When embarking on a condo investment, securing proper financing is crucial. In Singapore, there are various mortgage choices available, but it’s essential to familiarize oneself with the Total Debt Servicing Ratio (TDSR) framework. This framework places a cap on the amount of loan a borrower can obtain, taking into account their income and existing debt obligations. It is advisable to understand the TDSR and seek guidance from financial advisors or mortgage brokers to make well-informed financing decisions and avoid overstretching oneself.
4. Request a Detailed Proposal
5. Communication and Professionalism
Once you have narrowed down your list of potential contractors, request a detailed proposal from each one. This should include a breakdown of the project scope, timeline, materials, and costs. Compare the proposals and make sure that all the necessary aspects of the project are covered. Be wary of contractors who give a low initial estimate, as this could …