How To Buy A House In Singapore: Step By Step Guide

By Author: Edmund Brunetti
Total Articles: 738
Comment this article

Buying a property in Singapore is no mean task. It requires a Herculean effort to ensure that you have made the best bargain. Since, the investment is a pretty hefty one, the buyer must leave no stone unturned in carrying out market research. Nevertheless, here is a step-by-step guide for buying a house on this island:

I. Hire professional services: The best way to grab the best prices at the best rates is to take professional help. A real estate agent can easily help you buy the best home through his competence and experience. Top class agents have good information about upcoming and hot properties like Skywoods and Cluny Park Residence. Some people often hire services of multiple agents. This is not quite recommended since it can lead to some confusion.

II. Checking out different properties: It is your duty to familiarize the agent about your desirable location and your precise budget. Armed with this vital information, the agent would immediately browse up for the properties which will suit your requirements. You must check out each property meticulously and take time to make the final decision. It is usually ...
... said that potential buyers must sleep over the decision and take a few days, instead of jumping to conclusions.

III. Transaction dealings: Once you feel inclined to buy a property, you can finalize the details and execute the transactions. The formalities of documentations can be completed with ease with the aid of the agent. You will also need to compute the commissions which you would need to offer to the agent. The amount is usually quite nominal (around one or two percent).

IV. Arranging funds: Unless you are an extremely wealthy person with lots of disposable cash, it would be advisable to apply for a bank loan. Bank loans can be borrowed for amounts valuing up to 80 percent of the price of the estate. However, there are various terms and conditions which vary with different banks. Also, if you are not a local to the island, then you may not be granted loans up to 80 percent. But you can still expect loans valuing around 60-70% of the property value. The rest of the sum would have to be paid by the purchaser out of his own pocket.

When you are buying a home, you will need to evaluate your budget properly. A number of first-time house buyers often err in judgment and make incorrect assessment of their needs. Whenever you select a property, make sure that you would be able to dole out a minimum of 30% of the property’s value. If you find that you will not be able to meet the minimum requirement, then you must immediately look for a cheaper alternative.

The fresh housing properties like Skywoods offer diverse residential units with varying prices. You can select a unit as per your budget and requirement. Cluny Park Residence is another estate which has now gone on sale and is being cited as one of the most coveted estates. Its grand location and salubrious natural environment has made it on the top of the wish list of many house hunters.

For gathering more info about Skywoods and also about Cluny Park Residence, please check out these links.