Exman

Some news on how HDB unit being valued Foo Jie Ying The New Paper Friday, Oct 19, 2012 PERSONAL insults are common in his line of work. "When we send a fresh graduate, they (the home owners) say that she is young, 'blur' and inexperienced. "But when we send an experienced lady, they ask us why we are sending an 'aunty'," said Mr Eric Tan, chief executive officer of real estate appraisal company GSK Global. The company offers valuation services for HDB flats as well as other aspects of real estate consultation. The 44-year-old said it is common for home owners to resort to insults and threats to raise the value of their flats. "Once, there was a home owner who called 10 times in a day to ask to increase the value of his flat," Mr Tan revealed. For HDB flats, valuers derive a value by comparing the previous transactions that have occurred in the area. A valuer is assigned at random to assess the flat's value after receiving a completed request form with payment from the flat owner. Other factors then come into play: the renovation the flat has undergone, the view, the storey the flat is located on, and how many units there are on the same level. Going through the checklist of these different factors, the valuer then makes adjustments to determine the flat's value. The valuation report is usually ready within two weeks of the valuer's visit. If the flat owner is not satisfied with the valuer's quote, he or she can appeal against the valuation report.

Hi AxelC Though I did not done the glass panel railing and to feedback my views on your query that my opinion would be clear silicon should be better. As the glass is also clear in your case that clear silicon shall compliment the end result if use to fill the gap. Should a white color type is use to fill the gap which shall look very obvious against the clear glass.

The 243 sqm EM are the ones especially in Bishan and Pasar Ris point blocks where the top most floor units has has double story and has very large balcony or usually called the open terrance....

Hi ctan Nice to know you that you select HG and welcome. With reference on your 26 years old EM that now you are the new owner which I think most probably you are my opposite block neighbour. Correct me if I'm wrong that the EA/EM units has the almost full circular and semi circular balcony respectively. With your relevant industry background and contacts which I believe 40K to Reno could be suffice and probably cover the essential items. Norm market practise that an ID usually mark up about 30 - 40% on top to the contractor pricing. My recent Reno experience that hacking, wet works, staircase and carpentry works are the big ticket items. Btw how was the valuaion and COV?

Hi Mymoonlighting How about the Professional Engineer's fees for endorsement the structural hacking and construct? Is it includes in the 5k.

Hi Mymoonlighting Just curious to probe further as to ask if the 5K charges only for shifting the complete or half staircase and if includes the complete wooden steps with hand rails with glass/wood/stainless steel?

Just to share my hunting experience. I seen 30 EMs and 10 EAs in about 4 weeks period. The total 40 units is spread over Hougang, Lorong Ah Soo and Serangoon North areas With that am enable to gauge against all the reasoning eg COVs, location if is near MRT, unit facing west sun or not, degree of interior condition and to my expected extend on renovations required.....etc etc.... Then roughly you know if the unit that you have decided to buy is good buy or not..... Sometimes you seen the 1st unit has an ok COV and might the latter unit is or least expect in the asking higher COV.... Looking at the news report we knew that the re-sale prices isn't coming down this soon...

Hi Cleong Some thing to add on seepages. If is the roof leaking (which is the top floor if the block) and wall seepage that the town council is obligated and responsible to repair and made good for the owners. In the case of EM that if the seepage is in your kitchen that means the upper level toilets is leaking that is the owner has to repair by themselves. For the case of the EM units upper level seepage (bedroom floor) shall be a 50/50 repair cost split between the 2 EM owners...

Hi spike doll Lower floors are more expose to noise and sound especially if is near the drive way, or people walking or talking or kids playing on the void deck areas. Probably insects or pest could be another concern.... Ground unit could use the plot of soil turf to become your private garden if you are the type whom likes gardening. During my sourcing for EM units in Hougang, especially those 4 story high block usually don't have the lifts. Some have lifts are from the upgrading process....

Hi Potatoes Could you share how much is HDB direct selling price taking note that there is no COV involved? Is there any levy if the buyer has already own the first HDB property?

Also you be surprise that you may get different valuation figures from another valuator...

Hi adidaem From the sources of my property agent that whom sold my previous HDB unit has mentioned certain conditions to note before the valuation take place. Partial factor of the valuation is based on the last 3 months on the average selling price for the same area. Next factor is the location eg close proximity to MRT, shopping malls, schools..... Also the interior of the unit condition is one of the factoring conditions.... You may score higher valuation if the unit has fully renovated versus non... The COV kick in is because of more buyers.... Demand exceeding supply.... There are units sold below or at valuation. No COV as there are propably one and only buyer.... During my recent purchased EM unit that the seller concluded the sale to me on the 2nd day is that the front 2 potential buyers last minute back away.....from his asking COV of 60K.... 2 things can happen if I also walk away that the COV may fall if the seller is a serious and genuine or.... The seller may remarket his unit again or wait till there is a taker....

Hi spikedoll I think the latest publicity on the 920k Tampines and 1 million Queenstown EM property news that somehow has generated higher expectations in the resale market. I have checked with sales person that the valuation of the described EA/EM units are based on the latest 3 months sale price in the same area..... Fuel by the property agent promising selling sales figures.....sacred availabity and limited supply of EM in the resale market has somehow raised asking COV.... Just heard in the news that our PM mentioned that SG can accommodate 6 million people.... in terms of economics, demand exceed supply might push up the prices further.....

There many Pte property owners, sold off their units and are cash rich into preparation to pay high COV premiums for EA and EM which are the biggest in floor areas. For 600k to 700k previously and now 800k to 900k to 1 million, one can have a 1500 to 1600 sq ft HDB unit as compare to 500 to 600 sq ft Pte apartments... Which is about $1200 to $1400 per sq ft. This all depends on the location and especially MRT is the selling point. Now with many MRT station along the circle line in construction that most units are close promixty and shall commands high valuation and COV. Any way just to share that last October 2011, secured a EM gen2 unit about 5 to 7 mins walk to the Hougang MRT and Mall. The valuation was 570k which I paid with addition a COV of 60K.

