\nHere\u2019s a simple guide to home-buying in Singapore<\/p>\n
There are many things to consider when house-hunting, but what are some of the most important factors to assess? We at PropertyGuru did our research, and now present you with the top three tips homebuyers should heed.
Here\u2019s a simple guide to home-buying in Singapore There are many things to consider when...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-16376","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-4g8","jetpack-related-posts":[{"id":142647,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/4-condo-purchase-mistakes-to-avoid-tips-for-homebuyers\/","url_meta":{"origin":16376,"position":0},"title":"4 Condo Purchase Mistakes to Avoid: Tips for Homebuyers","date":"February 16, 2024","format":false,"excerpt":"\r 4 Condo Purchase Mistakes to Avoid: Tips for HomebuyersPurchasing a condominium can be a rewarding venture. However, before you dive in, it\u2019s important to know common purchasing mistakes that can turn your dream home into a headache. We will equip you with expert tips and unveil award-winning properties from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2024\/02\/cover-lentor-modern-condo-singapore1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":104787,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/single-woman-looking-for-a-home-the-struggle-is-real\/","url_meta":{"origin":16376,"position":1},"title":"Single woman looking for a home: The struggle is real","date":"March 8, 2019","format":false,"excerpt":"\r We examine some of the housing issues facing single women in Singapore and offer some helpful tips. The world is celebrating International Women\u2019s Day today (8 Mar) with many events taking place to commemorate the special role women play in our society. Despite this, many of them, especially single\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23999,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tips-for-buying-malaysian-property\/","url_meta":{"origin":16376,"position":2},"title":"Tips for buying Malaysian property","date":"August 26, 2016","format":false,"excerpt":"\r For many foreigners, especially Singaporeans, Malaysian property is an affordable alternative to what they can normally buy back home. Here\u2019s what to look out for if you intend to buy property there. 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On top of that, they receive less support from the state, especially when it\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100881,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gardening-tips-plant-bareroot-roses\/","url_meta":{"origin":16376,"position":4},"title":"Gardening tips: plant bareroot roses","date":"November 3, 2018","format":false,"excerpt":"\r Plus rake up leaves for a rich supply of leaf mould or visit a Humphry Repton exhibitionPlant this Bareroot rose planting season starts this month: single blooms are so much better for pollinators, so consider planting \u2018Tottering By Gently\u2019 a buttery yellow single shrub rose, or the blood red\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122668,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgage-borrowers-should-seek-professional-advice-before-making-a-purchase-decision\/","url_meta":{"origin":16376,"position":5},"title":"Mortgage borrowers should seek professional advice before making a purchase decision","date":"October 19, 2021","format":false,"excerpt":"\r Prospective purchasers are reminded to carefully consider their own financial situation before making a property purchase decision. In most situations, whether a property transaction can be completed depends on the amount of mortgage loan that could be obtained.Prospective purchasers should bear in mind that there are numerous factors affecting\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/16376"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=16376"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/16376\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=16376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=16376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=16376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n1\u2013Avoid the limits
\nWhatever your marital status and overall budget, you must first determine how much you can borrow to finance your purchase. There are a number of online calculators you can use, such as PropertyGuru\u2019s affordability calculator, to get a good idea of what kind of house you can afford and therefore, the size of the loan for which you are eligible.
\nApart from this, of course, you are strongly advised to speak to a mortgage officer at either the HDB or your bank, depending on the type of property you want to buy and from whom you prefer to take a loan. Better yet, if you can afford it, hire a personal financial advisor. But above all, bear in mind that you should never borrow to your loan limit. Some breathing room is necessary in case of unforeseen circumstances that incur additional costs.
\nMore: Things to consider when renovating your home
\n2\u2013Future-proof, not just fashionable
\nWhile you may be able to afford that chic two-bedroom apartment with a balcony overlooking the city or the sea, do consider the practicality of such a purchase. If, for instance, you are looking to sell the property after a number of years, you must take into account its potential capital appreciation. One way to do so is to look at the master plan for the area in which the property is located: if there are major developments in the vicinity, chances are that your home will increase significantly in value.
\nIf, on the other hand, you are planning to have children, such a home may not be the best choice, especially in terms of space. Instead, you might want to get a four- to five-room HDB resale flat, or at least a BTO flat. Many Singaporean parents also make it a priority to buy homes near the schools in which they want to enrol their children.
\nMore: Singapore\u2019s resale condo prices on the upward trend
\n3\u2013Different as night and day
\nYour potential home may have looked great and felt like the right choice when you visited with your agent at 2pm last Sunday, but the same may not hold true at 8pm on a weekday. Since you will be living there for a few years at least, make sure to visit the home(s) you are interested in on different occasions: weekends and weekdays, daytime and nighttime.
\nThis will give you a feel of what life will be like in your home of choice and its immediate environment. Be it the weather, neighbourhood, or ambience, visiting at different times on different days will help you determine all these factors.
\nThis article was first published in the print version of\u00a0PropertyGuru News & Views. The online version appeared on PropertyGuru.com.sg.
\n
\nSource : property-report.com
\nRead more…Top 3 tips to consider when making a home purchase<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"