Buying a property is one of the most important decisions that you would have to do. You would have to consider several significant factors before you can actually come to a decision. They include the size, location, price and even facilities within and around the estate.
In Singapore, most specifically, acquiring a private estate is not easy for a first timer. For one, there are too many options to choose from. This makes selecting very difficult. It seems as if everything is the most viable place for you and your family to build a home. Thus, it is important to prepare a checklist of what you are looking for in a house.
Size does matter! The reason why you are looking for a private property is space. Condominiums and apartments actually have interesting sizes; however, reserved estates have bigger spaces to offer. Consider the number of family members that you have and what do you want to offer them. Do you want to provide them individual rooms or is it okay to let them share rooms? You should also consider the other things that you want to have like garden, pool or a patio.
The location of the property is very important. How far is it from your workplace or the schools of your children? Most of the time, location is the key to convenience.
Price is one of the most important things to look at in buying a property. In Singapore, most citizens acquire their properties through home loans. Banks and other financial institutions offer different home loan plans for Singaporean nationals. Most interestingly, the loanable amount for this type of financing is up to 90% of the price of the property that you intend to buy.
The exact amount or percentage of loan that you may avail is based on your financial capacity. Although it is quite easy to loan from banks, they will ask you to pass certain documents that would help them determine your ability to pay.
However, in applying for a home loan, the bank or whatever financial institution you may use would require you to pay for the processing of your transaction. You should also expect that banks intend to earn from you through interest rates. But, one thing for sure, the decision as to how much you would have to pay would still depend on the loan scheme that you will avail.
Finally, don’t ever forget the existing facilities or amenities available within the property or around it. If you have kids, it would be more interesting to find something that has a nearby playground or park. If you are only a few minutes away from transportation terminals then the better it will be, too.
Now, to narrow down your search, try reading a private property review. This will help you decide which to keep or remove from your options. You may also consider the assistance of a real estate agent or broker. In general, agents and brokers have portfolios of private properties that can meet your requirements. Apart from this, they can even help you in processing your loan or papers of your house.Tips