I bought a cluster house. It won't be ready until 2011. By that time, my daughter will already be in Primary One. However, under the MOE rules, next year I will still be able to use the address of my uncompleted new house to register my daughter for Primary One.My new home is within a 1-km radius of the school that I plan to send my daughter to. So I enjoy a healthy priority, in the admission system. That takes care of that.
I am quite happy with the price at which I bought the house. The price is already $258,000 lower than what the developer had been asking for it, five months ago.
Also, I had gotten wind of the developer's latest strategy. I realised that waiting and holding out for an even bigger discount might be a fruitless exercise. I would only run the risk that someone else might buy the unit I wanted.
The developer's goal was to quickly sell enough units (about 50%) to cover its entire construction costs. Prior to hitting the 50% mark, the developer would be feeling somewhat desperate. However, after hitting 50%, the developer would have enough funds to proceed with the construction.
The developer would no longer be in any hurry to sell the remaining units. It could leave them unsold for several years. It could sell them at a better price much later, when the property market finally revives.
With my purchase, the developer crossed the 50% mark. My purchase might have been the last big bargain that the developer would give, for houses in this particular project.
My cluster house is 4600+ square feet if you count the roof area, and 3700+ square feet if you don't. (For some reason, it is standard practice to count the roof as part of the built-in area, for cluster houses). One reason why I bought such a big place is that I'm thinking ahead.
I expect to live here for many years. And my parents are getting old. One day, they might no longer able to look after themselves and live on their own (which they currently do). When that time comes, I'm happy to welcome them to come live with me. There'll be plenty of space.
Yes, I've heard about Minister Khaw Boon Wan's suggestion that Singaporeans send their aged parents away, to live in nursing homes in Johor Baru. No, I do not think that it is a good idea. I think that it is rather despicable, actually.