Why do not buy Dual Key Condo
Dual key condo is the new concept of having 2 apartments under one roof shared by a common foyer. There has been a lot of buzz recently about dual key condo and many has raved about its attractiveness and buying dual key condo in Singapore.
However there are some factors one may be against buying dual key condo. Below are some reasons why do not buy Dual Key Condo.
- Usually dual key condo commards a higher purchase price compared to a standard unit. For instance, a standard 3 bedroom cost lesser than a 3 bedroom dual key condo which is studio + 2 bedroom.
- The extra rooms or space may be underutilised when the children have grown up.
- For those looking to buy dual key condo wanting to earn rental from the other apartment may run the risk of forking out more cash to upkeep the monthly mortgage if the other apartment is not able to rent out. These groups of homeowners will also be affected by the cycles of rental market, economic conditions and government policies on housing.
- Security may be at risk if the tenants are not desirable.
- Some do not like the idea of living so close to tenants and/or parents who are at the other apartment.
- Domestic disputes may be more prevailing if there is tension.
- As dual key condo is very unique, its attractive may only appeal to a certain group of buyers which thus will result in a smaller target group of buyers. Homeowners may have a harder time when puting it up for sale due to its uniqueness. For instances, singles or newly married couples who do not need to live with parents would not consider buying a dual key condo.
Some buyers may find dual key condo less desirable because of the above reasons.
Of course, there are attractive factors and advantage on why one should buy dual key condo.
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