Your search results

Top 5 : Regret Buying An Old Condo in Singapore

Posted by Jayson Ang on February 25, 2025

| 0

In the bustling city-state of Singapore, the real estate market is a dynamic and ever-evolving landscape. As of 2023, new property launches have been averaging $2,000 per square foot, pricing out many potential home buyers, including those looking to upgrade from Housing Development Board (HDB) flats. Consequently, older resale condominiums have become an attractive alternative due to their larger floor plates and expansive grounds. However, purchasing an older condo comes with its own set of challenges and potential regrets.

Here are the top five regrets that buyers may face when investing in an old condo in Singapore.

1. En-Bloc Attempts:

One of the most significant concerns when buying an older condo is the risk of en-bloc attempts. The nightmare scenario for many buyers is having their newly purchased and renovated condo go en-bloc, forcing them to relocate. If the last en-bloc attempt was nearly successful, it might be wise to consider other options.

2. Maintenance Issues:

Older condos often come with maintenance issues, such as leaks from units above, weak water pressure, or choked pipes. These problems can be difficult to fix, especially if they stem from ageing infrastructure affecting the entire project.

3. Inefficient Layouts:

Older condos often feature layouts that may not be as efficient as newer ones. For instance, they may include more corridors or hallways, and the actual living space can sometimes be less than a unit with higher square footage due to space being taken up by balconies, planter boxes, or hallways.

4. Lack of Modern Amenities:

While older condos may offer unique amenities like golf driving ranges, they may also lack modern facilities that newer condos provide. Additionally, some facilities may be permanently shut down, like saunas or squash courts, which can add to maintenance fees without providing any benefits to residents.

5. Challenges with Renovations:

If the last renovations were done more than ten years ago, buyers should be prepared to spend more on updating the unit. This could involve hacking away existing renovations, replacing old power sockets, fixing sagging doors, and more.

While older condos in Singapore offer certain advantages like larger living spaces and potentially lower prices, they also come with their own set of challenges. Prospective buyers should carefully consider these potential regrets before making a purchase decision. It’s crucial to conduct thorough research, inspect the property meticulously, and understand the long-term prospects of the development. After all, a home is not just a financial investment but also a place where memories are made and lives are lived.

If you would like to arrange a viewing appointment with us in Singapore, do send us a DM here

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …

All Buying Tips Opinion

Discover Affordable Executive Condos in 2024 Starting at $560,000

Jayson Ang – October 23, 2024 –

TLDR The Executive Condos (ECs) offer affordable options compared to private properties in Singapore. Despite price variations, most ECs remain...

All Opinion Selling Tips

Why Selling Your Own HDB Flat May Be More Challenging Than You Anticipate: 7 Hidden Challenges to Prepare For

Jayson Ang – January 29, 2025 –

TLDR Selling your flat can be a daunting task, not because of the paperwork but due to challenges in marketing...

All Buying Tips Selling Tips

Should You Purchase a Small Landed Home or a Larger Condo? Insights from Singaporeans

Jayson Ang – August 5, 2024 –

TLDR When deciding between a compact landed house and a spacious condominium, consider key factors like security, parking, maintenance costs,...

All Buying Tips

Your Key to a Happy Retirement in Your HDB? Let’s Unveil The Mystery Behind the Lease Buyback Scheme!

Jayson Ang – March 30, 2024 –

TLDR The Lease Buyback Scheme (LBS) is gaining traction among older Singaporeans looking to boost their retirement income by selling...

Mandarin Top 5

Top 5 Singaporean Dishes to Try

Jayson Ang – July 30, 2024 –

Singapore, a melting pot of diverse cultures and flavors, is known for its rich culinary heritage. With influences from Chinese,...

All Buying Tips Opinion

I Bought a Mega-Home : Hear 7 Homeowners Spill their Heartfelt Remorse

Jayson Ang – December 22, 2023 –

TLDR The article discusses various challenges faced by residents living in massive condo complexes in Singapore. From long elevator wait...

Buying Tips Mandarin Top 5

Singapore Luxury Property: 5 Reasons to Add it to Your Trophy Collection

Jayson Ang – July 4, 2023 –

Singapore Luxury Property: 5 Reasons to Add it to Your Trophy Collection When it comes to luxury property investments, Singapore...

All Blog Posts Opinion

Discover 7 Reasons to Sell and Right-Size Your Property

Jayson Ang – April 9, 2023 –

TLDR The increasing trend of right-sizing properties in Singapore is driven by various factors such as lifestyle changes, financial gains,...

All Opinion

Why Can’t Everyone Have Homes In Good Locations?

Jayson Ang – March 9, 2024 –

TLDR In a nutshell, the Singapore property market is undergoing significant changes, with the introduction of a new housing classification...

Mandarin Top 5

5 Proven Strategies for Increasing the Value of Your Singapore Property

Jayson Ang – February 27, 2024 –

In Singapore's competitive real estate market, adding value to your property can be the key to making a profitable investment....

Mandarin Top 5

Top 5 Reasons : Why Investing in Singapore’s Property Market Is a Smart Move for Millennials – Expert Analysis!

Jayson Ang – October 13, 2024 –

In recent years, Singapore has emerged as a global financial hub and a prime destination for property investments. The city-state's...

Mandarin Top 5

Experience The Best Of Southeast Asia: 5 Must-See Destinations After Singapore

Jayson Ang – February 22, 2024 –

Singapore is a great starting point for travelers looking to explore the region. From Singapore, there are many great destinations...

All Buying Tips Opinion Selling Tips

Market Mistakes in Property Investment: Key Lessons and Strategies for Success

Jayson Ang – July 16, 2024 –

TLDR In property investment, common mistakes include lack of research, overleveraging, and neglecting due diligence. To succeed, conduct thorough market...

All Blog Posts Opinion Selling Tips

6 Reasons to Think Twice Before Hiring a Friend or Family Member as Your Agent

Jayson Ang – October 31, 2024 –

TLDR In Singapore, hiring a friend or family member as your property agent can be risky. Disclosing sensitive financial details...

All Blog Posts Buying Tips

Learn How To Negotiate For The Best Price When Purchasing a Resale HDB Flat

Jayson Ang – February 17, 2023 –

Navigating the complexities of purchasing a resale HDB flat requires honing negotiation skills and market awareness. Understanding property valuations, seller...