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Buying a home can seem so daunting that it's tempting to either just go with the first house that falls in your price range or continue to rent. Property Mall aims to reduce the challenge of purchasing a home and helping you demystify the process and get the most out of the purchase.

 

Considerations Before You Buy

The first thing you'll need to determine is what your long-term goals are and then how home ownership fits in with those plans. 

1. What type of home best suits your needs?  Options include maisonettes, terraces, flats, detached houses etc. Current and projected family size, privacy needs and other factors will determine your best option. 

2. What specific features will your ideal home have? – Look out for key features and functionalities required in your home. Your list should include basic desires, like neighborhood and size, all the way down to smaller details like bathroom layout, kitchen design, swimming pool, gym, ensuite rooms, boys quarters’ etc.

3. Consider your financing options and secure financing. – Self finance and mortgages are 2 of the common financing options. If the purchase is being financed through mortgage, you can visit Imperial Homes Mortgage Bank website to schedule an appointment to discuss the various mortgage loans and the requirements.  

The Buying Process

1. Find a home using property mall’s interactive website: Property Mall has properties properly differentiated by location, housing type, pricing, features etc.  Each property listing has detailed information and professional pictures making it easier to make an informed decision. 

2. Contact the seller via email or telephone: Under each listing, the contact details of the seller are stated. You can contact them to request for additional information on the property via email or telephone. 

3. Conduct a property inspection: Once suitable information is obtained, an inspection of the property should be scheduled. During the inspection, be aware of the  neighborhood and look out for key infrastructures such as roads, drainages, electricity etc. Also be observant of accessibility and security of the subject property.  

4. Carry out a title search: A legal professional should be engaged to carry out title search and conduct other due diligence to ensure the property is free from all encumbrances. 

5. Make an offer: Once the steps above have been successfully completed, an offer can be made to the seller for a fair value. Remember, to clearly define the payment terms and other conditions. 

6. Close the sale. This involves payment of the consideration and hand over of the property. Congratulations on your New Home.


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