WaterBay Punggol EC

[Amber2012]

Thanks. But may you explain what is the meaning of "caveats lodge"? I have no idea what it is.

 

[foxxkat]

You see the location is 2 bus stop away from the MRT. How can the selling point be near MRT?

Near MRT some say is the selling point.
But how near is near? It is about 750 mmter or further.
Walking distance?

"Near" MRT is just very subjective. Indeed, there's almost nothing within short walking distance.

i always have an issue with claims of "near mrt" or "5min walk to mrt". generally, such claims on brochures or coming out from an agent's mouth are guaranteed bullsh1t. i saw a brochure claimed "2min walk" from Parc Centro to mrt, i just have to lol. 2min will get you from your unit's door to the 1st floor, if u're lucky.

as a general rule, multiply by 2to3 whatever minutes they claim it takes to walk to mrt. because how they measure is assuming that you start from the edge of the site to reach the edge of the mrt walking in a straight line without traffic at the speed of the world record fastest walker. so legally it's still "Walk", not run.

best to do your estimation how long it will take to get from your unit to the mrt platform.

and "near mrt" will be the gimmick going forward. why? take a look at the planned MRT expansions. which part in sg for the masses will not be "near mrt"?

/end of ranting

sorry just hate the games developers are playing.

 

[Amber2012]

By this time, I'm sure many home seekers know this trick from developers. And I'm sure many of them don't take what's claimed at face value. I would think it's silly to accept all that's advertised.

 

[earthyblue]

i always have an issue with claims of "near mrt" or "5min walk to mrt". generally, such claims on brochures or coming out from an agent's mouth are guaranteed bullsh1t. i saw a brochure claimed "2min walk" from Parc Centro to mrt, i just have to lol. 2min will get you from your unit's door to the 1st floor, if u're lucky.

as a general rule, multiply by 2to3 whatever minutes they claim it takes to walk to mrt. because how they measure is assuming that you start from the edge of the site to reach the edge of the mrt walking in a straight line without traffic at the speed of the world record fastest walker. so legally it's still "Walk", not run.

best to do your estimation how long it will take to get from your unit to the mrt platform.

and "near mrt" will be the gimmick going forward. why? take a look at the planned MRT expansions. which part in sg for the masses will not be "near mrt"?

/end of ranting

sorry just hate the games developers are playing.

It's a simple trick which even you would use.
If you go for an interview, you would "sell yourself" to your future employer on how good you are. Who in the right mind would sell himself badly?

Everyone will have a bit of a sales element in him/herself. As a buyer you just have to do your own checks. If you depend on what you hear and don't go and check for yourself, your interests is at stake not others.

Coming back, I think we all know what developers and agents advertise. For a property near to MRT, it is a selling point but a deterrent to some.

I have a car, I don't need a condo near to MRT. It is of course a selling point to be near MRT. But if I buy something near to MRT and have to pay $100-$200psf more, to me its foolish.

Take for instance a 1000sqft condo at $150psf more. I pay $150,000 more for same size. My rental price would probably fetch $300-$500 more per month than another unit which is further away from MRT.

Give it $500 more per month which works out to $6000 more per year>
$150,000 / $6000 gives us 25 years.

So if I pay $150,000 more for a condo near to MRT, it would actually take me 25years to recover this $150,000 extra. On top of that, I am paying interests on this $150,000 more, just because I want something near to MRT.

Seriously if I am a tenant, I wouldn't even be bothered whether this condo is near MRT. I am only interested whether a condo nearby is much cheaper in terms of rental, though I walk a bit more. That's my take on investing in properties.

Nowadays I look at properties which are slightly further away from MRT, not that far. There will surely be a property nearer to MRT that pushes the prices upwards which in turn makes my property which is further away appreciate as well, (and I don't incur that much on interests)

 

[SKWSMC]

It's a simple trick which even you would use.
If you go for an interview, you would "sell yourself" to your future employer on how good you are. Who in the right mind would sell himself badly?

Nowadays I look at properties which are slightly further away from MRT, not that far. There will surely be a property nearer to MRT that pushes the prices upwards which in turn makes my property which is further away appreciate as well, (and I don't incur that much on interests)

If you have a bicycle will you tell your employer you have a transport? Selling is ok but have has some fact behind it.

It is true when the market is good. However if the market take a down turn. You might not be able to sell or rent out at all.

