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Copen Grand - luxury executive condo project with BCA Greenmark Platinum Super Low Energy Award in Tengah
Heartiest congrats to all buyers who are able to get their hands on a unit at Copen Grand Executive Condominium project launched last month on 22 Oct 2022.
Copen Grand, the first executive condominium (EC) at the upcoming Tengah Town is fully sold today. Eligible buyers today (Saturday - 26 November 2022) snapped up all the remaining units at this beautiful executive condo project, which had an average launch price of around S$1,300 per square foot (psf), with an additional 3 per cent applied to units sold under the deferred payment scheme.
Under the deferred payment scheme, buyers make instalment payments only after getting their Temporary Occupation Permit (TOP).
Executive condos have traditionally been very popular with young home buyers as they are subsidised by the government in pricing, usually endowed with full condo facilities and are fully privatized 10 years after TOP therefore offering EC owners a possible higher potential upside.
"The only other executive condo that could rival this amazing performance was the 531 unit - Hundred Palms Residences EC launched in July 2017 with the selling price starting from $7xxk onwards developed by reputable developer Hoi Hup who won the bid for the land parcel at about $678 per square foot per plot ratio (psf ppr)" said real estate analyst, Kiwi Lim. Hundred Palms Residences EC was sold within one day when launched.
Copen Grand, the first executive condominium (EC) at the upcoming Tengah Town is fully sold today. Eligible buyers today (Saturday - 26 November 2022) snapped up all the remaining units at this beautiful executive condo project, which had an average launch price of around S$1,300 per square foot (psf), with an additional 3 per cent applied to units sold under the deferred payment scheme.
Under the deferred payment scheme, buyers make instalment payments only after getting their Temporary Occupation Permit (TOP).
Executive condos have traditionally been very popular with young home buyers as they are subsidised by the government in pricing, usually endowed with full condo facilities and are fully privatized 10 years after TOP therefore offering EC owners a possible higher potential upside.
"The only other executive condo that could rival this amazing performance was the 531 unit - Hundred Palms Residences EC launched in July 2017 with the selling price starting from $7xxk onwards developed by reputable developer Hoi Hup who won the bid for the land parcel at about $678 per square foot per plot ratio (psf ppr)" said real estate analyst, Kiwi Lim. Hundred Palms Residences EC was sold within one day when launched.
Copen Grand is the first luxury executive condo project with BCA Greenmark Platinum Super Low Energy Award that is also the first executive condo project nestled in the heart of Tengah Town, Singapore’s first future-forward smart and sustainable town. With BCA’s recognition for environmentally friendly buildings, this is where eco-consciousness meets discerning design sensibilities, culminating in green homes that would make most go green with envy.
Green features. Smart technologies. A pulsating symphony of sights and sounds. Tengah Town promises all this, as well as other innovative breakthroughs including a centralised cooling system and pneumatic waste disposal systems. Earmarked as the hub for 42,000 new homes within the next two decades, the blueprint has been set in place to create the west side's latest urban sanctuary, with Singapore's first car-free HDB Town Centre featuring AI-enabled system.
At the heart of Tengah Town, residents of Copen Grand can enjoy unrivalled accessibility to not one but three MRT stations on the upcoming Jurong Region Line and access to a bus interchange. Just a short walk will take you into Tengah Town Centre where a wealth of shopping, dining and entertainment options complement a sports centre, community club and polyclinic. Residents of Copen Grand can also look forward to enjoying the nearby Central Park and Forest Corridor that brings some tranquillity each day – all in the name of truly becoming one at home with nature.
Green features. Smart technologies. A pulsating symphony of sights and sounds. Tengah Town promises all this, as well as other innovative breakthroughs including a centralised cooling system and pneumatic waste disposal systems. Earmarked as the hub for 42,000 new homes within the next two decades, the blueprint has been set in place to create the west side's latest urban sanctuary, with Singapore's first car-free HDB Town Centre featuring AI-enabled system.
At the heart of Tengah Town, residents of Copen Grand can enjoy unrivalled accessibility to not one but three MRT stations on the upcoming Jurong Region Line and access to a bus interchange. Just a short walk will take you into Tengah Town Centre where a wealth of shopping, dining and entertainment options complement a sports centre, community club and polyclinic. Residents of Copen Grand can also look forward to enjoying the nearby Central Park and Forest Corridor that brings some tranquillity each day – all in the name of truly becoming one at home with nature.
