Are Condos And Starter Homes Equivalent And Their Benefits

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What are condos and starter homes?

Condos, also known as condominium are apartment like flats in a building but are not exactly apartments. Apartments are not owned but are leased by the owner whereas condos give the complete ownership to the buyer and the ownership of the commonly used premises like parks, hallways, walkways, etc. is shared by all the buyers combined. Starter homes, on the other hand, are small, affordable houses, usually having 1 or 2 bedrooms.

What are the benefits of condos?

Condos are the new kind of houses which are really attracting people interested in real estate because of the following reasons-

  1. They are affordable as the cost of the land is also shared by other buyers.
  2. Unlike flats, they are not on the lease but one can have the rightful owner of the condominium and can actually own the property.
  3. Various services like an elevator, laundry room, walkway, park, etc. facilities can be enjoyed as well.
  4. The buildings are not in the outskirts but are in the main city.

Are condos equivalent to starter homes?

Condos are not equivalent to starter homes but are a much better option than that, because-

  1. Starter homes are usually in the outskirts because of the cheap price but condos are in the main city.
  2. Starter homes are usually old houses but condos are newly constructed.

Therefore, if one is planning to buy a condominium, riviere by frasers is one of the best option available to them. Riviere is located on the riverside of the Singapore River, which provides a great view and a beautiful aura. Frasers is one of the most trusted names in the real estate and are in this industry for a long time. They have always been known in the industry for the quality of their work, so a good quality house at an affordable price and that too by Frasers, should not be missed by one who is planning to buy a house.