In one of my previous posts, I updated that I have recently purchased an Executive Condominium (EC), which is actually The Terrace at Edgedale Plains, Punggol Drive. In this article, I will touch on the motivating factors for my family’s purchase and also share with readers the buyer referral scheme offered by the developer of The Terrace Executive Condominium (EC).
HDB Resale Levy
In 2013, HDB announced that second-timers must pay a resale levy for new ECs launched on or after 9 December 2013. However, for land sale before 9 December 2013, applicants need not pay the resale levy. There is a list of ECs that HDB upgraders need not pay resale levy and it is found here. One of the motivating factors of my purchase of The Terrace EC is that this project is exempted from resale levy, which in my case, amounted to $45,000. If you have previously bought a new Design, Build and Sell Scheme (DBSS) or received a CPF Housing Grant, then you need to pay a resale levy when you purchase your next home.
Due to the fact that my family’s first subsidised flat was a 5-room flat, so we need to pay $45,000 for projects that come with resale levy. My wife and I were reluctant to pay this amount of monies to the government. After all, we received only $40,000 housing grant, so why should we pay back $45,000? Henceforth, we were attracted to The Terrace EC because it is one of the last few projects which upgraders need not pay resale levy.
Good Location and amazing amenities
In terms of location, The Terrace is situated right next to the Kadaloor LRT Station. In fact, upon visiting the actual site, our unit is literally a stone throw away from the LRT Station. As a car owner, we also like the fact that Tampines Expressway (TPE) is just around the corner and that by 2019, there will be a new link to Kallang Expressway.
In terms of surrounding amenities, there are a few exciting amenities that potential buyers must take note. SAFRA Punggol is just a 10-minutes distance from The Terrace EC and the club features a suite of leisure choices, including the first indoor water playground in Singapore, bowling centre, KTV outlet, spa and wellness centre.
A new Regional Sports Centre will be integrated with the Punggol’s waterways and co-located with the SAFRA clubhouse to cater to a wider range of competitive sports and events. Expected to be completed in 2019, the Regional Sports Centre will make this area a very vibrant and lively area. My family had taken a walk along at the Punggol’s waterway last month and I must say it is indeed a very scenic and beautiful place to build our home. When Deputy Prime Minister Teo Chee Hean announced his vision for Punggol, we had no idea it will be of such mind-blowing project.
Oasis Terraces & Waterway Point Mall
Perhaps the best-selling point of The Terrace EC is that it is located very near to the Oasis Terrace, a next generation neighbourhood centre that features childcare centres, the upcoming Punggol Polyclinic, a community plaza as well as retail and dining facilities, all under one roof. Of course, further down the road is the Waterway Point Mall, the main shopping mall of Punggol area.
Buyer Referral Scheme
I always believe 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 EC 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 firstname.lastname@example.org. 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