So it is worth paying for a high floor unit?
In the population dense city such as ours, everyone craves for a sanctuary in their homes. A place where you can proudly call your own. A place with a view like this! But is this worth it?
In the population dense city such as ours, everyone craves for a sanctuary in their homes. A place where you can proudly call your own. A place with a view like this! But is this worth it?
With the recent trend of HDB resale prices crossing the $1M mark, these lucky owners possess flats with common factors of a central location and a high floor level. Most of us know that for HDB BTO flats, it is usually the higher, the better. However this is less evident in private residential properties. What are the possible reasons?
1. Price Quantum At Play
Currently the most expensive high floor HDB flat ever sold is in Boon Keng City View DBSS, transacted at $1.2M. Jaw dropping no doubt, however this is still a sum within budget for a good number of buyers in the market. Conversely, for a private property of a similar size, location and view, it is likely to be exceeding $2M no less, a less attainable sum for the average folks.
2. Initial Cost
For HDB BTOs, the incremental dollars for each floor level is usually not as significant as compared to the gain in resale prices upon MOP. However in private residential launches, you can be paying a hefty increment for a higher floor that may not necessarily translate into higher profit when you sell in future. Unlike HDB, low floor unit is not always a bad purchase if you have someone to help you spot the good buys. If you are curious to see actual examples, drop me a note and I will send some data over.
For HDB BTOs, the incremental dollars for each floor level is usually not as significant as compared to the gain in resale prices upon MOP. However in private residential launches, you can be paying a hefty increment for a higher floor that may not necessarily translate into higher profit when you sell in future. Unlike HDB, low floor unit is not always a bad purchase if you have someone to help you spot the good buys. If you are curious to see actual examples, drop me a note and I will send some data over.
3. Better View At Lower Floor?
Interestingly in my recent viewing with a client for his purchase, he was specifically looking for a unit no higher than 10th floor. His take is that views of the condominium landscaping from the balcony and rooms are better from a lower level than a higher one. This is unconventional thinking but very true!
In the end, if you are getting a brand new HDB BTO flat, choosing a high floor unit is pretty much a no brainer. However for resale HDB or private properties, the answer is not as clear. This is when getting the right subject matter expert really makes it a difference.
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