If you want a new home to live in, a freehold condo is a fine choice to consider. This property will offer you a sense of ownership, along with modifications right. Also, from a real estate perspective, investing in or getting a freehold condo will lead to high returns during an en-bloc sale.
Unlike other properties, the freehold will belong to the buyer indefinitely. You will not only own the condominium but will also own the land that it was built on. By extension, any building on that same land will belong to you. You are also free to make improvements and modifications as you deem fit for the property.
The difference between this building and others is what makes it very unique. Although the price of the condominium is higher, it comes with many benefits that are worth it. If you are interested in getting a freehold condo and do not know how to go about it, check out Belgravia Green for assistance.
Investing in this property will be one of the best decisions to make. But how sure can you be about this? Let’s discuss some benefits of making this choice and certain downsides you can expect. This information will help you make a good choice.
Benefits of Investing in a Freehold Condo
The following are some of the benefits of choosing this:
Many home shoppers are put off by the prices of freehold condos. The benefit of this high fee is that you get a property that includes not only the house but the land it was built on. That is truly remarkable and cost-effective. You wouldn’t find such in regular condos or other properties.
Enough Land Space
You can decide to construct mini buildings around the condominium if you want. This makes it a good investment to make. Anything can happen within the land as there is enough space to explore.
You are the one to care and maintain for the lawn or any other exterior work on the property. You wouldn’t need to take permission from a higher authority or the government before making any maintenance modifications to your house. You can either choose to hire someone to help you or do it yourself. For some maintenance strategies to follow, watch this video.
The resale value of this property is very high. You have both the house and its exterior surroundings to put for sale. You will be able to make sales either way. However, it is wise to check the government or building regulations governing the property before you put it up for sale.
Full Control of Your Asset
Nothing gives a homeowner more satisfaction than being able to have full control over their property. The only authority you might follow is your condo estate partner. Other than the company, all decisions would be left for you to make and follow.
A Social Lifestyle and Community
If you are social and love interacting with new people, you would love to stay in a condominium. You will have neighbors around the estate and you can always socialize with them. You can invite them for brunch, a glass of wine, or a pool party.
Downsides of Investing in a Freehold Condo
Having full control over your property is nice, but there are certain downsides to bear in mind before buying this house. Here are some of them:
It Can Be Expensive to Maintain
Being in full control of the repairs and maintenance of your condo comes with a price. You would have to foot the bill for any expenses you make. Sometimes, this might be very expensive for you to cover.
It is Not Budget-Friendly
Unlike other houses, freehold homes are very expensive. If you have a budget to follow, you don’t need to invest in it. For some other budget-friendly houses to consider, check here: https://home.howstuffworks.com/
Investing in a freehold property is a very good real estate decision to make, especially due to its resale value. It usually yields a high price and is currently preferable in several urban areas in different countries. If you want to have full control over your asset, then go for a freehold condominium.