Sliding, bifold and more: find out how you can change up the look of your home with these different types of room doors!
Doors may not be the first things that home owners think of when renovating their homes. However, the types of room doors installed can totally change the look of your home. If you’re seeking inspiration on what kind of doors to fix in your home, check out our handy shortlist!
1. Hinged Doors
These doors are mounted on hinges on one end of the door, and are a classic design that comes in a variety of materials and finishes. They are also easy to install. Add some character to the hinged doors by selecting handles that match your overall home décor. The best part? Hinged doors are highly versatile and suit every room.
Bi-fold doors are another type of hinged doors but slightly more space-efficient! These multi-panelled doors come with a folding mechanism that lets you open the doors in a neat manner. When opened, the panels stack up so these are also great for compact spaces. Bi-fold doors are usually used for balconies and bathrooms.
3. French Doors
Photo: Pinterst
They say two is better than one, and you can achieve that with French doors. These doors are installed as a pair, and its wide-set style helps create an illusion of a bigger space. Depending on the décor of your home, you can opt to either install the doors hinged at the sides, or as sliding doors.
4. Sliding Doors
Photos: Pinterst
If you prefer a more compact alternative to the traditional hinged doors, sliding room doors might just be the thing for you. These doors open with a smooth gliding motion, making it space-efficient as you need not cater space for the door to swing. Depending on the aesthetic you’re going for, you could either opt for a plain design which camouflages with your walls, or a pop of design for something unique!
5. Pivot Doors
Photo: Pinterest
A pivot door is one that rotates on a spindle, which allows the door to swing both ways. With no need for a door handle, pivot room doors fit well in minimalist homes. However, such doors tend to be quite heavy and would require ample space to accommodate the swinging doors.
Now that you have a better idea on the types of door for your flat, you might be excited to install or even replace the existing main or internal doors. But wait up! Don’t forget that a permit is required if you are making these fixes:
Replacing the main entrance door and/or frame if your unit is along the fire escape route, or
Intending to reposition internal door entrances
Learn more of about the HDB guidelines on doors and gates here.
An integral furniture piece in the living room, find out how you can combine form and functionality with the perfect sofa design!
When it comes to furnishing the living room, the first item that usually comes to mind is the sofa. An integral element of every living room, it’s probably where you’ll be lounging on after work and on weekends. Our 5-step guide can help you decide on the perfect sofa design for your home.
Step 1: Consider Your Lifestyle
Before jumping into the sofa design, consider how the sofa will be used day-to-day. If you have a large family or have guests over often, a cosy loveseat might not be sufficient. Nap a lot on the sofa? Look for one with a deeper seat. It’s important to consider your lifestyle to ensure that your sofa needs are met.
Step 2: Decide on the Size & Orientation
When it comes to sofa design, size matters! Not just the size of the sofa itself, but also the size of your living room. If you have a large living room, you need to decide how much of it you want your sofa to fill. Conversely, if the communal area is not as spacious, a smaller sofa can help to create an illusion of a bigger space. The size of your living room will also determine the possible configuration and design of your chosen sofa (e.g. a couch, a sectional sofa, or an L-shaped sofa etc). Knowing these details would help eliminate options that do not fit your requirements.
Now that you’ve decided on the basic details of the sofa, it’s time to think about the type of material for the sofa. From leather to fabric, there are plenty of upholstery options that you could consider when customising your sofa. Instead of prioritising aesthetics, pick a sofa that is functional for your lifestyle needs. If you plan to keep pets or have young children, a sofa made of a material resistant to water and stains might be worth considering. Plus, don’t forget to do some research on the maintenance levels required for the material and how you can upkeep it in the long term.
Step 4: Set the Style
Picking a sofa design can be challenging because there are so many colours and concepts available. Don’t forget to consider the other furniture pieces in your living room, such as the side chairs, coffee table and TV console. Traditionally, the furniture pieces should complement to form a cohesive look, but if your style is eclectic, go ahead to mix and match!
Now that the sofa frame is all set, don’t forget about the seat cushions! These come in many shapes and sizes so pay attention to the seat depth, height as well as the cushion filling – these are important factors to take note of so that your chosen sofa can provide enough support while seating everyone comfortably. Sitting is believing so remember to take a seat (pun intended) as you go sofa shopping so that you can gauge the comfort level of the sofas!
