As the housing market shows no signs of slowing down, many of us may feel left behind, questioning whether it is time to purchase a home or wait for the market to level out. Recently, some of my clients opened up about their own experience about selling their property last year, fearing that inflation and rising interest rates would make it difficult for people to obtain mortgages for real estate. To their astonishment, however, property prices in Singapore remain unscathed and they now accept that they may never lose momentum.
If you’re considering buying property this year, I’ve identified six essential criteria for making a wise decision in 2023.
Please remember that this is only my opinion and experience;
Living in close proximity to an MRT station is a major advantage when it comes to selecting a property in Singapore, even though the country is quite small. This is due to areas being less easily accessible, as well as the potential for capital appreciation, rental demand, and amenities that are often nearby.
Living close to reputable schools is a highly sought after feature for many parents – and for good reason. As the father of a three-year-old, I can attest to the anxiety of locating a suitable home in close proximity to a quality school, preferably within a one-kilometer range.
The availability of new launches in the area is a major factor to consider, especially for investors. After all, these properties often boast modern amenities and tend to be more appealing to prospective tenants, which can lead to a higher return on investment.
Buying an older property may seem like a bargain, but in the long run you could end up forking out more on maintenance and renovations. The fourth criterion to consider is the age of the property – it pays to think ahead!
Price is a critical factor when considering a property purchase. Although a cheaper price tag may seem like a bargain, it’s crucial to determine if the asset will retain or increase its value over time.
As interest rates remain uncertain, it is of utmost importance to ponder if you can make the mortgage payments in the long haul – and the interest rate is the final criteria to keep in mind.
To sum it up, purchasing real estate in 2023 can be quite a challenge, but by taking into account these 6 factors, you can reduce your risk and maximize your return. Remember, acquiring a property is a major investment, so dedicate the time to investigate and make a wise decision.
Should You Buy, Sell or Wait?
If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?
It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.
I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.
I can help you by:
- Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
- Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.
You May Also Like …
Jayson Ang – February 11, 2024 – Share
Madam Tan voiced that approximately two years ago, when her apartment hit its minimum occupation period, she and her spouse...
Read More
Jayson Ang – December 19, 2022 – Share
TLDR The blog post provides valuable insights for first-time buyers on navigating the resale property market in Singapore. It covers...
Read More
Jayson Ang – April 24, 2023 – Share
TLDR The 2022/23 property market is experiencing high prices, making it challenging for individuals to decide whether to upgrade their...
Read More
Jayson Ang – January 20, 2023 – Share
TLDR Understanding Cash Over Valuation (COV) is crucial when buying a resale HDB flat in Singapore. COV is the additional...
Read More
Jayson Ang – December 19, 2022 – Share
TLDR Jayson Ang, a reputable real estate agent in Singapore, offers extensive experience and a data-driven approach to guide clients...
Read More
Jayson Ang – May 14, 2023 – Share
Hey everyone! Today I want to share with you the 5 hottest neighborhoods in Singapore for real estate investment. These...
Read More
Jayson Ang – March 27, 2023 – Share
TLDR The Urban Redevelopment Authority (URA) Flash Estimates for Q4 2022 show a 0.1% increase in non-landed private home prices...
Read More
Jayson Ang – March 16, 2024 – Share
Investing in property can be a great way to build wealth and secure your financial future. However, with Singapore's highly...
Read More
Jayson Ang – July 6, 2023 – Share
Unforgettable Vacation: The Ultimate Guide To Singapore's 5 Best Hotels It's 五新房产, Singapore is a vibrant and exciting destination, known...
Read More
Jayson Ang – March 5, 2024 – Share
Singapore, a bustling city-state known for its stunning architecture and diverse culture, is also a paradise for luxury shopping enthusiasts....
Read More
Jayson Ang – January 8, 2023 – Share
TLDR: Understanding the HDB Market Outlook 2023 The HDB resale market showed resilience in 2022, with significant growth in sales...
Read More
Jayson Ang – June 12, 2023 – Share
The 5 Most Common Mistakes First-Time Buyers Make (And How to Avoid Them) Here are the 5 most common mistakes...
Read More
Jayson Ang – April 16, 2023 – Share
TLDR Setting up utilities in Singapore for a new home is hassle-free. Contact SP Services for electricity and water accounts,...
Read More
Jayson Ang – April 23, 2024 – Share
TLDR The Lease Buyback Scheme (LBS) trend among older Singaporeans is slowly gaining momentum, despite initial reluctance. The scheme allows...
Read More
Jayson Ang – December 7, 2022 – Share
When you flip open the papers or turn on the news nowadays, the common buzzwords are "INFLATION", " INTEREST RATE...
Read More
Jayson Ang – March 6, 2024 – Share
Luxury properties in Districts 9 and 10 of Singapore are highly coveted, and for good reason. From stunning views and...
Read More
Jayson Ang – January 5, 2023 – Share
TLDR When upgrading from an HDB flat to a condo, consider factors like location proximity, amenities, and regulations. Decide whether...
Read More
Jayson Ang – February 23, 2024 – Share
Here are my top 5 picks for districts in Singapore that offer easy access to some of the best shopping...
Read More
Jayson Ang – March 21, 2024 – Share
TLDR The Singapore property market is experiencing a decline in condo purchases by HDB flat owners due to multiple property...
Read More
Jayson Ang – December 7, 2022 – Share
TLDR Foreign buyers interested in private residential properties in Singapore is a common sight due to the country's positive reputation...
Read More