Major and minor renovations

[myfs_92560]

Hi Mr Lee,
I am confuse as how much renovation done is consider major renovation and minor renovation ? Please advise.
BR

[Cecil Lee]

Dear Anon,
1. In the past, when there were few (if any) high rise buildings; it is much easier to relate it to a landed property; than say an apartment.
2. One best way to look at a `major' renovation is of the following:-
3. Case Study 1
================
3.1 Someone has sold their home. For example, this house was purchased by a couple who married in the 1970's, stayed there. And when their children grew up; the children moved away.
3.2 Often, the `old couple' who have already retired decided to sell this house.
3.3 Most of the time, the house could require renovations to modernise the home.
3.4 For example, you came along and purchase this house. ANd decide to do a renovation this year.
3.5 Usually, this action, could result in a change of Period to the current e.g. Period 7 i.e. 1984 to 2003 house.
4. Frankly, there are no hard and fast rule to say for sure whether what constitutes a major or minor renovations:
IT DEPENDS!
5. But from the clue above, we have to look at it from many angles.
6. Often, it should be a situation where, we may have to move out e.g. because of hacking the entire floor, replastering, removing doors or demolising walls.
7. Another way we can look at it is perhaps the amount spent on the renovations. For example, if you are in Singapore; for example an average Housing Board apartment i.e. 5 room type, if brand new may perhaps require at least S$15,000 to make it liveable i.e. doing the floor tiles and kitchen cabinet etc... (It can be more!)
8. We can base on such a quantitative assessement; if our renovations equal to (for example) this amount or more, then, we may perhaps, (roughly) say that we have done renovations.
9. The other situation is that; because of the nature of the renovation, e.g. hacking floor etc.. and making it difficult for us to live-in until the renovations has been completed -- in such a situation, we may have to move out temporarily.
10. By moving out (e.g. stay at relative or in a hotel); this act could be symbolic of `taking' over a new home, once the renovations had been completed.
Warmest Regards,
Cecil

Quote

On 5/29/2003 9:36:20 AM, Anonymous wrote:
Hi Mr Lee,
I am confuse as how much
renovation done is consider
major renovation and minor
renovation ? Please advise.
BR

[Cecil Lee]

Dear Anon,
1. In the past, when there were few (if any) high rise buildings; it is much easier to relate it to a landed property; than say an apartment.
2. One best way to look at a `major' renovation is of the following:-
3. Case Study 1
================
3.1 Someone has sold their home. For example, this house was purchased by a couple who married in the 1970's, stayed there. And when their children grew up; the children moved away.
3.2 Often, the `old couple' who have already retired decided to sell this house.
3.3 Most of the time, the house could require renovations to modernise the home.
3.4 For example, you came along and purchase this house. ANd decide to do a renovation this year.
3.5 Usually, this action, could result in a change of Period to the current e.g. Period 7 i.e. 1984 to 2003 house.
4. Frankly, there are no hard and fast rule to say for sure whether what constitutes a major or minor renovations:
IT DEPENDS!
5. But from the clue above, we have to look at it from many angles.
6. Often, it should be a situation where, we may have to move out e.g. because of hacking the entire floor, replastering, removing doors or demolising walls.
7. Another way we can look at it is perhaps the amount spent on the renovations. For example, if you are in Singapore; for example an average Housing Board apartment i.e. 5 room type, if brand new may perhaps require at least S$15,000 to make it liveable i.e. doing the floor tiles and kitchen cabinet etc... (It can be more!)
8. We can base on such a quantitative assessement; if our renovations equal to (for example) this amount or more, then, we may perhaps, (roughly) say that we have done renovations.
9. The other situation is that; because of the nature of the renovation, e.g. hacking floor etc.. and making it difficult for us to live-in until the renovations has been completed -- in such a situation, we may have to move out temporarily.
10. By moving out (e.g. stay at relative or in a hotel); this act could be symbolic of `taking' over a new home, once the renovations had been completed.
Warmest Regards,
Cecil

Quote

On 5/29/2003 9:36:20 AM, Anonymous wrote:
Hi Mr Lee,
I am confuse as how much
renovation done is consider
major renovation and minor
renovation ? Please advise.
BR