One of the pros is in terms of security and stability reasons. If you are renting an apartment or similar living spaces, your landlord will be in charge and s/he has the last say in almost everything concerning the apartment. There’s that possibility that you will be kicked out for no valid reason. Not only that, you will have to worry about the rent expenses from time to time and that does not contribute to one’s peace of mind. There are several expats who decided to buy a private property in Singapore just because their experiences with several landlords aren’t that great. It does happen, you know.

Another advantage of buying a certain landed property in Singapore is the fact that you can do anything about it. If you want to change the landscape, the curtains or the kitchen area, you can do so. If you want to renovate, add some furniture or fix something, you can do so without worrying what the landlord may say. You are free to do those things because the property is your own.

The satisfaction alone of owning a property is enough to be a huge benefit for some expatriates in the Lion City. Some folks just want to have their own landed property and that’s not a bad idea. There are those who even enjoy collecting several private properties in whatever country they are living in. But that’s only possible if you have sufficient funds or savings to spend.

Aside from those pros mentioned, one more benefit that buying a private property in Singapore provides is the fact that you can make it as an investment and make it as profitable as you can. There are some wise ways to invest on a landed property. You can rent it out to interested individuals seeking for a place to stay. How about turning that property into a restaurant or a club? You can get some nice business ideas online or from friends if you want to.

Don’t you know that owning a property in Singapore is defined as one of the 5 important “c”: career, car, condominium, credit card and club membership? That’s one useful explanation as to why many think that buying a private property is pretty much beneficial. It helps boost one’s lifestyle and status. For some people, lifestyle and status are huge deals on their lives. You can’t take that away from them if that’s what they really believe in.

Although certain benefits can be enjoyed when purchasing a property, there may be accompanying drawbacks. You have to learn and understand those as well. You know very well that everything in this world has its pros and cons. If you firmly believe that the advantages of buying a private property in Singapore weigh more than its drawbacks, then perhaps that’s going to be a good idea for you.

Due to jobs, kids, TV, the Internet, hobbies, and home and family responsibilities, the average married couple spends just four minutes a day alone together. (source: how to save your marriage)

You don’t have to be a real estate agent to learn some terminologies regarding property sales or what some prefer to call as “property sales jargons”. Read on to learn some of those important terms. These are some of the words, phrases, acronyms or labels that most Singapore property agents use:

“HDB”
This stands for Housing Development Board which is the authority in charge for the purchase of HDB property for those who are citizens of the island country on topic. You can know more about HDB by checking out sites or sources that serve as guides for expats.

“CMA”
A Comparative Market Analysis is a report on the value of a home compared to others offered on the current property sales market. You can also search for the details about this term online. Perhaps a property agent can provide a more detailed explanation.

“CSC”
This is also known as the Certificate of Statutory Completion. It is issued by the building authority that proves that the building involved has been completed in accordance with all regulations. It also denotes legal completion.

“TOP”
The issue of the Temporary Occupation Permit marks the date when owners or tenants are permitted to stay in a property.

“Freehold”
It is known as tenure in perpetuity.

“Leasehold”
This refers to a property held under a lease.

“Leasehold Value”
It is the value of a leasehold right

“Property Tenure”
This states the time the owner of a property has the legal right of use.

“Restricted Property”
It’s a property that you cannot purchase without prior approval from relevant authority.

“Non-restricted Property”
It’s a property where the purchase does not need any approval by the government.

“Fixtures”
It refers to a personal property that has become attached to the property involved so as to become a part of the property itself.

“Sold listings”
It lists homes and prices where a sale has been closed within the last six months.

Getting familiar with these terms will yield some benefits on your part. Like what they always say, knowledge is power. The next time you engage into property sales and stuff, it will no longer be hard for you to grasp and understand what the property agents are saying or talking about. This will somehow make your search for the perfect private property in Singapore that you are planning to buy easier and faster. It may not be a huge help for others but learning those pieces of information has definitely some significant contributions.

There are other terminologies involving property sales and the real estate industry as a whole that you can explore and gather online. It’s all up to you to take some time learning those things. Aside from property sales terms, you should also study some tips on how to get and buy the landed property in Singapore that’s right for you.

Continue Reading About the Benefits of Buying a Private Property in Singapore…

Due to jobs, kids, TV, the Internet, hobbies, and home and family responsibilities, the average married couple spends just four minutes a day alone together. (source: how to save your marriage)

If you have stayed in Singapore for quite some time, got a stable job and already have enough savings, you may opt to buy a private property there. A lot of expats who buy such landed properties have various reasons. Some do it for business purposes. Others just want to own some properties. Whatever your reasons are, if you can afford it and if you know you are doing the right thing, then go for it. It’s your life and it’s your cash anyway.

If you are all set in buying private property in Singapore, you should take into consideration the following significant factors:

Location. It should be within or close to the city wherein it won’t be hard for you to go to several places such as the mall, the grocery store, schools, your office building, hospitals, movie theaters, food chains, amusement parks and other public areas. For instance, if your school or place of work is somewhere in Districts 9 and 10 of the island country, you should consider buying a private property near those locations.

