If you are planning to settle and enjoy life as a resident in Singapore, there’s one important thing that you will have to address: getting accommodation. Of course you want to live in a nice condo, apartment, and neighborhood. But renting Singapore luxury condos can take a significant portion of your monthly income and you have to be careful about finding something affordable.
No matter your budget, there are steps you can take when searching for apartments to save you cash.
1. Dedicate Ample Time to your Search
Whether you are changing homes or moving into Singapore, you significantly increase the likelihood of coughing up more money if you don’t give yourself adequate time to look for the right condo.
If you have the opportunity, give yourself about a month for condo hunting. This involves conducting research, making inquiries and comparisons, viewing, and getting all the finer details. Ideally you have the opening first to shortlist apartments that suit your needs and style before you start dealing with the hassle of viewing available condos and making a decision.
2. Obtain all the Real Data you can get on Rental Prices
As the popular saying goes, “knowledge is power”, and this also applies to the tenant’s market when hunting for Singapore luxury condos. If you head into a negotiation without the necessary knowledge about the market prices, you are more likely to be ripped off. To find out what the real prices are for apartments in Singapore, look for data about the rates on government agency websites as these are more reliable.
3. Try to Find Poor Quality Listings
If you are really intent on finding affordable luxury condos in Singapore, you should try skipping the listings that have stunning photos and descriptions and search for the listings that don’t. The simple reason for this has to do with the law of supply and demand. Since you don’t have the time to go through all the available listings for Singapore condos, you are likely to focus on the listings with the most stunning photos. But if you are serious about finding affordable listings, try to focus on the listings with only one photo as the landlord and agent might be more desperate to find a tenant.
4. Avoid Condos with Amenities you Don’t Need
Many Singapore condos are certainly luxurious and come with numerous amenities, but ask yourself if you really need some of the amenities. Financially speaking, it is best to choose a condo that has the amenities you require and none that you don’t.
There are specific premium locations in Singapore where you will be paying more for what is nearby rather than what is in the condo itself. If you don’t have to live close to the city center, you will find it cheaper to pay rent for condos that are located a few kilometers further from the city center.
In conclusion, finding affordable luxury condos in Singapore is a matter of knowing what you need, and researching about where you can find it.