Your search results

6 Must-Know Factors to Consider When Purchasing a Resale HDB in 2023

Posted by Jayson Ang on February 5, 2023

| 0

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 …

Mandarin Top 5

Top 5 : Nationalities Of Prime Property Buyers in Singapore

Jayson Ang – November 29, 2024 –

Singapore, a thriving city-state known for its stable political climate, excellent infrastructure, and strong economic fundamentals, has long been an...

Mandarin Top 5

Top 5 Coffee Shops in Singapore for Coffee Lovers

Jayson Ang – August 17, 2024 –

Singapore, a bustling city-state known for its diverse culture and vibrant food scene, has also become a haven for coffee...

All Buying Tips Opinion Selling Tips

Discover the Optimal Timing to Invest in Singapore Real Estate: Unveiling Historical Insights

Jayson Ang – August 1, 2024 –

TLDR When considering the best time to buy or sell a property in Singapore, historical data analysis reveals key insights....

Mandarin Top 5

Introducing Top 5 Power Property Tips

Jayson Ang – May 14, 2023 –

Hello, everyone! We are excited to welcome you to our blog posts! On this blog, we will be sharing daily...

Mandarin Top 5

Singapore’s Luxury Real Estate Market: The 5 Most Luxurious Neighborhoods

Jayson Ang – May 14, 2023 –

The 5 most expensive neighborhoods in the city, and are home to some of the most exclusive and opulent properties...

All Buying Tips Opinion

Should You Splash Your Cash on a Condo Despite the Sky-High PSF?

Jayson Ang – December 2, 2023 –

TLDR The blog post discusses various aspects of investing in condos in Singapore, covering topics such as leasehold versus freehold...

Mandarin Top 5

Top 5 : Must-Do Experiences to Make the Most of Your Singapore Trip

Jayson Ang – January 26, 2025 –

Singapore, a vibrant island city-state located off the southern coast of Malaysia, is a melting pot of cultures and a...

Mandarin Top 5

Top 5 Reasons : Why Investing in Singapore’s Property Market Is a Smart Move for Millennials – Expert Analysis!

Jayson Ang – October 13, 2024 –

In recent years, Singapore has emerged as a global financial hub and a prime destination for property investments. The city-state's...

Mandarin Top 5

Top 5 Seafood Restaurants in Singapore

Jayson Ang – April 3, 2024 –

Singapore, a melting pot of cultures and culinary delights, is well-known for its diverse food scene. With its strategic location...

All Buying Tips Opinion

Unlock the Secrets of Property Investment and Transform Your Financial Future!

Jayson Ang – September 30, 2024 –

TLDR The Singapore property market has experienced fluctuations, impacting private home prices. Understanding your financial capacity is crucial when considering...

Mandarin Top 5

The 5 Most Popular Types of Properties to Buy in Singapore

Jayson Ang – May 19, 2023 –

The 5 Most Popular Types of Properties to Buy in Singapore 1. Condominiums: Condos are popular among buyers because they...

Mandarin Top 5

Top 5 : Benefits of Investing in Newer vs. Older Singapore Property Market Condos for International Buyers

Jayson Ang – January 4, 2025 –

Singapore's property market has always been an attractive investment option for international buyers, thanks to its stable economy, strategic location,...

Buying Tips Mandarin Top 5

Sentosa’s Sizzling Property Market: 5 Reasons Chinese Investors are Flocking to Singapore’s Premier Island

Jayson Ang – June 20, 2023 –

Sentosa's Sizzling Property Market: 5 Reasons Chinese Investors are Flocking to Singapore's Premier Island Here are the top 5 reasons...

Mandarin Top 5

Top 5 Factors : Why Now Is the Perfect Time to Invest in Singapore’s Real Estate Market – Insider Analysis!

Jayson Ang – March 15, 2025 –

Singapore's real estate market has always been an attractive investment destination for both local and international investors. The city-state's stable...