Your search results

Tips for Choosing the Home of Your Dreams

Posted by Jayson Ang on December 26, 2022

| 0

TLDR

Decoding the Singapore property market can be challenging, but understanding key factors like property size, location, and lease tenure is crucial. Consider proximity to amenities, good schools, and future development plans. Ensure the unit’s orientation suits your needs and check the lease balance for leasehold properties. Stay informed about area transformations and assess your long-term property goals. For expert guidance and strategic advice tailored to your unique circumstances, seek professional assistance to make informed decisions in the real estate market.

Buying a new house can be a thrilling and at times nerve-racking experience. It’s time to make the big decision on where to call your home! Maybe you are considering the stylish Tiong Bahru, the breezy air of Marine Parade, the vintage feel of Joo Chiat, or a more suburban option like Ang Mo Kio and Yishun. After crunching the numbers on your budget, check off this helpful checklist to help you find your dream home.

Proximity To MRT & Key Amenities

The importance of having an MRT station close to your residence should never be taken for granted; preferably within walking distance. If you happen to live farther away, then a feeder bus ride may be necessary – adding an extra 15 to 20 minutes to your morning journey. This may not seem a lot, but this extra time can come in handy for those who have to take their kids to school or are lacking in sleep.

Your property will be more alluring to resale buyers, potentially fetching a 5-10% higher price, if you’re located within a 5-8 minute walk to an MRT station. The presence of nearby amenities like malls, supermarkets, and eateries shouldn’t be overlooked either, as they bring extra convenience and elevate the quality of life.

Apartment Size & Family Planning

Are you planning on having a family in the near future? Will your parents be joining you? That 3-room HDB flat at Queenstown may seem attractive and pocket-friendly, but would it be large enough to make room for any changes in the family structure? Family planning is a critical decision that all young couples should not ignore, especially those buying HDB flats; you must wait at least 5 years before being able to upgrade to a larger unit.

Proximity To Good Schools

Do you have school-age children at home, or are you expecting a new little one? The proximity to good schools – perhaps there are particular schools that you have in mind – should be a top priority when considering where to buy, since this will affect your kids’ commute during the school year. This is especially essential when purchasing an HDB flat, since you will be locked in for a minimum of 5 years before you can sell the flat and move somewhere else.

Orientation & Facing Of The Unit

When shopping for a home, facing should not be overlooked; not just for views of the city skyline or for Feng Shui, but for a practical reason. North-South facing units are the best, while East-West facing units may require higher electric bills to cool and could come at a discount when resold. Be sure to factor this in when making your decision!

Lease Tenure & Remaining Lease Balance

If you’re in the market for a leasehold property, particularly an HDB flat, it’s important to check its lease balance, as Singapore property leases come in a variety of forms, including freehold, 999-year, and 99-year. Most HDB flats come with a 99-year lease, but with a reversionary title to the state, meaning that once the lease expires, the flat reverts back to the state and the owner will receive no compensation.

If the outstanding lease is fewer than 70 or even 60 years, selling the unit may prove difficult later on as it may be difficult for a potential buyer to find financing to purchase the flat. However, those with freehold titles – typically residential properties – can be held onto in perpetuity, making them an attractive option for buyers, who benefit from their higher resale value and the possibility of passing them down through generations.

Future Transformation Plans For The Area

Prospective buyers should pay attention to any changes happening in the neighbourhood, for example, the opening of a new MRT station or a commercial centre. These developments can have a positive impact on the property’s growth potential in the future.

Keep in mind that looking out for homes in areas slated for redevelopment comes with certain drawbacks, as gentrification is a long process and owners need to be ready for disruptions like construction noise and other disturbances brought about by construction activities.

What is the final objective of the property purchase? Is it going to be your forever home or will you be looking to upgrade in the future? Though there is no right or wrong answer, a property purchase is an immense financial commitment and should be considered thoughtfully. To determine what your preferences and priorities are is an important first step!

For those looking to grow their wealth, preserve capital, build a retirement fund, or use property as a tool for social mobility, owning a property can provide the perfect opportunity!

Wondering What Move To Make In The Real Estate Market?

Whether it’s time to buy or sell, or if it’s best to wait, the decision can be confusing.

Keep in mind that everyone’s situation is different, and it’s important to consider your own unique circumstances before making a decision.

But don’t worry – my data-driven approach and years of on-the-ground experience will help provide clarity to you.

Whether you’re a first-time homebuyer or an experienced investor, we will take a systematic and goal-oriented approach to ensure you make the right decision.

I can help you by :

Providing Strategic Property Advice – will ensure you have the right plan to guide you in your property journey.
Finding the ideal buyers for your home – use of high quality photography, excellent response rate, and a deep knowledge of buyers gives us the edge to showcase your property in the best way possible, helping you meet your goals.

Here’s to a fruitful home hunting experience!

You May Also Like …

Mandarin Top 5

Top 5 Best Secret Gardens in Singapore

Jayson Ang – October 25, 2024 –

Singapore, a bustling city-state known for its modern architecture and vibrant culture, is also home to a plethora of hidden...

Mandarin Top 5

Top 5 : Dangerous Ideas Singapore Property Investors Have

Jayson Ang – March 5, 2025 –

Singapore's property market has long been considered a safe and lucrative investment option for both local and foreign investors. The...

Mandarin Top 5

5 Proven Strategies for Increasing the Value of Your Singapore Property

Jayson Ang – February 27, 2024 –

In Singapore's competitive real estate market, adding value to your property can be the key to making a profitable investment....

All Blog Posts Opinion

Breaking Through the Stalemate of En Bloc Sales

Jayson Ang – March 5, 2023 –

TLDR The Singapore property market faces challenges with the ongoing en bloc stalemate. Lower success rates, higher development risks, and...

Mandarin Top 5

Top 5 Historical Landmarks in Singapore

Jayson Ang – April 24, 2024 –

Singapore, a bustling cosmopolitan city-state, is known for its rich history and diverse cultural heritage. This small yet vibrant nation...

All Buying Tips Opinion

Ouch! Our $1.8 Million Condo Investment Blunder: Unpacking 5 Crucial Takeaways from Our Bad Experience

Jayson Ang – December 14, 2023 –

TLDR The blog post delves into the complexities of real estate investments using Bob's experiences as examples. It highlights the...

Mandarin Top 5

Top 5 Tips : Finding the Right Property: Location, Size, and Price in Singapore Real Estate

Jayson Ang – November 5, 2024 –

Singapore, known for its diverse culture, strong economy, and excellent infrastructure, is a popular destination for real estate investments. The...

Mandarin Top 5

5 Pros Of Buying A Resale Property

Jayson Ang – March 6, 2024 –

Luxury properties in Districts 9 and 10 of Singapore are highly coveted, and for good reason. From stunning views and...

All Buying Tips Selling Tips

The Emergence of Million-Dollar HDB Flats in Singapore: Could This Become the Standard Moving Forward?

Jayson Ang – July 28, 2024 –

TLDR Understanding the nuances of the HDB property market in Singapore, especially the trend of million-dollar flats, requires a deep...

All Blog Posts

Singapore Property Swapper

Jayson Ang – December 7, 2022 –

https://www.youtube.com/watch?v=B1NTnjxDPy4 Jayson Ang, also known as the Singapore Property Swapper, is a certified Propnex agent and top 1% producer who...