4 Tips to Get Value-For-Money Student Housing in Singapore

Posted by on Sep 19, 2016 in Buying Property, Property Guides

“The little red dot” may be the most expensive city in the world, but with a little planning and patience, it is still possible to find reasonable rooms to rent. Here are some guidelines that can help you find the right place at the right price. Compare student hostels across multiple booking sites The most logical option for the newbie would be to look up student hostel booking sites. These types of accommodation are tailored for student life – you’ll be renting and sharing with other students and expect basic facilities to include public computers, printers and recreation rooms. But before settling on a hostel, be sure to check several booking sites as some offer cheaper rates during promotional periods. Others offer discount codes when you pay as well, and even a five percent discount on a year’s contract can mean huge savings! A valid Student Pass gets you access to many student hostels, which typically offers contracts as short as three months and rooms starting from S$300 to over S$1500. Many students choose to share the larger rooms, so an average shared cost per person is around S 140 to S$400 per month. Think like a backpacker Imagine that you’re travelling as a tourist on a shoestring budget, however, and you might be surprised at the range of accommodation available to you. Budget hostels and inns geared for the short-stayers and budget travellers can have bunk-type beds, private rooms and even capsule beds for as low as S$20 a night – coming up to S$600 a month without discounts. These options are very useful if you’re not sure about what you want and want to test out several options before you decide. The locations also tend to be very central and the chance to meet all types of people other than fellow students can also appeal to the adventurous student. Think of staying with the locals As accommodation options like Airbnb and CouchSurfing gain popularity all over the world, more and more Singaporeans are putting up their spare rooms for rent. While starting prices per night can be a little steep, monthly rentals offer huge discounts and surprising deals. These options also offer a range of rooms in landed housing as low as $900 a month (which you could share, halving the cost). Such rooms typically encourage intervention with the landlords or hosts – something that might appeal to the student looking to integrate or mingle with the locals. Look up social housing Social housing built by the government’s Housing and Development Board (HDB) also represents a low-cost option for students wanting to live on their own or with friends. A standard rate for an HDB rental flat would depend on the area (generally it gets higher the more central the location) but expect to pay monthly rent between S$1,000 to S$1500 for three- to five-bedroom HDB flat....

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Seven Tips for Finding Your Dream Property

Posted by on Dec 1, 2014 in Buying Property

Searching for properties can be an exciting experience, but with so many properties on the market it can also be an overwhelming process. It doesn’t have to be. Arm yourself with these seven tips for finding your dream property and you will find the right place for you. 7. Location, location, location! Location is the most important factor in real estate. Nearby improvements, such as a new shopping centre or widening of the road, can greatly affect the value of your property. Keep in mind that a property in a great location is much easier to sell later on. Search the best property location here. 6. Short term vs. Forever Home Do you plan to own this property for at least a few years, or longer? If you know you’ll only be in the area for a short time, renting might be a better option for you. Closing costs and a rapidly changing market might mean you’ll owe money on the sale, but if you stay put for a few years, you are more likely to come out ahead. 5. Commute Time Commute time is an important factor. While it might not seem like a big deal when you first move in, it can become a hassle over time. Ask yourself, will I be willing to drive this far a year from now or will I grow tired of it by next month. 4. Children If you have school-aged children, buying in a good school system will be an important factor for you. In addition, good school systems help increase property values. Likewise, if you plan to start a family in the future you will need ample room for your children to sleep and play. Consider that teenagers take up quite a bit more space than toddlers, and plan accordingly. 3. Price Don’t let your eyes get bigger than your wallet. Talk with a lending professional about how much you can realistically afford. It is recommended that you get pre-approved before you start looking for homes, that way you won’t exceed your housing budget. You’ll need to set aside some funds for taxes and basic upkeep as well. 2. Look Beyond the Wall Colour Sometimes it’s difficult to imagine yourself living in a space that someone else has decorated. Look beyond the wall colour and the drapes and try to imagine your belongings in that space. If that proves to be too difficult, there are apps on the market that allow you to take a picture of the offending wall and change the wall colour in your photo, making it easier to imagine your dream home. 1. Needs vs. Wants We’ve all done this at some point. It’s hard to ignore the bells and whistles sometimes, but ask yourself if you really need a three-car garage or an industrial kitchen. Keep a list of what you need, also called...

