i'm like u.. i just bought a 4I for 460k..condition is moved in with only slight touch up..
mine is the point block along tiong bahru road... i didn't mind paying the price for it's location, amenities, transportation and view of the park and city view.. with no afternoon sun and it's very windy too..
in the current situation valuation would drop probably.. but with demand out stripping supply in the town area.. it's hard to see how low the valuation will drop.. and town is always a HOT spot for many..
so dun worry bout the downside in the short run.. think of the convenience u have... besides whatever CPF money u put or paid.. it's still gonna be in there.. sell only when u find it match ur buying.. otherwise dun bother comparing.. i've lived in the area for 30 years... and the price has been increasing very fast in good times.. and drops only slightly in bad times like now.. good units are hard to find in town area... i would say go for it if u have the means...