If you are planning to buy your 1st private home, you should watch this video. It will answer some common questions from 1st time buyers like you:
1. What should you do before you buy?
2. What should you buy for the 1st time?
3. What projects should you buy: new launch or resale?
4. How do you know you can afford it?
5. How many homes should you view before you buy?
6. How to ensure that you won’t buy the wrong thing?
You can now watch the podcast below. The video comes with full script or subtitles. If you are watching from your mobile, make sure that the “Caption” function is on. If you are on your desktop, turn on the “cc” button – the leftmost button at the bottom right hand corner.
If you like this video, please give me a “Like” and subscribe to my youtube channel.
P.S. For the health of our club members, Property Club Singapore will not be organizing any seminar or workshop during the Covid-19 period. Members are now free to watch seminar videos of Year of the Pig Property Strategies and Singapore Property Market. Just log in and access them under the “Members Only” tab.
Members can continue to learn through our online courses at $299 for each course:
– Buying My First Private Property Online Course
– How to Buy Good Quality Properties Online Course
– Choosing Prime Properties In Singapore Online Course
(Click here to sign up as a member.)
Thank You so much for the Great Sharing
Don’t mention. Just contributing my two cents worth. Hope this is useful to people who plan to buy the 1st time.
Definitely a good reminder and refresher of good advice!
Thank you. Hope more people will find the advice useful.
Thank you for the insightful information, its very helpful for a first time buyer like myself.
I’m currently looking at purchasing my first property (because waiting till 35 years old to move out is really too long for me), but am conflicted by the belief that freehold is better than leasehold (99 years). As I’m looking to rent out the apartment for a bit before I move in, I’m wondering what would be your take on the freehold vs leasehold saying.
You can find answers in my earlier blog post “Freehold or Leasehold”
-> https://www.propertysoul.com/2011/07/09/freehold-or-leasehold-part-i/
-> https://www.propertysoul.com/2011/07/10/freehold-or-leasehold-part-ii/
Hi Vina,
i am a 43 single lady wanting to buy my own first property flexible for investment and home stay but investment will take priority. I am conflicted between new condo launches and some resales units and looking keenly because of my age and to take advantage of the low interest rates. I find new condo launches highly priced for small units and quite impossible to have positive cash flow. And with resales units, i am concerned abt the prospects of finding new tenants in this covid 19 situation. Can u offer me yr advise and what should i go for ?
You have to be clear about the objective of buying the property. Don’t mix up a home for your own stay or for investment. Also, if there is no reasonably positive net return for an investment property, even if it is zero interest rate, it doesn’t make any financial sense to buy the property because you still have to pay interest, maintenance fees and property taxes. Read my book, past blog posts and youtube videos and you should know my views on new sales versus resale private homes.
Hi Property Soul, thanks for sharing. Recently my husband and I agreed with a seller’s agent on the price and conditions (verbal and WhatsApp). On the day that the agent was supposed to meet us for the OTP, he gave some excuse about the seller and has since disappeared. I suspect they have used our offer to bid the price up. How do we handle such situations? Why can’t he just be transparent with us?
In a property sale, any exchange of words verbally or through whatsapp is not considered a formal confirmation, not before you sign an “offer to purchase” or your deposit cheque is accepted and banked in by the seller. Whatever the reason of the seller to back off from the deal is not important now. Move on and find other better offers.
Hi Vina,
Thank you for your valuable sharing. Buying a first home is daunting, your sharing makes the journey less scary. You shared in your book, “when prices correct resist on buiying the way down”. How do I calculate or know that the selling price is actually a value price if the property is relatively new, where I can’t go back to the previous 10 year cycle. Tq for your opinion.
I am glad that you found my youtube videos useful. Regardless of the age of the property, you can always compare a similar unit in a nearby project. It is not necessary to be 100 percent apple-to-apple comparison. But this can give you an idea of the average psf price of properties in that area. Property portal like 99.co shows all the past transactions of a project back to 1995 (the last 26 years).
Thank you very much for your kind sharing