Looking to buy your first home? There are plenty of factors to consider when buying a new condo in Singapore, from the price of the condo itself to neighbourhood concerns and potential for resale value. If you’re looking to buy a new condo for sale in Singapore, be sure to consider these tips before taking the plunge:
1. Decide On Your Budget
The very first step is to decide on a budget. Before you start looking, decide how much you are willing to spend on your condo and stick to it. That way, you only focus on condos that match your budget. If you try and look at condos outside your price range, it’s easy to get discouraged when comparing the home’s actual value with the amount of money you have available.
2. Find A Property Agent You Trust
Once you’ve decided on a price range for your new condo in Singapore, it’s time to find an agent or broker that can help you out with the rest of the process. It’s important to work with someone who has experience selling condos in your price range and can help you find the right condo for your needs. It’s also best to find someone who uses the most up-to-date search tools that can show you comparable condos in your price range.
3. Visit The Condo Before You Buy It
Before you start looking at more than just photos of the condo, take a look at a physical copy of the home yourself. Take note of the location and size of the condo before visiting it in person, so that you’re prepared when you actually walk through it.
4. Consider Potential Resale Value
As you’re looking for the perfect condo for your needs, it’s also important to think about how much you can expect the condo to sell for down the road. If a condo isn’t in an area with a lot of growth potential, it will be harder to sell down the road. That could mean that you have less cash to put towards buying another home if you want or need to move again later on.
5. Consider Neighbourhood Issues
As you settle into your new neighbourhood, look around at schools and other public facilities before you sign on the dotted line. Schools, transit systems, recreational areas, shopping and other issues all play a role in your overall living experience, and all can be important factors in deciding whether a location is right for you.
6. Look At Condos In A Range Of Price Ranges
Even if you’ve found the perfect condo for your needs, there’s no reason not to be flexible. By looking at condos in a range of price ranges, you can be sure that you’re getting the best deal possible. By looking at a number of condos within your price range, you can see how much better deals on similar homes are just slightly higher or lower than your preferred budget.
7. Consider The Location
While it’s important to find the right condo for your needs, you also want to make sure that you’re not buying in a location that could end up holding you back. If a condo is too far away from public transportation and areas with strong schools or shopping centres, it will be harder to sell down the road. On the other hand, if the location is too ideal, it might not be worth selling down the road. Looking at condos in a range of price ranges will give you an idea of how much better deals are just slightly higher or lower than what you’re looking for.
There are a number of factors to consider when looking for a condo in Singapore, but the bottom line is that if you’re ready to buy a new condo, do not hesitate to look at condos that are slightly below your budget. There are plenty of good deals out there, and with the right help from an agent or broker, you can find one that you’ll love and will be willing to sell down the road.
