House Tour | How To Save Money When Buying HDB

The cost of buying a house can actually add up a lot of if you are not careful. In this video, I will give you a quick home tour of my house, total cost of buying my house, and I will share with you tips and tricks on how to save money when buying a house in Singapore.

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0:00 - Introduction

0:52 - Home Tour

2:13 - Cost of buying my house

Here’s how to save money when buying a house:
4:25 - Apply for BTO
If you are a Singaporean and is not in a hurry to move to a new house, apply for BTO. A BTO is always cheaper than a resale house about 15-20%.

4:52 - Apply for grants
Always take advantage of the HDB grants whenever possible, and you could save 10s of thousand of dollars. Seedly article on HDB Grants: https://blog.seedly.sg/hdb-cpf-grants-bto-vs-resale-flats/

5:25 - Find the house yourself
If you are buying resale HDB and is not rushing for time, find the house yourself instead of engaging a property agent. You can easily arrange the house viewings yourself. HDB also improved their HDB portal to simplify the buying process. With that being said, a property agent can help you in finding houses, arrange house viewings and negotiate the price for you.

6:37 - Save on renovation
Try not to spend too much money in renovation. Or if you are buying a resale HDB, try to find a house that is fully renovated and suit your taste. According to an article by SingSaver, the average renovation cost for a 4 room resale HDB is $58k, but since my house is in near perfect condition, I only had to spend $12k. https://www.singsaver.com.sg/blog/average-cost-of-home-renovations-singapore

If you do not require fancy renovations, go to a contractor rather than an interior designer. Most of the time, a contractor is already experienced enough to propose design ideas to you, and do the job for you at a much cheaper rate.

8:28 - Save on furnitures
Instead of getting your furnitures in Singapore, get your furnitures from Taobao. The furnitures there are so much cheaper. Always remember to sort the results by order count to get the most popular stores.

Or if you need to test your furnitures, buy your furnitures from Johor instead. Refer to this article for the locations of the popular furniture shops: https://www.theweddingvowsg.com/jb-furniture/
Most of the shops are bunched up together so you can just walk around from shop to shop.

Prepare your Malaysia Ringgit when heading over because they will need you to pay on the spot. If you are afraid that you will get robbed, use the Revolut of YouTrip card instead. It is basically a prepaid card where you use an app to topup SGD, then use the card to pay in MYR.

The great thing about these cards is they do not charge exchange fee, and the exchange rate is comparable or even better than the money changers in Singapore.

10:27 - Save on electronics
Charge your big purchases on a credit card. Use a unlimited cashback card like HSBC advanced.

Many electronic retailers like Courts, GainCity, Harvey Norman has a lowest price guarantee. Take advantage of that. The easiest way is to go to Millenia Walk where it has GainCity and Harvey Norman. Go to the first store, ask for quotations for all of your electronics, then request for discount. Walk to the second store, again, ask for quotations, then request for discount. If the price of the second store is higher than the first store, ask them if they can give further discount.

Finally, just get the electronics from the respective store which gives the lowest price.

Видео House Tour | How To Save Money When Buying HDB канала Kelvin Learns Investing