Where should you stay for your final retirement home?

You have worked hard and you have looked forward to this day. Now that work is officially out of your life, you finally have time to enjoy your new retirement lifestyle. Singapore is an expensive city to live in, however, with the right financial planning, you can definitely enjoy your remaining years in comfort.

Our homes are a retirement asset! Especially if you rent out the extra rooms for cashflow, or if you downsize from a larger unit to a small unit, leaving the additional cash for retirement. Depending on your financial capabilities and your needs, there are a few options for your final retirement home.


For those who prefer a simple lifestyle with less area to care and clean for

Seniors with a bigger existing flat, condominium or landed property than what they actually need . Eg. their children have already moved out — can monetize their property by selling it for cash before purchasing a fully-paid smaller unit and keep the sale proceeds for retirement, coupled with CPF LIFE or other annualties to sustain their expenses.

Where should you stay for your final retirement home?_Home Quarters SG_KC Ng Keng Chong

SHB Example Source: HDB

Through the Housing Development Board (HDB)’s Silver Housing Bonus (SHB), homeowners aged 55 years old and above who are selling their current HDB flat or private home with annual value not exceeding $13,000 and are buying a 3-room or smaller flat can receive a cash bonus of up to $30,000.

To be eligible, there are a few conditions including the top-up of $60,000 of the sale proceeds into the CPF Retirement Account. This scheme is a good alternative for seniors who prefer to right-size to a smaller apartment that requires less maintenance.

A possible option following the sale of their old flat would be the purchasing of a short-lease 2-room Flexi HDB flat meant for elderly Singaporeans. Under the 2-room Flexi scheme, retirees may apply for a shorter lease period of 15 to 45 years. Note that the chosen lease must be able to last you, your spouse, and all buyers until at least age 95 — to better serve their needs and preferences.

You could even request for the Senior Priority Scheme (SPS) to be prioritized for a Flexi HDB flat by choosing a unit near to your previous flat or your married children’ flats.

The social benefit of living in elderly-friendly studio apartments is abundant. 2-room Flexi units usually offer elderly-friendly features such as grab bars, retraceable clothes-drying racks and lower kitchen counter-tops for wheelchair users.

Elderly residents of these studio apartments have no lack of interaction. As they live in close proximity with fellow retirees of similar ages. The neighborhoods also provide facilities to drive social cohesion such as community farms and community plazas.


For those who prefer more interaction

Where should you stay for your final retirement home?_Home Quarters SG_KC Ng Keng Chong

Lease Buyback Scheme Source:HDB

The Lease Buyback Scheme (LBS) allow children to buy-over their current house from their parents so that they assume the property debt of their parents — there would then not be any changes to the lifestyle and living environment as everyone would continue to live in the same home.

Moreover, especially in matured estates, there are many grants that enable children to buy-over their parents’ houses. With this arrangement, parents would retire without paying the rest of the mortgage as it would be taken over by their children, and they would also receive the sale proceeds through a top-up to CPF Retirement Account and cash when their children purchase their homes.

Seniors who choose to stay in their current 4 or 5-room HDB flats with empty rooms after all their children have moved out may opt to rent out the unused space for some extra income. Renting is a great way to utilize the empty spaces while gaining interesting new flat-mates to interact with.

Retirees with less-than-sufficient savings in their bank accounts would not need to worry about daily expenses and allowances since renting provides them with a regular passive income. Furthermore, children would be reassured to know that there would be tenants living in the same apartment who could assist their elderly parents with any emergencies — much at ease than if the elderly parents were to live alone. A win-win solution! 

For some elderly Singaporeans, families are a key source of emotional and financial support, and seniors also play an important role as caregivers for their young grandchildren. While the proportion of three-generation resident households in Singapore has decreased over the years, it remains a viable option as a potential retirement living arrangement.

There is definitely no lack of activities — or some might even say chores — when one chooses to live with their grown-up children and their nuclear families.


For those who prefer something more luxurious

Where should you stay for your final retirement home?_Home Quarters SG_KC Ng Keng Chong

Seniors who enjoy privacy and space would prefer to stay in a landed property. In a landed property, seniors would have the freedom to make any modifications as they want — including rearing koi fishes in a pond in the backyard or a homegrown vegetable garden!

A landed property with at least a 999-years-leasehold would also serve as a legacy to be passed down through generations. Given the large space in the landed property, elderly Singaporeans would have no shortage of family gatherings to be hosted in their homes.

