Prior to our purchase, one of the questions that my wife and I had been thinking over and over again is whether it is worth buying The Terrace Executive Condominium (EC). We are certainly not buying for investment purposes but then again, as a wealth builder, you would want a home with potential to appreciate in value significantly over the long run. In Punggol and Sengkang residential areas, we shortlisted three ECs for consideration and they are The Vales, Bellewaters and The Terrace EC, which is known famously as “Venice of Punggol”.
In terms of location, The Vales is considered the best among the three because it is located within walking distance to the SengKang MRT. However, as an upgrader, we need to pay the resale levy for The Vales, hence this project is not an option for us. Then again, we also noted that virtually most of the good-facing units have been sold. Those remaining unsold are either road-facing or facing the nearby SengKang Hospital. To make things worse, the recently launched EC, Treasure Crest is located just beside The Vales. Thus, the residents of The Vales will have to put up with the incessant noise and dust pollutions for at least 3 years after moving into their new homes.
In terms of interiors, Bellewaters is slightly better than The Terrace and there is no need to pay for the resale levy. We would have purchased this project if not for the fact that the Temporary Occupation Permit (TOP) is earlier than my Minimum Occupation Period (MOP). But beyond these points, wealth builders need to look at the big picture level, SengKang ECs lose out to Punggol ECs for the lack of major developmental projects that cater to lifestyle needs.
Eventually, we are glad to purchase The Terrace for several key reasons. Among them is the fact that The Terrace is the only EC fronting the Punggol Waterway, which is the centre-piece of “Punggol Waterfront Living”. The Waterway is a 4.2km water path that runs through the estate and is the iconic feature for the town as the government aims to transform Punggol into the first Eco-Town in Singapore. It offers an amazingly scenic environment for young families to not only de-stress from the busy urban city life, but also allows many recreational activities.
The Terrace is segregated into three tiers, namely the Active Tier, The Leisure Tier and The Tranquil Tier. Facilities include a waterfront facing gym, games room, karaoke room and an origami pool. In addition, another attraction is the newly opened $57 million SAFRA club which houses an entertainment water playground for children as well as a huge childcare centre. The SAFRA is located within walking distance from The Terrace and it will further anchor the surrounding area as a sports and recreational activity hub. As a young family, we also appreciate that there are a number of schools to choose near the vicinity, such as Waterway Primary, Horizon Primary, Edgefield Primary, Punggol View and Greendale Primary.
In terms of transportation, The Terrace is built right next to the Kadaloor LRT Station, which is only 3 LRT stops away to The Punggol MRT Station. For car owners, there are several traffic enhancements in the pipeline that can add value to The Terrace, such as expansion of the KPE/TPE interchange and the Cross Island Line, a 50km MRT line that links Punggol to Changi and Jurong. In addition, the Punggol-Pasir Ris stretch of the Cross Island Line will also form the first leg of the North Shore Line, thus Punggol could potentially be one of the MRT regional interchanges.
Located next to Oasis LRT station, the Oasis Terraces is one of the next-generation neighbourhood centres that will benefit residents of The Terrace because this centre is located very near to the EC. The development offers a wide range of social, healthcare and shopping facilities all under one roof. To top it off, a community-centric plaza will be built in the heart of this project, with the aim of encouraging community bonding. In the pipeline are covered walkways that are connected to the LRT station and the Punggol Waterway. This development is actually one of the compelling reasons that swayed my decision to buy The Terrace because as a Bedok resident for three decades, I am used to being spoilt for choices when it comes to accessibility of basic amenities and food centres.
Buyer Referral Scheme
SG Wealth Builder believes good things must be shared. After much research, I am convinced that The Terrace is strategically located at the Punggol area which has tremendous potential for buyers, in terms of infrastructure and community developments. In this regard, this project has much potential for huge investment gains when all the projects are completed.
Now, the developer of The Terrace Executive Condominium is now offering $10,000 to interested buyers through a buyer referral scheme. This means that if you purchase a unit through me, you will receive a rebate of $10,000. In turn, I will also get a referral fee of $10,000. Win-win-win outcome for buyer, developer and referrer right?
Take note it is a buyer-refers-buyer scheme, so you need an existing buyer for referral in order to enjoy this special promotion. The deadline for the end of this offer is 19 June 2016. So if you are interested, please email me at email@example.com. It is now or never. Don’t let slip this golden opportunity to build a better home for your family.
Join me in my investment journey and read my financial adventures for free! Through the sharing, my vision is improve and change people’s lives. In school, we don’t learn how to budget, manage our finances, build wealth and invest our money. Instead, we are taught useless subjects which we would never put to use most of the times during our working lives.
Yet, managing our money is an important life skill that is critical to our survival in the society. Many people start to realize how it is importance of managing money only when they face the prospect of financial ruins, by then which would be too late for remedies. Thus, I started this blog to share articles on finances which I aspire to make a positive impact in others’ lives.
You can opt to subscribe email updates on my articles for free by entering your email address below.
Subscribe to Blog via Email
SG Wealth Builder