Here’s about our house in the wedding prep.
We went the “Singaporean style” of getting married – ie. house first. Haha.
We went to the showflat sometime just after my birthday last year, and we confirmed on the spot.
Seems quite surreal, I was hoping to get DBSS or resale flat (of course money is an issue too) even before we decide on housing.
Dream come true? : )
I even found a friend being our neighbour in the neighbouring block. LOL.
Our House, Completing in 2014: Belvia
Belvia is located at mature housing estate, along Bedok Reservoir Road. The road address would be Bedok Reservoir Crescent. Very near to expressway (another plus point for me to get the driving license hurhur), and minutes walk to future MRT.
Our “popular” question received from friends would be – “How come still choose Bedok Reservoir when there are so many people jumping in?”
Err, it’s a LOL question I guess. The location is great since it’s near The Pau’s parents’ house – we got the extra grant. And it’s not exactly very near the reservoir. Furthermore, it’s quite near our favourite 630 food centre.
So not really an issue for us : )
Anyway, there would be 6 blocks in Belvia, each up to 14- or 15-storey high. We’ve gotten a 3-room flat, 66 sqm, on the 10th floor.
The 3-room flat’s living room at the showflat:
The Living Room – with a little balcony.
The Kitchen – with built-in stove, cabinets, oven.
The Master Bedroom – with built-in wardrobe
The Washroom – with ready tiles and vanity top
We’ve joined a Facebook Group for Belvia, and the people there are really helpful in keeping track of the construction progress ;p
How it look like in Dec 2011:
And in Jan 2o12:
And in Feb 2012:
I can’t exactly describe how I feel, from visiting of the empty site, to its dismantle of showflat, to bringing in the machines etc.. Feels like our “dream” of living together as married couple is materialising bit by bit.
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We have gotten the DBSS because of it’s location – Bedok probably would not be having any more BTO since it is such a mature estate, and it’s very near to The Pau’s parents’ house (And I love Blk 85 chicky wings LOL).
Because we would have consider a resale flat, we decided to go for DBSS, since there is no high COV and it would be a brand new house with furnishings (except ceiling lights and furniture). BTO would be out of our choices due to balloting and location.
For couples considering DBSS/BTO/Resale, probably here are some pointers to think about before purchase:
– Location
The location would be closely related to the affordability. For us, the premium cost (it can be 2 times more than normal BTO flats) can be justified by the location. Furthermore, we do not need to spend much on renovation currently.
A resale or BTO flat’s renovation can be quite high if hacking of walls are involved. But of course, you must like the DBSS layout first.
– Affordability
For booking of DBSS, you would need to put 20% of Purchase Price as deposit. It may be refunded if your CPF Ordinary Accounts have sufficient funds, usually upon getting the grant/loan disbursement.
Monthly installment of loan would be on progressive mode, that is, once piling starts, payment will start – it can be from $30+ onwards till the full monthly installment amount. It will be earlier than BTO, which young couples might want to take note.
– Loan
What’s good about DBSS is that we get to take loan from HDB. Current interest rate is 2.6%, that is only 0.1% above the interest rate offered. Bank loans can offer very attractive i/r in 1st year, but usually 2nd or 3rd year onwards, the i/r will be very high. Of course, subjected to availability of refinancing, that is.
– Other Points to Note While Getting a House
It would be good to start setting aside some amount under CPF investment (OA), probably 5 years prior to getting a house. For myself, I find it good, as my OA gets wiped out, I still have about $7000 “locked up” under CPFIS-OA.
It would be good, especially for employees – During times of unemployment, you could sell away the investment so you need not worry about payment for the house. Depending on your loan amount, $5000 could very well last for about 8 to 10 months of payment.
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Going for our Marriage Prep Course this Sat, and the photoshoot gown selection on Sunday.
Can’t wait! : )
The Fatty Rie 