Saturday 28 September 2013

Private Lift Lobby - Do you need it?

Been wanting to write on private lift lobby for some time but it slipped my mind till this particular Executive Condominium (EC), Waterwoods boasted of the feature as a first in an EC development.

Well, the developer is not wrong. It is the first in an EC development.

But am I excited about it? Hardly. Why?

First, the buyer is going to pay for it. Nothing new. If you don't mind, well go ahead. The developer says it will be an extra 2 sq m or 21.5 sq ft. If the average price is around $830 psf, it will cost you an extra $17,845. Extra means more downpayment, more loan, more interest to be paid, more stamp duty etc etc.

We know that developers will want to sell every bit of space in the development to maximise his profits. That is why it is usually a short distance from the lift to each unit. But now by providing a private lift lobby, it means that this corridor space becomes part of the saleable area of the unit. It will most likely or 100% become an addition to the balcony in the unit. The second picture below gives you an idea of the private lift lobby opening into a balcony.

So you are going to pay for that "fenced up" corridor space called a private lift lobby, something that is hardly necessary.

Secondly is it really private? For those who have visited condominiums with private lift lobbies will know that it is not. It is not possible to have one lift to serve one unit. Hence this lift will be equipped with card access system and two doors. To gain access to your unit, you have to scan your card. If you have nosy neighbours, they will look at your unit (assuming your private lift lobby does not come with a door to your unit) when the lift door opens. It will really be private if you live on the top floor.

What will it cost the developer? Not a lot, just an extra lift door on every level. That lift door will definitely be cheaper than the amount you are going to pay for that "private lift lobby".

Lastly are you going to get a door to your unit? Not every private lift lobby has a door for enhanced security. See below for two examples.

Private Lift Lobby with Door

Private Lift Lobby with no Door


Will Singaporeans bite? Of course, nowadays people just want something different from the rest.



For those interested to read about private lift lobbies in Waterwoods, you can click on the link below.
http://www.channelnewsasia.com/news/business/singapore/upcoming-waterwoods-ec-to/819438.html

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