As of 2023, new launches averaging $2,000 psf have priced out a great many home buyers; even HDB upgraders.
We have heard of cases where because of the SSD and renovation costs, the en-bloc proceeds were just marginally enough to cover — which isn't worth the trouble and stress of having to look for another home. Also, if it gets to the point where management is finally forced to get new lifts after a long time, it may cause the maintenance fee to spike.This is to see which parts of the trip are exposed. Just like what we wrote in the regrets from buyers of older condos, these sometimes don't have underground car parks; and there may not be sheltered walkways leading to the car park either.
Also, check for the playground surface — older condos may not have the same rubbery material you'll find in newer condos, or the surface may not have been cleaned in a long time.Most older condos have enclosed kitchens, so keep in mind you'll probably need to hack a wall if you want a newer, open-kitchen concept.
Your contractor may have to go into your neighbour's unit, for example, to rectify the leak — and condo management may be less than helpful in arranging matters.In older properties, you may find the water pressure is unusually weak when you flush, or that it takes a long time before you can flush again. This could be indicative of leaks or problems with the plumbing, which you may not see right away.
Some condos have taken the liberty to place a gym or table tennis table instead, which makes the space more usable to a wider group of people. We did once run into a project where the air-conditioner at the gym often leaked and had to be switched off; and this can't have been pleasant for the users.If most of the residents are tenants, for example, this makes the older condo much more prone to an en-bloc sale. As the owners aren't living in the actual units, they're probably more interested in selling .