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When you are looking for a home in Singapore, there are many things which you must brood over. Hence, it is very important for you to spend a few days carefully visiting various properties and taking mental notes. Buying a home has many perks! It gives you the ownership of a treasured asset which invariably enjoys a high resale value. Plus, with the land prices appreciating on the island with the passage of time, it is a lucrative idea to buy a property and sell it at a future date. Whether you are buying a house for residential purpose or whether you wish to offer it for letting, here are some factors you must mull over before you make the purchase: i. Ideal time: When you are buying a home, you have got to time it right! A good time is not necessarily a time when you are enjoying a wealthy status! It has got nothing to do with your current income. Some buyers make the mistake of buying a home the moment they get hold of some money. However, the correct time to grab the property at the most optimum rate would be a time when the demand is at its nadir and the rates have nosedived. Hence, you need to constantly watch the market. Thankfully, the favorable market scenario currently enables you to buy residential units at the most congenial prices in some top properties like The Tembusu and Skywoods Dairy Farm. ii. Consider the peripheral costs: Most naïve buyers simply look at the price of the house and ignore other related costs. Apart from the EMIs which you will have to dole out for clearing the loan, you shall also need to spend money on taxes and other legal expenses. Costs related to the broker’s commission and registration fees cannot be undermined, since they can often make a substantial difference and affect your initial budget. iii. Matrimonial status: Some people like to apply for a home loan under a joint policy. So, if you are thinking of the same, then you must make sure that you and your spouse share a very healthy relation. In case, your relation is on the rocks or going through a troubled phase, then you must postpone the idea of purchasing the property, until things get amicably settled between the two of you. When bitter couples opt for house loans, then there can be some undesirable issues which they may have to face in the contingency of a divorce. It would be tough for you to handle the EMIs and to evade frequent disputes. iv. Location and neighborhood: One key element which should be uppermost in your mind is location. It is better to buy an ordinary house in a great location than to buy a grand house in a poor location. While considering this factor, do not just look for the accessibility and infrastructure. It is equally important that you have genial and friendly neighbors and a lovely neighborhood. Two properties which are making headlines in the real estate market for enjoying top-class locations are The Tembusu and Skywoods Dairy Farm. Currently, bookings are going on for buying units in these properties. For gathering more info about The Tembusu and also about Skywoods Dairy Farm, please check out these links.
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