With the huge variety of New Designs and Styles available on the market now you have a lot more to choose from than ever before. New designs are coming out so often you must be prepared for this, it is like a stampede of modern styles into the market. You will have to be open minded to all these new designs and styles. It is amazing the different shapes and sizes that come out of the manufacturing line each day. You just need to keep your eyes open.
When it comes to New Designs, there are so many shapes that are being designed each day. You can choose between New Condo Buildings and New House Forms depending on what you want. With the new house forms you will have the choice of New Garden Homes or even New Roofs. They all give you the option of choosing a totally new look for your home. The newest leasehold condo will be Midwood Condo right at Hillview Avenue.
You will also find that with the freehold condominium option, you get more flexibility with the size and shape of the building. This is great because you can design and plan it exactly how you want it. Of course you still need to live in it to enjoy it fully. But there is definitely more room to play with. It has become more of a freedom than a need. The developer is Hong Leong Holdings.
Freehold Vs Leasehold Condominiums Comparison
There are also many more choices for the landscaping and outdoor areas near to Midwood. You can really make a difference by incorporating a new design and look. You may be able to increase the value of the New Design Condos by up to 30% of the selling price if you use it correctly.
You can increase the value even more if you make some design changes near to Hillview Avenue. For instance you can get the freehold over some ground that is not zoned for buildings. Or you can have part of the unit zoned for you so that you can build on the land.
In this case you do not have to get planning permission or planning approval. The freehold is also only half of the whole property. The rest of the building (such as shops and other services) will still need planning permission. Of course, if you build very little the freehold will not be enough. You will have to have something extra either on top of the freehold or below it to create space.
This can take a lot of time, but it can also be worthwhile when you see the overall effect of the improvements. The property owner often pays the deposit and all maintenance fees when they first buy the property but you can often buy the freehold at a discount price. Plus the leasehold option gives you the chance to increase the value of your freehold and build up some equity. Of course the equity should only be used for improving the property and not for paying off any debts that you may owe.
There is one main advantage of freehold condominiums compared to leasehold condominiums such as Midwood. With leasehold you are locked into the contract for a specified period of time, whereas with freehold you can often extend the contract or even get out early. With freehold you do not have to pay for any possible repairs that may arise and you do not have to worry about maintenance fees. If you are going to go this path then you should consider carefully how much you will actually be able to live on before you consider a change of plans.
Advantage of Leasehold Condominiums Such as Midwood Condo
The other major difference between the two is the amount of money you will have to pay towards your freehold purchase compared to Midwood Condo. In most cases the amount of money you will have to pay towards your freehold purchase is around half the market value of the property. This is because the freehold is simply the difference between the current market price of the property and the amount you paid towards the freehold purchase. In other words, if you paid 100 pounds for the freehold you would still have to pay around 50 pounds in maintenance fees and other expenses. This can add up quickly so if you are planning on living in the property for a while you may want to consider investing in a leasehold home rather than freehold.
Another big difference between freehold condominiums and leasehold condominiums is the amount of risk associated with the investment. In a freehold purchase there is very little risk because the developer is the owner and will always own the freehold. If something were to happen with the property the developer will take care of it. However, in a leasehold condominium you are renting the property, which means there is a greater chance that the property will be ruined or have other problems. If you are willing to take this risk then a leasehold home can be a great way to save money.
As you can see there are many differences between freehold and leasehold condominiums and when you weigh the pros and cons of each you will be able to make an informed decision about the type of home you want to live in. You can also choose to invest in one of these home by taking out a mortgage and using the equity to pay for the home. Whichever way you decide to go, you will surely be happy with either option.