Yesterday, you moved into a 1,000 square foot condo in Novena.
Today, you board the North-South line for your office at Raffles Place. For every minute you are on the MRT, you have saved $81,479 on the purchase of your home compared to someone who has purchased a comparable unit within a kilometer of Raffles Place.
$81,479 a minute.
For the first time in your life, you wish you had a longer commute. In your case, Novena is 11 minutes from Raffles Place. You saved a total quantum of $896,269 by living within a kilometer of Novena MRT.
$896,269. Not bad for an 11 minute commute. And, think of how productive you were in those 11 minutes. You probably read the Today paper and answered your emails.
Or, perhaps, you listened to some music while you dreamed of how you’re going to spend the $896,269. You could buy another home or put 3.7 kids through four years at Harvard or drink 746,891 cups of coffee from your favorite hawker stand.
In life we make choices. When it comes to property, location’s the primary determinant of how much we pay. In the case of the North-South line, the general rule is that the longer your commute, the more you save.
So, after a long day at the office, instead of dreading your 38 minute commute to Woodlands, plug in your earphones, sit back, and dream about how you are going to spend your $1,525,016 in savings.
This article appeared in Today newspaper as How much you 'save' on property along the North-South MRT Line, 30 May 2014.
