Important Things to Think About Before You Sign a Lease in Singapore

sign lease

When you sign a lease to rent a property in Singapore, you are essentially committing to living in that space for the entire length of the lease term. This may be for six months, nine months, a year or longer. More than that, you are also committing to paying that rental payment to the landlord each month on a regular schedule. You certainly need to find a place to live, and renting may be the best option. However, where you live, the lease term and the rental payment amount are all factors that you have control over before you sign the lease. Therefore, think about these important things before you sign your lease.



Changes in Your Living Situation

Your personal life has a major impact on where you live. If you are a single person, you may want to find small, affordable property rentals in Singapore. However, if you are seriously dating someone and may plan to get married soon, selecting a shorter lease term or a larger space may be a wise decision. If you plan to have a baby or if there is a chance that your aging parents or other relatives may need to live with you soon, these are also personal situations that may impact how much space you need to have. Avoid committing yourself to a space that may not meet your needs in the near future. Instead, opt for a shorter lease term or a space that may grow with your adjusting needs.

 

house spacing

living situations impact how much space you need

 

Changes in Your Financial Status

financial status

 

It is not always possible to predict a change to your financial status. For example, you may not know if you will lose your job in the near future. However, some changes may be easier to predict. You may be about to graduate college, and you may anticipate getting a better paying job in a few months. You may not want to lock yourself into a long term lease on a cheap apartment if you can afford to live in a nicer area in a few months. Spend time thinking about how your financial status may change and how this impacts where you want or need to live.

 

Changes in Your Professional Life

Changes in your career or work life could also impact where you live. You may believe that your employer has plans to transfer you to a new location in the near future, or you may have plans to leave your current job and to look for employment elsewhere. These are just a few of the types of professional changes that could affect your desired lease term and rental property.

 

travel to other places

 

A person’s life can change significantly over the course of a short period of time, or it may remain rather static for years on end. Not every change can be planned for, but many are anticipated. Before you sign your lease, think about how any of these types of life changes may impact where you want to live and how long of a lease term you may be willing to sign.

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