While cooking, you realize that you are run out of spices. You switch off your stove and take a lift downward to pop in the supermarket. Within a few minutes, you are back with all your ingredients and continue making your dinner. It sounds convenient to buy everything as per your needs without spending money on the fuel.
It is quite easy to save your time and money. It is the real beauty of living in a mixed development. The mixed development like Lequest condo offers a unique proposition to a purely residential development that is easy to get food, grocery, and other items, especially when you urgently need them.
The mixed development is not a new concept because the International Plaza and Orchard Residences at Orchard Mall and Heartland projects like Centris atop Jurong Point are populary mixed events from 1976. The upcoming projects are the Hiller at Hillview and Watertown in Punggol.
The idea of mixed development is quite old to offer comfort and convenience to homeowners. If you want to live in a mixed Lequest condo, you can confidently invest in this construction. The location is incredible for everyone. You will get schools, parks, shopping malls and everything near your house.
Understand Mixed Developments
Mixed events are urban housing that combines commercial and residential spaces. Other services can be institutional, cultural and industrial trades. Mixed development may be a city block, a complex of building to make a community or a single building. Residential units and shopping mall are quite common in Singapore. The shopping malls are often located on the first floors, and the houses are constructed above shopping malls. Some mixed developments integrated hotel rooms in the building.
By increasing convenience in your life, you can get more time to increase your focus and concentration. In a country like Singapore, the global and economy population is always on the upside, and it is impossible to experience this determined way of living. With the development of mixed properties, it is possible to implement the philosophy of play, live and work.
A land-scarce country like Singapore, address this concern by creating a mixed development with residential houses and commercial places. It is not easy to offer amenities and homes at the same time. The mixed development properties enable residents to enjoy the convenience of having retail locations in the proximity of their houses. From cinemas, clothing stores, beauty salon, retail shops, pubs, restaurants, grocery store and supermarket, you can have a shopping mall with your unit.
Benefits of Living in Mixed Developments
The accessibility and convenience are not the only advantages of mixed developments like Le Quest Singapore. It is more than a shopping mall and residential unit. Some people consider this development a risk for their personal life. These properties may have some privacy issues. Regardless of some drawbacks, here are numerous benefits of mixed events.
Convenience is the ultimate advantage of the diverse development buildings. You will get everything within your reach. You can fetch your regular necessities instead of traveling far from your house. You can obtain necessary supplies to groceries or purchase a brand new shirt or shoes by going down on the building. Bringing retail stores near your home has numerous benefits, such as:
- There is no need to strain your arms while traveling with heavy grocery bags on your both hands.
- Food shops and restaurants within the construction offers a convenience access to expensive meals.
- There is no need to drive away to visit shopping malls.
- You can enjoy your favorite movie just below your house.
- You can save your money and time by finding the work in your building.
- With numerous recreational activities, there will be no dull moment in your life.
The major advantage of the mixed developments enables you to minimize your expenditures. There is no need to increase the cost of your fuel. It will decrease the need for your travel and lets you save a good amount of money. There is no reason to pay parking fees or pay for public transport to buy frozen meats or chips. You will get everything right below your house. Less travel will gradually decrease your spending.
Increase Chances of Passive Income
The properties near MRT stations always get high rental income, but it is not always true. By having a mall under your unit enables you to get high rental income. The mixed developments are desirable for tenants because of accessibility and convenience. Residents are ready to pay for the diverse properties to get everything under one roof. Moreover, there are employees and office space in the development. It likens to a limitless supply of the possible tenants.
Increase the Value of Location
People often think that mixed developments are only for wealthy people. The high price of the property is the main reason because low-income people of Singapore can’t afford this property. It goes to some extent, and this perception plays an important role to increase the core value of the location or district. With rich people congregating the area, it considerably intensifies the reputation of a zone. The interest of wealthy spenders in a zone can significantly increase the value of this location.
The mixed development in Singapore offers flexibility to investors as per his/her desire. If you want to sell your unit, you can list it on the open market. Always remember that a well-designed mixed development in a great location like Lequest condo can grab maximum potential buyers. Moreover, you can sell your unit to foreigners who are attracted toward the convenience of city life. On the other side, if you are not interested in the sale of your property, you can rent it out to get a valuable income stream.
Limitations of Mixed Development
Behind numerous benefits of mixed Singaporean development, there are some disadvantages that you should consider. Along with incredible benefits, consider the drawbacks of mixed property:
- High-density living and overcrowding
- Business noise from restaurants, pubs, and shops
- Privacy issues because people will loiter around your house
- Expensive than regular Le Quest condo
- Parking shortage because the shoppers get priority
People have mixed reviews about this development because of a number of individuals like comfort and convenience; not everyone gives a thumbs-up to this idea. Some people have a different opinion about this building.
They think that it can be convenient to have a mall under your house, but at the same time, you will feel insecure that strangers are walking around your house. They don’t like their children to always loiter around shops after their school. Like any other development, every construction has its positive and negative points that will be discussed later.
Investors of the residential units often attracted to the capital yield and potential rental. The amenities around your condo, such as outlets for food and beverage and supermarket can make it easy for you to stay away from the kitchen for at least one day in a week. The fashion stores, beauty salons, parks, and other commercial places are really attractive to tenants as compared to regular apartments. Some people like to invest in retail stores and business units in the mixed-development projects are easy to lease out at almost five times extra per-square-foot-price of the local units.
Other than the mixed retail-residential developments, the investors try to avoid the 7% additional stamp duty of buyers for their 2nd residential property and 10% for their third and other residential properties. Wealthy people often buy condos like the Lequest condo and hire rentals in their property to earn money. Carefully evaluate the location and the layout of your condo before making the investment.
Having eateries, shops, supermarkets, and other facilities near your home can save you from various troubles. There is no need to pulling grocery bags everywhere with you. If you get unexpected guests, you can quickly grab groceries from the market, or even get ready-to-eat food. These buildings are beautiful for tenants.
By living in a mixed development, you can save your transportation cost because shopping malls are located within walking distance. In this way, you can reduce your public transport, parking and fuel costs. While living in mixed development, you should expect more noise and lack of privacy on some particular occasions.
In a full country like Singapore, mixed development is critical. The economy is growing at a faster speed, and people are visiting this country from different parts of the world. The mixed properties like Lequest condo are in high demand. Before purchasing a mixed development condo, you should focus on its drawbacks along with its benefits. It can be really convenient and easy to access for everyone. Before purchasing a mixed property, you should physically visit condos to check their size and amenities.
Know about the developer and investigate his work history. You can visit his old constructions and meet with their residents. It will give you an idea to know the views of people living in these condos.