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Daily Archives: March 29, 2021

Real Estate & Property

Mistakes when Buying an Apartment in a New Building

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Most buyers are very responsible in selecting and buying property in the primary market. After all, often a good apartment in a new building costs a round sum, which no one wants to lose in vain. However, a sensitive approach to checking documents and finding a reliable developer does not save from some mistakes. In today’s article, consider the most common mistakes of buyers.

Error 1. Buying a home at random

Customers often do not calculate the liquidity of housing, do not take into account the infrastructure nearby, do not see the picture as a whole, but only its parts. Because of their lack of experience and analytical abilities, they choose options that do not grow in value over time. The same situation also applies to the selection of developers.

Aggressive advertising creates a halo of reliability around developers, so buyers do not check documents, do not read the contract, believe in the word of the sales department, etc. If we talk about Canninghill Piers, Singapore’s top three developers are joining hands for recreation of river promenade. All three developers worked on projects that are designed to surpass the industry standards. 

Error 2. Choosing an apartment that you cannot afford

Another unpleasant situation is the purchase of residential squares, which the owners cannot provide. For example, to buy a 2-3-room apartment in a new building, families take loans at high interest rates, borrow too much from friends and acquaintances and do not calculate their own financial opportunities. Instead of a good one-bedroom option in the centre or sleeping area, they choose a spacious apartment with 80-100 squares away from the main infrastructure. And forget about the cost of maintenance of large apartment.

Error 3. Don’t pay attention to the layout

Customers prefer more options, but completely forget about the layouts. For example, a good apartment for 100 squares can have a corridor of 8-12 meters, 1 bathroom, a few unnecessary balconies or loggias, a small kitchen. There are also objects with columns in living rooms, which also steal space. Similarly, buyers underestimate compact layouts of 40-50 squares. Even such a small apartment can be successfully divided into several rooms with simple structures (wood or aluminium) or build a wall of foam concrete.

Situated in Clarke Quay, Canninghill Piers location is in middle of the Singapore’s most famed riverfront entertainment. The integrated development comprises of 700 residential condos, hotel, serviced residence with hotel licence, commercial component and basement parking.

Error 4. Stuck in your comfort zone

When it comes to investment, the situation must be soberly assessed. The apartment for surrender or resale should be bought not in the favourite and inhabited area, but where the construction of new infrastructure is planned.

Proximity to the subway, the presence of shops nearby, a good road transport interchange also plays into the hands of the investor. Even if Canninghill Piers location is on the outskirts, but there is everything you need – it’s a good option for investment.

Error 5. Choosing a densely populated area

At first glance, it may seem that housing in a developed area is the best choice. But in fact, there are a lot of pitfalls. For example, constant queues in shops, hustlers on playgrounds and elevators, lack of places in schools and kindergartens, traffic congestion. Before buying an apartment in a very built-up area should think several times and determine important criteria for yourself in advance.