How to Build the Ultimate Showflat Survival Kit

You want to win the condo or flat with the best facing? You want to crush the competition, and make them cry like nine-year old girls falling off a bike, by taking the last unit in an awesome project? Then you need to know how to view condos like a BOSS. You do that with this bomb-ass survival kit:

What goes into the ultimate showroom survival kit?

You’ll need the following:

• The 99.co app downloaded on your smartphone
• AIP letter
• Chequebook
• Foldable chair
• Thermos
• Umbrella
• Another voice of reason

1. The 99.co app downloaded on your smartphone

You’ll want the 99.co app to check the prices of surrounding properties, so you’re not getting a raw deal. You might also want to be aware of alternative options in the same area. Sometimes, the resale condo just across the road turns out to be  better priced – and just as well suited – as the new one you’re viewing.

(It’s a 25 to 30-year commitment, okay? You want to view all the options before you buy).

You can also use the app as a convenient way to scan the area, thanks to our map-based search tools.

2. AIP letter

Approval In Principle (AIP) comes in the form of a letter, from your bank. This states the amount they agree to lend you, should you buy a house (the AIP is usually valid between 30 to 90 days).

AIP is important for two reasons: first, it gives you a clear sense of what you can afford, based on your loan size – remember that the minimum down payment is 25 per cent.

Second, you may be putting down a cheque (i.e. securing the Option to Purchase, or OTP, at the showflat). The OTP is one per cent of the property price, and cannot be refunded later. So if you put down the OTP, and then find out you can’t get a bank loan, you’ll be forced to forfeit the deposit. Having AIP ensures that you’ll get the loan later.

If you need more help with getting a mortgage, check out 99.co. We can help you find the best rates, so you know which banks to approach first (and the probably repayments).

3. Chequebook

Don’t get to the end of a long line (for desirable launches), and then realise you didn’t bring this.

4. Foldable Chair

For the really long lines, you’ll be glad you brought this. Extra important for those of you with bad knees, ankle issues, etc.

5. Thermos

There may be complimentary drinks, but these tend to run out if a showflat is especially packed. Also, you can expect to do a lot of talking once you’re face to face with the agents.

6. Umbrella

There are times when you may end up outside the showflat – waiting for it to open, the line is too long and winds outside, etc. For those moments, you want your trusty umbrella. There’s also another side-benefit to this: you can hang your umbrella on a seat to “chope” it, if everyone is fighting for sitting room (not needed if you brought a chair – see point 4).

7. Another voice of reason

We always suggest that, when you go to a showroom, you bring someone sensible along. Those deposits are, again, non-refundable; so you want to be extra sure before you buy. Whether you bring a sibling, in-law, or just a really smart friend, be sure to have that second set of eyes.

Besides restraining your enthusiasm, they may think to ask questions you don’t. Buying a property is likely one of the biggest decisions in your life, so get all the help you can.

What do you love / hate about showrooms? Voice your thoughts in our comments section or on our Facebook community page.

Looking for a property? Find the home of your dreams today on Singapore’s largest property portal 99.co! You can also access a wide range of tools to calculate your down payments and loan repayments, to make an informed purchase.

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