With its limited physical land and ever growing population, how to find the right condo in Singapore is indeed difficult. Choosing the most suitable home for you and your family requires utmost patience and extreme diligence. Imagine that on top of stretching out your finances, you have to deal with various challenges such as finding the perfect location, selecting the right amenities, checking out the neighborhood, deciding on the unit type and many more.
Owning a home is the ultimate dream of every Singaporean. If you find landed properties too expensive and HDB flats plain simple for your needs, then condominiums which is the most sought after property nowadays is just perfect. However, with tons of listings and new launches sprouting almost every day, how to find the right condo in Singapore is without a doubt energy-draining.
To save much of your time, money and energy looking for the perfect abode, check out these Singapore condo buying tips.
10 Tips on How to Find the Right Condo
1. Location is extremely important
Although small, Singapore is a fully developed country. Narrow down your options by deciding on which region to live. Singapore is divided into five regions; Central, North, North East, East and West regions. Don’t rely on the brochure map as it is often misleading, visit the physical location of the condominium to check it yourself. If you don’t own a car, find a condominium that is commuter friendly. Check out the nearest MRT and LRT along with adjacent bus interchange stations. Additionally, make sure that the place has easy access to basic services such as schools, hospitals, malls, sports centers, parks, etc.
2. The condo type and unit matters
High-rise condominiums are definitely upscale while low-rise condos feature a more intimate neighborhood experience. If you would be living with your parents or grandparents, low-rise condos would be more accessible. But if you are a bachelor or young couple, choosing a high-rise building would certainly fancy your desires. Taking into consideration the right condo unit is equally important, a 1BR suite is perfect for couples while those with extended family might want to consider multi-generation flats or 4BR units.
3. Premium condo facilities come with a price
Most of the time, condominiums are equipped with opulent facilities one would need for a luxurious living. Tennis court, sauna, modern gym, Olympic size pool, BBQ pits, multi-function rooms and many more. While they might sound attractive, premium condo facilities often add up to the exuberant price tag of the flat. If you would not be needing any of these premium amenities, choosing a condo with complete facilities rather than premium amenities will save you thousands of bucks.
4. Check out the community’s available facilities
In relation to the above mentioned tip, be informed that within your community are public facilities you can use for relaxation and recreation purposes. Why would you need a modern gym in your condo if just across the street is a sports complex complete with gym equipment? A beautiful green garden within the building? Compare that to the relaxing waterpark nearby. Community facilities might differ depending on the location so it wise to check them out first before deciding whether to grab or not to grab the offered condo facilities.
5. Set the price you can afford
Following this Singapore condo buying tips is the availability of your funds and resources. Condominiums are not cheap, depending on the layout and location, each unit can cost anywhere from 6-digit up to several millions. It is equally smart to take into consideration the additional expenses you might incur on your purchase such as parking fees, insurance, taxes, maintenance fees, and the likes. Remember that setting your price limit, and strictly following it, is extremely important when finding the right condo. If the unit you are eyeing don’t go along with your budget, move on to the next option.
6. Oblige the agent to show all available units
Some real estate agents will only show you the units they intend to sell. Bear in mind that this is a common practice on property selling because the agent’s commission depends on the type of unit they will market and eventually sell to the buyers. So how to avoid this devious tactic? Simply ask the agent to show you the “unit availability board” that will reveal all units that has been sold and those that are still available.
7. Utilize the power of internet
There are tons of Singapore condo tips out there but one must not forget the very dominant powers of modern technology. Unlike before, finding the right condo nowadays is ten times easier with the help of the internet. All you need to do is to input the correct keywords, browse available listings, then get the necessary details for your next home. To avoid misleading searches that could literally eat up much of your time, always include specific geo-targeted keywords on your searches such as region, city, district, or nearby establishments if necessary.
8. Visit the show room and remember essential details
Should you find the right condo for you and your family, don’t forget to visit the show room to have a clearer picture of what you will be expecting after the turn over. Take pictures of the show room most specially the minute details such as tiles, fittings, shelving, paint, door, windows, etc. Note that you will need this in the future for comparison purposes as well as to check your new home for possible defects. Although your actual condo unit would never be 100% identical as to what is shown in the flat preview, still it is a great idea to visit the show room.
9. Be wary of “En-bloc” potential
For those who would be purchasing resale condominium units, especially those erected on older buildings, be very wary about the en-bloc potential. En-bloc means that the current condo owners all together mutually agreed to sell the building to a developer who would later tear it down for future improvements. You might be tempered with the seller’s super low price as well as included furnishings but then as a new buyer, this would mean home hunting again in the next couple of months. It is recommended to check for any en-bloc notice from SERS when buying resale condominium units.
10. A real estate agent could be of great help
How to find the right condo might be challenging and indeed difficult but with the help of real estate agents, things could be a lot easier. Seeking the help of certified real estate agents has its own benefits; they are knowledgeable with the market, they are familiar with the location, they can help you with the required documents, they can recommend home loans with low interest rates, and many more. Remember that developers don’t directly sell condo units and to avoid any transaction hassle, getting a real estate agent is a smart choice.
Buying a condo is probably one of the biggest financial investments you could ever engage in your entire life so choosing the most suited property is without a doubt critical. If you are on the brink of finding your next flat, keeping in mind these Singapore condo tips would definitely bring utmost convenience on your part. Although buying a new condo is extremely challenging, consider these tips as a guide towards the home you and your family really wanted.