3 Tips to Select The Unit That Will Increase in Value
Regardless if you’re getting a property for personal living or investment, be sure to get something that will give you “more bang for your buck”. However, with so many different units within a HDB, EC or condominium project, it’s critical for buyers to choose the right unit that will have an increment in value down the road so property owners can take advantage of price growth when it’s time to upgrade. The fundamental to choosing a unit that will deliver profit growth is to look at your purchase through the eyes of a future buyer. To select a worthy new launch unit, here are a few factors that you have to take into consideration.
Having a unit in the right location can make a whole lot of difference, whether it’s along the corridor or at a corner. Getting a unit that is located at a corner gives you more privacy. If your unit happens to be near the lift, staircase or rubbish chute then you’ve to be prepared that there will be lots of traffic or even commotions going on outside your unit, especially during the festive period when gatherings are happening at the corridors and many people are walking around.
2. House Facing
In Singapore, the sweltering weather is upon us almost everyday. We are experiencing insanely high temperatures during most of the months. Therefore, it is always wise to steer away from East West and South West Facing units unless you love living in a sauna-like environment. These facing units are exposed to the scorching afternoon sun all year round, so it's likely that your unit will get heated up easily. It will be a better choice to opt for North South or South East facing units as your apartment will not be facing any direct sun or getting some morning sun only.
On top of that, the newer BTO, EC and condominium projects are getting more dense, which results in the distance between the stacks getting closer. It will not be a pleasant experience if your neighbours living at the opposite stack can look into your living room and vice versa. The last thing that you want to know is that they can actually peek into your bedroom when you’re changing.
Last but not least, find out if your unit will be facing any multi-storey carpark, MRT or LRT station or track. These facilities can cause sound disruptions in your daily living and cars that are moving around the multi-storey carpark at night may shine their headlights into your apartment if your unit is facing the carpark.
3. Level of The Unit
Seasoned property investors will know that certain units can command a premium compared to other units within the same stack as it has breathtaking views. However, going for a low or high level unit is up to personal preference. Yes, higher units might have a better view of the estate and the unit will be bright and airy as it will be less likely to be blocked by trees or another building which might affect natural light and ventilation from coming into the house. However, higher level units tend to be more expensive (expect to pay 0.5% per additional level), hotter and dustier. And the worst thing is, if you happen to run into a lift breakdown, imagine how many flights of stairs you have to climb… Oh, and did we mention that you might need to spend a longer time waiting for the lift at the top level, especially during peak hours?
On the other hand, if you prefer low level units, be prepared to deal with pests such as cockroaches, mosquitoes and other creepy crawlies as your unit will be nearer to the rubbish chute and also the grass patches downstairs. Not forgetting the dripping wet laundry from your neighbour upstairs. Also, you’ll have to bear the brunt of loud noises from the heavy traffic, children playing under the block and communal events such as gatherings, weddings or funerals that are typically held at the void deck. All in all, if you are sensitive to noise, getting a unit on a low level might not be an ideal choice.
As we mentioned from the start, choose your property with the consideration that someone else will purchase your property in the future. The factors that we’ve listed above are some of the most basic requirements that most buyers will look at. Even if any of the factors above are not important to you, assess all the factors holistically as it may play a huge part in your future buyers purchase decision.
Should you require any advice in detail pertaining to your case on how to select the best unit, feel free to reach out! If you have any other property-related queries, don’t hesitate to contact us as well!