Kitchen Cabinet Design Ideas: Practical Tips to Consider
Beyond colours and materials, consider these factors when designing your kitchen cabinets to achieve your dream workspace!
There are (surprisingly) many aspects to factor in when deciding on your kitchen cabinet design. Beyond the colours and materials, you’ll need to decide on a layout that works best for the family, plus accommodate appliances such as your fridge and stove. Whether you’re looking to engage the help of an interior designer or design your own carpentry, here are some tips to help you achieve your dream kitchen!
1. Consider a Comfortable Carpentry Budget
Photo: @uniquekitchensandbaths
Generally, the more custom carpentry works you require, the higher the cost. Strike a balance between your desired kitchen cabinet design and cost, by considering your lifestyle. If you don’t anticipate needing a lot of closed storage space, you can consider open-shelving for the top-half of your kitchen to save on carpentry costs, for example.
In terms of materials, plywood is the most budget-friendly option. Melamine, which can be chemically treated to be resistant to moisture and heat, is also another popular and affordable choice.
2. Plan Your Layout
Photo: @qanvast
Before drawing up the kitchen cabinet design and configuration, consider the flat layout first. It is best to work with what you have, as overhauling the layout could run up huge costs.
If you have a flexible layout though, U-shaped kitchens work well for compact spaces as they help with maximising the work space. Gallery layouts feature counter units across each other and a clear path in the middle. L-shaped kitchens afford more space for you to move around, and flexibility to outfit the other parts of the kitchen with a dining table or a breakfast nook. For more kitchen layout ideas, see 6 Kitchen Layouts for the MasterChef in You.
3. Maximise Storage Options
Well-planned kitchen storage is a gamechanger. Pull-out drawers are great for storing pantry items, where everything can be seen at a glance and nothing gets lost at the back of a cabinet. For lesser-used kitchen gadgets, use vertical space to store them closer to the ceiling. For corner units, plan your kitchen cabinet design such that the carpentry supports the installation of pull-out solutions, so you minimise dead space.
4. Explore Style Options
Now for the fun part – aesthetics! The combination of white, beige and wood is gaining popularity in new homes, as home owners gravitate towards Scandinavian and minimalist styles. Nonetheless, there are plenty of other looks you could explore. Consider a two-tone design with different colours for the wall and base cabinets for instance, for a modern twist. Conversely, simple trimmings that inject a ‘vintage farmhouse’ vibe are also seeing a resurgence. When deciding on the overall look, don’t forget to take the kitchen backsplash into consideration!
If the living room is the ‘face’ of a home, then the kitchen is where the heart is. After all, it is where we whip up home-cooked meals for our loved ones. Even if you don’t cook frequently, getting your layout right makes all the difference to the functionality and flow of your kitchen.
Check out these 6 kitchen layout ideas for some inspiration!
1. Kitchen Island
Interior Designer: Tidplus Design
Photo Credit: Qanvast
A very popular choice today, the island is a large work surface placed usually in the middle of the kitchen. If you entertain often, consider utilising the island as both a work and social area where family and friends can connect while meals are being prepared.
Psst! If you’re thinking of hacking your kitchen wall to make way for an island in your flat, bear in mind that any demolition or alteration of walls can only be carried out after obtaining HDB’s approval. This is to ensure that the renovations do not compromise the structural integrity of your flat.
2. Peninsula
Interior Designer: Zenith Arc
While an island is a standalone surface, a peninsula is attached to a wall or another structure. Think of the peninsula as a cousin of the island! As with the island, the peninsula offers a great opportunity for interactions during meal preparation.
3. Galley
Interior Designer: Yang’s Inspiration Design
The galley kitchen consists of two rows of cabinets facing each other. This type of layout offers greater storage space. Consider installing open shelves instead of upper cabinets above the galley, to avoid having an overly-cramped kitchen.
4. L-Shaped Kitchen
Interior Designer: Nitty Gritty Interior
Photo Credit: Qanvast
The L-shaped kitchen features cabinets on two perpendicular walls. This offers better accessibility, and you will not have to move back-and-forth, as everything is within reach.
