So you have made it to OZ, what next?
Acquiring a Home
Couple of things to note in this respect.
1) Don't buy a home at a property fair or vendor in Singapore. The prices are higher. Their favourite trick is to tell you the prices are the same in OZ and challenge you to call OZ directly to confirm. The models that are sold in Singapore are not sold to OZ locals. So the guy answering the phone from OZ will give you the same price.
2) Always rent for 6mths to 1 year to get a feel of the place. Do the weekend house inspections, get ideas about buildings and decor. Find out about popular suburbs and get the demographics from web. Download the city plan. Read about pest, engineering inspections etc
3) Rule of thumb is to buy the worst house in the best street. Do not overcapitalise by building a large house in a bad suburb. Its is also a known traits of 3rd world ethnic/community based people.
4) Don't listen to friends and relatives alone. Its a human tendency to justify their original mistake by asking you to make same mistake without realising it. Nobody is going to tell you that he has made a mistake of buying in the wrong neighbourhood.
5) Never buy a house with one carport. Its the worst property to sell later. Never buy along a main road. Never buy along a golf course fringe - the flood lights will not allow you to sleep. Never buy if the house has been modified extensively (DIY) such a bedroom within a bedroom. Never buy a rural property at the start of the 7 year drought cycle. Look out for cracks if there are large trees within the house compound. Be cautious of buying a property that abuts a public accessway or footpath.
6) Auctions can be dicey. If you are really keen on the house, make an offer prior to auction.
7) When it comes to financing don't be a hero. Do your research. The usual local bank loan will do just fine. If anyone recomends multi-currency loan for house purchase (such as singapore denominated loan for its cheaper interest to buy a house in OZ), look around quickly for a big stick and wallop the guy.
8) Try not to buy new homes of the plan or land/house package as you are paying full premium. Better to build from land purchased separately or an existing home for sale.
9) Lastly, if anyone tells you not buy a house yet in OZ as there is a bubble, quickly look for another stick and wallop the guy.
Acquiring a Home
Couple of things to note in this respect.
1) Don't buy a home at a property fair or vendor in Singapore. The prices are higher. Their favourite trick is to tell you the prices are the same in OZ and challenge you to call OZ directly to confirm. The models that are sold in Singapore are not sold to OZ locals. So the guy answering the phone from OZ will give you the same price.
2) Always rent for 6mths to 1 year to get a feel of the place. Do the weekend house inspections, get ideas about buildings and decor. Find out about popular suburbs and get the demographics from web. Download the city plan. Read about pest, engineering inspections etc
3) Rule of thumb is to buy the worst house in the best street. Do not overcapitalise by building a large house in a bad suburb. Its is also a known traits of 3rd world ethnic/community based people.
4) Don't listen to friends and relatives alone. Its a human tendency to justify their original mistake by asking you to make same mistake without realising it. Nobody is going to tell you that he has made a mistake of buying in the wrong neighbourhood.
5) Never buy a house with one carport. Its the worst property to sell later. Never buy along a main road. Never buy along a golf course fringe - the flood lights will not allow you to sleep. Never buy if the house has been modified extensively (DIY) such a bedroom within a bedroom. Never buy a rural property at the start of the 7 year drought cycle. Look out for cracks if there are large trees within the house compound. Be cautious of buying a property that abuts a public accessway or footpath.
6) Auctions can be dicey. If you are really keen on the house, make an offer prior to auction.
7) When it comes to financing don't be a hero. Do your research. The usual local bank loan will do just fine. If anyone recomends multi-currency loan for house purchase (such as singapore denominated loan for its cheaper interest to buy a house in OZ), look around quickly for a big stick and wallop the guy.
8) Try not to buy new homes of the plan or land/house package as you are paying full premium. Better to build from land purchased separately or an existing home for sale.
9) Lastly, if anyone tells you not buy a house yet in OZ as there is a bubble, quickly look for another stick and wallop the guy.
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