A person is known by the status of his living, so if you are at Singapore and looking for a pleasant place to live in, there are a number of houses for sale in Singapore that you can find and purchase. Now if you are a citizen of Singapore then HDB flats is the prime option for you, as the government provided this unique housing solution for its citizens and also these are the cheapest option for living available herein. So if you are a citizen or permanent resident then HDB flats for sale in Singapore is the most suitable option for you. Now for HDB flats, you can opt for a Build-To-Order (BTO) unit or a resale flat as per your budget and requirement.
The features of HDB Build-To-order unit:
BTO units are available by the flat allocation system of HDB that offers flexibility in timing and location for owners buying new HDB flats in Singapore. There is a wide variety of BTO flat types available, ranging from studio apartments; 2-room flexi; 3-, 4-, and 5-room flats; and 3Gen flats. From these, you can easily choose any as per your budget and requirement. Also for BTO flats, you typically have the option for the first pick of the unit you want, it’s depending on how early you buy or somewhat on the luck of your ballot. You will also have the option to estimate the unit’s probable rental yield, appreciation, and overall appeal and a good ability to read the location before the property even exists, which will be beneficial for your little customization. BTO flats come with a fresh 99-year lease, thus it’s pretty beneficial from an investment perspective, as it is better to have a longer lease on your home. As the price varies with the remaining lease period; the more years are remaining the higher will be the price. So if you intend to resale your unit after the minimum occupation period, which is for 5 years is over, you can get a good rate of return.
The features of resale unit:
A resale property also comes with the benefit of being in a better location and at a comparatively lower cost. If you are having an economical budget then opting for an old property is a great idea, but there are certain checkpoints to follow before buying an old or resale property in Singapore. As the property is used by some others earlier so it will be naturally a subject of maintenance and some of that may be required to restore and that might cost you a considerable amount. Also, the purchase procedure of resale unit is much faster than the BTO flats. As the resale unit is sold in the open market, so you can choose any resale unit as per your preferable size and location. The remaining lease period is also a vital factor for pricing a flat, as we have mentioned in the above point the longer remaining lease period the higher the price. Moreover, the cost of a resale apartment will invariably be higher, than the price it commanded during its construction due to various charges. But initially it is cheap, thus for purchasing a resale unit you first need to consider for how long you are going to stay, if it’s less than 5 years then purchasing resale unit is beneficial, but for more than 5 years the BTO units would be much cost effective.
Conclusion:
As we have mentioned the HDB flats for sale in Singapore is the cheapest option for the citizens. Now you need to choose whether the BTO or the resale units are the convenient as per your requirements, as for living of more than 5 years the BTO units are beneficial, but if you want to stay for a lesser period then the resale units will be worthwhile for you. So if you are looking for a house for sale in Singapore these key points you need to know to satisfy your need without any flaws.
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