First-Time Home Buyer Tips

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.

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.

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

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!