5 Things To Consider When Buying Or Renting A Flat

Whether you are choosing a flat for rental or purchase, finding a home can be challenging and time consuming. Various expectations including interior preferences, budget, and additional charges, as well as location and safety should be considered by you.

#1: THE HIDDEN CHARGES

Ensure that all the clauses of the documents (i.e., including the penalty clauses) are read and understood. Is the builder required to pay you penalty in case you do not receive the renovated flat within the grace period?

Additional expenses such as stamp duty, home loan processing fee, and safety deposit fee should be kept in mind.

#2: THE LOCATION

Location, location, location! Find a flat that is near to a public transportation station, if transportation is a priority. Consider if your shortlisted flats are close to your place of education or employment.

Flats that are conveniently located near shopping malls and community parks are ideal. Examine how the location of the flat will affect your commute to school or work as well as your commute towards your friends and family.

#3: THE BUDGET

Be honest with yourself and calculate your budget. Utilities are not usually included in the rent or purchase of a flat. Therefore, it is important to calculate the added costs of utilities when determining whether a flat suit your budget.

The gap between renting and owning a flat is massive. Stick with the guidelines of how much you can afford and avoid defaulting for non-payment.

#4: THE SECURITY

Lower floors or stories do not offer as much privacy compared as the higher ones because they easily be accessed. If your building is located near the main road or a busy area, higher floors or stories tend to be more peaceful.

Please examine the security arrangements in the housing complex (e.g., CCTVs) if you are keen on staying on the lower floor or story.

#5: THE INTERIOR

The interior’s cleanliness demonstrates how responsible the property owner is. However, there is more to see beyond its freshly painted walls. You should check the water pressure and find out whether the windows and doors are closing well.

Image Credits: pixabay.com

You should be given an inventory if the property was listed as fully furnished. During the first visit, you may establish whether all the items are part of the contract.

Sources: 1, 2, & 3

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How To Stretch Your Dollar When Decorating Your Flat

With the rising real estate prices and fast-paced lifestyle, people opt to live in HDB flats or apartments. Individuals find it convenient to live in these types of residences given that these are easily accessible to workplaces and commercial areas, offers facilities and amenities, and provides better security. Despite all these advantages, living in a flat means having to deal with a limited space in comparison to house.

In my quest to find ways to maximize the functionality and design of my space, I tapped my Interior Designer friend. Here are some tips that Interior Designer Krishna L. generously shared to me.

#1: PLAN THE SPACE

Having a small space requires identifying the distribution of areas. It is important to recognize the functions and activities that take place in each zone. Adequate planning makes it easier to know what types of furnishings are needed within the space. This helps save time and money for the owners. Personally, I love watching Never Too Small on YouTube as this channel shows how to plan space sections within micro-apartments.

#2: REMEMBER – LESS IS MORE

Given the space available, it is necessary to make use of the space wisely. Having too many things going on in a small space makes it cramped and chaotic. Avoid overcrowding the space and know which items are essential in order to conserve more space.

#3: ELEVATE FURNISHINGS

One way of giving an illusion of spaciousness is keeping things off the floor. Make furniture pieces and fixtures “float” – opt for sofa and tables with exposed legs and mount shelves on wall – to achieve an illusion of a bigger space. Not only does this make the space larger but also provides a room for additional storage.

#4: INVEST IN MULTI-FUNCTIONAL PIECES

A limited space requires flexibility in terms of utility and functionality. Looking for furniture pieces that provide more than one function can save money and space.

#5: MAXIMIZE VERTICAL SPACE

Condominiums and apartments often less square footage than a traditional residential space. Thus, it is better to take advantage of the walls. Use floor-to-ceiling cabinets or shelves for storage and display, mount wall decors and art or add tall plants to make the room appear larger.

Image Credits: 3aces.ph

#6: ADD MIRRORS

It is a well-known fact that mirrors can make a small space appear grander. Mirrors not only give the illusion of a greater square footage but also reflects natural and artificial light, thereby creating an impression of a bigger space.