For seniors who like to keep active, a small studio apartment or a 2-bedroom unit in a condominium would make an attractive retirement home. One example is the 60-years-leasehold The Hillford which was designed as a retirement resort. They offer a full range of facilities and services to cater to the elderly residents such as 24-hour concierge, domestic help and medical care.

Apart from the security of these residences, condominiums provide facilities such as swimming pools, tennis courts and gyms, which encourage retirees to maintain a regular healthy lifestyle. Elderly residents of condominiums could also easily invite friends and family members for gatherings in the karaoke rooms, function rooms or barbeque pits provided in the complex.

All in all, there are different types of housing arrangement to suit different retirement needs and preferences. It is most important to know you like best before making a plan towards achieving it.


Contact Us

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We’d be happy to provide you with various analyses, advice, and any sort of assistance you may require! Whether you’re a buyer or a seller. Whatsapp message or call KC at +65 8809 2889! Leave your contact details and any queries down below, and we’ll contact you ASAP.

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

Selling Like Hot Cakes Now: Avenue South Residence Condominium

Imagine staying in one of the tallest residential buildings in Singapore. That will be the Avenue South Residence, a 99-year leasehold condominium located along Silat Avenue.

Consisting of 1,074 units across two 56-storeys high residential towers and low-rise buildings, it has a total land area of 245,974.6 square feet with a range of unit types from 1-Bedroom to 4-Bedrooms.

Slated for completion by 2023, residents will get to soak up amazing views of Keppel Terminal and Sentosa from the balcony on the top floors.


Avenue South Residence Condominium Fact Sheet

Property Type: Condominium

Tenure: 99 years

Address: 11 Silat Avenue Singapore 160149

TOP: 2023

Gross Floor Area: 84,550.69 sqm / 910,096 sqft

Blocks: 7

Units: 1,074

Floors: 56

Developer: UOL Group Ltd., Kheng Leong Co and UIC Ltd


The companies behind this brilliant creation 

Avenue South Residence is jointly developed by UOL Group Ltd, Kheng Leong Co and UIC Ltd.

UOL is one of Singapore’s top-performing listed companies with a rich portfolio in properties and hotels, including The Tre Ver and Spottiswoode Residences. Their developments are well-planned and of good quality.

Thus, we can be confident of project completion and the excellent standards of the condominium amenities and facilities.


What can you expect from living here

Avenue South Residence is located on the fringe of the CBD, in the Bukit Merah region, currently 1.2 km away from Outram Park MRT station.

However, a minute away from the residency is a bus-stop where residents could get to Outram Park or Harbourfront MRT station in just 5 minutes.

Also, with the Cantonment MRT station (0.7 km away) and Keppel MRT station (0.8 km away) along the Circle Line set to commence in 2025, commuting time for residents would be reduced.

At just a 10-minute drive away from the CBD and Orchard Road, Avenue South Residence is a perfect choice for those working in the CBD. Those who prefer to live in close proximity to their places of employment.

Though, with most people working from home these days due to the COVID-19 situation, maybe this will not be a key push factor — but when you buy a property, you are making a long term investment, and we are all hoping that life would go back to normal in the future!

Singapore General Hospital Source: SGH

With the Singapore General Hospital and the Tanjong Pagar Neighbourhood Police Station situated close to the condominium, residents do not have to worry about security and access to medical help.

Within walking distance from Avenue South Residence are various food and grocery options such as the Blk 148 Coffeeshop, a 24-hour grocery store and Silat Avenue FairPrice supermarket, so residents definitely can settle into life quickly.

The location of Avenue South Residence also offers much convenience for families with children of all ages. There are a number of PCF preschools within a 5-minute drive as well as primary and secondary schools such as CHIJ St. Theresa, CHIJ Kellock and Radin Mas Primary School at just a 10-minute drive away.

For future tertiary students, Singapore Polytechnic, National University of Singapore (NUS) and Management Development Institute of Singapore (MDIS) are relatively nearby.


Maintaining an active life with Avenue South

Apart from the usual facilities and amenities in condominiums such as function rooms, study rooms and tennis courts, Avenue South Residence would have a childcare centre and 8 commercial shops – making your life easy and convenient without even leaving your home complex.

