Hidden Costs of Owning Normanton Park Condo – Part 1: Buy vs Rent

It is an expensive decision to buy a condo. Normanton Park will discuss with you the Hidden Costs of Owning a Condominium in Singapore.

Property in Singapore is highly sought after

If you’re reading this blog post, I am sure you are excited about purchasing property in Singapore. You’re not the only one. Many multinational corporations around the globe, including businesses employing more than 500 workers, choose Singapore as their regional headquarters.

It’s easy to see why. Singapore is close to many of the Asia’s major cosmopolitan centers. It is also one of the safest and most secure places in Southeast Asia. It has an excellent financial infrastructure and all the modern living amenities foreigners expect.

Condo units in Singapore’s various districts are highly sought after, which is not surprising. No matter if you’re looking for a freehold or a less expensive option, you should understand that your cost profile will include more than the Singapore dollar you spend on your new home in this amazing city.

Hidden costs, in addition to the purchase cost

It’s not about the purchase price. It is not just about the purchase price.

There are many other costs you should be aware of after purchasing your property. You pay before, during, and after you buy your property.

This information is not meant to discourage. Instead, I want to give you a full picture of the condo life in Singapore. You have probably prepared for any housing costs if you’re an expatriate working for a multinational company. It is wise to keep an eye on these extra costs so that you can make a better decision.

A condominium is a property that you own vs. Rent one

In certain situations, renting a property might be a better option than buying one. If you’re on a long-term assignment, or if you have been promoted or named as the country manager or regional manager for your company, it might be a better idea to buy a property.

Keep these hidden costs in your mind, however. These hidden costs have been shocking for many who moved to this area of the globe. It is not what you want to discover. These hidden costs are not something you want to find out as you move into your new home month after month.

These are only some of the basic costs, depending on where you live or your housing arrangement. Other costs may be involved. These are just a few of the possible costs.

Stay tuned for Normanton Park price. Interested buyers can now look at the CPF Housing Grants for EC /EC Eligibilities and book appointment to view the Normanton Park showflat which will be ready in H2 2020. Meanwhile, you can check out more information at CPF website if you plan to use CPF for down payment  or installment.

Read Hidden Costs of Owning Normanton Park Condo – Part 2: 4 Main Tips to take Note


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