Let’s cut to it. The big question is price.
Rivelle EC price will be situated in the line of executive condominium already existing in Singapore. It means that it is being sold at a higher price than the resale HDB flats and lower than the majority of the privately sold condoms around. It is in that golden ratio of upgraders that most aspire to accomplish.
Prices will vary. A two bedroom apartment is in a different league with that of a five bedroom design. Floor height matters. Facing matters. An outlook of a swimming pool is quite costly as compared to a driveway. This is how the market operates.
The real one is the price per square foot. That’s where the story hides. Do not look at the headliner figure. Break it down. Ask about the price per inch of space.
Executive condos are linked with criterion requirements. There’s an income ceiling. First-time purchasers can be offered. That will make purchase effective price lower. That is a big difference to certain families. It can be breathing space and not economic burden.
But these are the two points that are underestimated here, funding.
Interest rates shift. The slightest change in favour of your monthly instalment. Run scenarios. Don’t rely on rough guesses. Speak to a mortgage broker. Crunch the numbers twice. No one is feeling guilty that they are cautious of loans.
Constructions are paid progressively. You will not lay out your money in one place. However, it is important the cash flow planning. Subsequently, the costs will be in renovation form. Nor does furniture come without cost. It is not limited to the booking fee.
Many buyers want to buy long-term appreciated items. In a decade, ECs will be fully privatized. This has seen some ECs grow in price once they have entered the open market. The markets are of course, cyclical. There are no guarantees. But the pattern is there.
Place increases stability of price. The demand is bound to be better with time when Rivelle EC is found near the transport systems, schools and day to day conveniences. Convenience is powerful. People pay for time saved.
One day I met a couple that tried to make the first EC up until the dollar. They informed me later on that they were glad that they had done the purchase; they should have considered more about the cash flow. Lesson learned. Optimism is good. Blind optimism isn’t.
Which is the optimal strategy to implement Rivelle EC price?
Compare to local EC launches. Check past transactions. Study the layout efficiency. Well designed 900 square foot unit may convincingly appear bigger than a 1,000 square foot unit that has been poorly planned. Space is not numbers, but flow.
See the showflat no less than two times. Go on a weekday. Go on a weekend. Feel the crowd. Picture daily life there. Imagine shopping in the grocery store, school, evenings.
Buying real estate is a marathon and not a sprint. The legitimate price is the one, which is within your income bracket and within your savings and within your sanity. Assuming that Rivelle EC will comply with those, it can be a sensible move.
If it doesn’t, walk away calmly. Another opportunity will arise. Patience may not necessarily be rewarded in real estate as compared to pressure.