5. U-Shaped Kitchen
Interior Designer: Zenith Arc
Other than providing plenty of storage space, the U-shaped kitchen allows for great workflow as you move about the kitchen. Most importantly, this layout is able to accommodate multiple chefs – great for families who bond over cooking.
6. Single-Wall Kitchen
Interior Designer: Bowerman Interior
Photo Credit: Qanvast
As its name suggests, this layout consists of cabinets installed against a single wall. You can opt for either upper and lower cabinets, or even open shelves. This straightforward layout is most suitable for owners who are looking for a simple and fuss-free kitchen.
Is there a specific kitchen layout that you prefer? Let us know in the comments below!
From terrazzo prints to two-toned walls, find out which popular interior design ideas are back and here to stay.
Looking to renovate or refresh your home décor this year? We’ve curated five trending interior design ideas for that extra jolt of inspiration!
1. Arches
From mirrors to recesses and entryways, curved arches are one of the interior design ideas that is making a comeback. The use of arches and curves provide a simple yet bold visual contrast to linear elements in the home, making it an easy way to make a statement in your home.
Recessed arches can help accentuate things and spaces you love. Fill them with shelving for your favourite showpieces or furniture, to create a cosy nook for reading or lounging.
Not ready to commit to a constructed archway? Consider playing with colours and wallpaper stickers to create the illusion of an archway.
Arched entryways can break the uniformity of a home’s interior
2. Rattan
Durable, eco-friendly and versatile, it is no surprise this popular interior design idea has made a comeback in interior design. Introducing rattan furniture and accessories (think bedheads, lampshades, mirrors) is an easy way to infuse a little retro and bohemian chic into any design scheme. Trust us, a little wicker can go a long way.
Peel and stick wall papers provide a convenient and affordable way to add a pop of colour and playfulness to any room. It’s also fantastic for the commitment-phobes who fancy a visual change-up every once in a while.
4. Two-Tone Walls
They say two is better than one! Two-tone walls create an impression of architectural details in an effortless and modern way. Playing around with the height of lines can also make spaces feel larger. For a more interesting look, try experimenting with non-horizontal lines, along with other interior design ideas!
5. Terrazzo
One of the interior design ideas inspired from the 1970s, Terrazo is definitely back in fashion. While it was mainly used in floor tiles in the past, the distinctive speckled design now covers a lot more spaces such as backsplashes, table counters, wallpaper, furnishings, rugs, and even smaller accessories. Like peel off wallpapers, it is a simple design element that adds playfulness to more muted interior spaces.
Living Room Design Ideas for Creating Flexible Living Spaces
Transform your home into a flexible living space with these interesting living room interior design ideas!
To create a brighter and airier communal area, an increasing number of home owners have adopted the open layout concept. Whether it’s removing partitions or using multifunctional furniture, here are some living room design ideas to transform your home into a flexible living space.
By removing the walls and opening up the interiors, the owners of this 2-room Flexi flat have transformed their home into a studio-like apartment. Instead of a conventional sofa, a sofa bed allows the common living area to be transformed into the bedroom come night time.
2. Indoor-Outdoor Vibes
If you’re a fan of Selling Sunset or an interior enthusiast in general, the term ‘indoor-outdoor’ would be a familiar concept and one of the living room design ideas that you can adopt for your home.
Take for instance this HDB flat in Bukit Panjang, where regular sliding doors have been replaced with foldable glass ones that open up to a balcony garden. Straddling between the living room and balcony is also a cafe-style setup for enjoying a nice cuppa. This helps to maximise every inch of the in-between space while allowing its home owners to soak in the outdoor vibes while remaining in the shade.
To make a visual statement, consider framing the balcony with an arched wall. The raised platform of the balcony also helps to demarcate the outdoor space without the use of partitions.
In a similar setup but one with retro vibes, this home opted for rotating wood-framed rattan doors and an emerald-tiled coffee counter for the balcony. Besides adding onto the aesthetics, these doors also allow for more natural ventilation while providing privacy.
You can expand the common living area by combining the adjacent room. When needed, the L-shaped partition of this home can be opened up completely as a single, continuous space. To create the illusion of an even bigger space, add floor-to-ceiling mirrors!
