Good discussion here.
To those who plan to buy a property with strata title (whether condo or landed strata), think twice if you feel you cannot cope with maintenance fee that will increase from time to time. Otherwise, you see people bashing at you for not being able to pay the maintenance fee, like some of them here.
That is my point. Becareful in chosing property with strata. Read Strata Title Act first! The developer can sue you in court. You can be fined or even jailed. On top of that, they can sell your car or tv or fridge or other moveable properties to recover the outstanding payment.
Remember. Maintenance are due monthly even after you finished paying the loan. And even when you are dying. There is no waiver under Strata Title Act.
This maintenance fee is not set by you. It is set by the Joint Management Committee in which the developer is a member. You may say the amount is high, but they may say the amount is reasonable. In the end, you have to listen to them and pay the amount. So, before you buy, think carefully. Like some people here say, if you think you cannot cope with it, choose a property with an individual title.
Best of luck in finding your home sweet home!
You mean Strata Title act - all the house owners cannot vote to reduce price of maintenance fee or evict Committee in charge? so imba one? At the end of the day, people buy house to stay in it and to invest. Who would buy house to lose money one....
anyhow, your advise is good. If cannot upkeep maintenance dont think about GG ect ect ect. Stay in Singapore HDB safe and cheap.