Friday, June 05, 2009

Putting on a deposit on a house

We went to look at a new block of flats in the process of being built. Not much more than a shell, but a few of us donned helmets and went up with our current neighbour who is also a cousin and also works for the estate agents selling these properties. Just about everything below the 10th floor was already sold, and there were 17 floors. Interestingly the 3 bedroom flats with a corner view of the guang chang (town square) were bigger than the 4 bedroom ones without such a good view, however the latter did not require a deposit (normally 33%).
Back at the office I decided I'd like one, especially if we could sort out a 10 year mortgage (around 270 quid a month at current rate). Lin Hong straight-away paid the 1500 quid holding fee for us, and for another friend with us who also decided she wanted one. Tan signed some papers but there was no bank input. Apparently we have to come back tomorrow for more. And asked some financial questions that were not answered in a manner to which we are accustomed in the UK, i.e. directly. We worked out for ourselves the compound interest for the different number of years to pay back the mortgage - 10 years would be 7000 quid cheaper than 20 years, at an extra cost to us of 100 quid per month so it was an easy decision.


And on the balcony of an identical flat to the one we want to buy except that this is the 7th floor (higher floors in even less viewable state)


A view of the living room from its mini balcony. On the left is the kitchen door next to the main entrance, then the fourth bedroom/study, one of the bathrooms, and the door that leads to the other three bedrooms.


The view of the guang chang from the main bedroom balcony. Not as good as the view from the corner but probably a bit quieter.


How the block should look in December. If things go well we should have one in the middle on the 14th floor.


A friend and Tan signing some paperwork


A plan of the flat. Note the small furniture to make it look bigger than it is (actually 130m sq).

I woke up at 4.40pm after an hour's kip and it dawned on me that we needed the Internet in our house. I rang Tan, who told me the place would close at 5pm so I hurried out to the China Telecom shop and ordered one Internet. I went for the 88 kuai per month fast option (2MB). I also had to pay a 200 kuai deposit for a modem they didn't give me (but I told them I would use my own). Apparently it will take from 4-7 days. Hmmm.

PM bbq at same place - Brandy and hotel friend came

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