View this project on QanvastView this project on Qanvast
Another popular living room design idea is to extend the communal area by incorporating the balcony like the home pictured above. It’s something to consider, especially if you host often. Tip: opting for the same flooring offers a seamless transition.
Create a semi-private entertainment area by removing an L-shaped section of the bedroom walls. The result is a cosy demarcated space that affords sufficient privacy whilst being able to transition seamlessly into the larger communal space.
Take open concept living up a notch by merging the living room, bedroom and kitchen into a single space! For home owners who spend a lot of time in the kitchen, opt for sliding or bi-fold doors to contain the fumes when you showcase your culinary skills.
In addition to transforming the communal area into flexible living spaces, these living room design ideas also help with space maximisation – something handy to think about as you embark on your home renovation!
The article was adapted from a version first published by Qanvast.
Need help picking the right furniture for your dining room? We got you covered with these pro tips.
With so many shapes and sizes of dining tables, how do you pick the one that is just right for you and your home?
It is not all that complicated actually. Apart from choosing one that looks good, make sure that your dream dining table fits your space and gives enough seating and walking room. With these basic pointers in mind, here are the different dining table types you can consider. ?
The Regular
Rectangle-shaped tables are universally loved, both for its form and functionality. It works really well in a long and narrow room where more corridor space is needed for walking. They can be fitted into small spaces, even at corners, without dominating the room. A great way to save space!
(Photo courtesy of Li Shumei)
The Square
In contrast, square-shaped tables take up more space than you think it would. However, it can create a unique modern look, and enhances a pleasant intimacy between people, as everyone is seated side by side without a ‘head’ – democracy at work at the dining table!
The Round
Great for encouraging closeness and conversation among people, round-shaped tables are one of the best choices for dining as shared dishes are easy to reach. They also have no sharp corners to bump into! ?
Round tables are especially suitable for tight spaces. It can also fit in more people around it. Pedestal tables are even better, as they offer more legroom.
(Photo courtesy of Gary Kwong)
The Egg
A more traditional style of dining, oval-shaped tables can add a sense of homeliness to any meal, which creates a more relaxed atmosphere. People can also move freely, not having to worry about the sharp corners too!
The Seats
Once you have chosen your desired dining table, you can now decide on the chairs! Today, there are so many options when it comes to choosing your chairs. You do not have to buy a matching set. You can match the chair colours to other designs in your room, or bring a contrast in pattern and style that creates an elegance or element of fun in the room.
(Photo courtesy of Wong Seow Keong)
If you are looking for chairs that will eliminate the visual disturbance of multiple chair backs, or to free up some room space, do consider bench seating too, or acrylic chairs to lend visual lightness. Bench seats are also handy when you need to pack a couple of extra people around the dining table for special occasions! ?
The right lighting can do wonders to create a relaxing mood for your bedroom – find out how.
Since the invention of the light bulb, sleep has never been the same. We no longer go to sleep according to our circadian rhythms – we can turn night into day at the flick of a switch. Research has shown that exposure to light at the time when we are supposed to sleep can cause our internal clock to reset and eventually go haywire!
But there is help, yet.Apart from going to bed at the right time, you can literally change the mood of your bedroom by playing with the amount of light. We share 3 tips to turn your bedroom into a sleep sanctuary.
Softly illuminating
Track lighting is the quintessential feature of a modern home. It refers to light fixtures attached to a track that conceals the electrical conductors underneath. Often used to highlight unique features in a room – paintings or display shelves – these lights are highly functional and aesthetically pleasing.
Adding track lights seems counter-intuitive if you are going for the cosy feel, but the trick is to angle it properly. Rather than shining it straight on your bed, redirect the light fixture towards the wall instead. The effect you will get is soft light illuminating your bedroom.
To achieve the same lighting effect, another option is to install dimmers! These handy additions allow you to control the brightness of your light output by simply adjusting a switch. Besides being able to mimic soft accent lighting, dimmers can also reduce energy usage – ‘fading down’ the lights by 50% reduces the associated energy use by the same percentage. If you do decide to install them, do ensure that the dimmer switches are rated for the total wattage of the lights it controls.
