Buying a property in Singapore 101

More than 90% of Singaporeans own their homes. This makes it a no surprise to find out that property-related discussions and questions are vital topics in forums. Property ownership in Singapore, just like in any other country, comes at a high cost. This is Singapore is much tougher considering the rising population and the limited space for expansion. If you are planning to buy a property in Singapore, it therefore imperative that you understand the basic before committing to a property purchase.

For beginners, there is a lot to learn about you need to minimize the risk that comes with the ownership of properties. However, we have compiled fundamental information that all prospective homeowners should arm themselves with. Let us take a look.
Are you buying the property for homestay or is it an investment?
The first and crucial question to ask yourself is whether or not your property is for your family stay, or is it an investment plan. The reason why this question matter s to determine the size of property you need, the location among other factors. Your dream home is not the same as an investment property. The same goes for an investment property which you may find is not suitable to live in. The intention behind the property purchase should be a pointer to the kind of house you need.
How much money do you need for a down payment?
Determining the purpose of your home shouldn’t be a daunting task. After that, the next thing you need to do is know the down payment required to purchase the property in Singapore. Note that the amount you can afford for your downpayment determines your budget. How much you can present as downpayment is, in turn, determines not only by your financial muscles but where you are taking the loan, HDB loan or bank loan.

Finalizing property loan

For you to completely own a property, you need to fund the remainder of the cost after paying the down payment. For those purchasing an HDB flat, then you can choose to take an HDB flat. If you are buying private property in Singapore, then you need to take a bank loan.
Another cost of owning a property in Singapore
Regardless of whether the property is private or HDB, there is another associated cost of owning a property in Singapore. These costs are unavoidable, so you need to consider them just like in paying downpayment and premiums. Some of these costs include a resale levy, agent cost, renovation cost, insurance cost, etc.

Applying for HDB grant

If you are a Singaporean, then you are eligible for HDB grants. There are different housing grants available. They include additional CPF grant (up to $40,000), exclusive CPF Housing grant (up to $40,000), proximity housing grant (up to $20,000) and CPF housing grant. These grants can substantially reduce the cost of owning a property more so to first-time homeowners. Therefore, it crucial to understand what all these grants are and how they can help decide the kind of property that you should go for. …

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Rivercove Residences: A New Executive Condominium at Anchorvale Lane

Rivercove Residences EC (Anchorvale Lane) is one of the biggest and combines venture of Sunway Development and Hoi Hup Realty. Both of these are well reputed and biggest names in the field of construction. These are collectively doing developmental business for decades and there are now going to present you one of the biggest and most luxurious executive condominiums in the District 19 Sengkang. Both of them have combined their resources to place the highest bid at the tender for Rivercove Residences EC leaving behind 15 others.

Hoi Hup Realty is committed to having innovative and functional design since 1983. It is serving the country for 34 years and has received numerous awards including Best Buildable Design in the year 2007 for their work since today. Sunway Development and Hoi Hup Realty have developed townships like Lake Vista at Yuan Ching, City View at Boon Keng, The Peak at Toa Payoh and much more.

On the combined ventures both the companies have strongly proven that they are quite enough to tackle and succeed at even most ambitious tasks. The Peak, an apartment with about 1,200 units is the best example of it. It is considered that Rivercove Residences EC is going to be its best project. It is considered that Rivercove Residences EC floor plan is considered to be somewhat like their other joint projects.

Best Nearby Schools: Rivercove Residences EC is going to have top quality education facilities just at a distance of few steps to it. Now you don’t have any limitations to get your child enrolled in one primary school only. You can easily go for various best options for school some of these are: Anchor Green Primary School, Nan Chiau Primary School, and Springdale Primary School. Not only primary schools; this wonderful site also includes one of the most reputed secondary schools in Singapore too i.e. Nan Chiau High School. It is one of the oldest schools of Singapore which was founded in the year 1947. It is a leading information and technology school in Singapore and best known to pass out top most governmental officials of the Singapore Government.

Great Entertainment: Rivercove Residences is located at a perfect place which is a perfect mixture of entertainment for shopaholics, athletes, and foodies and includes various shops, and restaurant. It just not enough if we go with the government master plan it is one of the most developing areas where more shops, more restaurants, more parks and much more are going to pop up in future too. This wonderful site includes one of the largest attractions of the city like Sengkang Sports and Recreation center, community center, swimming pools, badminton courts, soccer fields and much more. It also includes shopping malls like Compass One and Seletar Mall where you can easily meet all of your needs.

Medical Help: It is the best project site which also includes various healthcare facilities also. Sengkang General and Community Hospitals, Sengkang Polyclinic at Sengkang Community Club, and Thong Chai Medical Institution are at the distance of just a few minutes from this wonderful executive condominium site.…

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3 Questions you must ask before you can decide which Real Estate Professional to Hire:

When you are thinking about selling your home or buying a house, you might consider hiring a professional in the real estate market.  You will want someone that is knowledgeable in their field of practice and also the best at what they do.

