In a bid to empower consumers with real-time, reliable information about their properties and the property market, we have made a groundbreaking development to our innovative Homer AI platform. Today, you can test out the beta version of HomerGPT — your AI property expert — that makes your property transactions seamless, well-informed, and secure.
HomerGPT empowers you with valuable information about your home
It is designed to provide homeowners like you with invaluable insights about your property and the property market. Here’s what you can expect:
Key Features of HomerGPT
1. Home Valuation
HomerGPT employs advanced algorithms and real-time data to provide you with precise property valuations. Whether you’re buying, selling, or simply curious about your property’s value, HomerGPT has you covered.
As you would already have registered your property with Homer, which will gather all your property details such as your property type (HDB or condo), the model of your property (4-room, 5-room, etc.), unit size, floor level, and address, you won’t have to give HomerGPT all these details when asking it information about your home.
Why is getting a home valuation so important?
Understanding your home’s value can assist you in establishing a more accurate and potentially higher selling price for your property.
A home valuation is an evaluation of your property’s value, primarily grounded in past transactions of comparable-sized units within the same vicinity. With Homer and HomerGPT, we exclusively incorporate the most current and dependable data to guarantee accuracy in your home valuation.
2. Latest Property News
HomerGPT keeps users updated with the latest property news, market insights, and any changes that could affect their investments.
3. Interest Rates
Understanding interest rates is crucial when it comes to property financing. HomerGPT offers real-time information on prevailing interest rates, helping users make informed decisions about loans and mortgages.
Why is staying updated with interest rates so important?
- If interest rates experience an upswing, you will inevitably see your monthly repayments rise.
- It will help you make well-informed choices about your home loan. In a scenario where interest rates are on the rise, you may consider refinancing to a fixed-rate loan to secure a lower rate for more stability in your monthly repayments.
- The impact of interest rates extends to the overall cost of the home throughout the loan’s duration. Even a slight increase can lead to substantial interest payments over time. To illustrate, consider a standard home loan with a 3.5% annual interest rate; over time, you may have to pay approximately 23% of the property’s price solely in interest repayments.
- As interest rates rise, landlords may find themselves compelled to raise rental rates in order to cover their increasing mortgage payments.
4. Property Transaction Data
Access comprehensive data on property transactions, providing insights into recent sales, rental trends, and price movements in your desired areas. This information is extremely valuable for those entering and/or exiting the property market.
Ask HomerGPT your property-related questions today!
Your AI property expert, armed with precise data from reliable sources, is ready to provide you with all the information you will need about your home. Ask HomerGPT your questions here.
Should you sell your current home now and buy a new property?
Everyone’s situation is different, so the answer to this varies. To find out whether it IS a good time for you to start a property journey, drop us a message on WhatsApp to reach any of our Super Agents.