Playing with blinds
Nothing brightens up a room like natural light. Sometimes, however, you want less of it and roller blinds are your answer to regulate the amount of light entering your bedroom.
The greatest thing about roller blinds is its versatility. Just by changing the material, you can achieve drastically different lighting effects.
If you enjoy sleeping in on the weekends, blackout blinds are perfect for you. Usually made out of thick material such as suede, these blinds can completely block off light to let you snooze in peace.
Alternatively, you can opt for zebra blinds. These have horizontal slates like venetian blinds, but made out of solid and sheer fabric that are alternated, thus giving it the striped look. The sheer parts dim the incoming light, creating that relaxing ambience in your bedroom.
Layered lights
If there is minimal natural light entering your bedroom, consider switching harsh ceiling lights with soft task and ambient lighting. ‘Soft’ lighting is basically interior designer talk for warm, yellow light. The secret is to layer your light sources, rather than just relying on overhead lights. Lamps, both standing and table lamps, are good supplementary light sources.
Another little tip is to use LED Edison bulbs – the upgraded, energy efficient version of the original Edison incandescent ones. These bare bulbs effortlessly evoke a vintage feel, thus are staples at our favourite, hole in the wall hipster cafes. But now, you too can replicate that cosiness in your own bedroom!
Lighting is a tricky and often overlooked detail in the design of bedrooms! So the next time you are thinking of revamping yours, make a mental note to consider these tips.
My Resale Flat Journey: A Change of Scenery After More Than 20 Years
Read about how the proximity housing grant helped Mr Bactarudin live near his family!
The post ‘My Resale Journey: A Change of Scenery After More Than 20 Years’ appeared first on the MoneySmart blog
After living in the West for more than two decades, Mr Bactarudin bin Launon and his wife decided it was time to move.
The couple, who previously lived in a 4-room flat in Jurong West, moved to a 3-room resale flat in Marsiling in January this year. This was in part motivated by the desire to stay closer to their daughter, and also better prepare for retirement by paying off their home loan.
For this final installment of our 3-part series profiling HDB resale flat buyers, we had a chat with Mr Bactarudin about his new home, his experiences as a resale flat buyer and his thoughts on owning a home in Singapore
About the Flat
Owner: Mr Bactarudin bin Launon, 70, married with a daughter who has moved out.
Location
Marsiling
Flat Price
$220,000 (after $20,000 Proximity Housing Grant)
Year of Purchase
2018
Flat Type & Size
3-room flat/ 76 sqm
Remaining Length of Lease
55 years (as of May 2019)
Monthly Mortgage Amount & Loan Tenure
Nil (fully paid after selling previous flat)
Renovation Cost
About $20,000
Mr Bactarudin and his wife greeted us in the living room of their newly-renovated flat at Marsiling Lane.
Mr Bactarudin, a security guard, was taking two weeks’ off work to recuperate after a fall.
While the couple appeared to have settled in well and seemed familiar with their new neighbourhood, they revealed that they had actually moved in just three months ago.
MoneySmart (MS): Thanks so much for having us here. We understand you used to live in Jurong West. Why did you decide to move to Marsiling?
Yes, we lived in Jurong West for 24 years before moving here. We sold our 4-room flat and rightsized to a 3-room flat.
MoneySmart Tip: Mr Bactarudin and his wife received a $20,000 Proximity Housing Grant, as they moved within 4 km of their daughter. Buyers who plan to take up the Proximity Housing Grant can check online whether the flat they intend to buy is within the 4km radius of their parents or children.
MS: Any reasons for not buying a smaller flat in Jurong?
Jurong is a big commercial area and I find things there becoming more expensive.
We also could not find a 3-room flat in the Jurong area for the same price as our current flat. Together with the fact that we could be closer to our daughter and grandchildren, getting this flat here in Marsiling at the price we bought it for was a natural decision.
MoneySmart Tip: To find out transacted resale prices sorted by different towns and flat types, buyers and sellers can access the median resale prices released every quarter.
MS: Having lived in the west for so long, how are you adapting to your new neighbourhood?
Based on my experience interacting with people, it’s almost the same. Depends on whether you take the initiative to greet them also, because we’re the newcomers here.
