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What Should You Spend On A Condo

Taking into consideration the recent real estate crisis, buyers must be able to take note and not overstretch their finances when buying real estate property. The money one is supposed to spend on a condominium unit is a function of two condo price guidelines:

  • How the unit will be used
  •  How much the buyer can afford

Mortgage financing has restrictions put in place to limit Banks’ risk probability and avoid buyers getting in over their heads. The Mortgage industry has increased the amount of down payments and applied tighter restrictions concerning qualifying for a mortgage; this limits the amount, which buyers will look to get.

There are two condo price guidelines when it comes to what you should spend when buying a condominium:

  • The general rule of thumb, one can only spend 30% or less of his/her gross income on housing costs including insurance, mortgage, property tax and condominium fees. Spending less than 30% allows you to improve your living standards.
  • Spend no more than 36% of income on total monthly debt payments. This means if you have more non-mortgage debt, the less likely you can afford a mortgage. Multiply total monthly income with 36%, deduct total debt payments and this is the amount that can be spent on housing.

Buyers are to consult qualified real estate attorneys or tax specialists on real estate decisions, especially those who plan to use the property as an income producing investment, since certain expenses are tax deductible.

Cote D’Azur Luxury Condo review

The Cote D’Azur is a 99-years leasehold development property set in the picturesque southern coastline of Singapore that consists of 612 condominium units. It is located at Marine Parade Road in District 15. Completed in 2005, it scales up to 26 stories high and is in proximity with the East Coast Park, therefore offering a panoramic view of the sea.

Cote D’Azur is a development in the heart of the busy East Coast. Its units include maximized full-height windows in the living rooms and master bedrooms. At the centre of the development is a n alluring swimming pool, which comes complete with a large stimulated sand wash and pebble beach.

Features of the Cote D’Azur

The Cote D’Azur consists of four types of units:

l Studio – 915sq ft

l 2 Bedrooms – 1357 sq ft

l 3 Bedrooms – 1389 sq ft

l 4 Bedrooms – 1680 sq ft

The location of the Cote D’Azur is convenient to amenities available in the nearby towns, and the East Coast Park makes it a convenient place to live, as it is also self-contained. It is just next to Parkway Parade shopping centre, a one-stop shopping destination and the East Coast Park. A number of buses for all destinations are available nearby, with direct buses to business district through expressway, a 10-minute drive to Changi airport and a 7-minute drive to the Central Business District (CBD) using the East Coast Parkway.

The Cote D’Azur condominium has both options of either buying or renting their property. offers units of the property that are either rental or for sale on their website. gives the Cote D’Azur a 3.2 rating on their website. Other facilities found in the Cote D’Azur are:

l Wading Pool

l Jacuzzi

l Tennis


l Gymnasium

l Clubhouse

l Covered Car Park

l 24 Hours Security

Problems of the Cote D’Azur

 Despite the Cote D’Azur having numerous positives, the condominiums critics have it that they contain various flaws:

  1. Shoddy Construction


  1. a) Leaks

The contractors poorly did the construction and placing of the pipes. The pipes encasing is in the concrete walls thus no future hope of fixing or maintaining them. The water runs onto the bedroom floors and the recommended plumber cannot do anything about it, let alone the management.


  1. b) Crumbling Facades

The concrete is cracking off the facades of the Cote D’Azur. When diagnosing the problem, it appeared having hollow areas in the exterior concrete that they are now just repainting. For a building less than 10 years old, these are poor standards and it is only a matter of time before the concrete falls off the building.


  1. Run-down Facilities


Cleaning is rare in the gym and the machines are dusty. The tennis court has a cracked surface with moss growing in the cracks. Wooden decks are rotting in the facility.


  1. Unreasonable Management


The management does little when issues brought to its desk, and enforce their own rules without notifying the violator. With management like this, the place seems unpleasant for habitation.


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