Tips to select an Apartment in River Valley, Singapore

Buying a home is a responsible and joyful event for every person. This is a great opportunity to acquire “your own fortress”, to start a new life in a comfortable environment. Let’s consider how to properly organize the whole process in order to avoid possible troubles.

Algorithm of actions:

  • Find the best option and examine;
  • Study title and technical documentation;
  • Verify the identity or documents of the seller;
  • Make an advance payment under the contract;
  • Prepare documents;
  • Draw up a sales contract;
  • Registering as a new owner with a government agency.

Before starting your search, highlight the basic requirements. Choose an area, how many rooms you need, it will be a new building or a secondary building. Make a list of options to help save time in the search process.

The criteria for choosing an apartment can be summarized as follows:

  • Price and available budget;
  • Number of rooms, area, floor;
  • Communications and engineering networks;
  • District of the city;
  • Infrastructure;
  • Neighbours;
  • Risks;
  • Renovation, the possibility of redevelopment;
  • The possibility of a mortgage or instalment plan;
  • Property rights, obtaining a residence permit;
  • Whether the help of realtors is needed or the purchase will be carried out without intermediaries.

Buying in a new building

Buyers in new homes are attracted by large footage, modern materials, improved construction technologies, and a long service life. The advantage of new buildings is also such facts as the ability to buy on a mortgage or instalment plan, to get a city residence permit.

If you have chosen a new building, then after examining the living space, familiarize yourself with the developer and his documents. You can find property review of Canninghill Piers on the Singapore Finest website.

Pay attention to the conditions under which the deal is made:

  • Deadlines for completion of construction and transfer of the object, is the cost per square meter subject to change, terms of termination of the contract, penalties.
  • It should be noted the disadvantages of new buildings. In most cases, they are sold only with a rough finish. The owner will need to invest in renovations. At the same time, you can make a comfortable layout yourself. Always read property review of Canninghill Piers to get an idea about the facilities provided by top three developers of Singapore.

Buying an apartment on the secondary market

Unlike new buildings, they have a “definite past”, which you should definitely familiarize yourself with. After inspecting the home, you should check its legal cleanliness and other important documents. Note:

  • How this apartment came into ownership (sale and purchase agreement, donation, inheritance, privatization);
  • Authenticity of documents;
  • Technical passport (is there any illegal redevelopment);
  • Consent to the sale of all possible owners (the list can be downloaded from the link after the text);
  • Encumbrances, arrests
  • Are there any debts.

Real estate registration

If you made your choice, read the documents and everything suits you, then you can go to the notary to complete the transaction. You need to have a passport, a receipt for payment of the state duty, the necessary list of documents provided by the seller to complete the transaction.

How to buy affordable apartment?

There are some general guidelines that you can follow to gain value:

  • Bargaining is always possible, what its result will be depends on the skills and perseverance of the buyer;
  • The smaller the area, the lower the price;
  • On the outskirts is cheaper than in the city centre;
  • Apartments above the 4th floor are more difficult to sell, therefore they are cheaper;
  • Housing in a brick house is more expensive than in panel houses.

Before buying, make up the selection criteria, study the basic recommendations for purchasing your own real estate. Do not set strict requirements, otherwise you can drag out the search indefinitely. If you competently approach the organization of the process, then buying an apartment will be a pleasant undertaking and will provide you with your own housing.