Planning on buying a house in Singapore and don’t know how to go about with that? Public housing is considered cheaper. Here are a few things that you need to know before you buy a house for yourself in Singapore, these will include:
- Your nationality: only private properties can be purchased by foreigners or else if they have a Singaporean family member, spouse. A foreigner will not able to purchase HBD. The permanent residents of Singapore can buy private properties and also the resale HBD flats. The Singaporeans can buy new HBD flats which can be given on rent or sold only after 5 years of its ownership.
- The amenities: the condos include amenities like the swimming pool or a football court or even a gym, such features right next to you at your door step is an attractive form to target the buyers. These condos also have some unique features which include the security system where in the people who are not the residents there cannot have their entry without a valid reason.
- The location: there are a few places which do not have the HBD’s. You can choose a house for yourself with a good facing view and a good landscape for the garden too. Where exactly do you want to be located, this needs to be kept in mind while buying a house.
- The grants from the government: depending on the type of housing the grants from the government will definitely vary and that could affect your income to some extent
- The charges of maintenance: for the HBD flats, the services charges are comparatively low to the condos. The charges there will be expensive and a waste if you don’t use the amenities that are provided by them. While if you take into consideration the landed property, you will have to decide if you want to so the cleaning all by yourself or you want to get someone hired to do so. But when its a smaller area the cleaning is less and so are the charges of the utility bills!
To get yourself a cheap house for sale in Singapore you can visit a housing agent who will help you get through this or if you don’t want anyone involved and want to get it done on your own, you can look up on the internet and find the appropriate information that you require in order to get a house. But sometimes asking for help and taking advice isn’t that bad too. It can make you aware of things that you never knew before.
What are the things that you need to keep in mind while dealing with an agent to help you buy a house?
- Understand the working of the agent: there is a high motivation in the agents to do a good job for their customers. Agents do not work for free since they are not public servants. Most of the real estate agents are paid commissions.
- Make appointments and be punctual: you probably won’t be the only client of the agent that he/ she has to deal with in a day, so when you make an appointment make sure you are punctual enough and do not forget about the appointment and keep your agent waiting. If you are running late or cannot make it that day make sure you inform your agent well in advance.
- If you consider a buying broker make sure you sign the buyer’s broker agreement: signing this buyer’s broker agreement it helps you in creating a relationship between you and your agent. It helps you understand the duties of the agent towards you and vice versa. Don’t forget to ask your agent if he/she will release you from the contract in case of your dissatisfaction.
- Tell your agent what are your expectations: let your agent know how often you want to be contact and the mode of communication as well, maybe if you prefer texts, or calls or even emails. Let out your preferences. If you are not satisfied with their work, tell them, be loud so that they make an improvement.
- If you do not understand anything that is being mentioned in the form, do not sign it: do not feel embarrassed to ask your agent for an explanation about the form, he/ she will definitely help you understand because that is their job. Law cannot be interpreted by the agents since they are not the lawyers. Asking them for a legal opinion is like a huge ‘No’.
Since the consideration is cheap house for sale in Singapore, we will have a look at the different categories of housing available in Singapore.
- The public housing: this is being subsidized and maintained by the Housing and development Boards (HBD) and here the citizens enjoy their stay at affordable prices. The different segments of the HBD are mentioned below, which will include:
- Studio apartments
- 2 room flat
- 3 room flat
- 4 room flat
- 5 room flat
- 3 gen flat
- Executive flats
- The DBBS flats
- The public-private hybrid: The Executive Condominium: this starts off as a public housing unit and then later bifurcates into the private housing sector after an ownership of 5 years. This executive condominium has most of the facilities and designs of the private condominium but has the cheap edge of being issued by the HDB. It also comes along with some of the ownership restrictions.
- The private housing: Singapore is a hotspot for real estate investments. When considered with a historical perspective, the prices of these private properties have been on a rising trend. The segments included in the private housing are:
- Walk ups
- The landed property: these have been admired for their sheer size, spacious living and the privacy too. The maintenance of this property is high. The dwellings included in this segment are:
- Terrace houses
- Town house
While searching for a cheap house for sale in Singapore you have to keep your budget in mind, also you need to see where the house is located and if it fulfils all your basic needs.