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4 Questions to Ask Yourself Before Buying a New Home in Selangor

Posted by on Dec 1, 2014 in Buying Property

Buying your first home is far different than shopping for a new shirt, skirt or shiny pair of shoes. Purchasing a piece of property involves large amounts of time, money, effort, planning and patience. The first priority with purchasing a new home is the location, but there are other essentials to be considered, especially when you are buying property in Selangor, Malaysia. The list below has a few questions will help you to prioritise and to quickly find a Selangor home that suits your needs.   1) Can you afford to purchase a home? The cost of the house should rank the highest on your list of priorities. After all, if your dream home ends up putting you into a pinch for money, you will not be able to enjoy your property very much. Take the time before you purchase your home to chart the amounts of cash you will be required to lay out for the down payment, any legal fees, the mortgage, loan insurance and any other costs. List all your assets as well, such as your income, savings and investments to determine if you can afford the home. Also, you may need to obtain a mortgage pre-approval before you even begin viewing homes. Check with your land agent to see if this is necessary.   2) What type of house do you want? Typically, property is broken into two groups: landed and non-landed. Landed properties are single storey or double-storey homes, bungalows and link houses. Landed property is often more expensive than non-landed property, primarily because of the added value the land adds to the home. Non-landed property, consisting of properties such as condominiums, apartments and flats, are typically preferred by the younger generation due to the fact that property maintenance is the responsibility of the community’s developer. The monthly maintenance fee gives you the right to amenities such as a gymnasium, squash court or swimming pool.   3) Is the house adequate for your needs? The process of purchasing a home is a long and complex one. One of the most important parts of the process is inspecting the property, from top to bottom, outside and inside. On the interior, you may wish to consider the sizes of various rooms, such as the kitchen and dining hall, to determine whether they are large enough to fit your needs. Inspect to see that there are sufficient power points, lighting and heating vents. Is the storage space adequate? Are there enough toilets for the size of your family? On the exterior, look around and see if the sun comes in the windows to the extent you would prefer. If you are thinking about having a garden at your home, now is a good time to see where you would put it.   4) Is the home located where you want? Finding a home located in Selangor that...

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Buying Properties In Malaysia for Foreigners: A Brief Beginner’s Guide

Posted by on Sep 1, 2014 in Buying Property, Property Guides

Buying Properties In Malaysia for Foreigners: A Brief Beginner’s Guide

Have you ever been to the beautiful country of Malaysia? If you have then you know it is filled with undeniable beauty. Its tranquil surroundings have attracted many people from faraway lands. If you are considering investing in one of these properties, you need to know and understand the buying process for this country. While some countries are picky about their purchasing process, this one is a bit more buyer friendly. The property costs are very low, which makes it a great place to buy, sell or rent a home. Although going about this journey without help is not advisable, things can get a bit confusing. Before going to look at properties and finding a home, the journey should all begin with a reliable real estate agency leading the way. Propwall online property listings can help in the home search and ensure that you find a home fit for a king. They can help cut through any red tape about purchasing in another country. Before beginning on this journey, one must know the laws regarding purchases from non-citizens. First, a foreigner can purchase a property that has a value of at least $76,453 US dollars. In Malaysian money that is MYR 250,000. The currency in this country is called the Malaysian Ringgit. Additionally, a person can purchase 2 residential properties. The block cannot be more than fifty percent foreign ownership. There are some specific details that a Realtor can help define. Once a property has been selected, an acceptance letter must be signed. At this time a person must put down a three percent deposit. The buyer expects this as good faith money. Within two weeks, or 14 days, of the sale, the Purchase Agreement must be signed. At this time the buyer is required to put down another seven percent of the deposit. After the paper is signed, the buyer has up to three month to come up with the full payment for the property. To make things legal, the Sale and Purchase Agreement must have a stamp from the Stamp Office to be considered a verifiable date. This is for purchasing a home, and a Realtor can help through every step of the process. However, there are many who currently live in the area and are looking to sell or rent out their homes.    ...