Some interesting facilities are the rock climbing walls and mini golf area. For the avid swimmer, there is a 50 m lap pool, as well as a beautiful infinity pool on the top deck.


The biggest spotlight is also on the upcoming Great Southern Waterfront. The Urban Redevelopment Authority (URA) have plans to develop the area.

As a new major gateway for urban living along Singapore’s southern coast, this will include the Sentosa, Marina Bay and Labrador Park area.

Residents of Avenue South Residence can look forward to increased access to different parks and nature trails along the waterfront.


What do we think

Avenue South Residence has good investment prospects given its location and nearby amenities. Residents who enjoy nature and an active lifestyle would definitely have no lack of weekend activities once the Great Southern Waterfront is fully developed.

Its connectivity to multiple MRT stations and CBD makes it one of the more convenient residential developments in the recent years.


Contact Us

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That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

Best Buys on Taobao to Elevate Your New Home

Now that you have a new place you can call your own – how do you elevate your house to become a home? You do not have to break the bank to fill your cozy little space! Just like many of your peers who have turned to Taobao, you may have scour the website to find yourself overwhelmed by the amount of choices there.

Taobao has made modern aesthetic decor so much easier, but first, you have to choose. Here, we have curated some of the best buys on Taobao that will bring style and everyday practicality to your daily routine.


Best Buys on Taobao for the Kitchen

#1 Kitchen Towel Dispenser

For those that enjoy cooking – whether is it a daily activity or a weekend hobby, you will find that having a good kitchen towel dispenser is absolutely essential! This nifty, handy dispenser can be suspended from a ceiling or a wall. This allows you to place it at a location where it is the most convenient for you.
Purchase link


#2 Fridge Side Carrier

For a welcoming and homey touch, you can hang this pretty fridge side carrier. It also provides extra storage space beside the fridge – perhaps to store some stationery or kitchen supplies. Not only that, it makes for easy cleaning – simply pop the entire carrier into the washing machine instead of having to wipe the fridge down.

Purchase link


Best Buys on Taobao for the Service Yard

#3 Hanger and Pegs Holder

Laundry chores are part of everyday life. As much as we want to imagine a Konmari-lifestyle and hide these unsightly things in the storage all the time, it may not be practical. This chic hanger and pegs holder is a must-have for minimalist home decor. This aluminium holder is in matte black, and does not require any drilling to secure it to the wall.

Purchase link


#4 Classy Umbrella Holder

For tropical dwellers in Singapore, it would be essential to have an umbrella holder for rainy days. What’s better is to get an elegant one that will greet you everytime you come home!

Purchase link


Best Buys on Taobao for Lighting

#5 Denmark Centrepiece Lamp

If you’re looking for a bit more oomph in your living room, consider investing more in a state of the art lighting centrepiece. Why not, since you would be looking at it everyday, and guests would certainly notice it and be impressed! These chic lamps from Denmark are eye-catching and not too loud. The shop that sells these lamps also have a range of styles to match your home decor. 
Purchase link


Best Buys on Taobao for Storage

#6 Stylish Storage Basket

Chances are, you would need storage baskets for laundry, extra magazines, or even pet supplies. These baskets help you hide the clutter – so they had better look good while doing it. These baskets are stylish and fit into the Nordic theme of most homes nowadays. 

Purchase link


Best Buys on Taobao for Drawers & Shelving

#7 Wooden Book Shelf

Shelves may appear to be mundane furniture, but any interior designer would tell you to never go easy on details. These shelves would nicely display your books and favourite souvenirs from memorable trips. The shape and cutting of this shelf is also not your run of the mill sort from Ikea, adding sophistication to any room you place this in. 

Purchase link


#8 Bedside Table

When we are sleepy from our slumber and trying to grab our smartphone or spectacles, how many times would these items fall to the ground? This bedside table is one with a smart design – notice the little catch at the edge? It helps to prevent this clumsy situation (and broken phone screens!) 

Purchase link


Conclusion

What other fantastic home items did you spot on the wonderful shopaholic haven of Taobao? There are so many new and ingenious items featured everyday – so let’s share the knowledge with others by commenting below! Let’s build the longest list of the best buys on Taobao for home decor and practical needs! 


Contact us

If you are looking to conduct any home buying, selling or renting, be sure to reach out to KC from Home Quarters on YouTube, Facebook and Instagram or email us, here at: homequarterssg@gmail.com!

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!