Type of landed property. You should get familiar with the different types of homes or private properties available in Singapore. There is the Bungalow/Detached type. There’s the Townhouse type. Others include Semi-Detached, Colonial House (Black & White), Shop house, Terrace House (Intermediate & Corner terrace) and Cluster housing (detached, terrace or townhouse style). Choose from those variations which one you like. Consider the varying prices as well.

Property prices and your financial budget. Try to learn about the latest property prices so that you will see if something fits your budget. If you want a high-end property, you will have to prepare a bigger budget. Of course, mid-tier and mass market properties have lesser values. You know you can’t just buy a property you can’t afford and especially if you don’t actually need that big of a private property.

There may be other factors that come into play but these three are always on top. Buying a private property for expats not only in Singapore but also in other counties is a no-joke task. You should take everything seriously considering the amount of money that you may have to dish out.

To keep yourself updated with the latest about real estate and private properties in Singapore, you can search online for sites that can help and guide you in finding those properties and making a decision. If you are able to find a trusted agent, that would be great. You can also ask someone you know (perhaps a friend, relative or colleague) if they have recommendations or if they can help you. The key here is to maximize your resources.

Continue Reading About Important Property Terms in Singapore…

Due to jobs, kids, TV, the Internet, hobbies, and home and family responsibilities, the average married couple spends just four minutes a day alone together. (source: how to save your marriage)

But there are notable drawbacks that you should keep in mind. You should know and recognize that owning a property has its risks. The goal here is to find out if you are willing to take those risks and decide if the advantages of getting hold of a private property for sale in Singapore weigh or value more than the accompanying cons.

One disadvantage if you purchase a particular landed property is the possibility of price depreciation. If it happens that the market will depreciate, the resale value of the said property may end up lower than your purchased price. That’s not something to look forward to. Come to think of it. The real estate industries in other countries have encountered some major problems due to recession and the so-called economic crisis for these past years. What you need to learn is if Singapore’s economy as well as its real estate industry is still intact. This is why you should make sure to keep yourself updated with everything that’s going on in the said industry.

Another major drawback is in terms of costs. Everyone knows that renting an apartment in Singapore or another living space similar to that is way cheaper than buying a private property. Not only that, when you own a property, you are the one responsible for stuff like the property’s mortgage and insurance. Don’t forget about the maintenance and repairs as well and the expenses that go along with those two. If you want some improvements or renovations, you will be the one to shoulder all the expenses. Of course, this is not what happens when you choose to live in an apartment for rent.

You should also think about the taxes that you may be required to pay. Don’t you know that you may be taxed with property gains tax in your home country when reselling that particular property you bought and when moving away from Singapore? Perhaps there are other kinds of applicable taxes that you should learn and worry about. It would be best if you research and learn about those possibilities just to be sure.

The cons mentioned have something to do with the financial aspect of the person or the buyer involved. When it comes to lifestyle, the disadvantage with buying a private property is if you and your family like to move around. Some folks are like that. Perhaps it’s the lifestyle that they want or it has something to do with their career. If that’s the case, then purchasing a property in Singapore may not be a good idea.

Continue Reading About the Factors When Buying Private Properties…

Due to jobs, kids, TV, the Internet, hobbies, and home and family responsibilities, the average married couple spends just four minutes a day alone together. (source: how to save your marriage)

You may be very well aware that land is scarce in Singapore so you can expect landed properties to be very expensive especially those with large plots and are near the center of the city. That’s why most folks who purchased such private properties have come up with some excellent investment ideas. Those ideas will help them make the property involved as profitable as they possibly can.

A good investment idea is turning the property into a restaurant or a diner. You don’t have to renovate or change a lot of things. In fact, you should maintain its homey look and feel because that will make the restaurant unique and a bit edgy. This makes real sense if the landed property involved is located at the heart of the city wherein a lot of busy people can become your potential customers.

Another nice idea to invest on the landed property that you bought in Singapore is turning it into a social haven – a place wherein people can hang out, drink and have some snacks. You can turn that private property of yours into a café, bar or club and with the right management, operations, marketing and manpower, you will be able to attract customers and gain some nice profits in no time. This is such a wonderful idea and you should think about it carefully.

How about turning the said property into a place wherein seminars or exhibits can be held? Figure out if it’s good for business seminars, conferences, private parties, photo exhibits, art exhibits and other types of gatherings or events. Several property owners have ventured and tried their luck using this investment idea. It could work well for you as long as you know what you are doing and if you are really determined to make it work. It isn’t such a bad idea, you know.

Perhaps you can just put up the said landed property for rent. There may be individuals you can fully trust (such as family, friends, colleagues) who are interested to make it their own home. You can still profit from their rental payment and other fees that may be included. That is still one effective way to invest on that private property of yours.

You should know that there are pros and cons in buying a landed property in Singapore. On one hand, you will be able to do anything you want to do with the property because it’s your own. You also don’t have to worry about landlords and restrictions. On the other hand, there are some financial risks involved like taxes, potential price depreciation of the property and other expenses. But if you think the benefits outweigh the risks; then you should go buy that property and try your best to turn it into an investment.

Continue Reading About the Drawbacks of Purchasing a Private Property…

Due to jobs, kids, TV, the Internet, hobbies, and home and family responsibilities, the average married couple spends just four minutes a day alone together. (source: how to save your marriage)