Copen Grand, the first executive condominium (EC) at the upcoming Tengah Town is fully sold today
Potential executive condo buyers who missed out on Copen Grand EC can consider North Gaia EC which still has avail 3 bedrooms, 4 bedrooms and last 4 units of 5 bedrooms. They can also look forward to the upcoming Tenet executive condo - the latest upcoming Tampines executive condominium project located in Tampines North next to Tampines Drive 62 and within mins walk to the upcoming Tampines North MRT Station (Cross Island Line) and Tampines Eco Garden.
Real estate professional Kiwi Lim believe that this amazing achievement is not only due to huge pent up demand and short supply of available executive condo units in the Singapore property market. The attraction of Tengah Town - Singapore’s first smart and sustainable town as well as its proximity to Jurong Innovation District - an advanced manufacturing hub also Singapore’s largest mixed use business district outside the city centre.
Real estate professional Kiwi Lim believe that this amazing achievement is not only due to huge pent up demand and short supply of available executive condo units in the Singapore property market. The attraction of Tengah Town - Singapore’s first smart and sustainable town as well as its proximity to Jurong Innovation District - an advanced manufacturing hub also Singapore’s largest mixed use business district outside the city centre.
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An artist's illustration of Miltonia Breeze at Yishun HDB BTO November 2022. (Image: Facebook/Desmond Lee)
Today on 23 November 2022, HDB launched nearly 10,000 BTO flats across 10 projects in both mature and non-mature estates – the single largest launch so far in order to satisfy huge pent-up demand from young couples looking to buy their first homes in Singapore.
HDB is home for more than 80% of Singaporean households and with every launch, HDB tries its best to provide HDB flats with different attributes to meet Singaporeans’ diverse budgets and needs.
Earlier this year, HDB committed to launch up to 23,000 flats in 2022 therefore with this latest HDB BTO launch, HDB has crossed this target by launching a total of 23,184 new BTO flats this year. If you add the 3,023 Sale of Balance Flats (SBF) in HDB's various exercises and 911 flats offered via open booking, HDB has offered an amazing total of 27,118 flats in 2022.
Below are the November 2022 HDB BTO Sales Launch:
HDB is home for more than 80% of Singaporean households and with every launch, HDB tries its best to provide HDB flats with different attributes to meet Singaporeans’ diverse budgets and needs.
Earlier this year, HDB committed to launch up to 23,000 flats in 2022 therefore with this latest HDB BTO launch, HDB has crossed this target by launching a total of 23,184 new BTO flats this year. If you add the 3,023 Sale of Balance Flats (SBF) in HDB's various exercises and 911 flats offered via open booking, HDB has offered an amazing total of 27,118 flats in 2022.
Below are the November 2022 HDB BTO Sales Launch:
Aranda Breeze @ Yishun
(Nov 2022 Build-To-Order)
(Nov 2022 Build-To-Order)
Click for more details from HDB website
Aranda Breeze @ Yishun is bounded by Yishun Avenue 1 and Yishun Street 53. The development comprises 6 14-storey blocks. 2 of these blocks will house some rental flats. You can choose from 699 units of 2-room Flexi, 4-, and 5-room flats.
The name ‘Aranda Breeze @ Yishun’ describes the development’s location near the breezy Lower Seletar Reservoir as well as other nearby parks. Just like the nearby Miltonia Breeze @ Yishun and Vanda Breeze @ Yishun, Aranda Breeze @ Yishun is also named after an orchid. Nature motifs will be throughout Aranda Breeze @ Yishun, such as on the walls of communal spaces to aid wayfinding.
The name ‘Aranda Breeze @ Yishun’ describes the development’s location near the breezy Lower Seletar Reservoir as well as other nearby parks. Just like the nearby Miltonia Breeze @ Yishun and Vanda Breeze @ Yishun, Aranda Breeze @ Yishun is also named after an orchid. Nature motifs will be throughout Aranda Breeze @ Yishun, such as on the walls of communal spaces to aid wayfinding.
