If you’re from Singapore, you might have heard of the Hundred Palms EC, which is a set of condominium units that are currently under construction, with the prospect date of opening anywhere between February 28, 2020 and February 28, 2023. As early as now, however, that are already accepting inquiries regarding the features of their would-be condominium units. While this may be tempting to avail of, given that it’s new, and has all of the advantages of Condominium living, there are some disadvantages you might have to get used to in the long run. In preparing for your move to it, here are some of the not-so-favorable things that might come your way.
Safe but not that Private
Many luxurious condominium units are really akin to that of staying in fancy 5-star hotels, but this time around, it’s for a long-term stay, possibly being as long as 10 years. Just like hotels, you can expect units to be separated just by a single wall, and several of them in a single story of the building. If you don’t like seeing people more often than not, then you might have to get used to seeing your neighbors every now and then.
Owning a condominium unit is basically just like owning a space in the air. In real estate terms, this is a far cry from that of actual homes situated in lots and you don’t really own a piece of land. This makes selling terms quite difficult, and the price of it not that high should you decide to give it up and transfer somewhere else.
Given that you’re all practically living under one building or complex, you can’t expect to have your own set of rules for living. There are some modifications to your space which might need special permission do, and there are policies on energy conservation might have to follow, which is a far cry from the autonomy brought about by being in your own actual house and lot.