Check the online real estate websites for the areas that you are interested in buying a home or where the home you want to sell is situated.  On the website, there should be a review page where you can look at what clients say about the company’s service and personnel.  Make a shortlist of the persons you think to interview, and then also ask family and friends if they have someone that they can recommend.

3 Questions that should ask a Real Estate Professional:

  1. What kind of education do you have and what type of experience can you claim?

Experience is not always counted in the years that you have been in business but also in what type of properties you can handle, how many of the homes had been bought or sold where you were accountable, and how many in the past year.  You can find out about other skills or expertise they might have by asking what type of houses they mostly work with, brand new or older.  The same goes for selling and buying a house.

Educational requirements must be met by all professionals and is ongoing.  You learn throughout to combat all the changes in a very changeable market.  Additional skills can be beneficial to help in buying or selling a property.

  1. Do you have other clients you work with at the moment? How many other clients?

It should not really be a concern and there is no wrong or right answer to this question.  It will only give you a good idea of how much time there might be available for your requirements.  Too many clients can be good referral but also minimise the time available for each client.

  1. What type of Services is all included?

It is important to know what you can expect and you need to discuss this beforehand.  When selling a house, will an open house event be held?  Will there be photos taken by a professional?  What type of advertising is going to be used?  You must discuss your particular needs and your expectations with your representative to find out if they will be able to provide the services.

There are many more questions and answers you can prepare to ask, but, the most important will always be if you and this person can understand each other, work out any problems there might be, and negotiate a plan that will work for both parties.…

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Things to consider when you choose a Real Estate Agency that will fit your Requirements and work as a team together with yourself

Selling or buying, and even renting property is a big decision and can involve a lot of money.  Deciding on which area you want to do the buying or renting can be difficult, and selling your home requires just as many decisions.  You can save yourself a lot of trouble and worries if you can find a Real Estate Agency that will work together with you as a team.

Things to consider when you are deciding on which Real Estate Agency you want to employ:

Find a Real Estate Agency that will take you on a tour to explore the neighbourhoods you are interested in to buy your new house. You should do a drive-through in the morning, in the afternoon and at night.  Weekends can be different than weekdays, so your tour should include both, as well.  You will be able to experience the neighbourhood on all levels when you do this.

Always keep in mind that a Realtor cannot help you make a decision or discuss the rightness or wrongness of an area with you.  They are not allowed to give any indication of the quality of the schools, the economy, the municipal wellness, etc.  What they can do is give you relevant information about crime statistics and school ratings.

Check references and credentials of the Realtor that you want to hire.  Find how many listings the realtor has at that moment, and how long it takes to sell a house.

A good Realtor will be forthcoming with the information that they are allowed to share with their clients.  That will also include the negatives, for instance, the house will need a paint job or the railway tracks are near and can cause a noise problem.

Always do your research well to find your teammate Realtor that will help you to make the right decisions on where to buy your home.

Choose a Real Estate Realtor that is known for their professionalism, but also for their personal touch.  Also look out for those that have a good reputation in getting their deals done, without overpricing.…

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7 Skills that will make you an Excellent Real Estate Broker:

A Real Estate Broker operates a real estate office.  They also oversee real estate transactions.  Other duties will include the selling and rent out of properties and the arranging of mortgage loans for their clients.

5 Important skills that a Real Estate Broker should have:

  1. Speak well; you should be well spoken to be able to convey information correctly and effectively.
  2. Listening attentively; your full attention should be on what a person is saying to you. You should take the time to understand what is being said and what is being meant.  The two might not be the same.  Asks questions if need be, but do not interrupt the conversation when not appropriate.
  3. Be able to Negotiate; trying to reconcile differences and bringing together parties that are in conflict.
  4. Be good at Persuasion; to be able to persuade someone to change their behaviour or their minds when it’s set on a wrong idea.
  5. Perceptiveness; being socially aware of the reactions of others, and why they might be reacting as they do, can be very helpful when you need to understand how to best negotiate a situation.
  6. Managing Personnel Resources; you should be able to motivate others, to direct people as they do their work, to develop persons to perform their best, and you should also be able to identify the best person for a certain job.
  7. Complex Problem solving; you must be able to identify a complex problem, review all the related facts and information, and then evaluate and develop options that can be implemented towards solving the problem.

A few more skills that will be well learned, are, the coordination of actions, time management of yourself and others, quality control on products, processes, and services and to evaluate the quality of all performances.

A Real Estate Broker should be service orientated and always look out for the ways that you can help people.…

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