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How You Can Buy Starbuy Unit via Virtual Tour During COVID-19 Circuit Breaker
It’s been into the second phase of Singapore’s COVID-19 circuit breaker period. I hope everyone is coping well working from home by now.
Amid the COVID-19 pandemic widespread globally, Singapore, a small limited land size country with a highly dense population and migrant workers, it is somehow more quickly for the COVID-19 virus to spread.
It’s one of the main reasons why the high dense worker dormitory and how the migrant worker socialize during their rest day that cause the widespread within their community in Singapore and thus having a high chance of spreading the COVID-19 virus into the local community as well.
As part of the preventive measure, Singapore has gone into its circuit breaker period since 7th April 2020, and later announced the extension of the circuit breaker to 1st June 2020.
Singapore COVID-19 Circuit Breaker Period 7th April 2020 – 1st June 2020
During the circuit breaker period, everyone is to minimize direct physical contact as much as possible, practice one-meter social distancing, and avoid going out as much as possible unless for essential activity or purchasing.
As such, it changes everyone’s daily life activity and habits from working from home to increases purchasing online more frequently. Not only that, but we also tend to see more online socializing as well, from online singing sessions to online drinking sessions and even online birthday party sessions via various connection platforms.
It is, therefore, the virtual world start to boom lately. Many businesses need to put to a halt to minimizing direct contact; thus, these business owners creatively went online to keep their business going or retaining their customers.
In Singapore real estate sector, it is considered a non-essential service. Therefore, resale home viewing, new showflat viewing, and activities such as meeting potential clients, be it, buyers, sellers, or tenants need to put to a halt as well.
With the halt of physical activities, many developers, real estate agents, sellers have adapted to go online to showcase their property or showflat units. This is where the buyers and tenants start to view houses without viewing them physically.
It is, therefore, deal sealed virtually from home viewing to electronically signing of the sale and purchase agreement to tenancy agreement. If a wet ink signature is needed, the courier services will be activated.
So, it is why today I’m going to share some tips that you can look out for when going into the virtual world for real estate where many buyers are taking the chance to snap up discounted units from the developers during these economic uncertainties period.
“Be fearful when others are greedy, and be greedy when others are fearful.” – Warren Buffett
Let’s begin now!
What is a virtual tour?
Instead of physically viewing the property, you will do it online via a video tour. Such a virtual video tour is full of motion where you can navigate inside out from the living room to rooms to toilets of the property. If you wish to have a closer look, you may also zoom in and out as well.
This type of 3D virtual video tour is made onsite from the actual property where you can see the exact property. It is unlike those 2D or 3D videos that are created by drawings that don’t represent the real property.
Example of Showflat Virtual Tour
How are virtual tours conducted?
Zoom Video Web Conferencing
Google Meet Video Web Conferencing
What you need to have for such virtual tours is just a smartphone, tablet, or computer, and you are ready to go for a property virtual tour.
You may contact any real estate agent for a showflat virtual tour. He or she should be able to schedule a virtual meet up via Zoom or Google Meet to share and give you a presentation about the development that you are keen and show you the actual showflat gallery 3D virtual tour.
If you need some advice, you may drop me a message. I will be able to schedule the virtual presentation and virtual tour for you as well.
Here are the things to can look out for:
When considering the purchase of a new launch property in Singapore, whether as a homebuyer or investor, it’s crucial to examine several key factors.
First and foremost, location is paramount; proximity to amenities, schools, and public transportation can significantly influence property value and livability. Next, scrutinize the site plan to understand the layout, facilities, and potential for future development. Orientation of the property affects natural lighting and ventilation, which are important for comfort and energy efficiency. Evaluating the floorplan is essential to ensure it meets your needs and preferences, including room sizes and overall flow.
Conduct a thorough price analysis by comparing similar properties in the area to ensure you’re getting good value.
Lastly, consider the potential for future development or growth in the surrounding area, as this can impact both the property’s value and your quality of life. By focusing on these aspects, you can make a more informed and strategic decision in your property investment journey.
Location
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- Be sure the actual location of the development. Some of the showflat locations are not at the actual development site.
- During the circuit period, it is advisable to stay home as much as possible and reduce social contact; thus, you may go online to check via Google Maps or from the Streetdirectory website to understand the surrounding of the actual development.
- Usually, an experienced real estate agent should share this piece of information with you during the presentation.
Site-plan
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- knowing the site-plan or be able to interpret the site-plan correctly is essential.
- Site-plan will indicate more information about the development such as orientation and facilities etc. Thus, with the site-plan, you will be able to shortlist the stacks that most suits you.
- For example, if you want to avoid units that are facing the main entrance of the development, you can see it from the site-plan. Another example, if you only like the swimming pool view unit, from the site-plan, it will be easy for you to shortlist at one glance.
Orientation
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- I have mentioned that the site-plan will tell you the direction of all the units. All site-plan will have a compass showing you the direction of the development and units. Thus be sure to check this out. In case you only like morning sun-facing, and you can shortlist at one glance from the site-plan.
- For orientation, it is something very subjective as everyone’s preference is different. But from my experience serving the buyers, be it a new launch or in the resale market, many of them many times will ask to avoid west sun or afternoon sun as it can get really hot in the afternoon. But occasionally, I do have some clients asking for west-facing units as they like the sunset views in the evening.
Floorplan
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- Next, buying a property, you cannot miss out on the layout of the unit that you are keen on. After shortlisting the stack, zoom into the floorplan, and compare which design suits you the best.
- Layout efficient is essential as you do not want to buy a home where you have so much wasted space that you cannot use them. One example is the odd shape layout. If the bizarre angle is less than 90 degrees, it will be tough for you to place your furniture, etc.
Price Analysis
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- For the unit pricing, you must check with the agent and compare both within the project and the surrounding projects as well.
- The agent should be able to show you the price comparison between projects and its star buy unit prices. With the prices, you will be able to work out your finances about your first outlay and, subsequently, monthly mortgage.
Future Development and Growth Potential
- The future development nearby will also determine your future property values. The agent should be able to show you the current URA Masterplan on the upcoming development in the surrounding. For example, if you are buying a property that is near an upcoming shopping mall or a future integrated transport hub, you will have a high chance of greater capital appreciation as compared to a site with no upcoming new development.
My advice is always to ask questions when you are in doubt. Make it clear before committing to any purchase as the property is considered a big-ticket item.
As we have seen, many businesses are changing their business model in how they conduct their business. Its the same for property developers. They are adapting to the new digital era methods where they conclude deals virtually. In the near future, we may see it to be a norm in real estate that buyers may view and buy property virtually.
In this COVID-19 pandemic, we see many are making and adapting to changes. It is the only way to improve and win the game.
Be Flexible and Adaptable to Changes
“You must be shapeless, formless, like water. When you pour water in a cup, it becomes the cup. When you pour water in a bottle, it becomes the bottle. When you pour water in a teapot, it becomes the teapot. Water can drip, and it can crash. Become like water, my friend.” ― Bruce Lee
“The measure of intelligence is the ability to change.” ― Albert Einstein
You may be keen to read on this topic:
How to select your ideal home in the showflat and avoid show gallery misconception.
I will end here today and hope everyone is doing well during the circuit breaker period. Take the chance and spend more time with your family for now. Cheer!
If you wish to schedule a showflat virtual tour with me, you may drop me a message, and I can share with you more in detail for a non-obligatory friendly discussion.
Take care and see you around!
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Hello, I am Darren Ong
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Darren Ong (王伟丞)
Senior Associate District Director
Huttons Asia Pte Ltd
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