BUYING TIPS (Tips for Singaporean)
Location
You have to first determine where's the most likely location for you and your family to live at, by taking into consideration several important factors such as distance from working place, schools, kindergartens and places your family visits frequently, accessibility, lifestyle, etc.
Type & Size
What is the type and size of house do you need? You have to plan for the next few years, say at least 3~5 years. Ask yourself whether there will be any addition (due to new born or moving-in) or any reduction (due to moving-out) of your household members in the near future. How many bedrooms do you need? Where is the area within the house that your family would likely to spend most the time?
Budget
After determining the location & size of your future house, you need to start financial planning by looking into your own financial status - monthly household saving, asset, CPF ordinary account balance, other financial commitments, etc. You can source around just by talking to the banks for the best mortgage packages in terms of interest rate, loan tenure, early redemption penalty, bank charges, etc. Before you get on the frenzies of sourcing for your mortgage loan, it's best to check the local regulation on bank financing.
Amenities
Are there any amenities like shops, eating places, banks, market, school, transport, etc. within walking distances?
House Viewing
Don't lose track of the numerous properties you may view. During viewing, try to note down the address, asking price, floor area, orientation and add in your comments too. Here is what you should look out for when viewing a property:
(1) Water seepage. Signs of water seepage like peeling paint work, damp patches or discoloration;
(2) Wall cracks. Crack lines and spalling concrete on walls, pillars and ceiling;
(3) Layout. Odd shape rooms may mean that you will have problem to fit in your existing furniture.
(4) Condition of property. Renovated and well maintained property will save you from incurring extra renovation cost.
(5) Noise. If you need lots of peace and quiet, try to visit the property at different times of the day to identify and gauge the potential sources of noise nearby.
Making Decision
Always keep your cool and avoid rush decision upon finding the property that suits you best. However, you have to decide soon; otherwise somebody eyeing the same property may deprive you of your dream home!
Keep an Open Mind
Always bear in mind that, there is no such thing as 100% perfect house! Always keep an open mind and be prepared to have some flexibility with your expectation.
Credit to : http://www.geocities.com/singaporeagent/buyingtips.html
You have to first determine where's the most likely location for you and your family to live at, by taking into consideration several important factors such as distance from working place, schools, kindergartens and places your family visits frequently, accessibility, lifestyle, etc.
Type & Size
What is the type and size of house do you need? You have to plan for the next few years, say at least 3~5 years. Ask yourself whether there will be any addition (due to new born or moving-in) or any reduction (due to moving-out) of your household members in the near future. How many bedrooms do you need? Where is the area within the house that your family would likely to spend most the time?
Budget
After determining the location & size of your future house, you need to start financial planning by looking into your own financial status - monthly household saving, asset, CPF ordinary account balance, other financial commitments, etc. You can source around just by talking to the banks for the best mortgage packages in terms of interest rate, loan tenure, early redemption penalty, bank charges, etc. Before you get on the frenzies of sourcing for your mortgage loan, it's best to check the local regulation on bank financing.
Amenities
Are there any amenities like shops, eating places, banks, market, school, transport, etc. within walking distances?
House Viewing
Don't lose track of the numerous properties you may view. During viewing, try to note down the address, asking price, floor area, orientation and add in your comments too. Here is what you should look out for when viewing a property:
(1) Water seepage. Signs of water seepage like peeling paint work, damp patches or discoloration;
(2) Wall cracks. Crack lines and spalling concrete on walls, pillars and ceiling;
(3) Layout. Odd shape rooms may mean that you will have problem to fit in your existing furniture.
(4) Condition of property. Renovated and well maintained property will save you from incurring extra renovation cost.
(5) Noise. If you need lots of peace and quiet, try to visit the property at different times of the day to identify and gauge the potential sources of noise nearby.
Making Decision
Always keep your cool and avoid rush decision upon finding the property that suits you best. However, you have to decide soon; otherwise somebody eyeing the same property may deprive you of your dream home!
Keep an Open Mind
Always bear in mind that, there is no such thing as 100% perfect house! Always keep an open mind and be prepared to have some flexibility with your expectation.
Credit to : http://www.geocities.com/singaporeagent/buyingtips.html
posted by ebazaar at 9:35 PM
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