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if i purchase 2 adjoining terraces, or 2 semi-d's ... am i allowed to turn them into 1 giant unit ?
assuming i buy 3 ABC rd and 5 ABC rd .. which are between 1 and 7 ...
can i rebuild them into a giant unit, still adjoin to 1 and 7 .. and i either keep the addess as 3 ABC rd or 5 ABC rd ..?
anyone any knowledge in this ?
any law forbidding this ?
If it is a completely rebuild, you need approval from authority.
Two attached Semi detach should not be an issue as long as you don't overbuild. Terrace maybe harder especially those with Piping + drainage linked to other units
I guess it should be ok to tear down the internal partition walls to create a single giant unit. If they allow it for condos, I don't see why not for landed houses.Quote:
Originally Posted by proud owner
CapitaLand's The Metropolitan press release on 6 Nov 2006:
The condominium offers a series of new-generation homes tailored to meet the changing lifestyle needs of young urbanites and multi-generation families. A key feature of the development lies in the range of the apartment layouts and flexibility of creating living spaces. For the young urbanites, there is a two-bedroom unit that is generously-sized to double up as a home office. As for multi-generation families, they may consider purchasing:
a. Single apartment customised for three-generation living.
b. Two apartments that are adjacent to each other. They are designed with the flexibility to remove the partition between the two units to create a single living and dining area. When the family’s needs change in future, the partitioning wall could be reinstated and one of the apartment units sold off individually.
amalgamation of 2 mukim lots is subject to approval by URA. however, from ur posting, it seems that you are referring to 3 ABC road and 5 ABC road as inter-terrace units, sharing an adjoining wall with 1 ABC Road and 7 ABC road.Quote:
Originally Posted by proud owner
Given 1 ABC Road and 7 ABC Road are likely to be inter-terraces which are not large enough to become semi-detached or corner terraces (there is a guideline on size, and the legislated process of obtaining the approval of the respective owners), what you can do is probably to tear down the adjoining wall between 3 ABC Road and 5 ABC Road. Depending on land size, this might not substantially increase the value of the adjoined property since it is STILL an inter-terrace. Better to assess first. To file BCA application, get architect to submit drawings and eventually do the A&A is a costly affair. Might not be able to reap the investment from the eventual gain in property value.
My 2 cents.
thanks for your input ..Quote:
Originally Posted by new2mondrian
i am thinking along that line ... i found a row of 4 units , 1 and 7 being corner terraces , and 3 and 5 are inter terraces ..
and 3 and 5 are for sale ..
i am thinking of buying them both ... and i also happen to speak with the owner of corner unit 1, and he is an old man, who comes over only during weekend,. on weekday ..they house is empty ..
he has kuasa the house to his son, who has immigrated to australia and became citizen .. so theres a chance that they will sell it as well ..
so if i can buy all 1 3 5 ABC road ... that will be nice ...
even if 1 dont sell now ... over time i might be able to buy 1 or 7 ..
who knows .. one day i can own the whole row ...
ahhah dreaming ...
then again ... arent all great men started as dreamers ?
actually there are tonnes of interesting facets to landed properties. For value maximisation, I would personally retain the dividing wall in between 3 and 5; UNLESS 3 and 5 are so small and tight that removing the retaining wall will create an airwell in the middle and bring in more light and ventilation as well as create a larger frontage to enhance the value of the property.Quote:
Originally Posted by proud owner
The problem is 3 and 5 are inter-terraces. Let's say they now cost $1.3M EACH, which is $2.6M in total. You apply permit for amalgamation, hire an architect and do extensive A&A, this will set you back by $450k (at least) for 2 terraces. And this $450k if funded by bank loan will be classified as renovation loan which attracts a far higher interest. Let's say you have sufficient cash to cough up this $450k in full. Then the cost of your INTER-TERRACE is already over $3M, including stamp duty. To find a buyer for such an inter-terrace to pay $3.5M and above for you to break even can be quite difficult unless the location is super compelling. For the above, I won't tear down the retaining wall.
To hope that 1 ABC Road can sell eventually is a big gamble which might never crystallise. Buy the property on its present merit. Hope this helps.
A&A costs only $450k total for 2 inter-terraces? Do you have the builder's contact? The last one I asked was quoting me $160psf for A&A, so 3000sqft X $160psf = $480k, but 2 terraces should be around 6000sqft x 160psf = $960k...Quote:
Originally Posted by new2mondrian
I said minimum $450k for A&A (not rebuilding) 2 inter-terraces, with the assumption that they will be done up side by side together. A&A (additions and alterations) is much cheaper than rebuilding cos the main building structure is preserved, though I agree that the quotation which you obtained from your builder for rebuilding is a fair quotation.Quote:
Originally Posted by focus
The builders I worked with were from Meridien Homes. At that time I got a quotation from them, but did not eventually proceed to do the A&A. Given A&A work differs vastly in terms of scope, there is no fixed quote. They need to see the place and take in the owner's requirements to do up the quote.
