How to buy landed property in Singapore

If you are planning to buy a landed property in Singapore, you need to know a few basic rules.

v  You should be a citizen of Singapore

Get this thing very clearly, a foreigner can buy a condo, but they aren’t allowed to buy landed property in Singapore. A landed property means

• Bungalows
• Semi-detached house
• House with terrace
• Cluster houses

For a foreign PR pass holder of Singapore, it is mandatory to wait for 5 years to buy their own landed property. Besides, you have to make a worthy amount of contribution to Singapore’s economy in 5 years to be eligible.

  v  There are restrictions about making floors

You cannot just build a 5-storey landed house anywhere in Singapore, which would be absurd. The lands have been divided into several zones, where if a zone allows you to build only 3 floors, you cannot build the 4th. In some places the floor restrictions have been limited to two, so you can have a single floored house or a double floored one, but cannot add the 3rd floor. But, the good thing is that you can always hire an cheap and good renovation contractor to design your house at its best with all the limitations.

v  A professional inspector to buy the property

If you want to buy a landed property and liked one in particular, don’t just seal the deal instantly. Hire a professional inspector to check if the house has a green light in every sector. If you don’t do that and just buy it instantly without doing a proper background check, anything happens in the future that will on you.

v  Check the whole construction

• First, you will need to check the substructure as if they aren’t strong enough, you will have to do it by breaking your bank account in future
• Check for any leakage in the basement
• Check the soil as if it’s too soft, you might have to install sheet pilings
• If the property has any problem about the roofing, ask the owner to fix it and if they don’t, just walk away

v How to build a house in Singapore?

If you are planning to build a house on your property that is an excellent choice. But before that, you have to take care of a few factors,

v  Choose the layout

You have been dreaming of building your own house for a long time and have everything designed on your head, right? Well, if you haven’t, you must be aware of the building layout first, which includes the design, the size or even floors. You can always seek advice from the landed house renovation Singapore or you can hire a licensed architect or you could hire the contractors, who can provide both options.

v  Signing the contract

Once you have found your building contractor, you must draw contact to make things legal for both sides. If the contractor insists on continuing the work without any contracts, there is something wrong about it and also check if they are providing any kind of guarantee or not.

A legal contract will include,

• Name and physical address of the contractor or the contracting company
• The name of the owner of the property
• The date of starting the work
• Possible timeline to finish the complete work
• Total amount
• Payment terms
• If delay happens, how much compensation would you receive