Garden Waterfront I & II @ Tengah
(Nov 2022 Build-To-Order)
Click for more details from HDB website
Located in the Garden District of Tengah town and right next to the Promenade Park lining the Tengah Pond, Garden Waterfront I & II @ Tengah are located along Tengah Garden Avenue. The 2 developments comprise 18 residential blocks, ranging from 9 to 16 storeys in height. 2 of the blocks in Garden Waterfront I @ Tengah will house some rental flats. You can choose a home from 2,077 units of 2-room Flexi, 3-, 4-, and 5-room flats.
Garden Waterfront I & II @ Tengah are located next to an upcoming MRT station on the Jurong Region Line, and will be near upcoming amenities such as a Neighbourhood Centre and a Community Club. The developments will also be served by bus services leading to the city centre and nearby towns. With an extensive network of walking and cycling paths, residents will be able to walk and cycle everywhere in Tengah.
Garden Waterfront I & II @ Tengah are located next to an upcoming MRT station on the Jurong Region Line, and will be near upcoming amenities such as a Neighbourhood Centre and a Community Club. The developments will also be served by bus services leading to the city centre and nearby towns. With an extensive network of walking and cycling paths, residents will be able to walk and cycle everywhere in Tengah.
Ghim Moh Natura
(Nov 2022 Build-To-Order) - PLH Model
Click for more details from HDB website
Ghim Moh Natura is bounded by Ghim Moh Road, Ghim Moh Close, Commonwealth Avenue West, and the Rail Corridor. The development is located near Buona Vista MRT station and comprises 4 residential blocks ranging from 15 to 40 storeys tall. You can choose from 991 units of 2-room Flexi, 3-, and 4-room flats. Ghim Moh Natura is offered under the Prime Location Public Housing (PLH) model.
Residents at Ghim Moh Natura will get to be close to nature, as the development is located right next to a park and the Rail Corridor. Roof gardens at 2 of the residential blocks will provide panoramic views of the scenic surrounds. As part of the Health District @ Queenstown, Ghim Moh Natura is designed with a variety of recreational and communal facilities to enhance residents’ physical, social, and mental well-being. These include precinct pavilions, playgrounds, fitness corners, shelters, and a communal roof garden on top of the Multi-storey Carpark. There will also be a childcare centre located within the development.
Residents at Ghim Moh Natura will get to be close to nature, as the development is located right next to a park and the Rail Corridor. Roof gardens at 2 of the residential blocks will provide panoramic views of the scenic surrounds. As part of the Health District @ Queenstown, Ghim Moh Natura is designed with a variety of recreational and communal facilities to enhance residents’ physical, social, and mental well-being. These include precinct pavilions, playgrounds, fitness corners, shelters, and a communal roof garden on top of the Multi-storey Carpark. There will also be a childcare centre located within the development.
Click for more details from HDB website
Located along the Kallang River, Kallang Horizon is bounded by Lorong 1 Geylang and the Kallang MRT station. This development comprises 3 residential blocks ranging from 26 to 30 storeys with a choice of 477 units consisting of 3- and 4-room flats. Kallang Horizon is offered under the Prime Location Public Housing (PLH) model.
There is a bus interchange within the development, sited next to the Kallang MRT station. The roof of the bus interchange will be home to an extensive landscaped deck that comes with a variety of recreational and communal activities for residents to enjoy. These include children’s playgrounds, fitness stations, shelters, and trellises. The precinct pavilion in the development will have an exercise deck located on its roof and is orientated to face the Kallang River to provide great views and welcome residents home. Roof gardens located on 2 of the residential blocks provide residents with more spaces to enjoy the scenic river views. A childcare centre and a residents’ network centre will also be provided within the development.
There is a bus interchange within the development, sited next to the Kallang MRT station. The roof of the bus interchange will be home to an extensive landscaped deck that comes with a variety of recreational and communal activities for residents to enjoy. These include children’s playgrounds, fitness stations, shelters, and trellises. The precinct pavilion in the development will have an exercise deck located on its roof and is orientated to face the Kallang River to provide great views and welcome residents home. Roof gardens located on 2 of the residential blocks provide residents with more spaces to enjoy the scenic river views. A childcare centre and a residents’ network centre will also be provided within the development.
