There may come a point in our lives where we wish to move out of our parents home. Having an apartment to call your own is always rewarding though it brings about a new set of challenges.
The cost of living in Singapore is one of the highest in the world. Renting a two or three bedroomed apartment can be very expensive.
Sometimes all you need is a small, comfortable place for yourself. Instead of sharing a bigger apartment with strangers, it will probably be more convenient for you to look around for a studio apartment.
A studio apartment is one big room that combines the living room, the bedroom and the kitchen. It also has a separate bathroom, and some even include a small balcony.
The average price of renting a studio department in Singapore is anywhere between S$523 and S$13,800.
However, if you are interested in purchasing a studio apartment in Singapore, the average buying price is $500,000.
What Are Some Benefits Of A Studio Apartment?
The several benefits of living in a studio apartment and some of these are listed below.
1. Lower Rental Costs
The cost of renting a two or three bedroomed apartment in Singapore is relatively high. It can create a significant strain on your finances, especially if you are on a tight budget. The rent of a studio apartment in Singapore is much more affordable, and you will be able to have decent accommodation at a price that is more pocket friendly.
2. Lower Utility Bills
Having air conditioners for an apartment that has several rooms will cost you much more in electricity as compared to having the same cooling system in a studio apartment.
Your utility bills will be much lower if you are living in a single room, and this will help to save you some extra money in month. In some cases, the rent of the studio apartment is inclusive of utility costs.
3. Less Clutter
Since studio apartments are small, you will not be able to accumulate much litter, and this means that the apartment will remain relatively organised.
It will also be easy to maintain because of the fewer items and the smaller surface area. This will save you a lot of time.
4. Easier To Clean
Cleaning out an apartment which has several rooms can be exhausting and time-consuming. You may even need to hire some help to get it done efficiently.
However, if you are living in a studio apartment, you can do all the cleaning yourself because it can be done faster with minimal effort. It will save you both money and time.
5. Conveniently Located
Most studio apartments are located near commercial areas or around transport terminals. Therefore, you can conveniently do your shopping or get access to transportation within the locality.
It will also be especially convenient if you manage to get a studio apartment which is near your place of work. You will make substantial savings on transport costs, and you will also be relieved from spending long hours in traffic.
Where Can I Start Looking To Buy / Rent A Studio Apartment?
There are many property websites in Singapore where studio apartments get advertised regularly. It will be helpful for you to go through some of these websites so as gain access to the different listings of apartments that are available on the market.
Some of these property websites are listed below:
99.co specialises in high-quality flats and condos, and they utilise suitable search mechanisms using maps that will help you to locate available properties. They also have a comprehensive list of distinct properties which you can easily access.
Moreover, 99.co has their own phone application that will help you to search for properties through your phone. You can get connected to a suitable piece of property with the help of a customer service attendant.
There is also a team of qualified engineers, data scientists and writers who are available on this website to provide guidance and support.
STProperty is known to have a wide variety when it comes to housing options. On the website, you can find HDBs, commercial properties, industrial properties, private residential properties and even properties located overseas.
They have a comprehensive database of articles where you can find a lot of useful information on properties. Their website also posts updates about new policies and rules concerning real estate in Singapore as well as the latest trends in the property market.
You will also find a unique inquiry feature called “My STProperty”. Using this feature, you can post an inquiry about any specific property. Once you have entered your name, email and phone number, you will be contacted by a representative who will give you the information that you need.
This particular property website has a good number of listings, and it is also known to offer reasonable prices.
Their system is very user-friendly, and you will find it very easy to browse through different types of homes. The list of properties usually get posted in real-time, and you will always find a friendly customer care agent who will be happy to answer any queries.
RentinSingapore is a very active site that specialises in rentals, and as an added service, they will also help you to find a suitable roommate.
PropertyGuru has a very comprehensive list of both residential and commercial properties. They also have a lot of educational information on property matters in Singapore.
On this site, you will be able to view video content on the relevant issues that affect the buyers of real estate.
They also provide regular updates on the prices of properties, and this will help in guiding you to make an informed decision as you look for the right type of housing.
Ohmyhome has an exhaustive list of homeowners, and you will have the benefit of connecting directly with them as you visit the site.
The properties lists given on this website are unique with no duplicates, which this makes it easier for you to peruse through and select the property that is suitable for you.
They also have a lot of guidance for property sellers and landlords including advisories on mortgages, marketing and finances.
iProperty specialises in the rental of condos and apartments in Singapore. They also operate iProperty TV, which gives an enormous amount of useful information to property seekers in Singapore.
Among their lists of rental apartments are studio apartments that are ideal for travelling business people or local Singaporeans who are looking for accommodation on a low budget.
This property site posts beautiful and accurate photos of the apartments that are available on their site.
They have a booking system which is quick and efficient, and they also have accommodating staff who possess excellent communication skills. If you are looking for well-serviced apartments in Singapore, Hong Kong or Japan, you can find them here.
They offer professional housekeeping services for all their serviced apartments, and they also have a maintenance team who provide services to tenants.
What To Consider Before Renting / Purchasing Your Studio Apartment?
As you continue to search for a suitable studio apartment in Singapore, here are some useful tips that you should know.
1. Pay Attention To All The Details
The information that you may receive about a particular property may not be comprehensive, especially if you are searching online. In cases where the details are not precise, take the extra step to follow up with a phone call.
This ensures that you have a full understanding of the terms before you commit. That may relieve you from incurring extra costs at a future date.
2. Get An Agent
The process of negotiating with homeowners can be very challenging, especially if you are new to the world of properties. Having an agent will spare you the time and pressure of having to meet with the landlord for negotiations.
Property agents have a lot of experience in this area, and therefore they will be able to get the best possible agreement in your favour. The agent will also be more informed on some of the legal procedures that could be required.
3. Make Use Of Phone Applications
Some property sites have phone applications through which you can access updates on available properties.
Ensure that you make use of these phone applications because you will be able to find a suitable studio apartment much faster. You will also have the opportunity to talk to a representative as you make contact through the phone application.
4. Consider The Environment
Consider the environment and surroundings where the studio apartment is. It could be in the middle of a busy commercial centre where there are plenty of shops but also a lot of noise and pollution.
If you prefer to live in a quieter neighbourhood, then you will need to consider the surroundings before you make a final decision.
However, if you prefer to live in a commercial area and the noise does not inconvenience you, then you can choose to take up a studio apartment that is near the business centre.
Occupying a new house typically requires some extra finances, and this is equally true when moving into a studio apartment.
The landlord may need for you to deposit several months’ rent before you occupy the house. If you do not have the cash at hand, it may become necessary to look for funds from other sources such as an urgent cash loan.
Ensure that you have sorted out the issue of extra funds before you locate a suitable studio apartment.