Beautifully Renovated Low-Floor HDB Successfully Sold At $40,000 COV
Colin came for a viewing of one of our properties at Tanjong Katong. After the viewing, he asked us some questions about the real estate scene in the neighbourhood; as well as our opinions about the options he was considering. Unfortunately our property was not suitable for him as it did not match some of his criteria.
He subsequently bought another house in the area, which he viewed after our chat.
To our pleasant surprise, he approached us to help him sell his property, which he aimed to let go in 2 months.
This was a gorgeous EA in Tampines, on the 3rd floor, beautifully renovated in a modern industrial theme.
However, there were a few concerns that would limit the number of potential buyers:
(1) The balcony as well as master bedroom faced the TPE, so there is considerable level of Road noise
(2) Ethnic quota restrictions allow sale only to Chinese buyer
(3) Low floor
(4) He hacked away 1 bedroom, hence there were only 3 bedrooms left. Originally, there were 4.
(5) A distance from the nearest MRT station
We decided to focus our target on the specific buyers who will appreciate the house as it is by:
(1) Feature the house in a more detailed video to highlight Unique Selling Points and focus the attention on the intrinsic details of the industrial theme renovation just 5 years ago. After all, it means that the potential buyer need not spend time, effort or too much money to pay for all the renovations.
(2) Being upfront with buyers about facing & road noise to ensure buyers who come for viewing are well-informed and serious.
(3) During viewing – Turn on all lights and air-con for an enhanced viewing experience.
(4) Opening the balcony doors to show the extent of the noise level. (After all the buyer is going to be staying there a long time!)
We had 8 groups of buyers came on 1st weekend and successfully sold the house in 1 month, $40K above valuation!
The buyers are a young first time home owners in their early thirties working nearby. As they fly frequently, they did not want to spend too much time on renovations. They loved the style, the design and all the quality items in the house. What’s more, they usually enjoy air conditioning anyway, so not opening the windows and noise level from the highway was not an issue for them! (In fact, the highway being so close by was an added bonus as it made driving to work easy for them!)