Finding a perfect home in Singapore can prove to be a challenge. First, there’s limited physical land space. Then, you’ll have to contend with other property buyers. If you’re not regularly checking Singapore property news, then you could be left out on great housing opportunities.
Selecting the right type of property in the right location is important because it’s a big investment. You’ll need to exercise due diligence and patience. You’ll quickly find out that it’s not easy to search for the best new home in Singapore. For one, you will have to do your research on the surrounding neighborhood. You’ll have to consider what kind of amenities you really want for yourself or your family. Then, you’ll need to decide on the unit type that’s best suited for you.
Owning a new home is a dream come true for most of the people living in Singapore. Your new home could be a landed property, an HBD flat or a condo set in the heart of the city. There are many new home and condo listings being put up everyday. It’s an excellent time to invest, but you’ll need to spend a lot of time and energy knowing which is best for you.
Luckily, we’re here to help eliminate some of the tediousness in finding a new home in Singapore. Here are 10 tips you should know:
1. Start With The Show Room
Do they have a show room you can check out? It will help gauge whether that condo unit or landed property is really the best for you and your family. Show rooms are there for a reason, and that is to determine whether the layout or the size is a good fit. Get a clear picture of what the sellers are offering- pay attention to the small details such as the window and the door type, the paint, shelving, fittings and tiles, etc. Put this on your memory bank, or take a picture so you can compare this with other properties you’re interested in.
Keep in mind that the show room is as close to the real thing as possible, but it’s not 100% accurate. You can see the actual site if it’s already built to get a better idea of what you’re buying.
2. View All Possible Homes For Sale
Chances are you’ll talk with a realtor that has many homes and condos for sale. It’s understandable that they’ll show you the best units first; part of their commission lies on the property that they sell. Potential home buyers can wise up and counter this tactic with a straightforward approach- simply ask them what other units or homes they have available for sale and view the ones that interest you the most. The realtor will understand and they should provide the ones that are for your best interest.
3. Location, Location, Location
The location of your new home is one of the most important things you should consider. Singapore is unique in that it’s a relatively small country with fully developed regions. Part of choosing the right home is considering where it is located.
Singapore is divided into 5 regions- Central, East, Northeast, West, and North. Each region has its uniqueness and caters to different individuals’ needs.
If you have the time, forego the home advertisement and allocate some time to physically check out the location. It would be a wise decision to go with a house that has commuting stations close by if you don’t own a vehicle. Get a map of the MRT stations and see where the bus interchange stations are. The best homes are ones that have modern conveniences located in close proximity, such as hospitals, parks, malls, sports centers, schools, etc.
4. Maximize The Internet
People will not have the time nor the energy to look at all the homes for sale in Singapore. This is where you’ll have to rely on modern technologies such as your smart phone and your internet connection. Simply do a quick search of the best property websites or type in specific keywords into major search engines such as Google to find what you’re looking for online. Using your smart phone, laptop or tablet, you’ll be able to browse through hundreds of property listings and the information you’ll need to narrow down your list.
You can eliminate some of the properties you don’t want to see by putting in specific geo-targeted keywords. If you like to locate homes near Central Singapore, then you can just type in “Central Singapore homes for sale” or anything similar. You can also key in districts, cities and establishments this way.
5. Premium Locations Cost More
Your dream home might be located just right outside your place of work, with a good school for your kids nearby. But this doesn’t mean it’s within your budget. The best properties have it all- good location, nearby conveniences, a great layout and just the right size. Some of them will also have great amenities such as Olympic pools, outdoor patios and even a massive garden. Make sure to examine each detail and find out which ones are the most important for you. Choose a home that has a great location instead of having one with more amenities and you could be saving tens of thousands.
6. Set A Budget That You Can Live With
Homes in Singapore are not cheap, so it’s good practice to first set an allocation budget and determine the magic number before purchasing a new house. Do a list of features that are a must-have (location, price, conveniences), then cross-reference the essential things you need with the list of properties that you want. Keep in mind that you may need to add on expenses such as commuting costs, insurance, taxes and homeowner fees if you want a condo.
Set a reasonable price limit and use this as a gauge for narrowing down your list of available homes for sale. If you’re uneasy about a certain property because it’s outside your budget, move on to the next one.
7. Hire A Real Estate Agent
This is an especially useful tip for buyers who are always on the go. Sometimes the option of looking at the available houses for sale and going to each one is simply impossible, but you can always get help from the experts. A real estate agent can help you narrow down the list according to the specifications you want. You can set a budget, the preferred location, an approximate size and how you intend to use it, and the agent will do all the rest. These real estate agents are knowledgeable about the current property market because they always follow Singapore property news. Moreover, they can help you with the required documents and recommend new homes that have low interest rates.
8. The En-bloc Dilemma
This tip is for those who are considering buying a condo unit. An En-bloc agreement means that the condo owners will have to sell their units to a developer who could tear down the buildings and create a newer one. This means you’ll eventually have to start the search again for a new house in the future, which may not be an option if you have a large family.
Keep these tips in mind when looking for a new house to buy in Singapore. With proper preparation, planning and foresight, you’ll be buying the house of your dreams, all within your budget. Good luck!