 

[tapiocaflash]

There's quite some negative comments about the developer QJ. See this thread from another forum:

Breaking NEWS: New EC Launching in Punggol Central? - MyHomeTown.sg - Forum - Living In Our Neighbourhood - Private Housing

Anyone has comment to share? Is this normal for developer to attract this much complaints?

 

[wahapure]

Who buy natural loft (Bishan DBSS) need to smile la... only 425K for a 5-room unit at Bishan with decoration/lucky draw of car;

where to seek in current market? Qingjian quality ok la, although i think it is not as value for money as when it started the project in Singapore years ago

 

[bakasa2002]

Who buy natural loft (Bishan DBSS) need to smile la... only 425K for a 5-room unit at Bishan with decoration/lucky draw of car;

where to seek in current market? Qingjian quality ok la, although i think it is not as value for money as when it started the project in Singapore years ago

Of cos' you can't find this in current market cos' it was launched more than 3 yrs ago ... On the same note, I rem Clover by the Park was selling about 900k for a 3br, now is worth more than 1.5mil.

I have never been into Natura Loft unit, only to the showflat but from the look of the exterior of what QJ built, I dare say it looks better than Clover.

 

[earthyblue]

There's quite some negative comments about the developer QJ. See this thread from another forum:

Breaking NEWS: New EC Launching in Punggol Central? - MyHomeTown.sg - Forum - Living In Our Neighbourhood - Private Housing

Anyone has comment to share? Is this normal for developer to attract this much complaints?

Every projects in Singapore also have complaints.

If you are talking about a project with 100 units, 10% of people complain is 10 owners.

If you are talking about a project with 800 units, 10% of people complain is 80 owners.



Last time FEO got tonnes and tonnes of complaints on how bad their quality is and the material they used, but look at their sales figure. Top in Singapore.
Everyone have different benchmark in terms of defects. Like for instance if marble got 1 line on it, it can be a defect for some people, but to me, I think it is part of marble. I can accept something, doesn't mean others can accept.

I had a friend who bought from a developer years ago and keep complaining on the defects. The developer tell my friend that if he is really not satisfied after all the work is done on his unit, the developer offered to buy back the unit at the price he paid for. Guess what, this friend of mine, just kept quiet and never complain again. lolAnd now he is still staying in this unit, doesn't want to sell back to developer.

 

[SKWSMC]

Every projects in Singapore also have complaints.

I think it is not that defects found by these buyers. It is how QJ handle it.
I still remember someone bring up that the parquet flooring filling is empty. How the worker repair that? They screw 2 holes fill the filling and nail 2 nails there. No cover up. So you can see the piece of parquet with 2 nails on it. This is ok for you?
Another 1 complain is on the door, that is a long story. Can go find out. Also it is not the defects but the way the thing is handle. And a lot more but these 2 really catch my attention.
Of course not every unit has the same problem. If you want to try your luck then well no1 stopping you.

 

[earthyblue]

I think it is not that defects found by these buyers. It is how QJ handle it.
I still remember someone bring up that the parquet flooring filling is empty. How the worker repair that? They screw 2 holes fill the filling and nail 2 nails there. No cover up. So you can see the piece of parquet with 2 nails on it. This is ok for you?
Another 1 complain is on the door, that is a long story. Can go find out. Also it is not the defects but the way the thing is handle. And a lot more but these 2 really catch my attention.
Of course not every unit has the same problem. If you want to try your luck then well no1 stopping you.

With social media everywhere, everyone these days will make use of social media to give "threats", in order to make others give in.

When my flooring is spoilt, i get the contractor to get it done and over with. What is the point of me posting everything on the internet? So that I get my way and get free gifts?

Singaporeans are like this. Their way of doing this making it big on social media so that they can get "vouchers" and "rebates".
If not I really eat full so free go and set up blog and post all these? I might as well bring my kids out to play.

Every Apple phone sold, someone will get a lemon and the iphone still sells millions.
Every Samsung phone sold, someone will get a lemon and the phones still sells millions.
No matter how the lemon complains, bottomline is the product still sells. Just like no matter how many people complain about the govt, they are still ruling us.

 

[SKWSMC]

With social media everywhere, everyone these days will make use of social media to give "threats", in order to make others give in.

