Application for renovation loan

Yesterday, I went to OCBC at Sim Lim Tower to apply for OCBC renovation loan. My loan amount was $20k. I will pay the remaining $13.3k by cash. The lady officer in charge told me that there will be a $200 processing fee plus 1% of the loan amount. Somemore, there are no free gifts. They told me they will inform me by mail in one week's time whether the loan is approved or not.

I had initially thought of applying for a loan with RHB bank. But, they told me must set up an account with them. However, their processing fee is only $200 nett. And they are giving out a deep fryer or mini fridge.

I also opened a joint account with my gf. We deposited $1.5k. Next time, this account will be used to debit the renovation loan if approved. So, this will be our joint savings account. 

Currently, I am thinking of deducting the HDB loan from my own and gf's CPF account. That will make it easier for us to breathe.

Finally signed up with ID

Yesterday, I went to see the ID at 9am. Asked to add in the items in my previous posting. After that, negotiated the price of some of the items, about ten of them. The ID said he will send the new quotation to me yesterday afternoon.  

This morning, I went to see him again. The latest quotation was $33.5k with everything in. We fainally settled for $33.3k. I kind of regretted only subtracting some of the items inside the quotation. I should me more patient and asked him to reduce the price himself and then I minus somemore after that. I think that will bring the quote down to about $31k.

I went to Sin Siang Choon near Spore Expo after lunch. There were lots of stuff there and a wide variety. Too confusing for me, I think. Besides thatm the price is not cheap. 

I went to Spore Expo after that as there is a Home Furnishing exhibition there. I saw a sofa that I liked. But, it cost $1.5k, a bit ex for a fabric sofa. In Hall 5, there is Metro warehouse sale. I went in there and bought some Goldlion shirts and pants.

Now, the contract is signed. The next step will be to approach either RHB bank or OCBC for the home renovation loan. I think I will do that next Mon or Tue.

Final quotation from 1st ID

Wow, yesterday evening, I got the final quotation from the first ID. He had told me that it will be ready on Friday. I guess he is keen for my business. A lot of my friends said that business next year is going to be real bad, especially after CNY when people had exhausted their money.

The quotation grew 5k to 36k. I found that it is expensive, especially for certain furniture items such as wardrobe and vanity cabinet. I took out the quotation today and scrutinised it item by item. I made a few phone calls using the Yellow Book to the laminated flooring vendor and mirror vendor.

The laminated flooring vendor (Firmaflor) quoted me $2.80 psf and that includes the skirting and installation. There is no excess cost for wastage. My ID wants to charge me an extra of 140 sqf of wastage which amounts to an extra $560. Besides that, his price is $1 psf higher.

I had wanted a full length mirror (from floor to ceiling mirror) for my dining hall to make it look bigger. The ID told me that is expensive and he proposed only making the centre portion a mirror and covering the top and bottom with laminates. He charged him $1.5k for this. I called up a mirror vendor in Ubi Industrial Estate and was quoted $1.5k for a full length mirror and $620 for the type of mirror that he is quoting me. I think this item I kena carrot already. maybe I will delete this item from the quotation and do it myself.

Tomorrow is Xmas and I will look through the quotation again before I go out for dinner with my gf. Anyway, it is my 35th birthday tomorrow. Happy Birthday to me!

Another trip to the first ID

This morning went to see the first ID again. I listed out a few items I wanted to add in. I think this is going to bring up the cost to $35k.

The items I want to add:
1. Plastered walls
2. Joining of vanity top and wardrobe into one piece of furniture
3. L Box on top of MBR and hall
4. Kitchen back splash in frosted glass
5. Exhaust fan for MBR toilet

I also came with with a list of questions (about 20) to clarify my doubts. Finally I am clearer about everything.

ID said he will pass the quotation to me on Sat and I requested to go and see an ongoing project that he is doing now. If the price is right, I will confirm with him on Sat and put a deposit.

Another two quotes from different contractors

Two days ago, I got another quote from the third contractor I went to. I told them to keep within my $30k budget. Guess what, I got a quote for $46k. That is way off my budget. 

Yesterday morning, I went to my second contractor and got a quote for $44k. This ID was really patient and spent three hours talking to me on my initial consultation. Yesterday, we spent two hours talking. I would like to give the project to him but the cost is the factor. The most I would spend is $35k. And I think most of the stuff that I asked to be included are what I really want. I want my home to be the little enclave that I can come home and relax in. 

Last Wed, I went to Mustafa to buy my TV. The model I bought is Samsung 50A410. It is a 50 inch plasma TV, HD ready for $2499. I think that is a good buy and I got a free gift of $400 Robinson's voucher and a Samsung 8.1 MP digital camera free. Installation and the bracket is free too. I am looking forward to them delivering the TV to my workplace tomorrow where it will stay till renovation commences in Feb 2009. 

Today, I went to Jalan Besar area with my gf to look at sinks, taps, lights and fans. I went to Hoe Chuan and they have a wide variety of everything. The WC that I liked will cost about $282 each and I need two. So that is $564. Iliked a UFO tap that I saw, about $80 each, so that's $160. The kitchen sink will cost me about $500. The kitchen tap about $100. The rain shower set is $400. The water storage heater about $300. The instant heater in the common toilet is $150. Have I left anything out?

Total damage = $2174

I also stopped by a fans and lighting shop. The saleman quite aggressive, keep pestering me to buy on the spot. Friend, I will only buy just before the renovation. Money keep in the bank got interest one leh. I wanted five ceiling fans. He quoted me this Elmark brand fan with lights, $200 with the lights and $150 without. I will probably need three with lights and two without. So that will be total of $900 and installation is not free. Delivery is free though.

