by KENNETH WONG 
When considering the purchase of a home, it’s essential to be well-informed. Here are ten critical points to keep in mind:
No 1 – Review your credit scores and clear all relevant outstanding as they can significantly influence loan approval and interest rates.
No 2 – Choose a knowledgeable estate agent and mortgage officer early in the process. Get the right advise early so that you will not be disappointed.
No 3 – Discuss your debt and income with your loan officer to understand your buying capacity. This is to avoid over stretching your ability.
No 4 – Identify your down payment sources, which don’t always need to be 10% of the home’s price. Review bank loan offers, withdrawals from EPF to aide in your down payment.
No 5 – Get prequalified for a loan to understand your price range and your monthly commitment.
No 6 – Set a realistic price range for your house-hunting. This is to keep you focus on what you can afford.
No 7 – Make a wish list for your ideal home but be prepared to compromise. We may not always get everything we wish for.
No 8 – Select a real estate agent who understands your needs and the local market. Consider their advise as they are the property expert who can help you.
No 9 – Consider the additional costs of homeownership, such as taxes, insurance, and maintenance. These are monies you need to set aside apart from your down payment.
No 10 – Stay informed about market trends and how they may affect your purchase. Observe what is being launch in the market and how they would affect your decision making process.