My neighbour here, who lives opposite us, talked to me first: “Uncle how are you, where you are from?” and so on. This was the first day after I moved in, and I was doing painting outside when they were leaving for work. The second day, I was once again doing painting outside and they started another conversation with me. I told them I moved here from Jurong, and then asked them more about themselves. That’s how we got to know each other.
MS: Are there any big differences between Marsiling and Jurong West?
I’m quite happy living here and find it comfortable.
Within the flat, I don’t see much difference between this and our old home. Outside the home, one main difference is having to walk further for makan.
The eating places in Jurong West were nearer to home. I could cross the road and have teh tarik. Over here in Marsiling, there is a supermarket, 7-11, and a wet/ dry market. It is further away and we will visit once in a while.
But most of the times, we cook at home so we don’t really go to these eateries that often.
MS: Did you get your current Marsiling resale flat through an agent or did you DIY the transaction?
We bought the flat through an agent who is a relative’s friend. They helped with everything. We just let them do everything. They found the price we wanted.
We viewed quite a few resale flats before making a decision. We did not move into this flat until our previous flat was sold.
MS: How did you finance the flat?
We didn’t take out a loan. The flat is fully paid for, so we do not need to pay any monthly instalments.
As I also needed money for my medical condition, selling the old flat and moving to a smaller one was a financial decision as well.
MS: What about the renovations?
We did our own renovations. I think we spent about $8,000.
His wife interjected that the renovations actually cost about $20,000.
We had to do a little bit of wiring. The bulk of the cost went into renovating the kitchen. We also spent on the flooring, sink, fittings, and buying furnishings.
MS: What are your thoughts on buying and owning a home in Singapore?
I’m from Singapore, this is my place, this is my country, this is where I was born.
Singapore is still where I would prefer to have a home to call my own. I recall some friends who bought a place outside Singapore – it may work for you if money is not an issue. But they were not familiar with the rules and the foreign environment. I have worries on what will happen to them if they don’t like it there and have to find another home if they want to return to Singapore.
My Resale Flat Journey: First Property is 30-Year Old Resale Flat
Thinking of buying a resale flat? Read about how Mr Wong found the right unit for him and his family!
The post ‘My Resale Journey: First Property is a 30-Year Old Resale Flat’ appeared first on the MoneySmart blog
Mr Wong, 32, and his wife, Madam Lai, 31, are on the cusp of moving into a resale flat in Jurong West with their child, as well as Madam Lai’s brother and sister-in-law.
The couple’s 5-room flat has just been renovated, and they are now putting the finishing touches to their new home.
In this second part of a 3-part series in which we present the stories of resale flat buyers, we spoke with Mr Wong on his new home and the process he went through to purchase his resale flat.
About The Flat
Owner: Mr Wong Bin Hao, 32, married with 1 kid
Location
Jurong West
Flat Price
$335,000 (after $40,000 housing grants)
Year of Purchase
2018
Flat Type & Size
5-room flat/ 121 sqm
Remaining Length of Lease
69 years (as of May 2019)
Monthly Mortgage Amount & Loan Tenure
About $1,600
18 years
Renovation Cost
About $35,000
When we visited Mr Wong’s flat at Jurong West Avenue 5, workmen were finishing up their final renovations.
But the flat already looked cosy and inviting, with a comfy couch and a pile of Hello Kitty cushions beckoning us as we entered.
MoneySmart (MS): Mr Wong, how did you and your wife decide to buy a flat in Jurong West?
My wife and I both work in the Jurong area. For a period of time, we rented in nearby neighbourhoods and moved around.
I have been living in Jurong West for about three to four years. I’ve always found this area quite lively and naturally, wanted to buy a home here.
MS: Besides the fact that it’s lively, what else about this place appealed to you?
My two-year-old kid goes to the childcare centre in this block. You can also see the playground from here so it’s perfect and convenient for us. There are some primary schools close by that my child can attend in the future.
There are also two malls nearby, Pioneer Mall and Gek Poh. When the future Jurong Region Line is up, we will be within walking distance to an MRT station, so I think it was worth the buy.
MS: You started out renting a flat. What made you decide to take the plunge and buy your own place?
For me, having that sense of ownership is important.
