In part 1, we covered the basic questions that you should prepare before heading to showflats, including your budget, preferred type of unit and the reason for your purchase. In addition to those, what other information should you procure in order to be thoroughly prepared for your trip to the showflat?
Location, location, location
Find out the address of the project and do research on its surroundings – are there shopping malls, supermarkets, eateries or public parks nearby? If you have children of school-going age, are there schools close to the development?
Another important thing to take note of is whether or not the project is close to any expressways or busy roads as the noise and grime will vastly affect your standard of living. In fact, there have been published
reports on how living near roads with high traffic pollution could cause dementia and other respiratory problems. (Read more on that here.)
Last transacted price of nearby property
Are you paying a premium over market rate or discounted price for the development? You can find out the last transacted price of surrounding property by browsing Property Guru or searching caveats lodged on the Urban Redevelopment Authority (URA) website.
Do research on the developer
Just as you would do relevant research on new products before making a purchase, finding out more about the developer of the housing project will allow you to make a sound decision regarding your home acquisition.
- Make an enquiry as to who the developer is with a property agent or by searching information online.
- Request for a track record of the developer’s past projects with the agent or by browsing the developer’s website. You can view reviews and ratings on these past developments left by owners who have resided in or who are still living in the homes on websites like Property Guru.
- Find out who the main contractor for the project is – is it a local or overseas contractor and what is their reputation?
While it may seem like a lot of work, all these information will prove to be extremely helpful as you finally head into the showflat. You will be able to maximize your time there by asking the right questions and focusing your attention on what matters.
Continuing on with our special showflat guide, we will acquaint you with the critical things to look out for when you are in the showflat.
Read Part 1 of this guide – “Be Prepared! Tips to Take Note of Before Heading into That Showflat Part 1”