Biggest mistake new condo owners do unknowingly

It all starts with condos review, then you find one that wins your heart, you sign the Option to Purchase and years later get a call that your unit is receiving Temporary Occupation permit so you can start renovation work and prepare to move it. The roller-coaster of choosing the right furniture and the grand housewarming runs so fast leaving you venerable to mistake, just like a majority of other new condo owners in Singapore.

It’s typical that any time we something new, a car, phone or appliance we “stress test” it to see if there is an issue with it. Well, it’s the same case with your new condo. You will want to test the swimming pool, bath tabs, ovens and any other appliance in it. During this process, your new property falls at high risk of perils, which you are yet to insure.

In case these accidents occur, they might leave your condo flooded more so if you stay on the ground floor. If there is significant flooding, you risk getting your furniture, electrical appliances and flooring damaged.

During this few months, a lot of repairs happens either from you or your new neighbors. During this renovation cases such as water pipes burst, accidental fire or breakage cases are at the highest. If you are in a new development most people tend to assume the place is burglary proof, so not security systems mind changing old locks to new ones. If these happen, then you risk losing a lot of valuables such as jewelry and their expensive items you possess.

Are condos insured by default?

Condo’s Management Corporation (MC) purchase insurance coverage for condominiums in common areas and buildings. This insurance is known as fire insurance, which also covers other perils besides fire including lighting, water pipes bursts, gas pipe explosion, smoke damage riots, etc.
It is, however, important to note that fire insurance only pays for reinstating damage to a home structure and its original fixture. This means that losses incurred on renovations, furniture, appliances and other content inside your home remain at risk.

To adequately cover your condominiums against perils, you, therefore, need to take home content insurance which covers items inside your homes. This, thus, complement the fire insurance. If you have spent $50,000 and $25,000 on furniture, you stand to incur an enormous loss in case these perils occur with only fire insurance. For costly items such as jewelry, you need to take more measures and cover them individually.

If you take your home content insurance, you have the responsibility of reviewing the policy regularly. Policies change over years, with a dollar value of items also changing drastically. If this happens and there is an occurrence of peril, your sum insured need to be up to date otherwise you risk not being compensated accordingly.
If you are moving to a new condo and plan to invest in furniture and renovation, then it’s wise to protect your home with sufficient insurance.

rivercove residences executive condo

Rivercove Residences: Luxury Residential Accommodation


Rivercove Residences is one of the most luxurious residential going to be launched soon in the upcoming year. It is one of the biggest projects of Hoi Hup Realty. Hoi Hup Realty is one of the biggest construction companies of Singapore whose last project Hundred Palms Residences is a huge success. According to news, its 100% of flats sold out in just 7 hours of opening the sales counter.

Register your interest here now! Don’t miss out this golden opportunity to own an EC in 2018


This Anchorvale Lane EC is located on the best location of Sengkang and will be having about 635 flats overall. Hoi Hup Realty is serving the country for more than 34 years and is considered to be one of the most trustworthy construction companies whose brand name is just enough for considering about its work. According to reports, Hoi Hup Realty is the dominator of the two latest executive condominiums launched in the years 2017 and 2018.

According to government master plan, this wonderful executive condominium is going to have all most 10 blocks including about 16 stories in each. Lavishing and well furnished three to five-bedroom type flats are just more than enough according to the needs of a normal family today. If you are willing to book your luxurious home Singapore in one of the most luxurious and lavished location; then don’t miss the opportunity and grab it as the sales counter open ups. It is one of the most wonderful deals which you surely going to enjoy more in future too.


What makes the Rivercove Residences EC luxurious?

Rivercove Residences EC is located in the most luxurious and best locality of Sengkang i.e. Anchorvale Lane. It is one of the highest bidder lanes of Sengkang which includes all most all of the best facilities of the city nearer to it. It is the best place for entertainment, shopaholics, athletes, sportspersons, and much more. Various shopping malls, best shops,  educational centers, hospitals, parks and much more resides nearer to this wonderful executive condominium which adds more to its features.

Another best thing about Rivercove EC is the presence of river Sungei Punggol nearer to it. This wonderful site is a mature residential estate which is very much closer to the town. Nan Chiau Primary school which is at almost 1 KM distance to it, Anchorvale Community Club, Sengkang Sports Center, Compass One, Seletar Mall, Sengkang General Hospital, and much more are some of the best amenities that add more to make it more luxurious place.


What is the floor plan of Rivercove Residences EC?

The site plan for Rivercove Residences EC is near about 17,196 sq meters, which means that quite larger area which can also include a playground, part and much more along with the main construction works. This amazing executive condominium is considered to have 10 blocks of about 16 stories each which will include near about 635 flats of three to five bedroom types flat. Rivercove EC is also considered to have swimming pools, tennis courts, balconies, Jims and much more inside it so that the people could get more comfort.

4 reasons renting a house is better than buying one

Not everyone has the financial strength to buy a house. Investing in a house is a long-term commitment and unless you have a secured job and some good amount of savings, you won’t be able to afford to buy a house. But it doesn’t mean the end of the world. Renting a house is a good option and sometimes even people having the ability to buy a house prefer renting one instead. These are the reasons why renting house is a better choice than buying it.

Cheaper option than buying a home

Even if you get a mortgage, you will need to pay an upfront down payment. This is a huge amount and can be difficult to manage. Your savings will be stuck up in the house and you won’t be able to free up your money unless you sell the house. The monthly mortgage payments are also expensive. So, a major portion of your monthly expense will go into paying for your mortgage payments.

No maintenance hassles

If you buy a house, you will need to take care of all its maintenance requirements. It is a very crucial job and you may have to spend a lot of time maintaining your home. If your HVAC system breaks down or there is a leak in the pipe, you will have to fix it. Sometimes, the maintenance cost can be expensive.

Offers flexibility

You might lose your job or go through a personal crisis for which your financial condition may deteriorate. In such cases, you can shift to a smaller house if you rent a house without any difficulty. You might have to move to a new location for your new job as well.  Once you are a homeowner, you will find it very difficult to sell your house on a short notice.

No risk

There is always the risk of decreasing property value. Buying a property is a big investment and you will put all your savings at risk. Instead, you can keep your savings in a bank and enjoy the interest. There is no risk of losing your capital.

Sometimes, it can be a better decision to rent a house than buying one. You should consider your financial condition and need before buying a property.