Avoid Low Floor or No Views? | 1 or 2 Bedroom | Condo Tips

Описание: Avoid Low Floor or No Views? | 1 or 2 Bedroom | Condo Tips
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⏱️TIME CODES⏱️
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0:00 Intro
0:27 Avoid Low Floors?
5:07 1BR or 2BR Better?
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📌Q5. Should I avoid low floors and units with no nice views?
At show flats, I frequently encounter buyers who do not want units on the low floors. They usually like units with nice views.

Typically, when you are on a higher floor, you will likely have a nicer view. However, there are other factors to consider. For example, the price. If you are an investor, it will always make sense to enter at a lower price point when buying.

When prices are not much different, I would naturally go for the higher floors. When the consideration is economic, the same age-old question pops up, are you buying for your own stay or are you buying property for investment?

From an investment point of view, you may not get better rental yield just because the unit is on a higher floor or has a better view. Tenants are not willing to pay more just for these reasons as most are very price sensitive. It is fine to go for low floors and units with no views if you are buying with the purpose of investment and looking to rent out your unit.

The reasons why people avoid low floor units in HDBs, for example, is that funerals are being held at void decks or that the units are near the rubbish chutes. These reasons are valid. However, in a condo, it is unlikely to run into such problems. When these HDB upgraders cross over to a condo, it is inevitable that some of them bring this similar mindset with them and shun low floor units.

Then, there are some who do not favour the pool view because of the noise it brings, especially during weekends. They may want views with greenery or even none at all if their preference is peace and quiet.

If you are buying for your own stay, grab whatever you like. When buying for investment and if there is a budget constraint, go for the low floor units with no views because these will usually be the ‘starbuy’ units in the new lauches, which are at a discounted price. You will have the price advantage next time when you selling your property.

📌Q6. 1 bed vs 2 bedroom

The 1 bedroom quantum is attractive to investors because of its low quantum. 2 bedrooms unit are great for both own occupation as well as investment as the buyer profiles can be either small families or investors who are looking to rent to tenants after purchasing.

This is also the geographical factor. For example, Farrer Road, which is very popular with European expatriates. This group of tenants favour bigger size condos (e.g. 3-4 bedrooms) in general. If you were to invest in a small unit in this area, hoping to look for a good tenant, you may be disappointed as these potential tenants tend to gravitate towards bigger units.

On the other hand, tenants in Rangoon Road & Farrer Park MRT area, who are mostly singles or couples with no kids, will prefer 1-2 bedrooms

When buying near international schools like Australian International School or Stamford American School, you can rest assured that bigger units (e.g. 4 or 5 bedrooms) are very popular and are easily rented out. This is the same for most areas near most international schools.

When we look at the 2 bedders, we must also differentiate between the 2 beds 1 bath and the 2 beds 2 baths. 2 beds 1 bath is a new layout that has started appearing in the last 5 years.

Which one should I buy? The Test question is: Are you buying for own occupation or for investment?

If you are buying for your own stay and if you have more than 2 people residing there, then go for 2 beds 2 baths as you do not want to be vying for the use of the bathroom in the morning when one is going to work and the other preparing for school.

When buying for investment, the 2 beds 1 bath would make more sense because you would save about $100k on the toilet. That would mean a lower entry price. However, if there are no budget constraints, then 2 beds 2 baths would be good as they may be easier to sell in future.

The government is aiming for a 6.5 to 6.9 million population by 2030. With the population now at 5.5 million, what do you think would happen to the property prices if there is an increase to 6.5 million? Would the prices increase or decrease?

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Disclaimer:
All information & opinions provided in the video are for educational purposes only. It is not intended to be any form of investment advice. Dennis Lim is a certified real estate salesperson with ERA (CEA Licence No. R055990G/ L3002382K)