Buying a new house can be challenging.
It’s one of the biggest decisions you’ll ever make and takes a huge amount of time and resources.
(Especially in a place like Singapore, where property is at a premium.)
This article goes over some of the factors you should consider before getting a new house and will help you make the right decision and get the best possible deal.
First, it’s important that to find a home which suits your lifestyle.
Families will have different needs compared to single people and require things like schools and nurseries.
Then look at the surrounding property values.
You can do this by checking listings in the area. The value of other properties surrounding the home you want will give you an idea if the price you’re about to pay is fair.
Market timing is another critical factor.
Price isn’t always determined by the home itself but by when you buy it. And whether you buy at the top or bottom of the market can make a huge difference.
You should also keep an eye on market volume.
Watch how many houses are being bought and sold. A high volume of house sales (Without a commiserate rise in price) is a good sign that it’s time to buy because prices are about to rise.
And check the redevelopment authority’s plan in the area.
If it’s going to be redeveloped then it might be a good idea to buy property there.
Be careful when viewing.
Realize that house viewings are often done strategically. The agent will take you to the property during the coolest and quietest time of the day and when the view looks the best.
And because of this you should view the home more than once and at different times of the day.
Transport is another key factor.
Are there bus stops, trains and taxi’s nearby? Take this into account because even if you have transport now you might need it later.
Finally check what amenities are in the area.
Look for things like schools, shops, sports facilities and also a police station. Amenities will all benefit you and increase the value of the property.
Buying a new house is a big decisions and needs to be done right.
Use the tips in this article to get started and if you’re still unsure consider hiring an estate agent.