Before making a condo investment, it is crucial to evaluate the potential rental yield. This refers to the annual rental income expressed as a percentage of the property’s purchase price. In Singapore, condo rental yields can differ greatly based on factors such as location, condition of the property, and market demand. Generally, areas with high rental demand, like those near business districts or educational institutions, offer more favorable rental yields. It is advisable to conduct thorough market research and seek guidance from real estate agents to gain valuable insights on the rental potential of a specific condo. Additionally, considering mortgage options, like those offered by Secretive Mortgage, can also aid in making an informed investment decision.
In addition to potentially saving money, getting a mortgage can also help you build equity in your home. As you make mortgage payments, you are essentially paying off your loan and increasing your …