sloane Square. In American English, a set of rooms like this is usually called an apartment.
Do British people say apartment or flat
In the US, you will rarely hear the term “flat” but in the UK, you will often hear both apartment and flat used. An “apartment” is the Americanised version of “flat”, but they are the same thing is what we call it in Britain.
What is the difference between apartment and condo in Malaysia
The answer is that the land status of condos is “residential-titled” whereas the land status of serviced apartments is “commercial-titled.” That is why the laws, tax rates and functions between the two are very different. There are however exceptions to serviced apartments being commercial titled.
Why do you prefer living in a condo
Flexible Living
A mid-sized condo is perfect for buyers who want to downsize from a larger home or who don't want to spend a ton of time maintaining a house. A smaller space provides more freedom for residents who want to spend time traveling or enjoying their city instead of constantly working on home improvement.