For rebuilding of homes, Meridien's quote is available on their website. Appox $550k and above for REBUILDING of a semi-detached ($180psf). But rebuilding involves removal of main structures and piling works. Given soil condition differs across of Singapore, what is quoted is based on normal guide price. For example, the entire Opera Estate in Siglap sits on Marine Clay (one of the softest soil in Singapore). Hence MICRO piling is required, which costs 2 times the price of normal piling. This drives up the rebuilding cost too.
Best to get an architect to quote based on existing conditions. My 2 cents.
http://meridianhomes.com.sg/web2009/...=cat_newhouses
Actually I realised that Meridien Homes also have some samples of A&A homes in their website, with their indicative price tag (from $350k upwards). Pretty interesting...
20 years later when my child is grown, and we have saved enough moolah for retirement, our dream is to build our own retirement home. :)
http://meridianhomes.com.sg/web2009/...at_remodelling
Thanks.. will add them as another source for project quotation :)
That'll be the wisest investment of all times! :cheers1:Quote:
Originally Posted by proud owner
In fact, we should all group together to "take over" two rows of terrace houses, then do an "en bloc", like what those people below have done.
Landed en bloc is always more profitable (percentage wise) than condo en bloc because of the magnitude of difference between the allowable and existing plot ratios.
So proud owner buys 1, 3, 5, ABC Road, Reporter buys No. 7 (since he likes the number 7).Quote:
The Straits Times
Nov 21, 2007
Sweet collective-sale deal for 15 terrace houses in Balestier
IT TOOK 18 months but the owners of 15 terrace houses in Balestier have pulled off a sweet deal to match some of the collective sales that have been making headlines all year.
They have banded together to sell their properties for $61 million, giving each a payout of about $4 million.
This is two to three times what they would have made for their homes individually and a huge gain for those who bought several years ago.
Retiree Ho Chaw Fu, 70, is 'very happy with the price'. No wonder: Mr Ho bought his house for $300,000 about 30 years ago.
The buyers of the terraces are understood to be a Chinese property developer and its Singaporean partner.
They can build up to 36 storeys on the site, which has a plot ratio of 2.8.
About 56 apartments can be built with an average size of 1,500 sq ft each and may eventually be sold at $1,400 to $1,500 psf.
The facing row, I buy 8 (facing Reporter), focus buys 6, and then get Property_Owner to buy up 2 and 4.
Can you imagine the following news ...
Quote:
The Condo Times
Nov 21, 2012
Sweet collective-sale deal for 8 terrace houses in ABC Road
IT TOOK 18 months but the owners of 8 terrace houses in ABC Road have pulled off a sweet deal to match some of the collective sales that have been making headlines all year.
They have banded together to sell their properties for $80 million, giving each a payout of about $10 million.
This is two to three times what they would have made for their homes individually and a huge gain for those who bought several years ago.
Retiree focus, 70, is 'very happy with the price'. No wonder: Mr focus bought his 4,000 sqft house for only $2.8 million about 3 years ago.
The buyers of the terraces are understood to be a Chinese property developer and its Singaporean partner.
They can build up to 36 storeys on the site, which has a plot ratio of 2.8.
About 56 apartments can be built with an average size of 1,500 sq ft each and may eventually be sold at $1,400 to $1,500 psf.
Err ... how much is "7 ABC Road" selling for? Not too expensive I hope.Quote:
Originally Posted by jlrx
According to my imagination, it should be $2.8 million.Quote:
Originally Posted by Reporter
As for the real ABC Road, you have to ask proud owner, because I don't know where it is. :confused:Quote:
Retiree focus, 70, is 'very happy with the price'. No wonder: Mr focus bought his 4,000 sqft house for only $2.8 million about 3 years ago.
but first let me check if ABC road is 'designated landed" ..Quote:
Originally Posted by jlrx
if it is ,...then it cannot be turned into condo ..
if it is 'non-designated'..then there it can be enbloced and build into condo ..
bit i like the idea ..
how to check if designated landed?Quote:
Originally Posted by proud owner
in URA website ... have to pay to extract such infoQuote:
Originally Posted by housewife
thats why some landed est will forever be landed ... while some , can have condos springing up
so for those planning to buy landed and want to remain as landed and not risk neighbours turning into condo ...better check first ...
