My 6 Factors to Consider When Buying a Property in 2023
As the housing market shows no signs of slowing down, many of us may feel left behind, questioning whether it...
Read More
TLDR
When considering purchasing an older flat, ensure to thoroughly inspect wet areas for leaks, check balcony conditions, watch out for spalling concrete, inspect windows for maintenance, be cautious of uneven floors and popping tiles, examine the garbage chute in ground-floor units, and check plumbing functionality. Additionally, seek information on past plumbing work from the seller or agent. This checklist will help you make an informed decision about buying an older flat.
Older flats have their charm, right? They’re ready to move into straight away.
But remember, they come with a history and sometimes, that means wear and tear that could lead to headaches down the line.
Not to worry though, we’ve got a handy checklist for you:
1. Start with the wet areas, like bathrooms and under the sink
Leaks are common in these spots. You’ll usually spot them as discoloured or damp areas. Sometimes leaks can come from your upstairs neighbour, which might require some negotiation to fix. If the leak’s from the roof or your unit’s on the second floor, you might need to split the repair cost with the town council. Dealing with these issues before buying is your best bet.
2. Check out the balcony
Older flats often have large balconies that can be hard to maintain. You want to avoid ones with poor drainage or where water tends to puddle. Look for stains, discoloured patches, cracks or rust on metal railings. And if you have kids, ensure the railings are secure and not corroded.
3. Keep an eye out for spalling concrete
That’s a fancy term for when concrete starts to crack or chip due to embedded steel rusting. It can turn into a big problem if left unchecked. Get a contractor to take a look before buying.
4. Inspect the windows
Window maintenance is a must. Check for rusted tracks and screws. Also, make sure the window height is at least one metre off the floor. If it isn’t, you’ll need professional help to replace it.
5. Watch out for uneven floors or popping tiles
HDB won’t always cover the cost of repairing these issues. You might need to find a contractor to handle it. Also, be wary of tiles in wet areas like bathrooms and kitchens as they are prone to water damage.
6. For ground-floor units, check the garbage chute
This is often located in the kitchen and can lead to pest problems, especially if it’s not well sealed. Some folks seal it up entirely to avoid the issue.
7. Make sure the plumbing is working well
You know, old apartments tend to have their fair share of plumbing issues. From clogged pipes that could potentially lead to leaks, to other problems like weak water pressure or even that unpleasant smell caused by rusty pipes.
It’s not too tough to spot some of these issues. You could simply flush the toilet a few times, or maybe give the faucet a turn to see how strong the water pressure is. But some problems are a bit more sneaky, like hidden leaks. These invisible culprits can drive your water bill sky high without you even noticing a single drop of water out of place.
So, when you’re thinking of buying one of these old flats, it might be a good idea to chat with the seller or the agent. Ask them about the last time any plumbing work was done on the place and what exactly was fixed or replaced. It could save you a lot of trouble down the line.
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 …
6 Reasons to Think Twice Before Hiring a Friend or Family Member as Your Agent
TLDR In Singapore, hiring a friend or family member as your property agent can be risky. Disclosing sensitive financial details...
Read More
The 5 Most Common Mistakes First-Time Buyers Make (And How to Avoid Them)
The 5 Most Common Mistakes First-Time Buyers Make (And How to Avoid Them) Here are the 5 most common mistakes...
Read More
Learn How To Negotiate For The Best Price When Purchasing a Resale HDB Flat
Navigating the complexities of purchasing a resale HDB flat requires honing negotiation skills and market awareness. Understanding property valuations, seller...
Read More
Top 5 Places to Learn About Singapore’s Diversity
Singapore, a vibrant city-state in Southeast Asia, is well-known for its diverse culture and rich history. A melting pot of...
Read More
Mortgage Interest : The True Cost of Buying and Owning Properties in Singapore
TLDR When considering buying a property in Singapore, it's crucial to understand the true costs and risks involved. High monthly...
Read More
Should Buying A Low Lease Project Be A Viable Option?
TLDR When considering low lease projects in Singapore, it's crucial to evaluate your individual needs, financial standing, and future plans....
Read More
5 Reasons Why It’s A Great Time To Buy Property In Singapore In 2024
Singapore's property market is known for its stability, high demand and strong returns. With a growing population, low unemployment rates,...
Read More
The Sneaky Role of Property Appraisals in Shaping Singapore’s Home Prices
TLDR When it comes to the real estate market in Singapore, understanding property valuations and the impact on mortgage loans...
Read More
The Top 5 Impact Of Singapore’s Ageing Population On The Property Market And Investment Opportunities
Singapore's ageing population is having a significant impact on the property market and investment opportunities. The top five effects include:...
Read More
5 Reasons : Can Your Real Estate Investment Hedge Against Inflation?
Inflation is an economic phenomenon that can have a significant impact on an individual's financial well-being. As the cost of...
Read More
I Purchased My First Property in My Mid-20s: Avoid These Common Mistakes!
TLDR When it comes to property ownership, Charles learned valuable lessons through his journey as a youthful homeowner. From opting...
Read More
5 Reasons : The Benefits Of Investing In A Property With Good Access To Healthcare Facilities In Singapore
Investing in a property with good access to healthcare facilities in Singapore offers numerous benefits for both homeowners and investors....
Read More
5 Factors : Why Singapore’s Prime District Properties Are Still In Demand
Singapore's prime district properties continue to be in high demand due to a combination of factors that make them attractive...
Read More
What Is The Cost Of Constructing A Landed Property In Singapore?
TLDR Building a landed property in Singapore can be a costly endeavor, with prices ranging from $300 to $500 per...
Read More
Top 5 Bookstores in Singapore for Book Lovers
Singapore, a bustling cosmopolitan city, is known for its rich cultural heritage, diverse population, and of course, its love for...
Read More
Calculating Your Property’s Annual Value in Singapore 2024: A Simple Guide!
TLDR Understanding your property's annual value is crucial for determining property taxes in Singapore. The annual value is based on...
Read More
Buying HDB Resale : How to Minimise COV
TLDR Understanding Cash Over Valuation (COV) is crucial when buying a resale HDB flat in Singapore. COV is the additional...
Read More
With a population of 6.04 million in Singapore, who are the winners and losers in the property market?
There has been significant outcry regarding Singapore’s population hitting a record high of 6.04 million, largely due to an increase...
Read More
Top 5 : Best Karting Circuits in Singapore
Singapore, a bustling city-state known for its modern architecture, cleanliness, and vibrant culture, is also home to a thriving karting...
Read More
