How to buy a room or small flat: what to check and what to write
A room, a studio flat and a share are different things
On the market, “a room” can be several different things. A studio flat is a small separate home, usually with its own bathroom. A room in a hostel-type building often has the bathroom and kitchen shared on the floor. A room in a shared flat is part of a home where the other rooms belong to other people. Sometimes you also meet a share in a flat. Price, risks and the chance of getting a home loan are very different in these cases, so state the type of property at once.
What to put in your request
- area — the city and neighbourhood;
- type — room in a hostel-type building, studio flat, room in a shared flat, share in a flat;
- budget — an amount or a range, if you want to name one;
- size — in sq ft;
- facilities — own bathroom and kitchen or shared;
- condition — renovated or needs work;
- floor — for example, not the top one;
- documents — registered in the seller's name, separated share, co-ownership;
- payment — cash, home loan, instalments.
Example: “I want to buy a studio flat in Singapore, about 200 sq ft, with its own bathroom, renovated, not on the top floor. Documents must be clean and in the seller's name. Payment in cash, budget up to $38,000.”
What to check before buying
The main question is what exactly you are buying. For a room in a shared building, find out whether it is registered as a separate property in your name and not only a right to live there. If it is a share in a flat, ask whether it is separated on paper and whether the other co-owners have a right to buy first. Sometimes you have to get their written refusal.
Check who is registered at the address and whether there are dues for utilities, an attachment or a mortgage. If you plan a home loan, ask whether such a property qualifies, because banks do not lend against every kind of room. Before the deal, show the documents to a lawyer. Also look at the wiring, pipes and windows and ask what the monthly maintenance charges are. A common mistake is going only by a low price without finding out why it is so low.
How it works with BlaBlaPrice
Owners and agents reply to your request in the chat: which property, price, documents, photos. The request is checked before it is shown, and BlaBlaPrice shows the best offer by content first. Sellers see where they stand among the others, so they often improve their terms. Your contacts stay hidden until you choose whom to give them to. More: how it works.
If you are still deciding between buying and renting, look at rooms for long-term rent. Other types of housing are in the “Rooms” section.