When you rent, you might need to move from time to time, like what happened to us in the past. I found it tiring to be moving from house to house every year or so.
Some landlords are also not prepared to accept tenants who keep different hours or lifestyles. At the start they may say everything is okay, then suddenly they become fussy and impose curfews on the tenants.
There are uncertainties when you rent a place with friends too – they may need to move elsewhere and you will need to find another flat mate.
When I rented a place, I had to pay the landlord rent in cash every month, and could not make use of my CPF savings. Now, I can pay my housing loan instalments using CPF, so I don’t really need to fork out cash. For all these reasons, I feel it is good to have my own flat.
MS: We understand that your flat is about 30 years old. Was its age a concern for you?
One reason why I bought a resale flat is that it is more spacious for my family. This flat is about 120 sqm and the kids have more space to run around. Sometimes my parents or my wife’s parents will visit. So it’s better to have more space.
We still have 69 years left on the lease which is good enough for us. Our children and future generations are likely to buy their own homes anyway, so we don’t need to worry about leaving this flat for them. As we are planning to use this flat as a home, I think it’s good enough. For the next generation, you don’t need to bother as the kids will buy their own homes.
Although this is an old estate, the area is well taken care of by the Town Council and HDB also carries out upgrading of the flats.
MoneySmart Tip: Use this online map service to get lease information, resale prices, and even season parking information for each housing block. You can filter through nearby amenities to see where to dine and shop.
MS: Do you see your flat as an investment?
When we were weighing the pros and cons of buying a 30-year-old flat compared to a newer one, we did think about this issue. However, we feel that a house is for the long-term and one that would see us through our old age. Instead of hoping to make a profit from moving houses, we would rather stay in one flat and finish paying our housing loan sooner, so that we can free up our finances for other things.
MS: How was the purchase process? Did you go through an agent or DIY?
We initially tried to DIY by using a property website, but later on we received calls from estate agents offering their services and we engaged an agent eventually. He asked us what sort of attributes we wanted in a flat, and helped us to look for suitable flats that were within our budget.
Everyone has different interests and needs, so it’s important to know what your own needs are, before you decide whether to engage an estate agent for your resale transaction.
MoneySmart Tip: We asked Mr Wong if he knows about HDB’s Resale Portal, and he says he doesn’t. The HDB Resale Portal could have guided him in the buying journey. It takes buyers and sellers through the buying and selling process in a step-by-step manner online and allows them to DIY their transaction if they choose not to engage an estate agent.
MS: How is your flat being financed?
We went for an HDB loan as we found it less complicated than going for a bank loan. For bank loans, the interest rate is a bit uncertain.
Although the HDB loan interest rate is currently higher than for bank loans, the difference is not that much after you do the math.
Initially we indicated that we wanted to settle the loan in 10 years. Then HDB called us to ask whether we wanted to reconsider. Based on our salary, they recommended an 18-year loan tenure so that we can buffer for things like employment changes or if we suddenly need cash for urgent reasons. They explained that we can make partial capital repayment or even redeem the loan earlier if our finances permit. We found the advice useful. My wife and I are planning to settle the loan earlier to incur less interest and save more for retirement.
MoneySmart Tip: Find out how you can make partial capital repayment or fully redeem your HDB loan and save on housing loan interest.
MS: Did you get to enjoy any grant?
We got the housing grant for first-time buyers, which was a really attractive sum. We initially set aside a bigger budget as we thought we would not be eligible for grants. So for us, getting the grant was a bonus.
We spent about $35,000 on renovations, mainly for works in the kitchen and for furnishings around the house. This includes $16,000 paid to our contractor, who was flexible to work with.
We did not hire interior design firms as we found their prices quite high. Since we wanted to save money, we thought it was better to work directly with contractors. For example, the rewiring cost quoted by the contractor was cheaper than market rate!
MS: Any advice for aspiring homebuyers?
You don’t really need to look for flats with fanciful fittings, because you will probably have to do your own renovations anyway. For example, even if the flat comes with nice flooring, the colour of the tiles may be uneven after the previous flat owner has removed all their furniture. So you might still need to replace the floor tiles.
MoneySmartTip: Planning your renovations for your HDB flat? Know what’s important to note and familiarise yourself with the guidelines.
