In today’s world everyone wants a property that is cheap and at the same time colossal and here the property is referred in the relevance to real estate. Firstly, one must need to know what property means. In this context property is defined as a piece of land which is owned by an individual or a group of individuals. The owner of the property have all the right to alter, mortgage, redefine, sell, consume, exchange, share or even destroy it.
Landed property is termed for a property where the land on which the building is manufactured also belongs to the owner. So the title of the land with the buildings that are manufactured on it are totally a property of the owner. Detached houses, semidetached houses and Terraced houses are the example of landed property in Singapore.
On the other hand, non-landed property is the property where the different units of the property are owned by different individuals and where the property is strata titled which means the owners have the land in common. Condominium and HDB are the various examples of the non-landed property.
Why the landed property?
Landed property is always preferred for the independency of the property by the owner. For this property the land and the buildings on the land are totally owned by the owner of the property and there is no interference from another party. This type of the property is termed as freehold property where there is not a lease period for a short term of years. And the owner is the sole owner of the property and the owner is independent to do anything he/she pleases with their property.
The landed property is a safe option because there is always a security and there is not a worry about the lease but for the non-landed property there always a worry about the lease hold expiration. And if the property is a lease hold property there is not a surety that the lease for the property will be renewed by the government after the tenure is over which a risky choice for the owner of the property.
The following traits a landed property for sale Singapore should comprise:
There are enormous landed property for sale Singapore in the market from where the customer can choose. There are numerous websites online from where the customers can unravel the world of estate and there are various property selling intermediates known to be as “brokers” which acts as an intermediate between the customer and the party. But the following traits that a landed property should comprise are:
- Reasonably Priced: The cost of the property is the most influential factor that determines the purchase of the property. If the price of the property is too high and unreasonable it is never preferred by the customer. So the landed property should be reasonably cheap so that the customers can avail the property easily and happily. The property according to its specifications and the surroundings should have a reasonable price.
- Well situated: The landed property should be well situated so it can attract customers. The landed property for sale Singapore should be situated around a healthy and hygienic atmosphere. Where the landed property is situated, plays a major role for the purchasing of the property as no would want a property that is situated in an unhealthy environment or is situated in an excluded place. The property should be situated at a place around which there are various services providing human facilities such as market, shopping complex and a various places for recreational activities. So the property should be well situated to provide all the basic facilities required by the customers.
- Architecture and design: The landed property for sale should have an exquisite interior and exterior architecture. The property should be well specified and the design should be remarkable. The property should be well constructed to avoid wearing and tearing of the property and it should be a well-furnished and perfectly oriented. The property for sale should provide another necessities should as water, electricity and gas connections so that the customer would not have to avail these services externally by another service providers.
- Lease: The landed property in Singapore are of the freehold lease type in which the owner of the property is also the owner of the land. So the landed property is a freehold lease property and this property is considered as an safe option because unlike the lease hold property the owner of the this property have all the right to alter, mortgage, redefine, sell, consume, exchange, share or even destroy it. And the owner does not have to worry about the lease that much, as it the case for the non-landed property where the property goes back to the state after the tenure is over and the lease is required to be renewed to avail back the property. The landed property is 10 to 15% more costly than the other but there is a sense of relief and the property can be further passed on to the next generations.
Investing or purchasing a property is an imperative decision of life because a person invests a major part of his/her entire life income when indulging in real estate. When purchasing landed property for sale Singapore one must be very careful and must not take decisions hastily and should give a thought after a deep contemplation. The estate business is a very risky and dynamic business, so before buying or investing in a property deep analysis should be done to ensure the liability of the estate to prevent any mishaps in future.
There is a quite a debate about the leasehold and freehold property and to be honest both of them have their pros and cons. So the decision is totally dependent on the customer needs and situation at the hand. So before purchasing a property the customer should be totally contented with the property and should carefully scrutinize the legal matters related to the property. Well, the selection of the property is totally dependent upon the customers’ needs and demands.