Miltonia Breeze @ Yishun
(Nov 2022 Build-To-Order)
Click for more details from HDB website
Bounded by Miltonia Close, Yishun Avenue 1 and Yishun Avenue 10, Miltonia Breeze @ Yishun comprises 9 residential blocks ranging from 12 to 14 storeys in height. You can choose from 1,334 units of 2-room Flexi, 4-, and 5-room flats.
Like the nearby Aranda Breeze @ Yishun and Vanda Breeze @ Yishun, the name 'Miltonia Breeze @ Yishun' references orchids. You will find floral motifs livening up the common areas around the development.
Like the nearby Aranda Breeze @ Yishun and Vanda Breeze @ Yishun, the name 'Miltonia Breeze @ Yishun' references orchids. You will find floral motifs livening up the common areas around the development.
Queensway Canopy
(Nov 2022 Build-To-Order)
Click for more details from HDB website
Bounded by Queensway, Queen’s Crescent, and the Rail Corridor, Queensway Canopy is designed to take advantage of the scenic surroundings and its proximity to the Rail Corridor. The 5 residential blocks will have staggered heights, from 6 to 40 storeys, and are orientated to maximise the views from their units. You can choose from 996 units of Community Care Apartments, 3-, and 4-room flats. The Community Care Apartments will feature assisted living provisions, which integrates senior-friendly design features with care services and social programmes to let you live your golden years with peace of mind. This assisted living concept is designed for seniors to live an active lifestyle, enjoy independence, and connect with friends. The Community Care Apartments are offered to seniors (aged 65 and above) on short leases between 15 and 35 years (in 5-year increments), where the lease chosen must be able to cover the applicant and spouse (if any) until at least the age of 95 years. The residential block with the Community Care Apartments is expected to complete in 3Q2028.
Within the block housing Community Care Apartments, there will be furnished communal spaces on each floor for residents to mingle and build social networks. You can use these furnished spaces to catch up with neighbours and share meals at the communal spaces, or participate in group activities.
Within the block housing Community Care Apartments, there will be furnished communal spaces on each floor for residents to mingle and build social networks. You can use these furnished spaces to catch up with neighbours and share meals at the communal spaces, or participate in group activities.
Ulu Pandan Banks
(Nov 2022 Build-To-Order) - PLH Model
Click for more details from HDB website
Bounded by Commonwealth Avenue West, Ghim Moh Link and the Ulu Pandan Park Connector, Ulu Pandan Banks is located near Dover MRT station. Its name references the Ulu Pandan Canal, which is located next to the site. In developing the plans, HDB has considered the findings from the Environmental Baseline Study and Ecological Profiling Exercise, feedback from Nature Groups and the community, as well as site context. The site will be developed sensitively, with green and blue elements weaved into the plans to support the local biodiversity, while enhancing residents’ well-being. The development comprises 7 residential blocks. 3 blocks have heights staggering from 33 to 44 storeys high, 2 blocks have varying heights from 10 to 12 storeys, while another 2 blocks range from 6 to 8 storeys in height. You can choose from 1,330 units of 3- and 4-room flats. Ulu Pandan Banks is offered under the Prime Location Public Housing (PLH) model.
Ulu Pandan Banks is located within the Health District @ Queenstown and will be designed with a variety of wellness choices for residents to experience a healthy and conducive living environment. For example, the development comes with a fitness trail at the skybridges linking 3 residential blocks at the 34th storey. It also features a range of recreational facilities closely located to one another to foster family and inter-generational bonding. These include playgrounds for children, fitness stations for adults and elderly, and a hardcourt. The sky terraces and roof gardens within all the residential blocks, and roof gardens atop the Multi-Storey Car Park make for ideal spots to exercise or rest while enjoying scenic views. Retained trees, pockets of bio-swales, and rain gardens on the grounds of the development provides a tranquil and green environment, while landscaped paths designed as restorative trails lead to the adjacent park and Ulu Pandan Park Connector where residents can be closer to nature.
