FIRST-TIME HOME BUYER TIPS

Written by Chris Pang
Tuesday, 22 November 2022

Compare the different types of home loans

Before applying for a home, understand what loans are available and how much money you have to put aside for each one. It doesn’t matter whether you can’t get a bank loan at first, once you’ve paid off some debts and/or become more financially secure, you can always refinance your home loan. Whenever you’d like guidance on refinancing your home, feel free to reach out to me. I’m more than happy to assist you with the best possible loan options.

FIRST-TIME HOME BUYER TIPS - Compare-the-different-types-of-home-loans

Calculate your down payment and how much you can afford

Make sure you plan ahead a few years in advance to allow yourself time to save. This can help you qualify for a more favourable bank loan and lend less (and incur a lower interest rate). Getting your finances in order is the first step to buying a house. Online tools such as the PropertyGuru affordability calculator can be used to get estimates of your monthly repayments and down payment.

FIRST-TIME HOME BUYER TIPS - Calculate-your-down-payment-and-how-much-you-can-afford

Setting realistic expectations for your home

Consider your wants vs. your needs so that you can narrow your search. You may encounter great difficulties in conducting your home search without a list that you can reference continuously. Unless your budget is high, be realistic with your must-haves because you cannot have it all. Here are some considerations to think about:

  • A home within walking distance of an MRT station
  • Variety of food options around the area
  • An unblocked view for privacy
FIRST-TIME HOME BUYER TIPS - Setting-realistic-expectations-for-your-home

Get a property agent

A property agent isn’t always necessary, but it can be beneficial for those who are busy. Buying a home involves multiple steps and processes, and if you are not familiar with them, buying a property without help can be really stressful. If you don’t have the capacity to handle the specifics, it’s best to hire a professional. Feel free to get in touch with me, I would love to hear about your plans for your future home since it is the place where love, hope, and dreams begin. Let me be a part of your real estate journey!

FIRST-TIME HOME BUYER TIPS - Get-a-property-agent

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I am Chris Pang

Property agent, Financial advisor

I specialise in residential property in Singapore and have been in the industry for over a decade. Helping my clients find their dream home or achieve their property goals is one of my favourite aspects of my work. With my knowledge of the vibrant city, I strive to provide my clients with ideal locations by understanding your personalities and preferences in order to better guide you towards the neighbourhoods that are ideal for you and your family.

Seeing the positive impact my work have on their families brings meaning and purpose to my life. Being able to change the lives of my customers for the better and put them and their families in a better position for the future makes me feel fulfilled!

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