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My first viewing session
By Derek  •  March 24, 2014
I went to an up coming property launch near to my place yesterday with my mom. I have to admit that I had a bit of inferiority complex because property is for the rich and I’m just your lower middle incomer earner. The launch is at a pretty inaccessible area. The nearest bus stop is about 15 mins away. Hence I was expecting lots of cars in their make shift car park. However to my surprise, while the carpark was full, I see several people coming in cabs too. They dressed very ordinarily too. Maybe these are the really rich ones? I wonder if it would probably be different if I’m viewing one in the Core Central Region? In the corner of my eye, I can see many agents swarming the entrance ready to pounce. I had my agent with me and they all backed off almost telepathically. Many of my observations were similar to Property Soul, there were definitely more agents than buyers. I wonder if it is because I am early – I was there at11am. No photos allowed in the show flats – as a first timer, I do not know if this was allowed previously. First thing is to understand the geographical area of the property. While, I’m familiar with the area, I do not know the future development of the surrounding areas. My agent showed me the URA masterplan and another plan (can’t remember the exact name) detailing the future plans for the surrounding site. I think this is critical as it will affect the future value. Next is the layout of the property. Things like unblock view, pool view, noise from the tennis court, ground and top floor units usually (not necessarily) have higher ceilings etc are kind of new to me. Then comes Feng Shui – entrance cannot face the west etc. I’m glad my mother came as some of the pointers in getting a HDB also apply here. Finally, went to visit the individual show rooms. True to Property Soul’s observation, I also don’t see marble floorings or bathtub, although their toilet is definitely big enough to accommodate one. My agent also explain the type of rooms e.g. long vs square, space efficiency and lighting. I am not sure if the reputation of the developer also plays a part. I was told that Fraser usually has better furnishing but I’m not sure if it also equates to less defects and/or a higher premium? Read: http://www.todayonline.com/singapore/shoddy-workmanship-new-yishun-ec-shocks-some-residents In all, it was a fruitful experience and I picked up several pointers. Definitely not as intimating as it seems but I will still need several more rounds before I can go solo. If you have any interesting experience or additional pointers, I would love to hear them.
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By Derek
Derek is an investor who follows Peter Lynch style of investing. He prefers to use simple and straight forward information for stock analysis. He started TheFinance.sg with the intention to bring together all bloggers and professionals who are interested or already in the area of Finance and Investing, and to create a community where everyone is free to write and to share their articles, experience and opinions.
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