There many Pte property owners, sold off their units and are cash rich into preparation to pay high COV premiums for EA and EM which are the biggest in floor areas. For 600k to 700k previously and now 800k to 900k to 1 million, one can have a 1500 to 1600 sq ft HDB unit as compare to 500 to 600 sq ft Pte apartments... Which is about $1200 to $1400 per sq ft. This all depends on the location and especially MRT is the selling point. Now with many MRT station along the circle line in construction that most units are close promixty and shall commands high valuation and COV. Any way just to share that last October 2011, secured a EM gen2 unit about 5 to 7 mins walk to the Hougang MRT and Mall. The valuation was 570k which I paid with addition a COV of 60K.

Do agreed that hacking down to bring minimium walls do give the visual look of a large space but think a professional photography effect was carried out after renovations by the ID firm as to entice the luxury of the EM unit in their catalogues or reference mazagines.... Every photo if we noticed have the effect of looking longish rectangular in depth which normally in EM, the rooms are squarish..... They are also projected a very high ceiling effect....

Should the owner, owning rent to HDB that he could have easily market and fetch a tidy sum of monies to pay off to HDB but rather believe there is some illegality done that the reprocess to the EM was unavoidable...

Hi This gap is caused by the laminates backing which is normally in black color. The front of the laminates shown is the wooden brown grains textures. When 2 labminates are joint at an angle which we can see the blacken lines which at times is not good to esthetics view and is quite ugly. This can be ugly gap could be corrected or minimised by the carpentry workmen by applying art and craft hand work using brush to paint over the black line. In your case which is the brown laminates, which be likely using the brown color paint to coat over the black lines.

Mine is the gen 1 EM which the balcony is link to the living room area and the main entrance is somehow sandwiched between the utitly room and the dining area. Correct me if I'm wrong that to note potatoes's EM, which he has re-designed the kitchen area to erect a wall to create the service balcony area, craved out from the existing kitchen floor area. After doing the said modification which is quite similar to cholelong's EM original layout. As for cholelong's EM almost every sq ft is of optimium design and the rooms are of decent sq ft which are of sensible design probably after the HDB EM designer has reviewed his or her gen 1 and 2 floor plans. Basically over rall EM renovation cost is pretty similar to EA. Reno cost going up more are due to the stairway and the double height balcony.......... On the contrary however EM occupants shall enjoy the landed feel and privacy as the bedrooms are on the 2nd level....plus climbing the stairs as a form of must have physical exercise everyday.......😰🏠🎢👍

Hi Soichiro Would you be able to share the 2 wireless routers system. Mine even on install the router modem on the mid stairways still have signal loss. The living room signal drops from 5 to 3. Worse still in one of the bedroom can't recieved any signal......

Hi choleong certainly yours one of the best EM lay out in terms of space configuration and area. All the necessary areas have the essential floor area enough and not too small to be fully optimized. Unless your are for retro concept which the pre-war design "chinatown" seems too add some decor vibrant and shall be a waste to change completely.......to a modern concept. Probably "old" mixed with "modern" design might work out for the best of 2 eras...

Adding to the material cost and labor cost today as compared to year does seem to have gone up. On contrary there are more ID companies today and the service providers seem to have certain competitive edge and trying hard to gain consumers..... Pricing and service level does seem different as compared to last time..... When my parents did their home renovations, the contractors and now when I engaged the IDs does have difference in atititute and service level..... Added these days where IT or multi media is one of the most powerful tool like renotalk shall urge all these ID to think trice for any lousy ill service rendered.....

Hi Mymoonlighting As you might not be aware the EM the big ticket items are 1. Full hacking and floor tiles change 2. Full hacking and complete tiles replacement to the floor and wall. 3. The staircase railing and steps replacement. 4. Kitchen cabinetry and applicances. You may visit the home and decor website to mention a EM gen 2 done up by the owner's friend whom was ID to cost only 70k....... Very nicely done up..... The gen 2 balcony has the builded a ceiling to house a bedroom created for his mother.... for the elderly folk whom is stationed downstairs and where else the 2nd level has the bedrooms knock down and done up to create the MBR and study......

Major Reno works on the 1st level. Complete flooring change to 1.2 x 0.6 m homo tiles to the living, dining, kitchen. Reinstate back the balcony and utitly room. Full carpentry to the kitchen cabinetry and shoe cabinet in the foyer. Wall tiled to the kitchen walls. Balcony installed the frameless glass sliding doors. Window change to the kitchen and toilets. False ceiling with cove lightings to the 3 bedrooms, common toilet, the living and dining area. Complete wall and floor tiles change to the common toilet where only floor tiles overlay to the MR toilet. 3 bedrooms have the parquet flooring regrind and varnish. Retain the staircase as is already fitted with the stainless railing and black homogenous tiles. Kitchen cabinetry installed with Blum system supported with Borsch job and hood and oven. The 2 toilets are equipped with Gorhe fixtures. Full sanitary to the WC and basin replacement...... Only DIY the wiring, lighting and painting works.........

I think I saw the Bedok reservoir EM is at block 715 which unblock and just across the road with full reservoir view. Went there actually to view the decor undergoing renovation by an ID company. The owner mentioned that they paid 700k in October 2011 I brought a EM this year January 12. This EM is about 7 minutes to Hougang MRt and Hougang Mall. Paid COV 60k and valuation was 570k. Just renovated about 60k without furniture......