Every prospective buyer wants to look for the perfect chic home. Not just a home, mind you, but THE home. Finding the perfect home is about as challenging as finding your soul mate.
Amenities / Public transport
First, you need to decide the location of your property. Do you wnat to have close proximity to the public transport? Or closed-by amenities – schools, supermarkets, eateries, etc. Some may deem that staying close to the train station is not ideal due to its track noise. While others really like the idea of a 1-minute walk to the MRT station.
New or move-in-ready properties
Second, decide what you are looking for – new or move-in-ready properties. Yes, there is the occasional creative DIY buyer who wants to buy a fixer-upper at a bargain basement price. However, majority of the buyers will be looking at properties that they can imagine themselves living i. It’s love at first sight.
Third, determine your budget. But be careful. You don’t want to fall in love with a home that you may not be able to afford it. There are lots of online information on home financing and mortgage calculators (DBS, UOB, OCBC, etc…) that can help you work out your sum quickly. You should at least familiarize yourself with terminologies like BSD, ABSD, TDSR, MSR, or LTV as they may impact you, one way or the other.
Below is a quick indicative price for the initial down payment that home buyers may need to prepare when purchasing a private property in Singapore. The tabulation is only a ballpark figure as there may be additional miscellaneous expenses, and it should not be taken as a financial advise to ascertain home buyers’ decision. The value of the properties are extracted from URA private residential resale. If you are interested to know about the full details in the tabulation, please get in touch with us.
Connect with real estate agents
Finally, connect with a few real estate agents and decide how you would like to work them – exclusive or non-exclusive arrangement. Do you need to get ten real estate agents to help you find your dream home? Are you getting a good deal by casting a wide net? Think again! In Singapore, home buyers do not need to pay commission to real estate agent and find out more about how you should work with the professional real estate agents. Your professional real estate agents will likely prepare a proposal with in-depth data, insights of past transactions, profile of your chosen location, and so on. Just so you are on top of things, you may also search for past transactions of the location you looking for – URA private residential resale , Property Guru and SRX are great portals to begin with.
Are you feeling a bit overwhelmed? Ping us if you prefer to have a quick chat with us.