So you are planning to own your home. But before you make any serious commitment towards this end, we would like to present you this check list for you to ponder over your decision:

1. Buy only if you plan to stay long term If you are already aware of the fact that you are not going to stay there longer than three years, perhaps it is not time to own one yet. Because the cost of owning the property and subsequently selling it in short time would mean that you are likely end up poorer, even if you see your property has appreciated in value. When the market is bad, the loss you have to suffer could be even unimaginable.

2. Do you have good credit rating? Most of us get a mortgage for our new house and those lenders would discriminate against customer who does not have a decent credit rating to show. If you have this problem, make sure you spend effort to clean up your credit report by fixing any problem that may get reflected in the report before you go shop for a house.

3. Find appropriate home loan Banks generally can loan customers up to 80% of the purchase, or 90% for exceptional cases. But there are a lot of factors involved including payback period, your income, age price, locked in considerations, etc. For this reason, it is advisable you use the online calculator to have an overall appreciation of all possible combinations for the loan amount you desire.

4. Down payment requirement As a rule of thumb, banks expect 20 percent down payment from home buyers. If you have problem putting up this amount, your only option is to discuss your requirement with those offering sub-prime loan. This is done on a case to case basis and there is also pre-qualification requirement.

5. Convenient public amenities and facilities for the family. The point cuts both way as buyers would want easy access to amenities and facilities while sellers knows they can charge a premium on their properties that are suitably located.

6. Find a good property agent If this is the first property you are going to buy, consider using a professional property agent. In fact, try to go for those exclusive buyer agents where possible as they can help the negotiation process on your behalf.

When all above considered and you are even more determined to find your new home, get ready for thorough research on the property market. Past transactions conducted in the area and/or housing type of your choice should give an approximate indication of the real value of the property you are interested in.We are one of the real estate companies in Singapore and we have served our customers in South East Asia Region for years. Our network of agents is strong and we can help you to find your ideal next home for you.

Learn more about Singapore Property. Stop by our site where you can find out all about Singapore Property Elite and what it can do for you.