Top Factors To Consider Before Investing In A Mixed Development Property
Mixed development properties are attractive investments to most real estate investors because of the multi-purpose nature of these buildings. A mixed development property caters to a variety of needs and is capable of integrating residential, commercial, and industrial spaces. Because of this, mixed-use buildings are quickly becoming the standard for both business and residential interests in Singapore.
Mixed-use development properties in Singapore indeed offer numerous advantages for its occupants. However, a number of things must be considered before investing in such properties:
1 – Accessibility
Is the property accessible to most of your daily needs or business requirements?
Mixed developments lodge a diverse range of stores and service centers that cater to a variety of needs. This is a major advantage, however, it would make sense to first organize your priorities and choose a unit that is within the closest possible proximity to your specific needs.
For example, those who are planning to purchase a unit for residential purposes should consider the availability of nearby retail stores, groceries, and healthcare facilities. On the other hand, business owners looking for office spaces in a mixed development property should be consider where most employees reside, as well as the practicality of housing an office in that particular property.
2 – Financial Capacity
Is your current financial status stable enough to cover all probable expenses?
Investing in any type of property is a long-term financial commitment. With this in mind, the state of your current cashflow is a crucial factor in making any kind of property-related transactions. Because mixed development properties offer extreme convenience and accessibility, there is usually an added premium to the cost. This is why it is the responsibility of every investor to gauge the possible financial gains of any real estate purchase, considering both the initial and recurring costs of the investment.
3 – Lifestyle
Are your lifestyle preferences in line with the busy nature of mixed developments?
A mixed development complex usually has a dense population, often leaving the premises in constant buzz. These properties house a fair mix of busy establishments and busy people, and the building will almost always be teeming with people who work in a fast-paced environment. Onlookers that visit the variety of leisure spots in the building are also likely to make frequent appearances in the area.
While this isn’t an issue to some residents (some even consider this an advantage rather than a disadvantage), others are simply not used to this kind of lifestyle. So before investing in a mixed development property, honestly define your lifestyle preferences and assess whether a mixed development will provide you comfort without compromise.
NEWest is a new property development at 3 West Coast Drive in District 5. It offers a combination of residential and commercial units. Expected TOP is on 2017.