Lauer

There is this thing called Construction Loan; CMs LTV applied. After obtaining TOP, convert the Construction Loan into an ordinary Housing Loan. Cheers! (By the way, I believe that many of us would want to help, but buying a landed to rebuild is really a major project. Financially and non-financially. So I would avoid giving advice on some details such as the detailed quote without understanding the big picture, the budget and financial profile. For example, I would get a bit uneasy reading the 3500 sqf land size requirement, a semi-d, and then in the next paragraph, an insufficient budget for rebuilding?)

Here is a simple math, in costing landed viz-a-viz condo of same built-in: - Buy a landed (could be a terrace, corner, semi-d), tear down the old dwelling, and reconstruct for 4000 sqf - Buy a 4000 sqf condo, penthouse with rood terrace from a developer. If you reconstruct a landed, then you would avoid paying $1.2 mil for the condo developer's profit (at $300 psf multiply by 4000 sqf). Plus. When reconstructing a landed, the value of the newly constructed house is not equal to total cost. To illustrate: 1. Cost of original semi-d, say, was $3.5 mil 2, Cost of reconstructing a new semi-d of 4000 sqf (in this example), say, was $1.2 mil Total cost = $4.7 mil The value of this new house would be more than $4.7 mil, maybe $5.5 mil. Why? Because in reconstructing a new house, you are the house developer so surely you are entitled to a development profit. (Of course, this is subject to a continuing favorable market). Tallying $1.2 mil (the condo developer's profit that you have avoided paying) and $0.8 mil (the new house's equity) give you $2.0 mil. $2.0 mil is slightly less than 60% of the cost of the original semi-d of $3.5 mil. In other words, in reconstructing the landed, you would get about 60% of the FH land free. And don't forget that the penthouse condo is likely a LH too. Cheers!

Looking for a landed is much unlike, say, for a condo. I would suggest to retain an agent specializing in the district you are interested. A old original house is almost certainly occupied by the original owners, an old couple. Left on their own, they have no thought of moving, and also no interest in the money they could get by selling the house. When they do, the agent specializing in the district the house is sitting would be the first to know, and his clients would be the first he approaches. Therefore, it is important to get on his client list. The landed stock is limited, and if you intend to reconstruct (by tearing down the old dwelling), then the plot has to be FH. So this would further limit the stock. Another reason to retain a good agent. (Landed owners could tell you that there are numerous flyers in their mailboxes from agents asking if their units are for sale) Cheers!

I always thought that it is odd that landed would not be the first choice of housing, if you are a citizen of Singapore. (That is, if affordability or financing is not an issue). Landed is far more cost attractive when compared to condo. It has limited stock, at about 65,000 units, and there is growing number of new citizens. Having said so, you should enjoy landed-living before buying. Also, buy FH not LH. Btw, if you building a new house, building an identical one to your neighbor is, well, lack of identity.

Nevertheless... Enjoy!

In my 2-cents thought, there is not much point in buying a landed to do an extensive A&A. It is either: - You found one with the architecture (and of course, the location) that fit 90% of your requirements and then resolve the 10% via ID. Or, - You found an old 1-storey, original condition, maybe built in the 1960s, but sitting on a nice location, then tear down the old dwelling to do a new erection. Just do the sums and you would know what I mean? Cheers!

A good pricing, provided that the $300 psf is based on GFA. Cheers!

This is super super cheap for a 3.5-storeys corner terrace reconstruction. Congratulations on getting this super super deal.

Enjoy!

It is approaching the time of the year to spend some time elsewhere. I will like to wish all a happy renovation & prosperous 2013. To all who celebrate it, a joyous and merry Christmas. (Keep a watch over Gold) http://www.youtube.com/watch?v=T43XdDMTXfI&feature=youtube_gdata_player Enjoy!

I am... But more shows at Condosingapore than here leh. Enjoy!

Tio. Wah, you are architect arh? Enjoy!

Er...a rant? Enjoy!

Can pay them a bit to cover the rest, if you wish. I am sure that your neighbors will appreciate the gesture. I have even screened my whole compressor from view, LOL. Cheers!

Sorry, but the entire bundle should be properly bracketed (normally using PVC) and secured. The opening to the compressor should be covered. This is standard installation that one can expect even for HDB. Nicer to look at and not creating an eyesore to the neighbors. Probably the only places that I have seen done this way are at the old shop houses along Jalan Besar, Balestier etc. The insulation just will not last longer this way, turning brittle when exposed to the local weather. Cheers!

MAS announced new cooling measure for residential property. The game of musical refinancing chair stopped... From my favorite singer, Enjoy!

Robinson. I don't know if other places carry it? Cheers!

OIC, there is already an attic. And the wooden platform is 6m x 4m already? And all you want to do is to increase the headroom, keeping the existing wooden platform? So what is the floor area of your 2nd storey? Cheers!

Wah, I didn't know that BCA also sells outdated drawings. I suggest that you should fast hand fast leg go & complain to get your money back. To obtain a building's TOP, the architect has to submit the "As-Built" drawings to BCA/URA. As the name implies, "As-Built" means as actually constructed because sometime there might changes made during construction. (Like in my case as mentioned this morning, tearing down a new wall and did it differently, LOL) So obviously what you have on hand are not the "As-Built" drawings mah? Cannot la, have to submit again. I can think of 3 possibilities why they didn't proceed with the 3rd storey: - The PE chickened out, or miscalculated, the load bearing for the 3rd, - Fail the GFR, - Fail the height limitation, although unlikely. Cheers!

Aiyoh, both are correct mah if we speak of rate of change. Going up faster, coming down also faster, LOL. But one look at the chart and I threw it away because you can see that prices of landed were above Apartment/Condo in 1997-1998 (index norminal at 3Q1998) then flatlined, went below in 2006-2009, and then cheong above again in 2011-2012. This is obviously ridiculous, so blame the URA scholars who are comparing apple with orange in a price index chart. URA calculates the psf of landed based on transaction price / land size; they don't care if a single-storey building sit on it or 3-storeys. And then for strata landed or townhouse, they calculate as transacted price / GFA (sorry, don't like the term built-in). Also, what is the sample size for landed? At this period which is relatively hot, one can count in one hand the number of caveats lodged per district per month? It is this kind of confusion caused, from chart or otherwise, that sometime one can find real bargain in landed, especiially in 2009. Like Therat said, must go and dig la... Cheers!

Do you think that Gold price can double from USD1790 per 100 oz today, in 2-years time? Come and cast your vote... Have funs!

I am certain that she is wiser now, LOL. Once bitten twice shied...whereas blocking the light is permanent? Another thing is doing it where people expect it. Just like your glass railings at the stair? People walking up or down the stair expect the barriers, so unlikely to walk through a glass railing right? Of course, it can still happen la... Cheers!

Just my thought. I use Bona "Wood Floor Cleaner" (recommended by the flooring installer) like once every 2 months; otherwise just water. If one mops the floor with strength, then of course there will be scratches la. Mopping is about using the water/liquid to dissolve and clean away the dirt, use so much strength only tire oneself mah? Regarding matt or glossy finish, it is the individual preference, the look-&-feel of the floor. Glossy finish is shiny and feel plasticky to step on, while matt finish is more natural (great if you enjoy seeing how the wood ages). Cheers!

Mezzanine? Lovely idea... Here is a song, McCartney said it is a sad song, about not attaining the end of the road he was heading. But somehow it gave me inspiration to continue on when facing a hurdle. Hope that you get the same in your journey. Here it goes... Enjoy!

Wah, please turn off all the -ism la, teacher. Turning off the mind-exercise leh... Enjoy!