One of the most practical real estate solutions today is freehold condos. They have gained popularity with investors and buyers. Freehold condos offer numerous benefits. So if you want to buy a home, this is the time to consider dutamas new project, freehold condominium units.
Full Ownership of Property and Land
Freehold condominiums allow you to own the unit and the land that it occupies. Freehold properties provide full ownership with no expiration. You are not bound into a lease that expires after a certain period. This offers complete control of your property which allows you to rent or sell without losing your rights.
Potential for Long-Term Value Appreciation
Freehold properties’ value appreciates better than leaseholds. Simply because the value of the land that you now own with the freehold increases over time. This means this condo can be sold for a good price in the future. This is going to be highly sought after especially when located in developing areas of the city. Freehold owners benefit fully from property appreciation.
Have More Control Over Your Property
Owning a freehold condo unit provides greater control of your property. You are not restricted by a bond like in a leasehold condo. This gives you the freedom to decide on modifications or selling it in the future. Knowing that you have more control over your property makes your living experience more comfortable.
Strong Potential for Investment
Freehold condos can have a good profit potential. You can rent it out to generate income. Some prefer to sell the unit once the value has appreciated. Properties in prime locations attract long-term tenants. It’s also good for short-term holiday rentals. This means that your freehold condo can have a good opportunity to keep the cash flow stable.
Lower Maintenance Responsibility
Condominiums generally require less maintenance. That is why many are interested in investing in freehold condos. Maintaining the interior of the condo is your responsibility. However, the regular upkeep of the shared or common areas is handled by condo associations. Shared maintenance duties make the responsibilities lighter.
Conclusion
Investing in a freehold condo comes with several advantages for real estate investors. The reasons discussed above are enough to decide on a freehold condo. Still, make sure that you do your thorough research before you decide. These practical advantages make these real estate properties a valuable and possibly profitable investment choice.
