The most affordable homes in Singapore are generally HDB flats.
For young couples, buying their first home can be a daunting task. To help them make better property decisions, PropertyGuru has listed three tips to guide them as they make one of the most important purchases in their lives.
1) Set clear priorities
When buying your first house, focus on what’s truly important to you and your partner. Hence, ask yourselves some questions to narrow down the search for your dream home.
Do you want a big unit in anticipation for a big family, or are both of you content with a small one? Should it be located close to your parents or workplace? Is it within proximity to amenities such as good schools, or are there any nearby parks or playgrounds?
2) Buy within your means
Nobody wants to experience buying a home that subsequently gets foreclosed by a bank. Thus, it’s vital to determine your family’s budget for housing.
For Singaporeans, the most affordable units are typically HDB flats followed by executive condominiums. The wealthy have other options like private condos and landed homes.
3) Hire a property agent
Although you will save on the commission by not engaging a property agent, it’s advisable to hire one, especially if you and your partner have not bought a home before.
With an agent, your family will save a considerable amount of time in the home-buying process. Not only will they bring you to view units that fit your family’s needs, they will also handle all paperwork involved in the sale due to their in-depth knowledge of the relevant rules. Furthermore, they will look out for your interest and provide advice on possible issues such as hidden defects.
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