#7: CONSIDER THE LIGHTING

Natural lighting provides a healthier well-being but also helps open up a room. However, condominiums have limited access to natural light since there are less windows. It can be useful to have a variety of artificial lighting to achieve a great atmosphere and warm ambiance within a space. Lighting placement can either make or break a space, so it must be thoroughly planned.

#8: FIND THE RIGHT COLOR THEME

Colors can influence the way we view spaces – lighter colors reflect light and give an illusion of space, whereas darker colors absorb light and diminish a space. In order to make a room feel larger, it is good to have the right color palette for the floor, wall, and ceiling. This does not necessarily mean limiting your options with an all-white interior; rather, use a color scheme that create cohesion and unity. Choosing monochromatic or neutral colors, for instance, can make the space feel airy, open, and visually bigger. Applying dark or bold color or pattern sparingly to accent wall, furniture, or decors can create depth, contrast, and personality to the space.

#9: CHOOSE THE FLOORING WISELY

Like color schemes, flooring surfaces can greatly impact the size of a space. It is better to avoid using a contrasting color for the flooring. Choose hues for carpets, tiles, and wood flooring that would complement the walls and ceiling to achieve continuity. Light-colored wooden floor planks that are either wide or long can make a space look bigger.

#10: ADD GREENERY

Plants greatly benefits one’s health. Having indoor plants can make the space brighter and lively. Moreover, it gardening is a good hobby to dwell on as you work from home or obey the stay-at-home notice.

Image Credits: unsplash.com

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4 Rental Tips For Expats In Singapore

Ring in the reality check! Singapore is a country which considers “space” as a luxury. Singaporeans do not usually keep their spare rooms open for annual guests to lounge on. More often than not, they keep these extra rooms for rental. You would be suprised to learn the amount of bedrooms that landlords can squeeze in a seemingly small condominiums.

It goes without saying that it is cheaper to rent out a single room than the entire flat. So, set a minimum bedroom requirement as well as a minimum size requirement before signing a contract. Equip yourself with rental strategies such as this.

UNDERSTAND THE DISTRICTS

What are the Singapore’s districts? Well, watching the Hunger Games series was probably the last time you have heard about a nation’s divisions. Similarly, Singapore’s districts offer distinct living experiences. You cannot get away from these categories as an expat or someone who is looking for a place to live at.

You must study the district codes initially. These codes tell you whether a rental unit is located at the core of the central region (e.g., District 10 including Tanglin Road), within the radius of the central region (e.g., District 2 including Chinatown), or outside of the central region (e.g., District 28 including Yio Chu Kang).

EMBRACE THE OUTSKIRTS

Location is one of the most important factors interplaying with the market’s property prices. Now that you have a grasp of the twenty-eight districts, you can distinguish between the “central region” and the outskirts. Rent is cheaper in areas away from the central region and the MRT (Mass Rapid Transport) stations.

The central region may not necessarily apply to your lifestyle. As Singapore is compact and accessible, odds are, you are about an hour away from the central region with public transportation. For instance, you can easily travel from the Boon Keng “heartlands” to the Orchard “central” through MRT or buses. You can even walk from one town to another (e.g., I once walked from Toa Payoh to Novena for 20 minutes).

Furthermore, the government seeks to make every town self-sustaining. Almost every neighboorhood has its own parks, shopping malls, and eateries. Ask yourself: Is a central location too overrated?

PLAN YOUR ROUTE

One cannot deny that we all have distinct personalities. If you are not a morning person and you find it difficult to allot an hour of leeway every morning for your commute then, opt for another strategy. Maximize your preparation time and lessen your transportation costs by finding an affordable place near your workplace.

As pointed above, location is an essential factor. Do a quick Google search on the possible routes you may take to get to your destination. Choosing the smartest way gets you to work on time. Being punctual is a respectable trait to have as an employee.

The humble country has a network of buses and trains. However, the vehicle interval or arrival time of buses is more unpredictable than the trains. Taking the MRT is generally a better choice.

