What Common Factors Affect the Buying Decision of a New Homeowner?

Thursday, Oct. 27, 2022| Tags: Landed property Singapore, Design and building services, Home construction, Home remodeling services, Home renovation, House contractors Singapore

What Common Factors Affect the Buying Decision of a New Homeowner?

According to the National Association of Realtors, the average age of new homeowners is 33 years old . In Singapore, you can purchase a home at age 21, either for yourself or for your family. You can also acquire a land-based home, and Singapore will be happy to show you your possibilities.

Before investing your hard-earned money, writing out all the requirements for a new home will force you to consider whether you meet them all. A home is a significant financial investment, including opportunities Landed Property Singapore agrees to, so choosing one is not something you do when you wake up. Before finalizing the deal, consider the following things.

Financial Factor

Your new home's price will be determined by the amount you set aside. Be prepared financially for any required home upgrades or home remodeling services . These are essential to help you adjust to your new house more easily.

Economic Factor

Any purchase choices a new homeowner makes will need to be based on this. You must first determine your financial situation before looking for a home that fits within your means. Finding the ideal home is difficult, but it is possible with diligence. Never forget to set aside money for home renovation


Location Factor

The placement must be in line with how close it is to the office or how far it is from the grocery store and other local amenities. Future prices change in the real estate market may also be influenced by the location. The ideal areas can be determined by asking house contractors Singapore for suggestions.

Environment Factor

Along with the physical environment of your new house, this also refers to the social environment. The physical environment includes the surrounding natural resources, the neighborhood's maintenance standards, and noise and pollution. Status, social connections, lifestyle, and security are all aspects of the social environment.

Neighborhood Factor

You can choose between a busy city and a peaceful property on a hill. A bustling neighborhood can be fun for mingling and having a place to belong. For a quiet and secluded new house, consider moving to an area where the closest neighbor is across a mountain.

Home Features Factor

You might get inspiration for your new house at open homes. They would probably advise making home improvements, but it all depends on your taste. To plan or build the home you have envisioned, you can look at houses for sale in the market or contact design and building services.

Housemate Factor

The people who will be residing with you in your new home should also be taken into account. You should know what your housemates' needs are. Your home construction will be in a way that makes it a family-style home if your family consists of both adults and youngsters. A home for bachelors and bachelorettes can be a basic cottage with just two rooms and the essentials.

Home Sweet New Home

It's not out of the question that your new house fulfills all of your desires. You will eventually have to make a decision based on what is best for both you and your new house. In the end, since you will be the one residing in your new home, all decisions are ultimately up to you.


  • https://www.linkedin.com/pulse/7-important-factors-influence-buying-decision-pallabi-chakraborty/

  • https://www.therealtalks.in/what-are-the-factors-that-influence-a-buyers-home-buying-decision/

  • https://www.fool.com/the-ascent/mortgages/articles/this-is-the-average-age-of-first-time-home-buyers/#:~:text=So%2C%20just%20how%20old%20is,for%20the%20two%20years%20prior.

  • https://www.dbs.com.sg/personal/articles/nav/my-home/buying-your-first-home#:~:text=At%20what%20age%20can%20you%20buy%20a%20house%20in%20Singapore&text=Same%20criteria%20whether%20you%20buy,Parents%20and%20siblings

  • https://hrmars.com/papers_submitted/10295/factors-influencing-housing-purchase-decision.pdf