After 18 apartment viewings, from 5-Room to EA (Executive Apartment) to EM (Executive Mansionette) we finally signed and made the deal… for a 149 sqm EA!

How we ended with this deal was nothing short of amazing!

First off, we were actually looking for a 5-Room flat. But many friends advised us to seriously consider leveraging on the HDB concessionary loan (which would mean that we needed to upgrade to EA or EM, cos’ of HDB’s condition for using this special loan) After doing our sums, we felt that this might be a wiser move.

By the 10th or 11th viewing, we actually found something we really like, but it was a little over our original budget. It was a EM in the area we preferred, and we quite liked it cos’ it was very well designed and done up. We had very little to fix up if we got this place. Key concerns tho’ was that it was not as spacious, and had few storage places.

After praying that nite, we made an initial offer… but hesitated to jump at the 1st counter offer from the owner. On Thursday, I was thinking that I might be quite happy to make a final offer of $505k, and we were quite ready to go it!

Interestingly, that very day we decided to view 2 more units.

The very last unit we viewed was at Block 249. Up to this point, we’ve been concentrating on blocks in the 600 or 700 series. This particular ad (which was online) caught my attention, and I decided to check it out. What stood out about this unit was that it was valued at $392k! (Most EA units were valued at at least 450 – 470k).

As we took the lift up to the unit on 5th floor, I reminded Lil that we should probably ‘manage our expectations’. We can’t really expect ‘much’ from a unit that is valued so ‘low’.

True enough, it was no designer house… but it was really well-kept. It was awfully spacious…
3 bedrooms, plus 1 large study room, 1 kitchen, and 1 huge living room. Best part is- they were asking for $425k… Needless to say, we ‘fell in love with it’!

It was a fairly quiet neighbourhood, very windy, and surprises of surprises, the block is right next to the Multi-Storey carpark. This was originally one of my key requirements! which I had forgotten, but God didn’t forget!

So that night we talked and prayed as a family when we got back… and made the offer of 18k COV (Cash over valuation). After a few rounds of negotiation between Peter (our housing agent) and the other agent, we finally agreed on $418k!

The very next day (Friday nite, 8pm), we went down again to ink the deal!

The owner had requested to move out later (cos’ it’s exams time in end October; and their girl goes to a nearby Primary school). We were quite reluctant as first, but God prompted me to be gracious to the their request.

It turned out that b’cos they were open to contra (which was Lil’s hope+prayer all along) we’re actually getting this flat earlier, otherwise it’d be easily another 1-3 months more because we’d have to wait for the 1st deal (the sale of our current house) to go thru 1st, before we can proceed with this purchase.

So if all goes well, we’ll be in our new house (after some fixing and renovation) by end 2008!
We’re truly blessed….