Buying HDB (Housing Development Board) house in Singapore is a walk on the cake. Everything is in open and very clear. This includes the procedure to find, renovate, apply for permissions etc etc
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However, when buying an apartment in a private condo, or EC a few points must be taken note of. I am writing this out of my experience and observation. If you think of or get a few more, add them to the list.
1. You have to first check your eligibility to buy. Though Singapore government is open to foreign investment and inviting talent, it is also very cautious about fulfilling its primary obligation towards its citizens by increasing affordability of living conditions. Part of this is imposing strict guidelines to buy and sell properties.
2. Of course you might have already worked out on the most important factor - Vitamin M - Money. How much cash, CPF, bank loan,
Property tax,
Stamp duty etc etc
3. Next comes the location. Where do you want your home to be? away from crowd? or middle of the buzz? It completely depends on your taste and purpose. To get some idea on facilities, pricing, etc etc check sites like -
Property Guru, ST Property or any other you find through your search engine.
4. You have done your homework on location and finance and found an agent to help you. Great! Now you find yourself standing in the middle of the condo, beside the pool and admiring the view! Superb! Now start asking these questions:-
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How many times a week will I be using the pool?
Is there a Gym? how much workout can I do in this?
Other facilities - Karaoke, Barbeque etc etc, how many times a month really me or my family use?
etc etc
You are asking all these questions to justify the monthly maintenance. If you and your family (if you have any) will be using all the facilities once a month or in a quarter is fair enough. If you don't swim, don't do barbeque, hardly use gym once in a week, the money you are paying for maintenance is for others to enjoy and definitely a waste or unnecessary expenditure in your account.
If you are not so keen on the facilities and can live without a swimming pool in your compound which you may or may never use, a gym where you don't know what to do, then my suggestion is to go for those condos where you don't have
all these unnecessary bits occupying space and costly to maintain. Singapore government encourages healthy living among all its residents. Unlike many other Asian countries, the government didn't stop at 'promoting' health but moved forward to build sports complexes and public swimming pools. You can opt to go to these places and pay per use instead of incurring a fixed expenditure every month unnecessarily.
5. Fine, your kids want to learn swimming, you and your wife intend to lose some weight or get into shape. OK, this is the place you want to live. Next, approach the owner, if you can, or ask the agent to get a copy of the 'House Rules' (or some other similar title) to understand the dos and don'ts in and around the condo. The rules will give you a fair idea of living in the gated community. Though all the condos are bounded by the common rules stated by the
Building Maintenance and Strata Management Act, the condo Management Council, formed by the residents can still bring out guidelines for everyday maintenance.
6. By rule, the owner must pass a copy of house rules to the buyer. However, if the owner / agent says don't have a copy of the rules book, never mind, just walk up to the Management Office and introduce yourself as prospect buyer of one of the units and ask for a copy. If the Manager hesitates to give one, be polite to borrow one to read there. If you like the place and investing a fair share of your savings in to the unit, trust me, you will find the time to read the rules which will bind you down for a long time to come.
Rules set out conditions of living in the condo. Ex: Pets not allowed or birds not allowed as pets, children below 12 cannot roam around the condo without adults, visitors with vehicles cannot stay beyond 11 pm or overnight visitor car parking is not allowed, installation of any religious artifact outside the door or window visible to others is not permitted, etc etc. It can be anything. However, by reading and understanding the guidelines, you will not let some guard (usually they are the ones to do this sort of job after office hours as the Management Office works only during standard 'office' hours) tell you later that you are not following rules.
7. Now you read the house rules and can imagine your life in the surroundings. Decide whether you are in or out of the deal. Or if you see something missing in the rules book, seek clarity. Know your rights and obligations before committing.
By pointing out these small details, I am not discouraging you from buying private property. You deserve to live in a comfortable and affordable place of your dreams. I am only asking you to include my personal few points to your check list, if you can.
Good luck in finding your dream home!!
