ULTIMATE GUIDE TO PURCHASE A PROPERTY IN SINGAPORE

1. ULTIMATEGUIDE TO PURCHASE A PROPERTY IN SINGAPORE www.sgluxurycondo.com

2. ABOUTUS SGLuxuryCondoisarealestateconsultancyagencyFoundedbyJamesLimwhoisaTOPagentinSingaporeLuxuryReal Estate. Weprovideconsultancyservicesandbespokesolutionstoyourbuying,selling,investingandrentingofSingaporeluxury condominiums. We manage personal financial advisory services and property portfolios connecting you to the best propertiesinSingapore.

3. INTRODUCTION Buyingpropertyisnotlikeasmalltaskinyourlife.Itis something bigthatcan changeyourlifetremendously.Likeother people, wemakedreamtobuy ourownhomeorproperty.Dreamingisagoodthing,butwhatifyourideacomestrue?Willyoutakeanysmallridiculoussteptoloseyourdream?No.you areNOT. You are even able to lose your car, mobile, bike, or such stuff, but it is not bare-able to lose in the financial figure. Sometimes, we make a single mistake thatmakes us notabletoreturnourwealth.Ofcourse,notlegally.Thiscouldmakeyourlife worseafterthat.Therearesomanythingsthatwecanbuy andsellrandomlyandrepeatedly,butthepropertyisnotlikegoingshoppingtobuycandyandcomeback. Yourmoneyisyour asset,andlikeaveragepeople,youalmostgaveyourselfhalfofyour lifetoearnit.Youdonotwanttotakeanyrisktowasteyour moneyin just a singlemomentofyourlifebecauseyouknowthatyouronebigdealcanmakeyoumakeyourlifefromheaventohell. Buying and selling property is a standard business in Singapore. Average people in this Singapore usually buy property once in their life. The prices of properties in Singapore always talking to the sky. Because Singapore is a kind of hub of expensive property. For this type of business dealing, you must havetoneedaconsultancyofsomeonewhoisanexpertinthisfield. Nevertheless, given that private property speaks to such a sizeable interest in your portfolio, you will unquestionably need to get your work done heretofore. Therefore, if you are looking to buy property in Singapore or you need any consultancy to buy any property, then I would like to congratulate you because youlandedontheexactwebsite. That isthereasonfor helping youdeterminewhetheryourpayissufficienttopurchaseanapartmentsuitetoexperiencethedownpaymentrequired,I wouldliketoguideyouonhowtobuyyourdesiredpropertyinSingapore. Beforewediscussthecorestep of howtobuypropertyinSingapore,youneedtolookattwo basic questionsthatwillhelpyoumoretomakesome understandingbetweennewandoldpropertyandcondominiums.

4. WHATARERESALEPROPERTY ANDCONDOMINIUMS? Resale propertyorcondominiumisa private unit, home, or land that has already in someone's ownership and the owner of that property is willing to sell it in the market open market legally. Reselling a condominium is usually more than 50 years of freehold occupancy with manyfacilities like aswimmingpool,sports,orgym.

5. NEWVERSUSRESALE CONDOMINIUM Buyingahomeflatorcondousuallyfallsintotwoparts. Purchasingaunitwithcompletedmoderndevelopment.(Usually,thiskind ofgroup mightbeunsold bydirectlyfromthedeveloperorbuilder). Purchasingaunitwithincompletedevelopment(Suchasanewlyconstructedlaunchthatisdirectly boughtfromthedeveloperorbuilder). Thereisadifferenttypesoffactsthatmakeyoudrillintoeachother. Supposeyouare willing towaitformorethan3to4yearsforyourhome,orcondominiumtobe constructed,oryouwanttobuyaunitthatalreadyhasbeenbuilt. Theprimarymotivetodiscussthisexampleisthepaymentscheduleforbothtypesofpurchasing.These aretypicallydifferentfromeachother.

6. ADVANTAGESOFRESALEPROPERTY Thetwomostsignificantbenefitofbuyingaresalehomeorpropertyinthemarketisyoudonot needtowaitforthepropertytobeconstructedandyougettogiveanofferoftheproperty,aka roomfornegotiation.Forexample,investorsmaybuyhomes,orcondominiumswhenthemarket was at its peak. However, after some time, these investors are not able to hold those properties andsellatscrapingrates.Therefore,thiscanbeasignificantadvantagetobuyaresaleproperty from the market. Many buyers usually offer to discount when they are able to sell their apartmentsasifabuyerboughtapropertyfor$2000persquarefoot3yearsago.Nowbuilders selling the same in the same area at $3000 per square foot. With this excellent opportunity, the sellerwillsellthatpropertyata$500concessionascomparedtobuilderrates.Thiswillmakehim prior to developers for buyers. Ready to move in the choice is readily available in the resale marketatanytime. WHAT ARE THE ADVANTAGES AND DISADVANTAGES OF PURCHASINGRESALE PROPERTY? ADVANTAGESOFRESALEPROPERTY Thetwodisadvantagesofaresalepropertyare: Thereisnowarranty.Wecallitwhatyouseeiswhatyouget.Afterthepurchase,youcannotgo after the former owner for damages, leakages or problems with the unit. One of the biggest problems and disagreements that are always encountered are water damage, mould, air- conditioner issues and condo management problems. These can sometimes be issues that ex- owners know and want to avoid, hence selling the property cheap or even deciding to sell the propertyfast. Itisstatisticallyproventhatresaleproperties,duetotheirlease,althoughhaveacheaperprice overthelongtermwillearnlessprofitthannewlydevelopedproperties.Thisisduetothefactof Singapore has a Seller Stamp Duty fee (SSD), hence minimum holding period before selling a property is 3 years. Moreover, people like brand-new properties and hence people are willing to pay more for a brand-new constructed property than a resale property which leads to higher demand. Meanwhile, many people usually prefer to purchase property, units, and homes from the primary market, and the resale market is the second choice they mostly explore after.Whereastheconstruction-relevant issues, risks in resale homes are less to our financialburdenbutsomeother,risk factorsaremoresignificantthanbenefits. Herearesomefundamentalstepsthatyouneedtotakeinsequencetopurchaseaproperty anywhereinSingapore.

7. CONTACTUS PHONE +6591385008 WEBSITE www.sgluxurycondo.com EMAIL enquiry@sgluxurycondo.com ADDRESS Singapore

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