Ulu Pandan Banks is located within the Health District @ Queenstown and will be designed with a variety of wellness choices for residents to experience a healthy and conducive living environment. For example, the development comes with a fitness trail at the skybridges linking 3 residential blocks at the 34th storey. It also features a range of recreational facilities closely located to one another to foster family and inter-generational bonding. These include playgrounds for children, fitness stations for adults and elderly, and a hardcourt. The sky terraces and roof gardens within all the residential blocks, and roof gardens atop the Multi-Storey Car Park make for ideal spots to exercise or rest while enjoying scenic views. Retained trees, pockets of bio-swales, and rain gardens on the grounds of the development provides a tranquil and green environment, while landscaped paths designed as restorative trails lead to the adjacent park and Ulu Pandan Park Connector where residents can be closer to nature.
Vanda Breeze @ Yishun
(Nov 2022 Build-To-Order)
Click for more details from HDB website
Bounded by Yishun Avenue 1, Yishun Street 53, and Yishun Avenue 10, Vanda Breeze @ Yishun comprises 10 residential blocks that are 14 storeys in height. 2 of these blocks will house some rental flats. You can choose from 961 units of 2-room Flexi, 3-, 4-, and 5-room flats.
Residents can look forward to relaxing amid lush landscaping within the development. The façade and precinct facilities are also designed with a green leafy theme and orchid motifs, as a reference to Singapore’s national flower, the orchid Vanda Miss Joaquim. Nearby developments Aranda Breeze @ Yishun and Miltonia Breeze @ Yishun are also named after species of orchids.
Vanda Breeze @ Yishun comes with an eating house, supermarket, shops, childcare centre, and residents’ network centre. Those looking for a dose of fun and fitness can enjoy various recreational facilities within the development, such as children’s playgrounds and fitness stations. The roof garden located above the Multi-Storey Car Park and adjacent park will serve as additional spots to relax amid greenery.
Residents can look forward to relaxing amid lush landscaping within the development. The façade and precinct facilities are also designed with a green leafy theme and orchid motifs, as a reference to Singapore’s national flower, the orchid Vanda Miss Joaquim. Nearby developments Aranda Breeze @ Yishun and Miltonia Breeze @ Yishun are also named after species of orchids.
Vanda Breeze @ Yishun comes with an eating house, supermarket, shops, childcare centre, and residents’ network centre. Those looking for a dose of fun and fitness can enjoy various recreational facilities within the development, such as children’s playgrounds and fitness stations. The roof garden located above the Multi-Storey Car Park and adjacent park will serve as additional spots to relax amid greenery.
West Glades @ Bukit Batok
(Nov 2022 Build-To-Order)
Click for more details from HDB website
Bounded by Bukit Batok West Ave 2 and 5, West Glades @ Bukit Batok comprises 5 residential blocks between 14 and 24 storeys in height. You can choose from 790 units of 2-room Flexi, 3-, 4-, and 5-room flats.
The development name is inspired by the layout of the residential blocks, which flank the spacious central green space resembling trees surrounding a tranquil clearing. Apart from lush landscaping within the development, the roof garden located above the Multi-Storey Car Park will serve as an additional spot to relax amid greenery. For the active, the children’s playgrounds and adult and elderly fitness stations are ideal spots for daily activity and exercise. A childcare centre will be conveniently located in this development.
The development name is inspired by the layout of the residential blocks, which flank the spacious central green space resembling trees surrounding a tranquil clearing. Apart from lush landscaping within the development, the roof garden located above the Multi-Storey Car Park will serve as an additional spot to relax amid greenery. For the active, the children’s playgrounds and adult and elderly fitness stations are ideal spots for daily activity and exercise. A childcare centre will be conveniently located in this development.
Real estate professional Kiwi Lim believe that HDB is working hard to manage the rising price of resale HDB flats in the market by launching the largest number of BTO flats in this Nov 2022 exercise as well as the large number of sale of balance flats for potential homeowners to choose from. This latest HDB BTO exercise are also seeing flats that are more attractively priced even when compared to the previous launches this year and resale flat prices.
HDB will be launching another 23,000 HDB BTO flats next year, and are prepared to launch up to 100,000 new flats between 2021 to 2025, if needed in order to satisfy Singaporean's needs for owning their dream homes.
