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Old 21-06-2011, 10:40 PM   #21
Heuer
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To TS, sorry for being direct and frank here. If you find it already very stretch to fork out $50k cash, I don't think committing $800k is a wise decision. As AMK is a very old estate, you need to budget a fair bit for Reno.

Just my $0.02
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Old 22-06-2011, 12:51 AM   #22
coyote66
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what make u pay for so much?
what is the market value of such flat nearby?
40k cov? is already high
120k can get u 10 years of baby sitter for ur kids considering if u pay 1k per month

Last edited by coyote66; 22-06-2011 at 12:52 AM.
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Old 22-06-2011, 02:42 PM   #23
HeiYuEr

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Quote:
Originally Posted by Lobsterman View Post
Hey guys,

What do you think of a $140k COV for a jumbo flat in AMK? Valuation at $660K, selling at $800k...

Seems like COV are very high still...

Regards,

Steven

$140k COV

bro....u buy liao??....u ok bo?
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Old 23-06-2011, 10:09 AM   #24
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Today I will go 4-horse-road ask... Lol... I am still thinking about it.

Some reasons why I am still considering -

1) I do not have a car. I have to look for a nearby flat because my in-laws are staying in the same block. It's super convenient because my two kids' childcare is very near.

2) I am not cash rich for sure, but because I have an exisiting 3 room in the same block, I am able to buy, after selling my current flat. But still short of 50k cash.

3) The flat is huge (to me) at over 1800sqft. I intend to stay till I die lah, coz I very lazy one... When the kids grow up and leave, I hope to rent the remaining 6 rooms out and collect rental income. The block just upgraded a few years back.

4) If suay suay kenna SERS, will I will compensated for 2 units? Just wondering.

Having said all the above, I still would like to hear views... Reno-wise, I definitely have to take loan if I want to reno... but monthly HDB loan-wise, we should be able to cover fully with our CPF portion.

Sigh... I quite sianz lah...
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Old 23-06-2011, 10:33 AM   #25
lohsinlong
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Quote:
Originally Posted by Lobsterman View Post
Today I will go 4-horse-road ask... Lol... I am still thinking about it.

Some reasons why I am still considering -

1) I do not have a car. I have to look for a nearby flat because my in-laws are staying in the same block. It's super convenient because my two kids' childcare is very near.


2) I am not cash rich for sure, but because I have an exisiting 3 room in the same block, I am able to buy, after selling my current flat. But still short of 50k cash.

3) The flat is huge (to me) at over 1800sqft. I intend to stay till I die lah, coz I very lazy one... When the kids grow up and leave, I hope to rent the remaining 6 rooms out and collect rental income. The block just upgraded a few years back.

4) If suay suay kenna SERS, will I will compensated for 2 units? Just wondering.

Having said all the above, I still would like to hear views... Reno-wise, I definitely have to take loan if I want to reno... but monthly HDB loan-wise, we should be able to cover fully with our CPF portion.

Sigh... I quite sianz lah...
So after taking in the 50K for ur COV, u might still need another 30K for ur reno from the bank...so in total u will be taking 80K from e bank....
So have u calculated how much is ur monthly installment to the bank?? I advise u to do ur sum properly before committing such a big amount.
But IMHO, 140K is too much liao....but if u really really wan to buy, c if u can get the COV to be lower.
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Old 23-06-2011, 10:37 AM   #26
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Not to worry, my friend.

I've got other friends who want to buy jumbo flat as well.

Maybe i ask them to compete with you so that when other people buys, you no chance to buy and won't have headache so much.

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Old 23-06-2011, 10:42 AM   #27
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Quote:
Originally Posted by lohsinlong View Post
So after taking in the 50K for ur COV, u might still need another 30K for ur reno from the bank...so in total u will be taking 80K from e bank....
So have u calculated how much is ur monthly installment to the bank?? I advise u to do ur sum properly before committing such a big amount.
But IMHO, 140K is too much liao....but if u really really wan to buy, c if u can get the COV to be lower.

I doubt the reno will be 30K...most time touch here touch there...toilet, electrical, some minor carpentry, kitchen. will easily hit 50K...

I think COV 140K is really high...considering its two unit...the mkt COV is about 30-40K each unit...it will be fair to offer about 70K and nego upwards from there. Somemore u will have to determine the condition of its current condition...is the kitchen n toilet in need of reno? etc etc.
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Old 23-06-2011, 10:45 AM   #28
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Seems like the purpose of buying this Jumbo flat is to let your in-laws to stay in so they can take care of your kids. So after 6 years of primary sch, your kids can take of themselves? If yes, then how.

The other problem is can your in-law really want to take care of your kids throughout? Now RC a lot of programs for active elderly, already many dun want to care for their grandchild now so they can enjoy themselves.

Sometimes when sudden change of course, your in-laws can't take care of your kids and end up you have to take care of them since they are in your house. Will your plan still work then?

Renting out the room may have problems too. Wonder now still can spilt it back to 2 different units, you may check with the agent. Frankly why burden yourself with the loan all over again since it's your second purchase already. Think twice.
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Old 23-06-2011, 11:04 AM   #29
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I like the discussion here.

Some more info -

1) In-laws are staying in a 4rm flat in the same block. We are neighbours.

2) I actually wanna buy a 4rm flat only but cannot find any selling. The last 4rm I saw was in the next block that was sold for 50k COV 2mths back. And that needs major RENOVATIONS. That's why never buy.

3) I always thought market value is $30-$40k COV, but it was never this case. It just keep getting higher. Damn sad.

Bro Kalimantan, will your friend grab the flat at this price?
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Old 23-06-2011, 11:12 AM   #30
HeiYuEr

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but why jumbo flats....u gonna have many kids ar

or u wanna keep those spare rooms as fish room
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