la casa

The recent economic downturn has resulted in housing prices dropping, especially for private properties. This opened up another option for us as we do not mind forking out a little bit more or staying slightly further away in a condominium.

A new shining gem in Buangkok where life begins! With its modern features and stylish landscaping, The Quartz is resplendent with a dazzling array of recreational facilities you can imagine!

Located just 3 minutes from Buangkok MRT & minutes from shopping malls, library, bus interchange, good primary & secondary schools and quick access to city via major expressways.

The Quartz comprises 625 units, spread over 9 blocks of 17, 18 & 19 storey condominium units.

We had just visited the showflat and honestly speaking, the quality of the furnishings were not as high as Natura Loft, but the layout was slightly more spacious. There were only 5 units left with the cheapest unit being priced at $756000 (108 spm). However, even at that price, it was already much cheaper than the initial launch price of $900000.

Nevertheless, I would say that the condominium facilities were quite impressive. On top of that, there is a 24-hour supermarket and foodcourt within walking distance. For those who are concern about safety, the fire station is just down the road. Accessibility wise, The Quartz is just minutes away from the MRT station and the Kallang-Paya Lebar Expressway

With potential for future developments, it looks to be a promising area to stay in. The high price is quite a deterrent so we shall be on the alert for any sub-sales in the coming week.

1. The L-shape sofa is perfect for lounging and looks comfortable enough to take naps on as well.
2. This bathroom is bright and the mirror is simple. Its elongated shape allows multiple users for that rush hour mornings. Most importantly, tha tap is situated such that water flows right into the centre of the sink. How often have you washed your hand only to find that the tap is too close to the edge?
3. Another bathroom idea with a wide mirror and rectangular toilet bowl.
4. A double layered shoe cabinet saves space and the attached mirror allows for last minute check before leaving the house. A must-have for all women.
5. This kitchen looks sleek and pristine without being too industrial. The colours goes well with each other.

With the downturn looming ahead, many sellers are looking to dispose of their property in view of the dropping property prices. In fact, in some neighbourhoods, prices have dropped by as much as 25%, as described in the article from The Straits Times, 17 January 2009.

Buyers expect property prices to fall even further and they are looking to buy only “in the third or fourth quarter of this year”.

The reason is simple: Analysts are predicting further uncertainty in the economy and home prices may fall another 10 to 20 per cent.

On top of that, property experts have even heard of developers who waive the maintenance fees in order to entce buyers, among other sweeteners.

It seems like at this moment, private property has become an option for us. If prices drop into the $400k to $500k range, I would not even mind staying at a place away from my preferred area.

We have been invited to select a flat at Natura Loft. The letter was sent on 2 January 2009, and our appointment was schedule on 12 January 2009.

However, we will not be accepting the invitation because after careful considerations, we are not able to afford such a huge downpayment. We risk wiping out our entire savings and having to start from scratch thereafter, with our hard-earned money locked in while the flat is being constructed.

As much as we like the flat in question, we had to realise the practicality of it and give up the chance.

We believed that so long as we remain positive about it, we will eventually find a place of our own which we like within our budget.

The application for the HDB loan eligibility was submitted on 23 December 2008 and we received the offocial approval today. It was approved quickly enough, considering how government agencies procrasinate over such applications, especially over the holiday season, and from the stories heard from an agent.

The steps to go about the application are as follows:

1. Go to the online application website here.
2. Complete all required details on the website and submit the form after verification.
3. Print out a copy of the application and have both parties sign the agreement.
4. Prepare a copy of both parties’ latest 3 months payslip.
5. Prepare a copy of both parties’ lastest 15 months CPF contribution.
6. Label all documents accordingly with the HLE no. and NRIC of the relevant person.
7. Submit the compiled documents to HDB by post, fax, email or drop-off at the HDB Hub.

The approval letter will indicate the maximum loan amount entitled, eligible flat type, maximum repayment period and monthly instalment.

From then on, you will be able to proceed with the purchase of the flat that catches your fancy.