Unforgettable Vacation: The Ultimate Guide To Singapore’s 5 Best Hotels
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
TLDR
When buying a resale flat in Singapore, make sure to walk around the neighborhood to assess actual distances, check the unit’s orientation using a mobile app, test the water heaters, inspect for loanshark activities, visit the flat at different times of the day to gauge noise levels, and evaluate nearby amenities. Additionally, perform a thorough financial analysis and consider your family’s needs and timeline before making a decision.
Buying A Resale Flat Is A Significant Investment – Make Sure You’re Getting Your Money’s Worth By Taking Note Of These 6 Key Points!
Singaporeans often opt for a resale flat over a brand-new one, as they can move in right away, without having to wait. What’s more, many of these resale flats are situated in established neighbourhoods – think all the convenience stores and hawker centres at your fingertips! However, it is wise to take a few precautions before making your purchase, as a resale flat has previously been lived in.
1. Take a Walk Around the Neighbourhood
Be warned that the oft-used phrase “just three minutes” when describing the proximity of an MRT station or mall to a flat is likely to be an exaggeration!
Take it upon yourself to walk the route to assess the actual distance and speed, as this may vary greatly depending on the individual – a 25-year-old athlete can cover it in three minutes, while it may take longer for someone less able.
Test it out for yourself and make sure you don’t get misled.
2. Use the Compass Mobile App
Be sure to ensure that your unit’s main window is not positioned east or west; if it is, you’ll be paying more for energy due to the sunlight beaming in from noon until dusk. Furthermore, some vendors may try to pull a fast one by telling you it’s facing “north-west” when it is really just westward facing.
3. Check the Water Heaters
If you’re interested in a unit with a storage water heater, it’s important to check that it is functioning properly. Let the water run for a few minutes with the heater on and assess its performance – is the water still cold after a few minutes or does it only provide slight warmth?
If the heater isn’t working optimally, bear in mind that it can be costly to either repair or replace it and you may need to hire a professional.
If you’d prefer to avoid running the water, another option is to touch the wall near the heater. If it’s functioning properly, the area should heat up shortly after you switch it on.
4. Check for Potential Loanshark Activities & Evidence
Be sure to closely inspect any paintwork, as you might still find evidence of loanshark graffiti underneath – even if it’s been painted over.
A seller would usually clean off the marks before showing the flat, but you can often spot the graffiti in the stairwell or common corridor, especially on other levels.
Keep your eyes peeled – this is one warning sign you definitely don’t want to miss.
Be mindful that, even if you are not the main target of loan sharks, you may still be adversely affected. For instance, the troubles of a nearby unit could spill over and affect you too.
Pay attention as well if any private CCTV cameras have been installed in the common corridor. It could be for security reasons or it could be an indicator of loan shark troubles.
5. Visit the Flat at Different Times of the Day
The ideal time to view the flat might be when sellers suggest it, but don’t be misled: the peace and quiet between 2-4:30 p.m. isn’t an accurate depiction of the area. To get a better idea of what you’re in for, drop by the area at a busier hour – say, 7 p.m. – and you’ll be met with the bustle of an evening market.
Living close to a major road may offer convenience, but bear in mind that it also comes with the potential for increased noise pollution from traffic and MRT lines, especially during peak hours and late into the night.
6. Explore Amenities that are Important to You
Before you decide to purchase a flat, be sure to evaluate if the amenities in the neighbourhood are suited for your and your family’s needs; for instance, a neighbourhood mall could inflate the cost of your flat, but would you be taking advantage of its retail outlets and eateries?
Visiting the mall may not be worth your money if you hardly ever go. Moreover, if the eateries in the area offer food that doesn’t fit your budget or dietary needs, there is no point in having them nearby.
To take things a step further, take a trip to the park, nature walk, or bus interchanges and evaluate whether they truly enhance your lifestyle.
Final Thoughts
- Carry out an in-depth financial analysis to guarantee you are making wise decisions for the near future and can confidently stand behind your decisions.
- Also take your timeline and family wishes into account, plan ahead and provide your family with a sense of security so that you can proceed with peace of mind.