To help families own their first homes, the bulk of the flats on offer in this launch are in non-mature estates, where at least 95% of 4-room or larger flats are set aside for first-timers. Eligible first-time households can enjoy up to $80,000 in housing grants when purchasing their subsidised BTO flat.
You may apply for Build-To-Order online or Sale of Balance Flats exercise online.
About 60% of the BTO flats are in non-mature estates, where more flats are set aside for first-timers, and all of the 4-room flats are below $400,000.
Applications close on 1 December 2022, 11:59pm. Successful applicants will be determined by a computer ballot, and not on a first-come-first-served basis. More information on the flats on offer in the November sales launch is available at: https://homes.hdb.gov.sg/home/landing.
HDB will be launching another 23,000 HDB BTO flats next year, and are prepared to launch up to 100,000 new flats between 2021 to 2025, if needed in order to satisfy Singaporean's needs for owning their dream homes.
To help families own their first homes, the bulk of the flats on offer in this launch are in non-mature estates, where at least 95% of 4-room or larger flats are set aside for first-timers. Eligible first-time households can enjoy up to $80,000 in housing grants when purchasing their subsidised BTO flat.
You may apply for Build-To-Order online or Sale of Balance Flats exercise online.
About 60% of the BTO flats are in non-mature estates, where more flats are set aside for first-timers, and all of the 4-room flats are below $400,000.
Applications close on 1 December 2022, 11:59pm. Successful applicants will be determined by a computer ballot, and not on a first-come-first-served basis. More information on the flats on offer in the November sales launch is available at: https://homes.hdb.gov.sg/home/landing.
Information above are extracted and compiled from HDB website on 23 Nov 2022
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Esparina Residences is popular among home buyers desiring convenience within 3 mins walk to MRT, 24-hour NTUC and 24-hour kopitiam in the matured estate of Buangkok in District 19
"Buyers looking to secure their desired properties can avoid common mistakes which may adversely affect their chances of securing their dream house or ideal property," said Kiwi Lim, real estate professional from Huttons Asia who has been assisting buyers with their asset progression through buying and selling properties for nearly a decade.
Below are some advice before buying a property:
1. Understand your requirements
List down your requirements based on the level of importance and differentiate your needs and wants. Sometimes we buy a property based on what our friends are buying but it is important to take a quiet moment to discuss with your family what you really need to prevent buyer remorse. Are you buying for investment or own stay? Are you more focused on rental yield or capital appreciation? If you are buying for own stay, how long will you be intending to stay there? Why are you selling your current property? These are some very important questions to ask yourself.
2. Try not to change jobs at least one year before buying your dream home
While it is normal to change jobs to benefit your career advancement, it may also complicate your mortgage approval. The banker wants to see that you have a stable income and employment status, so that they can feel confident that you can afford to repay your mortgage loan. Even if the bank pre-approved your mortgage loan based on your income and job, any change in your job status during the interim period may still affect your loan approval.
For loan approval, you generally need to provide proof of one to two consecutive years of steady employment and income. When you change jobs, that continuous record of income and employment is disrupted, especially if you change to a lower-paying job to follow your passion.
3. Delay buying your car
If you would like to live in your dream sports car rather than your dream home then go ahead because if you're buying a car with cash, it will reduce the amount of cash you have on hand to pay for your dream house. If you're buying your car through credit, it would affect your Total Debt Servicing Ratio (TDSR). TDSR factors in all debt obligations, including the property loan you're applying for, credit card, car loans, student loans, and other secured or unsecured loans.
4. Don't apply for new credit cards & don't get behind your credit card payments
Applying for new credit card when you're trying to get a mortgage may complicate your home loan application. A new credit account may affect your credit score and may raise questions about the stability of your finances. If you're considering a new card and a new home at the same time, you may want to put the new card on hold.
Below are some advice before buying a property:
1. Understand your requirements
List down your requirements based on the level of importance and differentiate your needs and wants. Sometimes we buy a property based on what our friends are buying but it is important to take a quiet moment to discuss with your family what you really need to prevent buyer remorse. Are you buying for investment or own stay? Are you more focused on rental yield or capital appreciation? If you are buying for own stay, how long will you be intending to stay there? Why are you selling your current property? These are some very important questions to ask yourself.
