While you're renting, understanding condo market trends can help predict rent stability and landlord behavior. Properties in high-demand areas with good resale prospects typically have more stable rents and better maintenance. However, rapidly appreciating properties may face higher rent increases at renewal. Consider the development's age, location, and market reputation when evaluating long-term rental viability.
You need to plan beyond just monthly rent. Budget for your security deposit, utility bills (electricity, water, gas), internet, and any regular maintenance or air-con servicing costs. Also factor in moving expenses and possible agent fees.
Lower floors offer easier access during elevator outages and lower utility costs, but may have noise from foot traffic, security concerns, and limited views. Higher floors provide better views, less noise, and more privacy, but depend on elevators and may have higher cooling costs. Mid-level floors (3rd-8th) often balance these factors well. Consider your mobility needs, noise tolerance, and whether views matter to your daily comfort.
Condo management committees can make decisions about facility usage, renovation rules, and additional charges that affect tenants. While you can't vote, stay informed about upcoming decisions through your landlord. Major changes like facility closures or new rules may impact your rental experience. Good landlords will communicate these changes and their implications.
Students and young professionals often prefer HDB rooms for affordability and convenience. Expat families typically choose condos for amenities and international community. Established families might opt for landed houses for space and privacy. Consider your lifestyle priorities: budget-conscious renters suit HDB, amenity-seekers prefer condos, and space-needing families benefit from landed properties.
Research the area's safety record, future development plans, and property value trends. Check proximity to essential services like hospitals, schools, and shopping centers. Evaluate public transport connectivity and traffic patterns during peak hours. Consider the community demographics and whether the neighborhood aligns with your lifestyle preferences and long-term plans.
Consider your long-term needs and budget carefully. 4-bedroom units cost significantly more in rent and utilities, but offer future flexibility as families grow. The extra space can serve as home offices, guest rooms, or hobby areas. However, if you won't use the space effectively, a 3-bedroom might be more economical. Factor in the cost per square foot and your actual space utilization.
Equal split is common, but consider room size differences and individual usage patterns. Master bedroom tenants might pay slightly more due to ensuite usage and larger space. Track air-con usage if one person uses it significantly more. Some roommates prefer separate electricity meters or smart plugs to monitor individual consumption for fairer billing.
