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Top 2 Things You Need To Know Before Building Your Own Landed Property

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Top 2 Things You Need To Know Before Building Your Own Landed Property

Here are the top 2 things that you need to know at when investing in your own landed property.

 

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Top 2 Things You Need To Know Before Building Your Own Landed Property

1. Know your budget.

Oftentimes, many individuals look at the initial price of landed property and assume they can afford it. However, it is important to look at the long-run costs that will have to be constantly maintained. Many landed properties such as GCBs and other terraces need to be monthly maintained, which may lead to a huge sum of money. On top of that, any desired construction will cost additional. For example:

  • Price of property
  • Conveyance/Legal fees
  • Agent fees
  • Property tax
  • Rebuilding, Reconstruction, Addition, and Alteration works
  • Land surveyor fees (Topographical Survey, soil test, etc)
  • Architect Fees
  • Project cost payment for the selected construction firm in Singapore

2. Legal Restrictions

Think about the legal restrictions, as Singapore is highly land scarce. There are strict control measures within each housing type. These restrictions must be followed.

Referring back to our previous post The 5 Types of Landed Property You Need to Know now before you purchase a home! It has numerical data for what is allowed and what is not.

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