CONSIDER THE HDB

In the recent years, more and more foreigners have warmed to the Singapore’s public housing or HDB (Housing and Development Board). Before you completely frown upon this idea, here are some of the reasons why this is a viable option:

a. There is a significant difference between private and public rentals. HDB flats with 2 rooms start at S$1,500. While, the same space costs about S$3,000 at private condominiums.

b. HDBs are usually walking distance from town facilities and public buses.

c. Food is insanely cheaper than the ones available at the condominiums as hawker centres are typically at the ground floor of the building.

Image Credits: pixabay.com

Image Credits: pixabay.com

If you are planning to stay in Singapore for a long period of time, staying at an HDB flat will allow you to absorb the local culture better.

Sources: 1, 2, & 3

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How Much Will It Cost To Live in USA, Singapore, Australia or Italy?

Cost of living is the total expense of maintaining a standard of living in a certain country. This changes over time and is often operationalized in a cost of living index.

In this chart is the comparison of the cost of living of four countries namely: United States of America, Australia, Singapore, and Italy.

 

Clothing And Shoes Ave. (in SGD) USA SG AUS ITALY
1 Pair of Jeans (Levis) 54.95 111.92 111.35 129.67
1 Summer Dress in a Chain Store (Zara, H&M, F21, etc.) 47.82 63.24 76.26 53.99
1 Pair of Men Leather Shoes 113.77 136.22 147.41 166.62
Total Clothing: 216.54 311.38 335.02 350.28
Rent Per Month Ave. (in SGD)
Apartment (1 bedroom) in City Centre 1,359.20 3,312.03 1,944.27 928.25
Apartment (1 bedroom) Outside of Centre 1,032.05 2,133.33 1,380.82 709.08
Apartment (3 bedrooms) in City Centre 2,313.77 5,955.30 3,335.58 1,634.16
Apartment (3 bedrooms) Outside of Centre 1,743.47 3,579.49 2,186.44 1,192.56
Total Rent: 6,448.49 14,980.15 8,847.11 4464.05
Ave. Salary After Tax (in SGD)
Monthly Salary 4,103.69 3,875.20 4,732.34 2,439.03

 

All the data were collated from Numbeo. It is a website that stores the world’s largest database of user contributed information about global living conditions.

Before discussing the variables in the chart, let us first explore a brief introduction of these four countries. United States of America, commonly referred to as U.S., is a federal republic country that is consists of 50 states. According to the International Monetary Fund, U.S. has the world’s largest national economy. It is considered as a developed country.

Australia, or Commonwealth of Australia, consists of the mainland and numerous smaller islands. In 2012, International Monetary Fund ranked Australia as the fifth highest per capita income among the world. It is also considered as a developed country.

Singapore, officially known as Republic of Singapore, is an island country in Southeast Asia. Despite its size, Singapore had the third highest per capita income around the world. It boasts its high regard on education, healthcare, and economic competitiveness.

Lastly, Italy is a parliamentary republic in Southern Europe. Human Development Report highlighted that Italy is a very developed country with its economy being the eighth largest in the world.

In the comparative chart above, Italy was shown to have the highest cost in Clothing and Shoes. Most of the famous chain brands originated from the U.S., which is why the country had the least cost on clothing and shoes. Furthermore, it is the reason why some items are cheaper when you buy it on its online store.

The Average Rent per Month is overwhelmingly dominated by Singapore. Renting a bedroom apartment at the city center will cost you about S$3,312.03 in Singapore. With that amount, a person can already rent two 3-bedroom apartments in Italy’s city center. The higher cost of rent in Singapore is due to the 718.3 km2 total area of land wherein millions of people reside.

Image Credits: Lina Hughes via Flickr

Image Credits: Lina Hughes via Flickr

Lastly, in most of the factors, Australia sits strong on the second place. Although rent and clothing may be costly in Australia, the average salary per month is S$4,732.34. It is the highest among the other four countries.

So, if you are moving to a different country and curious about its cost of living, look it up on Numbeo. It has been mentioned in internationally renowned newspapers and magazines such as BBC, Forbes, The Economist, and New York Times among others.

Sources: International Monetary Fund, Numbeo, and Wikipedia

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