Type

Strata-Landed (Cluster Homes) - a mix of landed and condo lifestyle. Typically, enjoying spaciousness of a landed properties and condo-style facilities such as gym, swimming pools, manicured landscape and basement car park. These could be terraces, corner terraces, semi-detached or bungalow.  There are also those within a usually large condo development.

Buying Direct From Developers

There are several advantages in getting a property from the developer such as:

Brand New Property

Everything in the house will be new and smells new… the walls (newly painted), the appliances (first ownership), the fittings, the furnishing, the pipes, the electrical, the roof, the car park.  Every part is ready for you.  For newly launch project, typically the owner gets one full year of ‘warranty’ against defects. You decide on how you want to enhance it with interior deco, suitable to your family and your lifestyle.  If you need recommendation, we could possibly get you good contacts of designers and contractors.

Being the first owner, there is no need to be concerned about previous documents, proprietorship and unqualified renovations. You start the value of your investment for the future. It will be easily to secure loans and likely securing your retirement comfortably.

Financing by Progressive Payments

Developers typically launch their properties upon approval from the authorities and then start the construction. Mortgages will be done in stages of completion and in instalments. To book, typically you will need to pay 5% of the purchase price. Thereafter, within 2 weeks, you need to pay 15% of the purchase price as down payment, stamp duty and legal fees. The rest of the payment will be progressive dependent on the different stages of completion.

Some finance institutions and banks may work with the developers to offer attractive mortgage packages for prospective buyers. We could recommend bankers or mortgage specialists for you to engage.

The low interest rate is a great attraction for you to consider the higher valued strata landed homes.

Defects Liability Period

Another great advantage of having new equipment, furnishings, fittings is you get to enjoy ‘warranty’ against any defects during the first year from completion. You would have to inform the developer after collecting the keys and the developer will repair or replace the defected items.

Special Prices or Incentives

For new developments, buyers do enjoy special prices for their commitment to buy, sometimes before the show gallery or showflat are ready. Early buyers could possible enjoy paper gain right away. This is where you need to be in contact with a good real estate consultant for details. In some cases, developers may have only a few properties left and provide great incentives to get the development to be 100% sold.

Choice Units

When a developer opens a new development for sale, usually this is done in phases. Being the first, you would have all the units released to select. Typically, in a launch event, the availability of choice units would be done in an open ballot system to be fair to all prospective buyers on who could buy earlier.

Bulk purchases within immediate family group or corporates are usually given priority over single purchase buyers. If you are looking for a row of units next to each other, this would be the best time.

Request for Minor Adjustments

Since the development has not been built yet, you may be able to request for minor adjustments, such as removing a wall. This is subjected to regulations and approval from the developers.

Consultants

Do engage the services of real estate consultants for a better understanding of the development. We are trained in different aspects and we work in a team to help you get the best offers you can enjoy.