druid

Hello, I am budgeting for a new terrace house. A candidate house I saw comes with an extended kitchen. I am thinking of building a new floor above the kitchen so I can create 2 additional rooms that will adjoin the existing 2 rooms of the second floor. I do not own the house, hence I think I cannot ask a builder to come in and give me advice and a quote. So I am hoping if anyone can advise the possibility of the idea and perhaps provide an estimation of cost involved. This will help me to make a more informed decision. Thank you very much in advance for helping me out.

I was away on holiday, and I totally did not expect this fast response from everyone. Thank you very much for all the thoughtful and informative replies. I am just weighing my options; hence I have not clearly identified the house. But based on my search at PropertyGuru, and the likes, there are inter-terrace (FH/999) around $1mil. So I was basing my calculations on that low figure. I was thinking of building a two-storey house with about 2000 sqft built-up area. That will be twice the size of my current HDB house. (So I think it should be comfortable). So based on kardtoon’s cost estimation guide, it will be $500k + $55k + $65k = $620. Wow! I think I need to save more before proceeding Thanks for all your inputs! PS: Does an open air roof garden counts as a built-up too (as compared to a normal roof).

Hi, firstly I would like to thank all the contributors of this forum. The knowledge I gained from reading the posts has been invaluable. I am a newbie and this is my first post. 1. I am considering of buying an old inter-terrace ($1mil) and do a rebuild ($300k). 2. I plan to sell my HDB flat. I should be able to get $500k (cpf + cash) for it. 3. Hence, I will have cash for the 20% house downpayment; and for rebuild cost. 4. So I just need a $800k loan for the bank. 5. But the problem is the bank told me that I cannot tear-down a house to rebuild. This is because the house will have no collateral value when demolished (for rebuild). So in order to proceed with the plan, I will have to take on mortgage and construction loan (which, from what I understand, can be tedious and constraining). 6. I hope somebody can advise me how one can take a home loan and do a rebuild. Thanks.