Before deciding which property to buy, there are many factors that you need to know and consider. Some important factors include:
– Is the price right?
– Is the location right?
– Is the developer of sound reputation?
– Is the title of property valid?
– Is the workmanship good?
– Are the bathrooms properly designed and of comfortable size?
– How much are the monthly maintenance fees?
– How much are the assessment fees?
– How much is the quit rent?
– How much rental can it fetch if you decide to rent it out?
– How much is the maintenance and sinking fund? (For apartments and condominiums)
– How much is the repayment? Is it more than 1/3 of your monthly take home pay?
– Does the bank charge a penalty fee if you decide to refinance?
Although these are basic questions, many people tend to overlook them, especially when they are overcome by the excitement of owning their first home.