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Buying Property in Malaysia? Here Are Helpful Local Tips You Should Know

Posted by on Jul 1, 2014 in Buying Property

Buying Property in Malaysia? Here Are Helpful Local Tips You Should Know

Investing in property can be a wonderful experience; however, it all depends on how much research you conduct; especially when it comes to investing in property in Malaysia.   Tips and Guidelines when Buying in Malaysia There are some tips and guides that will help if you decide to buy property in Malaysia such as comparing and contrasting local competitor’s prices. This will give you a better idea on the value of property. It is important to check the average of prices between houses or property for sale in the location you’re interested in. Be sure that the information you gather is current. Finding a nice townhouse is an options some consider when buying in Malaysia.   Realtors and Real Estate Agents can make a Difference! Another tip that is important is to realize that real estate agents and realtors can be quite helpful with the buying process. Real estate agents and realtors have access to online information that will add to your research and in most cases, will give you an upper-hand toward success in finding good property in Malaysia.   Look Carefully at the Location Most importantly, evaluate the location you’re interested in as being suitable for development. Look for hospitals and schools that may be under construction. Find out if the roads have been paved or in the process of being reconstructed. If the location you’re interested in has good growth potential, then you may have found a good area for buying property.   Buying Near a School or University is a Plus! It is important to note that any location that is near a university or school; will bring success. Most families will consider buying or renting property if the property is near a school or university. So, be sure to keep this one important fact in mind. Other tips to keep in mind when buying property in Malaysia are determining what kind of house or property you want, the percentage of the first payment, obtaining a certification from an architect, finding out the interest on late payments, the Termination of the Sales and Purchase Agreement, Infrastructural Maintenance Fee and the maintenance and management fee. To conclude, buying a property in Malaysia can be a wonderful experience; however, with good research and knowledge about the area, you will make an effective and good choice in this area of the world....

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Living in Penang: A Guide for Expats

Posted by on Jun 3, 2014 in Buying Property

Living in Penang: A Guide for Expats

Penang is a Malaysian state that is located on the country’s northwest coast. This state is divided into two areas which include Seberang Perai which is located on the Malay Peninsula and Penang Island where the seat of the government is located. Both parts of Penang is connected by the Penang bridge. Penang is officially known as Pulau Pinang and it actually a city given the status of a state (or province). This area is an important economic center in Malaysia and it is also a popular tourists destinations. Penang has a mixture of Chinese, Indians and Malays. The city also has thousands of people from different locations from all over the globe. Since English is the dominant language that is spoken in Penang many people from the western world have settled into this region as well. There are close to 2 million people that live in Penang and its surrounding regions.     Penang is a fairly modern area that provides local residents with a high standard of living at a low cost. People who live in Penang are called Penangites and they have access to decent schools, great community services and low housing costs. Life in Penang is quiet and laid back. Though there are a lot of people in Penang the city moves at a relatively slow pace. The city is decent looking but it does not have a vibrant nightlife or culture though activities and events commonly take place within the various communities. Penang is a great place for raising a family but for people looking for an exciting or fun place to be this city will not be the place for them. The crime rate is relatively low.       The cost of housing in Penang is relatively inexpensive when compared to other Malaysia or other countries in Southeast Asia. A house inside of the city can be rented for RM1200 to RM5000 per month. The amount will be dependent on where the unit is located and it it is furnished or unfurnished. A Penang apartment (see here) can be rented for RM800-RM5000 per month. This price is also dependent on location and if furnishings are available. Property is relatively cheap in this area and this is also true for homes that are situated in the nicer sections of the city. Cars will always be the most practical form of transportation but in Penang a person does not necessarily need one to get around. Automobiles make it easier for people to drop off children at school, run errands and to tranport products to the home but they are quite expensive to purchase in Malaysia. However the average cost to rent a vehicle is around RM1200 a month. The bus service in Malaysia is exceptional and it only cost RM2 per adult to ride. Groceries are relatively expensive in this city and Penangites will have to keep...

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