Things to know before buying home

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Buying a house is not an easy matter but if we know about the right turns and prepare ourselves with the proper knowledge before making a buying decision, it is actually not that difficult.  For most people, to buy new condo in singapore is also the biggest investment in their life and it is unfortunate if this biggest investment brings losses due to wrong decisions.

Therefore, it is better if every individual or prospective buyer who wants or has made the decision to buy a house to first consider several things before proceeding with the decision to buy their dream home. Following are some tips that can be used as a guide in making purchases of multi-storey residences such as apartments or condominiums. Unlike other homes, multi-storey homes such as apartments or condominiums have characteristics that prospective buyers must consider before making a decision.

buy new condo in singapore

 Initial Inventory Before Purchase.

There are several things that prospective buyers need to do before purchasing so that purchasing matters are not ‘stuck’ and only cost time and money.  Among them are:-

  1. Deposit payment capability – although some banks/financiers provide financing up to 100%, you should make sure you have a deposit of at least 10% of the price of the house you want to buy. For example, if the price is around 9000000 rupees at least you must be able to pay 900000 rupees as a down payment.
  2. Eligibility to Buy – This should be the first condition you need to do. If you are certain that your existing loan record is not good, that is, you have a payment record of 2 months or more, then you should update your payment in advance and wait for another 6 months before making a payment. This is usually rarely done by prospective buyers and someone will only know if it is notified by the bank that their application has been rejected because they have a bad financial record.

These are very few points but important points to be considered before you buy a condominium for yourself.

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