Home Real Estate 4 Mistakes when Buying a Condominium in a New Complex

4 Mistakes when Buying a Condominium in a New Complex

by Mary Hahn


In order not to get into the sad story of buying an apartment in a new building, it is better to know all the pitfalls in advance and learn from other people’s mistakes.

Mistake # 1. Hurry

If you are buying a condominium in which your family will live for many years after the transaction, you should not rush. No fuss and ill-considered decisions.

When it comes to high-value purchases, you can’t make emotional decisions.

Even if you are sure that you want to live in this new building and in this particular area, you should still consider other options – compare prices, layouts, infrastructure and conditions of banks for a mortgage in a new building. Find out more about the residential complex – the material and thickness of the walls, the date of completion of the object and the cost of utilities.Amber Sea launch date is mentioned on the website along with all other details and features.

Don’t panic! If the developer’s manager claims that tomorrow this apartment will rise in price and you urgently need to agree, remember that it is beneficial for him to conclude a deal with you as soon as possible.

Mistake # 2. Trust and not verify

If you do not check the reputation of the developer, you can get bankrupt, a one-day company or a long-term construction. Always check the reputation and financial reliability of developer before making any purchase.

Go to a construction site, and check the progress of construction and objects that have already been commissioned. Far East Organization is one of the most famous real estate corporations with branches throughout Asia. The company has covered almost 780 projects till now.

Mistake # 3. Chasing a low price

Even if you are on a budget, take a close look at the characteristics of your chosen home. In addition to the price per square meter, there are several other important parameters for comparing new buildings: the number of apartments per floor, wall thickness, security and crime rate in the area, infrastructure, parking, etc. The price depends on this.

The better the characteristics, the more expensive the apartment is and the more comfortable it will be to live in it.

For example, if there are more than 15 apartments on a floor, the price per square meter will be slightly lower. But your home will be like a dormitory: noise, elevator queues, renting out apartments and constantly changing tenants.

Mistake # 4. Believe the promises of the developer

“Schools, kindergartens and clinics …” – promised the area for a comfortable family life. But in fact it turned out that the school will be built only in 10 years, and now the nearest one is 10 km away.

Many developers promise that they will develop social infrastructure – they will build a school, a kindergarten and a clinic, and banks, supermarkets, pharmacies and fitness clubs on the first floor of the residential complex.

Amber Sea residential complex is nestled in 30 Amber Gardens which already has reputed schools, kindergartens, hospitals, malls, shopping centres, restaurants, MRT station, and supermarkets within a range of 2 kilometres. Know more about the Amber Sea launch date by visiting website.