How to Go About Buying a New Condo at Faber Residence at Faber Walk in Clementi
Faber Residence at Faber Walk in Clementi, Singapore, is an exciting new condominium development that has captured the attention of homebuyers and investors alike. This 99-year leasehold property, developed by reputable firms GuocoLand, Hong Leong, and TID Pte Ltd, offers approximately 400 units in a strategic location. If you’re considering purchasing a new condo at Faber Residence, this step-by-step guide will walk you through the process, ensuring you’re well-prepared to secure your dream home or investment.
Step 1: Research and Understand Faber Residence
Before embarking on your buying journey, familiarize yourself with Faber Residence and its appeal. Located in Clementi, a tranquil yet well-connected residential area in Singapore’s western region, this new launch condo boasts proximity to nature via the Ulu Pandan Park Connector and convenience with Clementi MRT station and major expressways (AYE and PIE) nearby. The development is also close to top schools like Nan Hua Primary School (within 1km), making it ideal for families, and the upcoming Jurong Lake District, Singapore’s second CBD, enhancing its investment potential.
Step 2: Assess Your Eligibility and Budget
Purchasing a condo in Singapore requires meeting eligibility criteria based on your citizenship and property ownership status. Check the Singapore government’s guidelines to confirm your eligibility. Next, evaluate your budget. Faber Residence’s pricing is estimated at $2300 to $2600 per square foot per plot ratio (psf ppr), competitive for a Clementi condo. Factor in additional costs like stamp duties, legal fees, and maintenance charges. Use online mortgage calculators or consult a financial advisor to ensure affordability.
Step 3: Register for the VVIP Preview
For new launches like Faber Residence, developers often offer a VVIP preview, giving early registrants priority access to showflats and unit selection. Register through the official Faber Residence website or appointed sales agents to secure your spot. This step is crucial for choosing prime units and potentially securing better pricing. Stay updated on preview dates, typically announced weeks before the public launch.
Step 4: Visit the Showflat and Review Options
Once registered, attend the showflat viewing to explore Faber Residence’s design, finishes, and unit layouts. From compact apartments to family-sized units, there’s something for everyone. Review floor plans to find a layout that suits your needs, and inquire about facilities like the pool, gym, and landscaped areas. This hands-on experience helps you make an informed decision about your Clementi condo purchase.
Step 5: Secure Your Unit and Finalize Payment
To reserve your chosen unit, pay a booking fee (typically 5% of the purchase price) as part of the Option to Purchase (OTP) agreement. You’ll have about 8 weeks to exercise the option and complete the sale. Engage a lawyer to handle legalities during this period. Faber Residence follows a progressive payment schedule, with instalments tied to construction milestones, culminating at completion. Ensure you’re comfortable with the financial timeline.
Step 6: Monitor Progress and Prepare for Handover
After securing your unit, await construction completion, with Faber Residence’s Temporary Occupation Permit (TOP) expected around 2029. Stay informed via developer updates. As the TOP nears, prepare for handover by inspecting your unit for defects—consider hiring a professional inspector. Once complete, you can move in or plan your investment strategy.
Why Buy at Faber Residence?
Faber Residence combines serenity and connectivity, making it a standout new launch condo in Clementi. Its proximity to nature, top schools, and commercial hubs like Jurong Lake District appeals to families and investors alike. Backed by trusted developers GuocoLand, Hong Leong, and TID Pte Ltd, this development promises quality and value.