Glimpse into our first private condominium journey

I bought my first investment property - Bedok Residences back in 2011 during the launch day with my wife.




In 2005, we move into our first house, a beautiful 5 room BTO at Tampines. It was an awesome feeling to finally have our own nest. Fast forward to 2009, we realized that our 5 room HDB at Tampines did not appreciate (in term if monetary) to our expectation. It was than that we realized we need to do something to achieve our retirement goal.

We decided to invest in a private condominium for the rental income (passive income) and also for better capital appreciation. After a year of research, we realized that mixed residential and commercial development generally has a lower risk factor for investor as their value is more resilient. So we start our hunt for mixed development and we chance upon Bedok Residences, a mixed development integrated with Bus Interchange that connect to a MRT Station. We fell in love with this development because this mixed development actually transform Bedok central into a modern, vibrant and bustling neighbourhood. The whole development not only improved the connectivity of Bedok to the rest of Singapore but also enhance the way we shopped in Bedok with an integrated shopping mall – Bedok Mall.



After visiting the show flat and understand about the development, we decided to buy a 1 bedroom unit for investment. However, we will told that there will be an Additional Buyer Stamp Duty (ABSD) as this is our 2nd property. Either we pay the ABSD or sell our HDB will two choices given to us. We decided to pay the ABSD because after our calculation, we firmly believed that the capital appreciation will out weight the ABSD amount. However, every individual’s situation is different. It is to your best interest to discuss with an experience real estate agent for all possible choices and implications so that you can make the best decision.

As a first-time investor, I was surprised that the payment scheme is different from buying resale condominium. It is call Progressive Payment Scheme. Basically it mean we only pay the developer when they finish certain stage of the development which translate to lower monthly installments during the initial stages of development.

Basically, our real estate agent did a good job for us. He not only assist us in sorting out our finance by providing accurate numbers so that we can make sound decision but also provide good advise on current property market analysis.



Future Opportunity

We love Bedok Residences because of the rejuvenation it bring to Bedok. It transformed the old town feel into a wonderful place for Bedok residents to gather with good dinning, retails options and convenience public transportation system that easily bring you to any parts of Singapore.

Recently we came across Sengkang Grand Residences, a similar mixed-development as Bedok Residences. Sengkang Grand Residences will be part of Buangkok Integrated Community Hub which feature a new Bus Interchange connected to current Buangkok MRT Station (NE15), a shopping mall, hawker center and public spaces for social activities. We have not doubt that Sengkang Grand Residences will become an iconic development in Buangkok neighbourhood just like the success of Bedok Residences.

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