The characteristics of a condominium apartment

In residential buildings with condominium ownership (condominiums), the owner of an apartment has an exclusive right that allows him to make changes in his home without having to request the consent of the other condominium owners, provided that the structure is not damaged masonry of the building. For the common parts of the property, in fact, the various floor owners must agree. Careful administration ensures a peaceful coexistence.

Finally a home of your own, finally being able to furnish and organize it as you wish, finally living as you wish. According to surveys conducted in Switzerland, buying a home continues to be a priority for many. An apartment is often the preferred option: it costs less than a detached house, is often more adequate in terms of floor space and location, and easier to maintain - just to name a few advantages.

There are numerous choices when it comes to Singapore condos. It's easy to get lost in the details when trying to make a decision. Rapid urbanization has led to a rise in condo demand to satisfy the demand for housing. Condos are a great option for those who are first time home buyers or young people who cannot afford a house. When you're searching for the Tanah Merah Kechil condo to purchase and live in or lease, there are some things you need to take into consideration.

From a legal point of view, this form of joint ownership has only existed since 1965. Today there are over a million condominium homes in Switzerland, and the number is growing every day. It is not immediately clear to everyone that, with the purchase, they become co-owners of a property, with the exclusive right to their own apartment. This means having to agree with the other owners for plans, which may have completely different interests. But what falls within the exclusive right of one's own apartment, and what in the common property on which the majority of the condominium must decide?

Common or exclusive?

The land (or surface right) on which the building is built is part of the common property. The common property also includes all the parts necessary for the stability, structure and solidity of the building and which determine the external shape and appearance of the building: for example the masonry works, the foundations and load-bearing walls, the roof and the facade, all the systems and devices that are used for the use of individual apartments or for common use. This applies, inter alia, to the stairs, external corridors, entrances, the lift, the underground garage, the bike room, the laundry room, the common areas for hobbies, etc., the fireplaces, the central heating, the hot water production plant and main pipelines. The garden and terraces are also part of it,

On the other hand, condominium owners can use their exclusive right for all rooms that can be locked and have their own access, as well as for other rooms even outside the apartment, such as the cellar. In particular, all non-load-bearing walls, floor, ceiling and wall cladding in one's own housing units, doors including the entrance door, built-in wardrobes, fireplaces, radiators and boilers, fall within the exclusive right. the kitchen and bathrooms with related furnishings, the pipes starting from the derivation from the main building pipeline. Windows, shutters, curtains, the external facade of balconies and outdoor seating are special cases since, according to the most recent jurisprudence, they do fall under the exclusive right,

Ancillary expenses and renewal fund

The individual owner is responsible for all aspects that fall under the exclusive right. For the common parts, each owner bears the expenses based on his own share, unless another distribution criterion has been established. The various condominium owners must agree not only on the breakdown of ancillary costs, but also on the current payments for the renewal fund and the necessary interventions in the common areas. While the necessary and useful interventions require the consent of the majority of the condominium, for unnecessary works aimed at enhancing the property, a unanimous decision is required (or exemption from expenses for owners for opposing plans).

Before a common part can be restructured, it is necessary that there is a resolution of the condominium. Since the renewal fund is often not sufficiently rich, one-off contributions are required for the most important interventions. Many regulations stipulate that condominium owners must pay 0.2% per year of the insured value of the building into the fund, up to 3% of this value. Very little, say the researchers of the University of Lucerne, who have developed a toolbox, or a series of tools for condominium renovations (see link). They recommend paying at least 1%; Alfred Müller SA recommends that the condominiums he manages pay between 0.5% and 0.75%. Then there are the reserves for their own apartment, each owner is responsible for the maintenance.

So let's talk about costs, know-how and rational decisions: what expenses can arise? What are the fees to be paid by each one? Particularly for joint projects, such as major renovations (repair of the roof, the main pipes or the facade), discussions in the assembly often end without results or between quarrels. Good relations and careful management of the administration help to avoid such conflicts.

If you are looking for one to call home, prioritize the proximity to the facilities you frequently require. It should also be close to your place of work. It is also important to consider the security and convenience of the location when you are considering purchasing Singapore condos. It is crucial to consider the area. If you need to buy apartment in Singapore Then you must go to checkout Tanah Merah residence floor plan.