2. Try not to change jobs at least one year before buying your dream home
While it is normal to change jobs to benefit your career advancement, it may also complicate your mortgage approval. The banker wants to see that you have a stable income and employment status, so that they can feel confident that you can afford to repay your mortgage loan. Even if the bank pre-approved your mortgage loan based on your income and job, any change in your job status during the interim period may still affect your loan approval.
For loan approval, you generally need to provide proof of one to two consecutive years of steady employment and income. When you change jobs, that continuous record of income and employment is disrupted, especially if you change to a lower-paying job to follow your passion.
3. Delay buying your car
If you would like to live in your dream sports car rather than your dream home then go ahead because if you're buying a car with cash, it will reduce the amount of cash you have on hand to pay for your dream house. If you're buying your car through credit, it would affect your Total Debt Servicing Ratio (TDSR). TDSR factors in all debt obligations, including the property loan you're applying for, credit card, car loans, student loans, and other secured or unsecured loans.
4. Don't apply for new credit cards & don't get behind your credit card payments
Applying for new credit card when you're trying to get a mortgage may complicate your home loan application. A new credit account may affect your credit score and may raise questions about the stability of your finances. If you're considering a new card and a new home at the same time, you may want to put the new card on hold.
5. Advisable to engage a real estate agent
Searching for your dream home on your own may be emotionally tiring and time consuming. A professional, experienced real estate agent can help you sieve out duplicate listings, narrow down your choices and spot issues with the physical property as well as the negotiation process with sellers. Moreover your agent will help to verify ownership of property as well as advice you on the neighborhood and other matters, just in case situations arise where you need professional advice and have no one to turn to.
If you go for viewings without your own real estate agent, the seller’s agent may not act in your best interest as their goal is to get the highest and best offer for the seller since they are engaged by the seller. Having your own agent whose interests are more aligned with yours will help you make more informed choices.
The cost of engaging an agent won’t come directly out of your pocket because as a buyer buying private residential properties, you generally don’t pay the buyer agent’s commission. It’s usually paid by the seller to the seller’s agent, who then splits the commission with the buyer’s agent.
6. Do not get too emotional and forget your requirements / overstretch budget
It is easy to get emotionally attached to a property that is well suited to your requirements. It may be the house of your dreams, but one has to consider the practical details as well before making the decision. If your dream home is way above your budget and loan eligibility, you may feel financially stretched and it may drain and mentally stress you affecting your family or marital relationship. You may worry excessively about unforeseen medical expenses, rising school fees, cost of living, insurance, etc.
Searching for your dream home on your own may be emotionally tiring and time consuming. A professional, experienced real estate agent can help you sieve out duplicate listings, narrow down your choices and spot issues with the physical property as well as the negotiation process with sellers. Moreover your agent will help to verify ownership of property as well as advice you on the neighborhood and other matters, just in case situations arise where you need professional advice and have no one to turn to.
If you go for viewings without your own real estate agent, the seller’s agent may not act in your best interest as their goal is to get the highest and best offer for the seller since they are engaged by the seller. Having your own agent whose interests are more aligned with yours will help you make more informed choices.
The cost of engaging an agent won’t come directly out of your pocket because as a buyer buying private residential properties, you generally don’t pay the buyer agent’s commission. It’s usually paid by the seller to the seller’s agent, who then splits the commission with the buyer’s agent.
6. Do not get too emotional and forget your requirements / overstretch budget
It is easy to get emotionally attached to a property that is well suited to your requirements. It may be the house of your dreams, but one has to consider the practical details as well before making the decision. If your dream home is way above your budget and loan eligibility, you may feel financially stretched and it may drain and mentally stress you affecting your family or marital relationship. You may worry excessively about unforeseen medical expenses, rising school fees, cost of living, insurance, etc.
Kiwi Lim believe the Singapore government may raise the Total Debt Servicing Ratio (TDSR) floor interest rate to 4.5% very soon which will reduce the home loan quantum offered by banks to buyers for property purchases.
Therefore the above advice will help potential buyers looking to buy their desired property secure their loan even when TDSR floor interest rate is revised upwards to 4.5%.
Therefore the above advice will help potential buyers looking to buy their desired property secure their loan even when TDSR floor interest rate is revised upwards to 4.5%.
