Its becoming more and more prevalent for HDB to have the $1,000,000 price tag. Honestly, for the owners to reach that benchmark, they had to work for it as well. These premium HDBs are generally located centrally. However, right here we have an HDB in AMK.
How did they do it?
The couple themselves are interior architects and bought the flat in 2014. The maisonette is made up of 2 3-rm adjoining flats, summing it up to 1,916 sqft. They renovated the house in such a way that the dining area could even fit a 3-meter wooden table. They fitted branded appliances and fittings to the apartment as well.
Location location location
The majority of the HDBs that crossed the $1,000,000 was mostly maisonettes and DBSS that is well located (DBSS model has already discontinued from the year 2001.). They were located in Toa Payoh, Mei Ling Street, Bishan, Bukit Merah, Kallang / Whampoa, and Clementi. Some rare cases are like Kallang / Whampoa areas. The HDBs in those areas are only left with 52 years lease. So why does the HDBs there costs so much? It is because the supplies in those areas are very limited and there aren’t any new supplies of HDB any time soon. Furthermore, the HDB that was sold was an HDB terrace, which is very rare in Singapore.
Location is important and so is the type of property. The rarer the property, the higher value it will have. If you plan to buy one, you need to understand the mortgage on your million dollar home. How about selling one for a million dollars?
Can you do it too? Buyer’s perspectives
There are not many mansionette or jumbo flats around. Even if you have a normal flat, you can still do it and get a good price from your asset. The analogy is the same as purchasing a melon. Seeing a melon in NTUC and a melon in ISETAN is different due to the packaging. However, some melons in NTUC might not differ much in terms of the taste compared to those melons in ISETAN. It boils down to the packaging and yet there will be buyers for these products. Hence, owners have to de-clutter their property and beautify it if they are serious about selling the flats.
Can i still beautify the house without renovation?
The answer is yes! Even if you stay in a plain vanilla house, you still can beautify your own house. However, there is always work to be done to it. You can do up a repainting of the house to give it a fresh look. Thereafter, we can always do some furniture staging to prepare the house. This will help buyers to have a good perspective of how much space there is in the different rooms.
SO what do i do after selling my hdb?
The AMK couple is heading back to Europe. However, with the sales proceeds that they acquired from their HDB, they can move on to another property asset. Either way, they can purchase a property of higher value or use the profits to pay down their new house loan. The end objective is the couple are doing wealth accumulation at their age.
conclusion – Can you price your hdb higher
Importantly, to sell your house, you need to plan an exit strategy. Picking the right house from the start, location, and rarity, and decorating and de-cluttering the house will help to bring the value up. Start with understanding about the prices of houses in Singapore. The only next step is getting maximum exposure to ensure there are sufficient viewings for your house.