Remember the time you bought a top for $30… and then saw an almost-identical one, 3 shops down, going for $20?
You definitely don’t want the same scenario with bigger (much, much bigger) purchases.
Want to find out how much your home is worth? Check exactly how much your neighbors just sold their flat for? Condo rental rates?
HDB and URA have tools to help you find out right away. We compiled all of the tools to help you rent, buy or sell smartly. Or, you know, if you just want to be nosy like we were:
The thing about resale HDB flats is that there’s no standard price or a definitive way to determine how much it’s worth. When you’re browsing these HDBs for sale, you might find that prices vary even for units along the same street or even in the same block.
So a good gauge of market value is to check how much other HDB flats have been sold for. Simply select the flat type, the area you’re gathering intel about and the time period, to find out the recent resale HDB flat prices:
And you’ll be able to find out everything, from the block number of the unit to the years left on the lease and, of course, the resale price.
Similarly, you can use the rental price tool to check the prices of HDB flats that were recently rented out in any particular area:
This tool estimates how much you may get from selling your HDB flat.
This is based on how much you’re planning to sell your HDB flat for, minus your outstanding mortgage loan amount, your CPF utilised towards the purchase of your flat (which will be reutrned to your CPF account) and any other outstanding payments.
Find out how much you can get from a HDB loan when buying a flat:
Based on your employment record, monthly salary, and existing financial commitments, you can get an estimated loan amount, as well as estimated monthly instalment based on the current interest rate and a repayment period of 25 years:
If you already have a loan amount in mind, you can also use the Enquiry on Monthly Instalments tool – fill in your intended loan amount and repayment period, and it’ll work out an estimated monthly instalment based on the current interest rate.
Note that if you’re intending to get a HDB loan, you’ll first have to obtain a HDB Loan Eligibility (HLE) letter (this is super important – no letter, no loan!).
Bank loan estimates
Various banks also have home loan calculators to calculate estimated loan amount and monthly payments needed (this is applicable to both HDB or condo, as long as you’re planning to take up a bank loan):
Similar to the resale HDB price tool, you can also check the resale prices of condos in a particular district, or even zero in on units in a particular condo:
If it’s new launches you want to find out more about, you can also check the prices of private residential units sold by developers (in other words, new condos!)
And again, you can check rental rates of condos in the same way!
Accessing the market value of your home
Whether you’re selling or buying (or renting), one of the first steps of your home journey is always to evaluate how much you can get out of your home or your budget for a new one.
Need more intel? Check out how much other homes are going for on Carousell!