When my flooring is spoilt, i get the contractor to get it done and over with. What is the point of me posting everything on the internet? So that I get my way and get free gifts?

Singaporeans are like this. Their way of doing this making it big on social media so that they can get "vouchers" and "rebates".
If not I really eat full so free go and set up blog and post all these? I might as well bring my kids out to play.

Every Apple phone sold, someone will get a lemon and the iphone still sells millions.
Every Samsung phone sold, someone will get a lemon and the phones still sells millions.
No matter how the lemon complains, bottomline is the product still sells. Just like no matter how many people complain about the govt, they are still ruling us.

As i say it is not about the defects, it is about how they handle it. As to what their intention is, I won't rule out the intention to add pressure on the developer. But the complain true. Yes caue it is support by photo. Can you accept you praqet floor with 2 nails on it? Your bed room that is slant to 1 side and scratching the floor? And that is after the repair.

 

[derong07]

Hi Amber2012 & other forum members who are interested in Waterbay,

You can check out the floorplans and details of the Waterbay EC at the website ( propertydurian dot com)

There are draft floorplans of most of the units available and the eligibility conditions for an EC in case you are wondering if you are able to apply for an EC.

*Target E-Application Date:*
*12th – 16th October 2012*
*(Friday – Tuesday)*

*Target Balloting & Booking Date:*
*19th October 2012*
*(Friday)*

Pardon me for doing a bit of marketing here. Please feel free to give me a call if you need more info and/or you are interested in this project.

Darren Lim
(HP: 91443311)

 

[peggy76]

Noob question here ... i was wondering how does the whole booking process work? Wld the showflat be opened for viewing before application date? I have the impression dat viewing is only opened on the application date .... never been to one so dunno how it works.

For 2nd timer, wld we also be accorded 80% loan like 1st timer? Or lesser?

 

[derong07]

Hi Peggy76,

Yes, the showflat will be opened to the public for viewing between 12th to 16th Oct (E-Application period) before the official balloting day on 19th Oct. For EC, interested buyers will have to do an E-Application first after you have looked at the showflat and then you will have to be present at the showflat on balloting day to collect your queue number (after that you can then book the unit you want when it reaches your queue number on balloting day). Actual prices will most probably be out on balloting day itself.

For EC, you will have to take a bank loan and you can get a loan of up to 80% if you do not have any existing housing loan. Hope this info helps.

Do give me a call if you are interested and I can bring you around the showflat when the showflat officially opens.

Darren Lim
(HP: 91443311)

 

[peggy76]

Tks Darren. We are still serving our loan for our current flat, so i guess it's not possible for 80% loan?

 

[derong07]

Tks Darren. We are still serving our loan for our current flat, so i guess it's not possible for 80% loan?

Hi Peggy,

1st and foremost, do ensure that the MOP (Minimum Occupation Period) for ur current flat has been fulfilled so that you will be eligible to apply for an EC.

Next, yes you are right. Unless you proceed to fully pay up your current housing loan, you will only be eligible for a 60% loan. However, one way to work around this is to opt for the DPS (Deferred Payment Scheme) offered by the EC developer. With DPS, you may get 80% loan. However, you must sell off your HDB flat about 6 months before the TOP of the EC to settle your outstanding housing loan. And this means that you will have to seek a temporary housing alternative for this 6-month period until the TOP of the EC and the collection of keys for your EC unit.

Hope my explanation is clear to you. =)

Darren

 

[peggy76]

Yup, we've fulfilled the mop. Tks for the clear explanation, it's alot clearer to me now . Will discuss with hubz if he wants to settle current loan fully should we decide to get a place at waterbay

 

[SKWSMC]

Yup, we've fulfilled the mop. Tks for the clear explanation, it's alot clearer to me now . Will discuss with hubz if he wants to settle current loan fully should we decide to get a place at waterbay

Just to highlight taking DPS mean extra 2% on the purchase price.

 

[derong07]

Yup, we've fulfilled the mop. Tks for the clear explanation, it's alot clearer to me now . Will discuss with hubz if he wants to settle current loan fully should we decide to get a place at waterbay

Hi Peggy, you are most welcome.

Yes, taking the DPS option will be about 2-3% higher for the purchase price so settling the current loan first and taking a 80% loan using the normal payment scheme will be a good choice if possible.

Feel free to call me anytime ya.

Darren Lim
(HP: 91443311)