I went over to Mustafa (again) to look at the electrical stuff I have to buy. 

EF Hob=$300

EF Hood=$500

LG two door fridge=$700

LG front load washer(9kg)=$800

Rice cooker=$100

Thermos flask=$50

Vacuum cleaner=$200

Iron=$100

Aircon (system 3)=$1600

T0tal=$4350

Wah lau eh, gonna faint siah, all $$$ leh.

Anyway, Tue, I am going to see my first contractor who gave me a $30k+ quote without some of the items that I want, like plastered walls throughout and fasle ceiling. Let's see how much he quotes with these two items added in.

Time is the essence now. I intend to commence renovation in the second week of Feb 2009. I must finish by third week of March 2009. Or else my gf don't have a place to stay in. Her home lease expires at the end of March 2009. So, I have one to two weeks to make up my mind about the contractor I intend to use. After that, the interesting part starts, like choosing the color theme, the laminated flooring color and all those interesting stuff. I am looking forward to that.

Now, I think about it.........next year April (if everything goes well and according to plan) I will have a cosy home to stay in. My gf will cook dinner for me and when I come home, I will have home cooked food to eat. So, don't you think I am one happy guy?

Quotation by 1st ID

On Thur, went to see my ID for the 4th time. I had wanted some changes to the original design. On Wed, I was faxed the quotation by him and total came up to almost $32k. I went there at about 9.30am. Spent about an hour and fifteen mins there.

ID went through item by item with me. I felt that most of the prices were reasonable. But, the few items that I think I am overcharged are the carpentry works. Things like the walk in wardrobe, kitchen cabinet, study table. I told him that I felt that these items are too ex. And the price he has quoted me does not include the TV console.

He did some calculations and told me he would round off everything to $31k and that is inclusive of the TV console.

Now, I am thinking about adding three things.

1. Plaster all the walls so that they look flat. (quoted additional $1.8k for this)

2. TV console and feature wall. (about $1k)

3. Wall paper for MBR. (about $800)

So, that would add another $2.6k to the total.

I left at about 10.45am. Went across the street to another ID. This ID just won an award, being one of the 50 most promising brands. I was there from 10.45am to about 1.30pm. The ID was very patient and showed me tomes of projects that they have done. I had resisted walking in here as I felt that they looked expensive. I don't know whether I am right or not, but I will know on this coming Wed. I think I will go with a dark brown and light brown theme for my house. Possibly, I will go for a contemporary theme in the living room and a resort theme in the MBR. 

7 Dec 2008

Today, my gf and I went to Plaza the Furniture Mall along Beach road to shop for a mattress. I had read in yesterday's Straits Times Life section about the mattress on sale. Wow lau, Simmons, Sealy, Serta, Slumberland, Dunlopillo, 4 stars,.......So many until you see stars. Some of the ads had listed the original prices as $4k to $5k. I decided that this was an offer too good to miss. Therefore, i called up several of the showrooms to ask about 0% financing and delivery time.

I will only move into my flat at the end of March but I think now because of Xmas, there are a lot of offers, therefore I think it is the right time to buy. All the shops are willing to deliver in March. And all of them had 0% financing for major credit cards like DBS, OCBC, UOB and Citibank. I was lokking for 24 month financing and only DBS and OCBC had it. But, what I discovered was that most shops accept the same credit card but with different tenure for the 0% financing. DBS is quite consistent as they are the only bank with 24 month financing in all the shops that I asked.

At 5pm, we reached the furniture mall. First, we went to this Dunlopillo distributor shop. They have a wide range of Dunlopillo mattresses, ranging from a few hundred to almost $4k. I like one model at $2.7k but they only have 12 month financing. So, we went somewhere else. I tried one Dunlopillo mattresses at Takashimaya and wow, I don't feel like getting up already lor. But, the mattress cost about $4k, too ex for me. 

Next, we went to Slumberland showroom. I like one of the mattresses there for $2.7k but decided to walk around first. For the next three hours, we lie on ao many mattresses that I lost count. We went to Simmons but the matresses were all very ex and they do not have the soft feel that I want. I went to Sealy, quite good but ex. Went to King Coil but was disappointed. 

I learnt a lot about mattresses today. For the top, all brands have latex tops, memory foam etc. I like the feel of the latex top ones, very cushy and soft. When you lie on it, you literally sink into it. Then, the springs inside them matters too. All brands have their own names for their springs, independent pocketed springs, connected springs and all. 

The third showroom I went to was a Dunlopillo showroom on the first floor. I was surprised as the first showroom I went to was a Dunlopillo distributor as well. But this one was set up by Sime Darby the licensed distributor for Singapore. Surprisingly, the two shops don't carry the same mattresses. The Dunlopillo showroom carried the Imperial collection which the one upstairs don't carry. I was told by the lone salesman that this is the upmarket range in Dunlopillio and only the Sime Darby shops carry it. I was impressed, to say the least. The cheapest mattresses starts at $1.7k and it goes all the way up to $12k. I like one model called Hastings and I bought it. It cost me $2.8k for a queen size bed. As this is the Xmas period, they gave us a free bedframe, two latex pillows, one mattresses protector and an option to buy a foldable spring mattresses for $19. I bought it of course. 

This Dunlopillo Hastings model comes with a pure silk covered latex top (5 inch). I think when the bed is delivered to me in March, I can spend the whole day sleeping. It is so comfortable. The salesman was a Malay gentleman who is very knowledgeable but a little long winded, with a lot of stories to tell. But, he was real nice and he did not give us any pressure to buy.

Now, i look forward to sleeping on that bed.........................