Seems impossible to get anything without $1M. Where to find that money?
$$$ is always something confusing for me.
How do I know how much I need to fork out upfront?
How much installments monthly?
Can I come up with that sum monthly without fail for the next few decades?
What additional costs are there? Like that Additional Buyer's Stamp Duty (ABSD) thing? Ok this one doesn't affect me, can ignore. Anymore?
How much does furniture cost?
Sent a housing loan application form to UOB and got an in-principle approval for $1.2M. Wow seriously? I never thought that in the eyes of MAS, I have the ability to shoulder such a hefty loan. Even with that new Total Debt Servicing Ratio (TDSR). Not on my own of course, but still, I'm flattered.
By the way, it's a pain to fill in the form. Especially the part where we had to declare the credit cards we own, credit limit, minimum sum payment and interest rate. I mean, surely MAS could find out for themselves easily? Or it's some honesty test?
I have never been in favor of getting a condominium. I thought fencing up the whole development is stupid. Just inconveniencing the residents. Must either walk one big round to the main entrance or use some dingy side entrance instead of cutting across blocks. But time to eat my words all for the sake of money. Face it, HDB can never fetch a price better than private unless it's a trophy unit.
My wish list
- No bay windows! That's paying for space you can use to put a few potted plants at best.
- No ground floor unit! Sure, a garden sounds fun, but I also believe that there will be at least one neighbour from hell out of those ~15 people living above me. Gonna get my patio littered and yet I'm not allowed to shelter it.
- No balcony, if possible! Really don't see the point of paying for space that can only be used to dry clothes. If allowed by the condo committee at all.
- No aircon ledge! Actually, impossible. The days of dangling compressors are long over. Unless I buy a really old resale.
- 3 toilets will be real sweet.
- No teeny-weeny bedrooms. I still can't shake off the image of my friend's bedroom that looks like the maid's room. Or maybe that is the maid's room.
- Near MRT please... poor no car, will be even poorer after sinking my fortune into the house.
- No west-facing! Read that the evening sun will roast the house and the remnant heat will 炖 the house at night.
- In developed estate, can? Later no amenities like Sengkang at the beginning. Even the roadside trees had trouble growing up.
- Mother said no 三岔口 road-facing like our current unit. I try.
- Not near the BBQ pit. Don't want to smell BBQ every weekend.
- Having lived in low-floor units all my life, I hope to get something high off the ground. At least 6th storey. Less mosquitoes I hope? And no garbage truck smell.
- Not too near the top either. Kena baked by the sun everyday.
- Regular-shaped house so that we don't have to custom furniture.
NOT like this!
Brother roped in a professional, X, who recommended a new development at one of the newly-announced up-and-coming estates. Not so new; construction has already begun. 2 blocks have even called for the 10% foundation payment already.
3 bedroom compact
969 Sqft
1) 02-02 $1,133,500 ($1170 psf)
2) 03-02 $1,139,500 ($1176 psf)
3) 04-02 SOLD
4) 05-02 $1,151,500 ($1188 psf)
5) 06-02 $1,157,500 (1194 psf)
6) 08-02 SOLD
7) 09-02 SOLD
8) 11-02 $1,187,500 (1225 psf)
9) 12-02 $1,193,500 (1232 psf)
10) 13-02 $1,199,500 (1238 psf)
11) 14-02 $1,205,500 (1244 psf)
12) 15-02 $1,211,500 (1250 psf)
13) 16-02 $1,217,500 (1256 psf)
14) 05-05 $1,123,400
15) 04-05 $1,117,400
16) 03-05 $1,111,400
Expensive. OMG even level 2 unit costs $1.13M. But this already sounds like a better deal compared to that Woodlands unit. Did X recommend these because they fit under the loan quantum or really all are like this now... All units are north or south-facing.
恶补now! Same unit number refers to units on the same stack, which is one vertical column of the building. Googled for this development for pictures of the showflat, floorplan, comments, anything! There's even a forum where home owners shoot questions, share sales progress, construction progress (complete with site photos which they risked their lives to take) and payment progress.
I could really feel my pocket wincing, watching the price hike by $6k for every floor higher. But from another perspective, isn't $6k a small price to pay for a higher unit?
I was apprehensive.
Sceptical Sotong: If it's so good, why isn't it sold out yet after being launched for nearly a year? Anything wrong?
Zen Sotong: Located at a soon-to-be former resting place. I don't have any issue with that. Bishan also like that what. How can anything be wrong when it's right next to the MRT? +++ already! Not an MRT at a corner of Singapore, but near town. +++++!
Sceptical Sotong: So stack 2 seems rather unpopular. Why so many left unsold from this stack?
Zen Sotong: Calm down, this doesn't mean something must be wrong. It could just be because the type of units are less popular or more expensive due to more superior qualities. Other people cheapo, just want to buy the cheapest one.
Sceptical Sotong: But this stack is west-facing ley. Not directly, but one side of the house lah. Sister did mention that her room is very warm at night from the evening sun. Although our unit is not west-facing, her room still gets hit by the sun.
Zen Sotong: But if we get a high-floor unit, hopefully wind will save the day? Maybe the new BTO nearby will block lor. Anyway, bright is better than dark. I think. There's still aircon if all fails.
Sceptical Sotong: Road-facing unit! Noisy! Fengshui said cannot face road! And got the 三岔口 that Mother really anti.
Zen Sotong: Sure, there's a major road nearby, but our unit is not like super near it.
O you are talking about that minor road right outside? Seriously, how many houses in Singapore have NO road outside? Even the coveted landed properties are not exempted. By the way, 三岔口 is like everywhere. You will surely be able to spot one from at least a point in your house.
Yes, the stacks on the inside inside are not facing the road, but they are sold out already. And it might actually be a good idea in the sense that we don't have to walk so far just to get out.
Sceptical Sotong: Downstairs is carpark entrance! Noisy, not to mention the pollution!
Zen Sotong: True, get a higher unit lor.
Sceptical Sotong: Noise travels upwards (according to best friend W).
Zen Sotong: I verified this claim online. The theory goes that noise from the street bounces upwards off buildings and this phenomenon can be observed in places with many tall buildings close together. Stack 2 is unobstructed, so I guess it's not affected! Moreover, according to best friend J, she does not find her house noisy despite TPE being just downstairs. I also do not recall hearing any traffic noise.
Sceptical Sotong: Facing a giant construction site!
Zen Sotong: *Sigh* just bear with it. Maybe I won't be living in it anyway. I don't know.
Sceptical Sotong: XX camp right across the fence. Later every morning get woken up by training noises and kept awake at night by flood lights! And there's a school right next door.
Zen Sotong: Don't think lights will affect stack 2. Training and school noises... :( There's a mildly-popular primary school nearby, might do the value good.
Sceptical Sotong: Fengshui said the stove cannot be against the same wall as the toilet bowl/sink!
Zen Sotong: SHUT UP.
Ya lah, there's a lot of things to check if we really want to consider fengshui. What beam position lah, but we don't care.
The construction company seems like a reliable one.
To bite the bullet, or not?
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