Buying property = Loads of research
But then, actually, for someone like me, doing anything relatively complicated entails plenty of research. Please see my bookshelf for my collection of cookbooks, travel books, and recently, pregnancy books. (No, I'm not pregnant yet, but these things need researching early no?)
But I digress.
When it comes to buying property in Singapore, there was a chunk of information that needed to be researched and then digested and understood. I think I'm at the 55% to 70% mark in terms of finishing my reading and researching so far, so I thought I'll list down some of the websites I've been using. Because having to go back and retrace my steps to find out where I should read in order to buy a HDB flat (when previously I did my research on condos) was sort of stupid.
1. HDB website: http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatOverview?OpenDocument
I linked the buying a resale flat portion because my husband and I are not eligible to buy a new HDB flat (income ceilings...), but reading through this website literally page by page was extremely useful and probably recommended even if you hire an estate agent to help you. It includes details on whether or not you're eligible to buy a HDB (and which type), any grants from the government you might be eligible for, the kind of loans (and limits of the loan) you can take up, how much of the downpayment needs to be in cash as well as the actual procedure chronologically.
2. HDB Centralised Map: http://services2.hdb.gov.sg/web/fi10/emap.html
Super useful map of Singapore which gives you details on every single HDB block, including when was the lease starting date of the block, what kind of flats are in the block (how many 3-rm, how many 4-rm etc), previous transactions within the last 2 years (including which floor, what kind of unit, how big the unit was, and how much it was sold for) etc. I use it primarily to look for the specific blocks I would want a unit in (because I want a flat that doesn't have an internal rubbish chute, which means it has to be a block that has a lease starting after 1993), and to check that those blocks have units that I would want (something bigger than 100sqm, preferably 5-rm) and to see what size their 4-rm or 5-rm units are (from previous transactions) and also transaction pricing. Also, you can check whether the block is near schools or food centres.
3. Other government websites:
CPF - https://mycpf.cpf.gov.sg/Members/Schemes#Housing
To figure out how much of your CPF can be used for housing and other requirements.
IRAS - https://www.iras.gov.sg/IRASHome/Property/Property-buyers/
To try and calculate Buyer's Stamp Duty, Additional Buyer's Stamp Duty, Mortgage Duty, and thereafter Property Tax.
MAS - http://www.moneysense.gov.sg/life-events/buying-a-home.aspx
Actually this is the Moneysense website but it's technically by MAS. This one helps with the new Total Debt Servicing Ratio and Mortgage Servicing Ratio, basically the cap on how much of a mortgage you can take as a percentage of your monthly income. Non-Singaporeans, this is actually a legal requirement for us. :)
4. On loans: I'm not done with my research on this yet, but so far this blogpost has been amazing in demystifying home loans for me so far: http://www.livecollectiva.com/2014/02/housing-loan-singapore-sibor-vs-sor.html
There's also the rather comprehensive document by the Association of Banks Singapore on home loans which I intend to read in detail soon.
http://www.moneysense.gov.sg/~/media/Moneysense/Guides%20and%20Articles/Guides/HomeloanEng.pdf
5. There is no better website than this amazing one if you want to know more about HDBs. I came across it basically trying to answer the question of: how young does a HDB block need to be if I don't want it to have individual rubbish chutes? This website covers this and so much more! I actually quite enjoyed reading the history and evolution of HDBs - now I know why the newer blocks only have Model 4A for 4-room flats and Model 5 Improved for 5-room flats (and when did 5-room actually mean the same number of rooms as a 4-room flat... I know, slightly illogical).
http://www.teoalida.com/
6. If you need the floor plan for a condo unit and the property listing doesn't have it? Odds are, you can find it on http://condo.singaporeexpats.com/property/condo
There are still going to be one or two weird condominiums that you won't be able to find floorplans for, but so far that website has been a goldmine.
But I digress.
When it comes to buying property in Singapore, there was a chunk of information that needed to be researched and then digested and understood. I think I'm at the 55% to 70% mark in terms of finishing my reading and researching so far, so I thought I'll list down some of the websites I've been using. Because having to go back and retrace my steps to find out where I should read in order to buy a HDB flat (when previously I did my research on condos) was sort of stupid.
1. HDB website: http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatOverview?OpenDocument
I linked the buying a resale flat portion because my husband and I are not eligible to buy a new HDB flat (income ceilings...), but reading through this website literally page by page was extremely useful and probably recommended even if you hire an estate agent to help you. It includes details on whether or not you're eligible to buy a HDB (and which type), any grants from the government you might be eligible for, the kind of loans (and limits of the loan) you can take up, how much of the downpayment needs to be in cash as well as the actual procedure chronologically.
2. HDB Centralised Map: http://services2.hdb.gov.sg/web/fi10/emap.html
Super useful map of Singapore which gives you details on every single HDB block, including when was the lease starting date of the block, what kind of flats are in the block (how many 3-rm, how many 4-rm etc), previous transactions within the last 2 years (including which floor, what kind of unit, how big the unit was, and how much it was sold for) etc. I use it primarily to look for the specific blocks I would want a unit in (because I want a flat that doesn't have an internal rubbish chute, which means it has to be a block that has a lease starting after 1993), and to check that those blocks have units that I would want (something bigger than 100sqm, preferably 5-rm) and to see what size their 4-rm or 5-rm units are (from previous transactions) and also transaction pricing. Also, you can check whether the block is near schools or food centres.
3. Other government websites:
CPF - https://mycpf.cpf.gov.sg/Members/Schemes#Housing
To figure out how much of your CPF can be used for housing and other requirements.
IRAS - https://www.iras.gov.sg/IRASHome/Property/Property-buyers/
To try and calculate Buyer's Stamp Duty, Additional Buyer's Stamp Duty, Mortgage Duty, and thereafter Property Tax.
MAS - http://www.moneysense.gov.sg/life-events/buying-a-home.aspx
Actually this is the Moneysense website but it's technically by MAS. This one helps with the new Total Debt Servicing Ratio and Mortgage Servicing Ratio, basically the cap on how much of a mortgage you can take as a percentage of your monthly income. Non-Singaporeans, this is actually a legal requirement for us. :)
4. On loans: I'm not done with my research on this yet, but so far this blogpost has been amazing in demystifying home loans for me so far: http://www.livecollectiva.com/2014/02/housing-loan-singapore-sibor-vs-sor.html
There's also the rather comprehensive document by the Association of Banks Singapore on home loans which I intend to read in detail soon.
http://www.moneysense.gov.sg/~/media/Moneysense/Guides%20and%20Articles/Guides/HomeloanEng.pdf
5. There is no better website than this amazing one if you want to know more about HDBs. I came across it basically trying to answer the question of: how young does a HDB block need to be if I don't want it to have individual rubbish chutes? This website covers this and so much more! I actually quite enjoyed reading the history and evolution of HDBs - now I know why the newer blocks only have Model 4A for 4-room flats and Model 5 Improved for 5-room flats (and when did 5-room actually mean the same number of rooms as a 4-room flat... I know, slightly illogical).
http://www.teoalida.com/
6. If you need the floor plan for a condo unit and the property listing doesn't have it? Odds are, you can find it on http://condo.singaporeexpats.com/property/condo
There are still going to be one or two weird condominiums that you won't be able to find floorplans for, but so far that website has been a goldmine.