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Considering factors when buying a property |
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Planning to get a property? The following pointers may be useful:
Objectives. Determine your reason in buying a property. Is it for investment or for a home? For investment reasons, you need to be clear as the returns will be different for different types of property.
Location. Decide beforehand on a few likely places that you’d like to live in. Take into account things like the distance to work, schools, and amenities/facilities around the area.
Type & Size of Property. Condominium, apartment, landed, etc. How many bedrooms/bathrooms do you need? Have you plan for the likely numbers of family members in the near future?
Budget. Work out your finances first. Do not overstretch due to inadequate planning.
Tenure. Freehold vs leasehold.
Additional Factors for Tenants:
Duration of Lease. Generally landlords prefer the lease period to be at least 12 months or more.
Level of Furnishing. Do you need the residence to be fully furnished, partially furnished or unfurnished?
Budget. Bear in mind other monthly outlays that come with renting a home such as utilities and telephone charges.
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