I thought you can get such information in the URA website under the Master Plan 2008?Quote:
Originally Posted by proud owner
But it depends on the buyers, some may prefer to buy landed in non-landed zone so as to have enbloc potential.Quote:
Originally Posted by proud owner
Yeah! Let's pool our resources and be a small time mini property developer company..! :)
can i partake? :ashamed1:Quote:
Originally Posted by focus
I'm sure JLRX won't object to it..Quote:
Originally Posted by august
He's the one who suggested it..
Anyway, I got no experience in this.. so better to JV with people who have done it.. or to spread the risk with other people..keke.. all chip in a few hundrek k .. maybe can buy land and build 2 semi-ds without bank loan.
how to check?Quote:
Originally Posted by xebay11
www.ura.gov.sgQuote:
Originally Posted by housewife
http://www.ura.gov.sg/mp08/map.jsf?goToRegion=SIN
Click on landed housing areas plan.
Sorry. There are only 8 terraces, already all bought up (That's why buy property must act fast!)Quote:
Originally Posted by focus
You can ask proud owner or Property_Owner whether they want to sell you one of their extra terraces. But you can partake in the re-development (I will elaborate in another post after I have worked out the calculations).
The row of terraces cannot be too long e.g. with houses 9, 11, 13, 15 ... etc otherwise the land will be too elongated.
8 terraces just nice to form a squarish piece of land. Let's say each terrace is 24 m X 15 m (where 15 m is the frontage) then this whole piece of land will have a width of (24 + 24 + 6) = 54 m (including the road which we buy from the government as state land) and length of 4 x 15 = 60 m.
Squarish lands are the most preferred for development.
Thank u!!! :)Quote:
Originally Posted by xebay11
Quote:
Originally Posted by focus
Quote:
Originally Posted by august
focus has a good idea! :cheers1: That is another way of making profits ... we can form a small time "mini property developer company".Quote:
Originally Posted by jlrx
Then august can also "partake" ... (plus isaaclim, housewife, xebay11 and new2mondrian).
Our this "mini developer" company shall have a paid up capital of $50 million.
Divide into 10 shares of $5 million each, one share for each of the following: proud owner, Reporter, jlrx, focus, Property_Owner, isaaclim, august, housewife, xebay11 and new2mondrian.
So each person comes up with $5 million.
Of the $50 million, use $22.4 million to buy up the 8 terraces (but must buy stealthily ... one by one ... because the moment you say you are developer buying en bloc, the price goes up 3 times).
We are left with $27.6 million.
Assuming the total land area to be (as worked out in the previous post) 54 m x 60 m = 3,240 sqm (34,875 sqft) and a plot ratio of 2.8, the total GFA is 97,650 sqft.
Assuming construction costs of $250 psf, that's $24.4 million, which leaves us with $3.2 m to purchase the state land (the road in between the two rows of houses).
Here is where we pray to our Mickey Mouse god ...
http://blogs.fayobserver.com/faytoz/....thumbnail.jpg
The GFA of 97,650 sqft is to be built into 200 units of Mickey Mouse units of 488 sqft.
What is the psf price? Since Geylang can achieve $1,514 psf, ABC Road should be able to achieve $1,900 psf (I don't know where it is but should be more prestigious than Geylang I presume).
That's $927,200 per unit (as long as you keep it below $1 million it'll be affordable ... isn't that the new mantra?)
So 200 units x $927,200 = $185,440,000.
Divide this by 10 shares, each of us gets $18.54 million.
Not bad for an investment of $5 million.
Now I see why even Aztech Computers and Popular Bookstore want to be a property developer.
Repeat that a few hundred times and turn all landed properties (zoned non-landed) into condos, and we become the next Far East Organisation. :cheers1:
Hahaha, good idea!!! Count me in!!!
For one I have been eyeing the old landed properties around Potong Pasir MRT for the longest time, but simply no one is selling... Rajoo Casket and team looks very comfortable there. :( Right next to MRT (literally), Freehold, plot ratio of 3.5 (revised upwards in URA Masterplan 2008), unblocked views (cos across the road is the Senett Estate landed housing with plot ratio of 1.4).... currently just old old 2-storey shophouses.... with rats scurrying through their sewers every now and then and the unmistakable smell of Indian curry in the air.
Quote:
Originally Posted by Property_Owner
hahhah
just for your info ... when the Sails was launched ...
i know of an average income family .. pool funds from cousins, in laws, etc etc ... 10 persons ...and bought a unit ...
which they sold of very very quickly ...
and they were so so happy ..being their very first virgin punt on property and they made some 150k nett... so thats 15k each
anyway they never did it again ... mkt ran away after that ..and it was hard to gather the same 10 persons again ..nor to reinvest that 150k as it was their first 'windfall' ...and they wouldnt take it out of their pocket again ..
Maybe we can start a co-operative :D