If you’re curious about the prospect of relocating to private property and would like expert advice, I’m just a message away!
You May Also Like …
Will New Launch Condos See a Drop in Prices Soon?
TLDR The real estate market in Singapore is experiencing a trend of lackluster bids for prime properties in various locations....
Read More
What Hidden Costs Are There When Selling Your House?
TLDR When selling your house, be prepared to cover expenses such as outstanding home loans, legal fees, property agent commissions,...
Read More
Neighbourhood Estate Guide: Is Holland Village the Most Charming and Relaxed of HDB Estates?
According to the 2014 master plan, Holland Village was given the prestigious title of an "identity node," confirming its status...
Read More
5 Essential Tips for Renting Property in Singapore as a Foreigner: A Guide for Newcomers
TLDR Renting property in Singapore as a foreigner can be challenging due to the high cost of living. To navigate...
Read More
6 Unexpected Property Warning Signs That Can Be Negative for Some, But Beneficial for Others
TLDR When considering property preferences, what may appear as a disadvantage to some buyers could be a unique opportunity for...
Read More
Top 5 Reasons : Why Investing in Singapore’s Property Market Is a Smart Move for Expats – Expert Analysis!
Singapore, a thriving city-state in Southeast Asia, has long been a popular destination for expatriates seeking new opportunities and a...
Read More
Unlock The Key To Selling A Home With A Perceived Disadvantage Like Being West-Facing Or Close To A Rubbish Chute – Here’s How!
TLDR When selling your house, turn perceived disadvantages into advantages. For sun-facing homes, use UV sheets and blinds to manage...
Read More
Surprising Prediction: Will Singapore Property Prices Drop in 2024?
TLDR When considering the current real estate market in Singapore, it's crucial to understand the impact of factors such as...
Read More
Singapore’s Property Market: Will the Newly Proposed 2023 Cooling Measures, Including a 60% Foreigner ABSD, Make Waves or Mere Ripples?
TLDR The recent surge in Additional Buyer's Stamp Duty (ABSD) rates in Singapore targets mainly foreigners and entities, with rates...
Read More
Top 5 : Must-Do Experiences to Make the Most of Your Singapore Trip
Singapore, a vibrant island city-state located off the southern coast of Malaysia, is a melting pot of cultures and a...
Read More
Singapore Property Investing: Is It Better To Flip Or Hold?
Investing in Singapore property can be a profitable venture, but investors must choose the right strategy to maximize their returns....
Read More
Which Is Better For You: A 99-Year Leasehold Or Freehold Property Tenure?
TLDR When it comes to the choice between leasehold and freehold properties in Singapore, several factors must be considered. Leasehold...
Read More
Top 5 Reasons : Why Singapore’s Property Market Is a Safe Haven for Investors in Uncertain Times – Insider Analysis!
In today's uncertain global economic climate, investors are constantly on the lookout for safe havens to park their wealth. Amidst...
Read More
6 Key Contrasts Between New Launch and Resale Condos to Assist You in Making the Right Choice
TLDR When deciding between a new condo or an older resale unit, consider the differences in design features. Older condos...
Read More
6 Essential Factors HDB Upgraders Should Be Aware Of Before Purchasing a Condo in 2023
TLDR When upgrading your property, consider factors like rental rates, Buyer's Stamp Duty adjustments, higher interest rates for bank loans,...
Read More
5 Secrets To Successful Property Investing In Singapore
Investing in property is a popular option in Singapore, with many investors seeing it as a lucrative way to build...
Read More
Why Chinese Investors Should Not Be Deterred by ABSD: 5 Reasons
Why Chinese Investors Should Not Be Deterred by ABSD: 5 Reasons Here are the top 5 reasons why Chinese investors...
Read More
Top 5 Seafood Restaurants in Singapore
Singapore, a melting pot of cultures and culinary delights, is well-known for its diverse food scene. With its strategic location...
Read More
Top 5 Best Alternative Music Venues in Singapore
Singapore, a vibrant and bustling city-state, is known for its diverse culture and thriving arts scene. The city's love for...
Read More
