When hunting for a property to buy, the main question to ask yourself is always: “How much can I afford?”
To make your property suitable for habitation, you will need certain basic utilities and services, such as:To open your account with each of these service providers, there will generally be forms to fill, a deposit required, and payment needed for miscellaneous fees to cover installation, administrative processing, and stamp duty.As a homeowner, you are legally required to pay tax on your property every year. Here are the property taxes you need to be aware of.
are collected by local councils to be used in developing and maintaining local area infrastructure and services. Think of the nice public parks and garbage collection services in your area.For many people, a property is one of the biggest assets that one can hold. As such, it makes sense to take out some form of insurance policy as recovery protection against any unforeseen circumstances.5.
The sinking fund is a larger sum of money for large and sudden expenses, such as should the elevator suffer a breakdown and need replacing.Speak to your JMB to find out what is the expected sum you should pay if you are a homeowner.Regardless of the condition of the property you intend to purchase, you need to consider both the immediate costs for personalising it to your liking and its maintenance.
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