Singapore Property is not cheap and the very fact is that Singaporeans do not have that many millions to spare, find the perfect private property can be challenging. If we have that many millions to spare, we can purchase properties in other countries as well. Hence, with the limited floor size and land in Singapore, every property that we buy have to be “Perfect”.
Choosing the perfect private property requires a few criteria. We need to analyze our needs, budget, location of the property, the number of people that will be staying in the house, and the kind of view that comes with the property. In Singapore, properties are expensive and we have to be careful with every decision that we make.
What are your needs for the property?
To purchase a perfect property, the buyer has to know the purpose of the purchase. Are you buying the property for investment, to have rental yield, or is it for own stay? This is because no property can satisfy these 2 criteria at the same time.
budget for your dream house
Doing a detailed financial calculation will help you to know the approximate budget that you can set aside for the purchase of the property. Unfortunately, Singaporean are very cash-strapped and we do not have the luxury to purchase any property that we want. Therefore, having a budget will help to filter out the correct properties for the buyer.
Next, you need to consider your ability to maintain loans and expenses while owning the property.
Number of people to stay in the house
Deciding on the number of people that will be staying in the house will also be an important factor in filtering out your choice of property. Will you be having kids soon? Will you be staying with your parents? This will depict the number of bedrooms that you need or how you want to go about planning them.
City view or Sea view?
There are three types of views: City View, Scenic / landscape views, or sea view. Just take note that city and sea view tend to have very little capital appreciation upon purchasing the properties. This is because the buyer has to fork out a higher price for those views. Those views are already factored into the price. Thereafter, when selling the property, you have a lesser margin to work with. Choosing the floor level is important as well, do you need a high floor unit or are you okay with a low floor unit.
Location, location, location
The location of the property is important as well. Usually, I would advise the buyer to first decide on the zone of Singapore they are looking at, North South East West. Thereafter, zoom down more by identifying if you need the property to be near MRT, near kids school, or do you need the property to be quiet and serene.
Consider all the factors that makes up the perfect private property
There is always a way to find the perfect private property, we just have to scrutinize the correct factors. Hence, we have to consider factors like location, views, the purpose of buying the property, and the number of people staying in the household. That can help you decide if buying a property is a good investment and thereafter deciding if it is a good time to buy now.
Remember that real estate will be the biggest asset and net worth in your lifetime. Choosing the right property to contain these lovely memories will be important to you and your family! You can rest easy and leave the hard work for me to find the perfect house for you.