Buying a condo in Singapore can take an enormous chunk of your monthly income if you aren’t careful about finding the proper one.
Regardless of your budget, there are actions you'll take when hunting for high end condo Singapore to save lots of your money.
Take some time
This first tip makes all the remainder easier to implement. Whether you're changing apartments or buying a luxury condo in Singapore, you increase the probability of paying more if you don’t allow yourself enough time to seek out the proper home.
If you've got the prospect, give yourself a minimum of a month for apartment hunting – i.e. researching, inquiring, comparing, viewing, etc. Ideally, you've got the chance first to shortlist condos that match your requirements and elegance before the “pressure” time once you got to view available premium apartments in Singapore and make a choice.
Get the important Data on Rental Prices
Knowledge is power! So even during a “tenant’s market”, if you enter a negotiation without knowledge of the market prices, you'll pay an excessive amount if the opposite parties know quite what you are doing. And you'll bet that the majority of landlords are following the market prices.
Here are 3 ways we don’t recommend you rely on:
Anecdotes from acquaintances: Just hearing what a couple of people are paying here and it's not enough for you to understand the market.
Agent advice: You must look for the best real estate agent in Singapore, but you shouldn’t believe that alone. It’s your money.
Browsing classifieds/listings: You’ll expect that the majority of landlords add 10-20% to their minimum price for “negotiation.”
But also, some agents may sneakily advertise other apartments for unrealistically low prices simply as how to undertake to seek out clients whom they will then show other apartments too.
Look for Poor Quality Listings
Time for our first non-obvious advice – if you’re looking to save lots of money while looking for a luxury condominium Singapore, then skip past the listings that have great photos and outline and appearance for those that don’t.
Nobody has time to travel through the thousands of advertisements for Singapore luxury condos themselves, so people naturally will specialize in those with the nicest photos first. But if you’re one of those people then having competition for that apartment means the owner is a smaller amount likely to barter.
That apartment listed down the page with just one photo could also be nicer face to face than the one at the highest with many photos too – i.e. the number of photos doesn’t necessarily relate to the standard of the apartment!
Of course, you don’t want to waste some time visiting apartments that aren’t well maintained, so you almost certainly want to push the agent for more details/photos once you inquire and before you inspect.
While you are at it, ask the real estate agent near me to tell you about the latest premium luxury condo Singapore prices and where the resale value will likely increase in the next 5 years.
Don’t Choose a Condo with unnecessary facilities
Most luxury condos in Singapore are downright luxurious – more sort of a resort than a residential complex. Nice and massive pools, tennis courts, all-around gyms, golf practice yard, reflexology paths, jogging tracks, etc. It’s easy to ascertain these and fall crazy, but question whether you truly need all those, or would you even use them?
Even though you would possibly use the jogging track for regular exercises, paying for the golf yard, when you have no intentions to use it, may not be a very good investment.