House Moving 101 - Pre-purchase, Renovation And Pre-Moving
My interest in Investment sparked when I joined a local brokerage house in 2007. From then on, I attended workshops, seminars and courses learning about stocks trading, index trading and property investment. I have attended countless of them over the last 10 years.
Ever since I learnt from the experts that HDB flat is no longer an investment asset (Pinnacles at Duxton is a different breed), I persuaded my husband to sell our matrimonial HDB flat in Serangoon in 2009. It was a neat sum of profits which we then invested it in a condo to live in, a condo to rent out, an overseas property and 2 private investment funds.
Soon after, we sold off the condo we live in as it was already close to 20 years old and was on a 99-year lease. We didn’t want to hold on to a leasehold property for too long because the reducing tenure will impose loan difficulty for the subsequent buyer, thus suppressing the price. With the profit from the sale, we rented an apartment for a period of time while waiting for a good time to buy a freehold condo in this lull resale market.
We have just bought one and the renovation of our new house is completed. We are now slowing furnishing it and will only move in mid November when school holiday commences.
After having renovating and furnishing 4 residential units, we have, more or less, a good idea of our lifestyle needs and will only do the necessary renovation and furnishing according to that. We also evaluate whether the renovation and furnishing will add value to the house should we decided to sell it years later, because all buyers have different tastes and substantial renovation may not add value to the property. We wouldn’t say we would stay in this place till the end of our lives, but every house we acquired we treat it as an investment piece, with reasonable Return on Investment. In short, I would still want to ride the property cycle.
In the next few blog posts in November, I will share my experiences on some issues pertaining to house purchase and products/services that we use for our house. Here’s a glimpse on what I would be sharing:
Pre-purchase
- Executive Condos or Built-To-Order HDB Flats
- Single Ownership
- Engaging Mortgage Broker
- Home Insurance
Renovation
- Blinds
- Ion Paint
- Air Purifier cum Insect Repellent
- Water Filter
Pre-Moving
- Renovation Inspector
- Pre-move Cleaning
- Moving services
Ever since I learnt from the experts that HDB flat is no longer an investment asset (Pinnacles at Duxton is a different breed), I persuaded my husband to sell our matrimonial HDB flat in Serangoon in 2009. It was a neat sum of profits which we then invested it in a condo to live in, a condo to rent out, an overseas property and 2 private investment funds.
Soon after, we sold off the condo we live in as it was already close to 20 years old and was on a 99-year lease. We didn’t want to hold on to a leasehold property for too long because the reducing tenure will impose loan difficulty for the subsequent buyer, thus suppressing the price. With the profit from the sale, we rented an apartment for a period of time while waiting for a good time to buy a freehold condo in this lull resale market.
We have just bought one and the renovation of our new house is completed. We are now slowing furnishing it and will only move in mid November when school holiday commences.
After having renovating and furnishing 4 residential units, we have, more or less, a good idea of our lifestyle needs and will only do the necessary renovation and furnishing according to that. We also evaluate whether the renovation and furnishing will add value to the house should we decided to sell it years later, because all buyers have different tastes and substantial renovation may not add value to the property. We wouldn’t say we would stay in this place till the end of our lives, but every house we acquired we treat it as an investment piece, with reasonable Return on Investment. In short, I would still want to ride the property cycle.
In the next few blog posts in November, I will share my experiences on some issues pertaining to house purchase and products/services that we use for our house. Here’s a glimpse on what I would be sharing:
Pre-purchase
- Executive Condos or Built-To-Order HDB Flats
- Single Ownership
- Engaging Mortgage Broker
- Home Insurance
Renovation
- Blinds
- Ion Paint
- Air Purifier cum Insect Repellent
- Water Filter
Pre-Moving
- Renovation Inspector
- Pre-move Cleaning
- Moving services
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