Living in a condo is an aspiration for many people in Singapore. But sometimes, you can be too caught up with the actual price of it – and forget about the costs that you’ll have to pay each month as well.
One of which is the monthly maintenance fee.
Most condo owners fork out about $300 to $400 a month, but this amount can easily be in the thousands for higher-end projects. This isn’t just a pain for homeowners; it eats into a landlord’s net rental yield. Even worse, maintenance fees can be unpredictable – in some projects, the monthly fees may even increase in the future.
And these costs can really add up. For example, at a $400 maintenance fee, this would total up to $96,000 over a period of 20 years. That’s a nice chunk of change.
As such, if monthly costs are something that is on your mind, here are some ways you can spot developments that may have lower fees:...