Closure is done! Purchased property

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As I stated in a previous post, CPF staff told me that the standard processing time to deposit my money into my bank account was 5 months. Hence, I am surprised that it was done 3 weeks later! Wow.

Once again, the Singapore government agencies' hallmarked efficiency was in effect. Thank you!

Also, the amount was a little more than the balance as at end of 2023. They probably added in prorated interest (unexpected because interest is declared on a quarterly basis but credited annually) and maybe partially refunded Eldershield premium. Either way, this is much appreciated!

On a related news, I recently purchased a condo unit in the same block as my sister's unit. I've been mulling over this for over a year already. The only important reason for this is to have a place where my mum can live in if she ever needs a helper due to health condition, like how my dad needed one especially when he was no longer mobile. My sister's place simply has no space to for a helper to live in. My plan is that once mum is weak but still mobile, I'll move in and look after her. Otherwise, as long as she's healthy, it's best she lives with my sister's family because of the two grandchildren :)

It's important to get a unit in the same condo project so that mum and my sister's family can easily spend time with each other. To get one in the same block is even better.

Once this unit is renovated, I'll try to get it rented out for as long as my mum doesn't need to live in it yet. I'm glad that my sister accepted my offer to hire her (with compensation, of course) as my renovation project manager :) She also found an agent who does tenancy management, so that's great!

I plan to nearly fully furnish the unit so as to attract "higher level position staff" (to quote the agent) to minimise the risk of bad paymaster. Hope all goes well!

Comments

William said…
Hope you get a good tenant
February 19, 2024 at 11:48 PM
J said…
So lovely to hear someone having purchased a home. Hope mom has a wonderful latter phase of her life with you.
February 23, 2024 at 1:24 PM
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