A Comprehensive Property Investment Checklist (Updated 2021)


Congratulations on starting your search for a new home or investment property!


Whether you're a soon-to-be parent, a first time property buyer or investing in your Xth property, it helps to have a comprehensive guide & checklist to follow when deciding on a property.


Apart from the criteria cited in my earlier article, Important Entry Signals for Property Investors, here's a checklist of stuff you would do well to check for when committing to possibly the largest purchase in your lifetime!


Some are basics, some take a little more work.


Ready? Let’s dive in!


A Very Comprehensive Property Buying Checklist


property buying guide checklist singapore
 

A Guide When You're Early In The Search Process


Is it for Investment or Own Stay Purposes?


Properties are mostly for investment purposes (Rental cash flow, capital growth play or both) or for your own occupation.


An investment home that's smack in the Central Business District might not make the best home choice for everyone. Neither does a condominium in Sembawang make the best investment objective choice.


So make sure you have a conversation about what the family really wants with this purchase.



Affordability Check


Before you start searching for a home, do yourself a favour and start with a financial affordability analysis with an experienced property wealth planning trained agent and an in-principle approval for a loan. This helps you prevent time and resource wastage and disappointment when you discover that the home you fell in love with is out of your reach.


Also, a conversation with an experienced and skilled agent will help you obtain greater clarity into how much to budget for your renovations, stamp duties, adhoc costs and tax optimisation methods to structure your purchases.


If you're buying a private home, do a TDSR (Total Debt Servicing Ratio) assessment.


If you're buying a HDB Flat or Executive Condominium, do a MSR (Mortgage Servicing Ratio) assessment.


Both can be done at: