Everyone knows that property is all about location, location and location.
In today’s article, we take a look at how to choose the right neighbourhood.
Firstly, you have to look at your family situation.
Do you have young children that will be attending school soon, are you planning to stay for a long time or will it be a short term stay?
If you have young children who will be going to primary school soon, then the priority should be a neighbourhood where there is easy access to primary schools.
I’m sure you have heard of parents buying property in certain districts where the “branded” schools are located.
If you are not too particular about the school that your child will be enrolled in, then you have to consider how your child will get to school.
Is it within walking distance, and how convenient is public transportation if you are not a vehicle owner?
Next to consider would be amenities.
How close are you to a grocery store, convenience store, cafes, and restaurants?
If you and your spouse are both working, you may not have time to cook and would depend on take-aways or food delivery.
In most neighbourhoods, you can find a “local” shopping mall, such as Waterway Point in Punggol, Compass One in SengKang, AMK Hub in Ang Mo Kio etc.
Other amenities to look out for would depend on your interest/hobbies such as public libraries, community/sports clubs, parks etc.
Almost every HDB town would have a community centre, sports facility, public library and polyclinic.
For nature lovers, there are several parks islandwide, Punggol Park, which stretches from Hougang to Punggol, through Sengkang, is a good example. Other areas with parks include the East Coast and West Coast.
Commuting time & public transport
Another factor to consider is your commute to work and the transportation options available.
You need to know how long it will take to get to work.
How near is the MRT station or bus stop? Is it within walking distance? If you drive, are the major expressways within easy access?
It may be a good idea to take a drive during peak hours to see if the traffic is manageable and how long would it take to reach your workplace.
If you are planning to stay for a longer period, you should try to find out about the future developments in the neighbourhood.
Future developments can change a neighbourhood and increase the demand for properties there.
You can check out the Urban Redevelopment Authority’s (URA) Master Plan (MP), which guides Singapore's development in the medium term, over the next 10 to 15 years.
Source: Urban Redevelopment Authority
The MP is reviewed every five years and shows the permissible land use and density for developments in Singapore.
Check out the property's value
You can use the HDB website, to find out the transacted prices within the past 2 years. This will give you an idea of the way the prices are trending.
Now that you know how to choose the right neighbourhood, you can visit MOGUL.sg, with its smart search functions to find out properties for sale there.