Investing in a property is a major decision for most of us. It comes with a huge financial commitment and hence requires meticulous evaluation before you make a final call. One of the most common types of properties in Singapore is the 99-year leasehold, which comes with its own set of pros and cons. In this article, let us take a deep dive into the benefits of living in a 99-year leasehold property.
Long-term stability
The most significant benefit of living in a 99-year leasehold property is its long-term stability. As the name suggests, you will be leasing the property for up to 99 years. This lengthy leasehold period helps in securing a long-term living arrangement. The chances of being asked to vacate the property are less. You also have the option to renew the lease once it expires. For broadening your understanding of the topic, check out this suggested external site. Within, you’ll discover useful data and extra facts that will enhance your educational journey. bartley vue price https://www.bartleyvues.com.sg!
Affordability
Another key advantage of leasehold properties is their price point. They are significantly cheaper than freehold properties, making them an affordable option for homebuyers. This can be particularly advantageous for first-time homebuyers who might not have a budget for a freehold property. Additionally, the lower monetary threshold of a 99-year leasehold property can help you get approved for a mortgage more easily.
Low-maintenance properties
Most freehold properties are maintained by the homeowners themselves. In contrast, 99-year leasehold properties are often managed by a professional property management company, which provides a range of services such as regular maintenance, gardening, security, and cleaning. This way, you won’t have to worry about the upkeep, and it can save you a lot of time and hassle.
Appreciation potential
While freehold properties can appreciate faster than 99-year leasehold properties, the latter can also see an increase in value over time. As the years go by, the value of the property might increase, especially if the government announces plans for urban development or infrastructure projects in the area. Also, if you make improvements to the property, it can translate into a higher resale value in the future. So, a 99-year leasehold property can prove to be a viable investment over the long term.
Access to quality amenities
99-year leasehold properties are often situated within prime locations, and this can be advantageous in terms of accessing quality amenities and services. These properties are generally located near commercial hubs, schools, public transportation, and other community facilities. Therefore, you can save time and money on transportation and other related expenses. If you want to learn more about the topic, Click to access this insightful guide, to supplement your reading. Find valuable information and new perspectives!
Conclusion
Undoubtedly, buying a property is a big decision, and it requires a thorough analysis of various factors. A 99-year leasehold property can be an ideal choice, given the long-term stability, affordability, low-maintenance, appreciation potential, and access to quality amenities. Remember to do your due diligence and research before making the final call to ensure that you are making a wise investment.
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