June 23, 2024

3 Benefits That Can Convince You To Rent An Apartment In Singapore

When looking for a place to live, you should first consider whether you should renew your lease, buy real estate, or rent an apartment. Many people have come to assume that living to the fullest only occurs when you buy your own place, which has caused others to feel pressured into doing so. However, there is no rule set in stone that requires you to purchase a home immediately. Renting an apartment is perfectly normal, and it shouldn’t be a situation that people look down upon. Some may think it’s a decision made by those not financially stable, but it doesn’t hurt to be someone who chooses to manage their costs. In fact, you actually gain a few benefits when you rent an apartment in Singapore instead of going for the alternative.

Less Costly

There are a lot of costs that are cut when you choose to rent an apartment. When you purchase a house, most people would need a mortgage. When applying for a mortgage, there is a high chance that you will also need to pay a down payment upfront that, unfortunately, equals a percentage of the property’s purchase price. It can run as high as 20%, enough to scare anyone new to real estate. On the other hand, a service apartment in Singapore has a price that most likely only requires you to pay for the first month’s rent upfront. It would be considerably lower in cost compared to the 20% down payment in purchasing a home. There will also be no mortgage debt to carry when renting.

Full Access To Convenient Amenities

In a serviced residence in Singapore, many amenities with great convenience are made available to those who live there. These amenities range from swimming pools to on-site laundry facilities. You wouldn’t need to worry about doing maintenance on your own swimming pool because someone else is in charge of doing that for you. Aside from this, you wouldn’t have to walk to a fitness centre near your house since there is already a gym within the apartment building. Everything is convenient, and the cost is less intimidating when you pay monthly.

Build A Sense Of Community

When you require a favour, finding someone to help you out can be challenging when the distance between your place and your neighbour’s house makes it difficult to befriend them. In an orchard serviced apartment, talking to the people across from you is easier and helps you build a sense of community among those who live right next door. If you are searching for an apartment for rent in Singapore, visit Great World Serviced Apartments today!