The type of transactions where “little extra expenditures” really matter is real estate. Due to the fact that even a few more square feet may add to several thousand dollars, the Singapore real estate market appreciates the attention to detail.
Nevertheless, most novice purchasers are only aware of the most essential considerations to hunt for, such as the property’s facing or comparable cost. In this post, we’ll focus on “little” potential money wasters which, contrary to popular belief, can have a greater impact. Here are some points to look out for while buying landed property in Singapore!
Features that might cost you money when purchasing real estate:
- Checking of the necessary plans
- Checking if the existing property are free of encumbrances
- Foundation and roofing
- Envelope control and zoning
- Soil profile
1. Checking for the necessary plans
This step is one of the most crucial when buying new landed property in Singapore. There are various plans from the respective government authorities which can be purchased for a small fee. Having these checked can help you to make a better informed decision when it comes to a huge purchase.
For example, checking of the Road Line Plan (RLP) issued by the Land Transport Authority for any road reserves prior to purchase.. For instance, if the landed property you are planning to acquire has a total land area of 5,000 sqft and has a road reserve line, the land required as road reserve has to be surrendered, free of encumbrances should you wish to redevelop the plot of land in future. This mistake can be a detrimental one and will severely limit the possibilities down the road.
2. Foundation, roofing and water leakages
A solid foundation plays a vital role for one’s dream home and should never be overlooked or taken lightly. Therefore before buying a landed property in Singapore, do keep a lookout for signs of a bad foundation such as cracks, unaligned walls, doors, window frames very carefully. It is always best to engage a professional to have them accessed. Solving a foundation issue can potentially cost you loads of wasted time and money.
Another thing that you may want to pay close attention to is the roof. Nobody wishes to live in a house with a leaking roof. A leaky roof can cause all kinds of watery damage to your property.
Solving a leaking roof will eat into your pocket. Therefore do negotiate and ensure that the previous owner fixes it as you don’t want to be burdened by the cost.
Lastly, water leakages is also a key area to pay close attention to when buying a landed property in Singapore. Some common signs of water leakages are listed below.
- Discoloration of ceilings
- Paint blotches on the walls
- Wet stains, mould and algae
It is always wise to engage a professional to have this looked into or negotiate with the current seller to have them rectified. Unless of course you are planning to redevelop the land into your dream home.
3. Envelope control and zoning
Source: URA Website
This step is sometimes overlooked when buying a landed property in Singapore. The Urban Redevelopment Authority (URA) has a guideline on the maximum number of levels that you can build. For example, land zoned for 3 storeys allows you to build up to 3 storeys plus an attic while a land zoned for 2 storeys allows you to build up to 2 storeys plus an attic. Therefore it is important to ensure as this may affect the overall design should you wish to redevelop your home in future.
The zoning of your landed home also plays a part. For example, if you have bought a detached house in Singapore in a detached zone, you will not be permitted to subdivide it into a pair of semi – detached home even if you meet the minimum land sizes and plot widths for a semi-detached house in Singapore.
The last point to note when buying a landed property is the soil. If your home is sitting in an area that contains compact soil, it would be more ideal than loose and overly soft soil.
If the landed property you are looking to acquire is nestled near the sea, extra support in the form of sheet piling may be required to provide earth retention and excavation support. The depth of these piles and its respective piling cost may differ for each case which may potentially balloon to substantial amounts.
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