Before you close on your new house, your lender will require you to buy homeowners’ insurance. Shop around and compare insurance rates to find the best price. Look closely at what’s covered in the policies; going with a less-expensive policy usually means fewer protections and more out-of-pocket expenses if you file a claim. Also, flood damage isn’t covered by homeowners’ insurance, so if your new home is in a flood-prone area, you may need to buy separate flood insurance.
Your first home in Singapore is a big purchase maybe even the biggest one you’ll have ever made up to this point in your life! So make sure you are mindful of things and take the right steps only.