House hunting

Almost every weekend, I have been looking around at properties for sale preparing myself for the eventual purchase. Since last year, I have been going around with my son and son-in-law, looking at new launches and resale properties. My son-in-law is also looking for a new house.

Unfortunately, the properties market has shot up and everything has gone up alarmingly. I have been to view some new launches of condominiums. All the show flats were dressed up to entice the buyers with a lot of trimmings. Notice all doors are never installed to give it a spacious feel, and a lot of glass used to brighten up the place. They look more like a five star hotel suite, like a matchbox, with prices to match. With swimming pool, gymnasium, BBQ pits, the maintenance charges are also high.

Nearer where I live, it has become almost impossible to buy anything within my budget. So I have to move away. This places me in some dilemma, because I am hoping, that I still can come back to my church to perform my sacred duties.

What to buy? I am open about it. However, paying over a million for an apartment of matchbox size, I think it prudent to also consider paying the same amount for a landed property in the outlying area.

Last weekend, I viewed three properties, recommended by my agent. The first one at Springside was quite nice except that the three-storey terrace house, owned by a Chinese family, was rather cluttered and dark inside. Probably a complete renovation would put it right. It was also in a quiet neighbourhood where guests can park their cars by the side. At $1.5M, it was rather stiff, blowing my budget.

The second property at Mandai Road, was an eye opener. Not far from the first house, it was very bright and nicer looking. A semi detached house facing a short row of terraced houses opposite, it sat in a cul-de-sac. Owned by a friendly Chinese family, it was very well maintained and very impressive as well. Featuring three storeys, it was tastefully furnished. Except for a complete repainting and redecorating, that would have sufficed, except that my son was thinking of knocking down a wall to extend the kitchen. The neighbourhood was very nice and airy, with plenty of greenery, and near a golf course, and a eating place frequented by my son and son-in-law. At $1.7M negotiable, it shot my budget as well. However, the owner was in no hurry to sell and me, in no hurry to buy, the agent has asked me to negotiate. Since I have not received my money yet, I will sit on it until I am ready, and see by then if the property would still be available.

The third property, though not far away, was located at Springleaf Villa. New condominium about two years old, it had five storeys from basement to roof top garden. Interesting layout, the modern Malay family is migrating to New Zealand and is selling the place 'lock stock and barrel'. That means everything inside including the tv, furnishings and a pool table! The apartment was very clean and well maintained but the rooms were quite small. At $1.45M negotiable, it was within my budget but the timing was not right for me. Moreover, it was situated quite far from the main road, a 15 minutes walk, I have to pass on this one. Incidentally, the agent is staying diagonally from this apartment. The maintenance fee is $330 a month, with swimming pool. Sigh!

Prior to last week, I had viewed an HDB Penthouse at Sin Ming Court. Quite spacious, it was rather cluttered by the present owner, and I envisage that I will have to carry out much renovation work, to do it up to an acceptable condition. At $750k, it needs to be re-valued as the price is too high. Again, time is against me.

The Extraordinary General Meeting (EGM) will be held on 25th August, and I will attend to listen to the update, and hopefully a more accurate timeline will be issued, as to when we can expect to receive our money.

Till then....