25+ Yr Old 3 Rooom For 50k Cov - Good Buy?

[Topspin 1]

Asking on behalf of a family member, she is thinking of buying a 25+ years old walk-up 3room HDB near Bt Merah for 50K COV. Very basic renovation and the renovation is more than 10 years old. Directly facing a road and can be quite noisy as well. Not yet upgraded but rumour is that there may be a lift addition, just don't know when.

Is this a good buy?

I thought 35-40K COV is about the maximum she should pay.

The average COV in 4Q '07 for Bt Merah 3 room is 27K only.

[hdbfan 0]

Asking on behalf of a family member, she is thinking of buying a 25+ years old walk-up 3room HDB near Bt Merah for 50K COV. Very basic renovation and the renovation is more than 10 years old. Directly facing a road and can be quite noisy as well. Not yet upgraded but rumour is that there may be a lift addition, just don't know when.

Is this a good buy?

I thought 35-40K COV is about the maximum she should pay.

The average COV in 4Q '07 for Bt Merah 3 room is 27K only.

Hi, in my opinion it is not worth it. I'd rather pay for a flat that is well renovated, near mrt n facilities like the one near redhill mrt station. $50k for 3 rm? no way (actually fm your post - it looks like alot of minus points) to buying the flat.

Gong xi fa cai

[knitez 0]

in my opinion, $50K COV is really way too much. i dunno how "hot" is the bt merah area, but i wld never pay that for a 3-rm flat. what's more, its 25+ yrs, basic reno, road-facing, and no lift upgrading yet done. it sounds like a rip-off. do advise your family agst it. which floor is it on? i dont reckon its near to redhill mrt?

i recently bought at COV $30K a 3-rm at yishun. 5-min walk from mrt station, top-most floor, basic reno, not road-facing, no lift upgrading. i still think $30K COV is pretty high, but i like the unit so bo bianz.

[Topspin 1]

Thanks for the comments. I felt 50K COV is too much as well. There is one good point for that unit though...it is very near to a wet market/hawker centre and about 10 minutes walk from MRT

[iceprojeckt 0]

Asking on behalf of a family member, she is thinking of buying a 25+ years old walk-up 3room HDB near Bt Merah for 50K COV. Very basic renovation and the renovation is more than 10 years old. Directly facing a road and can be quite noisy as well. Not yet upgraded but rumour is that there may be a lift addition, just don't know when.

Is this a good buy?

I thought 35-40K COV is about the maximum she should pay.

The average COV in 4Q '07 for Bt Merah 3 room is 27K only.

where is the location anyway? but 50K COV is really too expensive, somemore only basic renovation.

I also bought 3rm flat in real standard condition last november with 27K COV, 5 mins walking to commonwealth mrt, shengshiong.

If you want to renovate the hse, better find standard condition flat coz it will save time and hacking cost.

[delirious_jeff 0]

Asking on behalf of a family member, she is thinking of buying a 25+ years old walk-up 3room HDB near Bt Merah for 50K COV. Very basic renovation and the renovation is more than 10 years old. Directly facing a road and can be quite noisy as well. Not yet upgraded but rumour is that there may be a lift addition, just don't know when.

Is this a good buy?

I thought 35-40K COV is about the maximum she should pay.

The average COV in 4Q '07 for Bt Merah 3 room is 27K only.

Is there a compelling reason behind why your relative wants to buy a unit in Bukit Merah? Property prices around there are expensive. Bukit Merah is 15 mins bus ride to the city. Since the reported COV on internet are the declared amount to HDB, I think they are not accurate (I am under the impression that most of the COV are not declared/reported to HDB).

To be honest, i think this is a relatively good buy!

Nothing beats living close to the city area. If you stay further away, you need to take the 20mins ride on MRT (like sardines in a can). On top of that, you may need to again take a feeder bus or walk for another 5-10mins. Waiting time here and there...

If the unit is less than 15 yrs old, I would buy this unit at 50k COV.

Since this unit is 25yrs, I try my best to reduce the COV down to 40k-45k.

[Topspin 1]

Is there a compelling reason behind why your relative wants to buy a unit in Bukit Merah? Property prices around there are expensive.

Agree but I think it must be the fact that they have stayed there in that area previously for many years before moving elsewhere. Thanks for your view.

[jusnel 0]

Asking on behalf of a family member, she is thinking of buying a 25+ years old walk-up 3room HDB near Bt Merah for 50K COV. Very basic renovation and the renovation is more than 10 years old. Directly facing a road and can be quite noisy as well. Not yet upgraded but rumour is that there may be a lift addition, just don't know when.

Is this a good buy?

I thought 35-40K COV is about the maximum she should pay.

The average COV in 4Q '07 for Bt Merah 3 room is 27K only.

i bought 5 room at Toa Payoh 6/7 yrs old, directly above MRT (not even 5 mins walk. not even need to walk actually), high floor with nice reno. COV 25k.

so whether that Bt Merak flat expensive or not, u say leh?

[tatlee 0]

i bought 5 room at Toa Payoh 6/7 yrs old, directly above MRT (not even 5 mins walk. not even need to walk actually), high floor with nice reno. COV 25k.

so whether that Bt Merak flat expensive or not, u say leh?

when you buy? recently???

[yokine9a 1]

Asking on behalf of a family member, she is thinking of buying a 25+ years old walk-up 3room HDB near Bt Merah for 50K COV. Very basic renovation and the renovation is more than 10 years old. Directly facing a road and can be quite noisy as well. Not yet upgraded but rumour is that there may be a lift addition, just don't know when.

Is this a good buy?

I thought 35-40K COV is about the maximum she should pay.

The average COV in 4Q '07 for Bt Merah 3 room is 27K only.

I bought a 3-room corner high floor unit in Toa Payoh recently. First appt in end Jan and will be collecting the keys mid of Mar. COV is 20K with original condition. One thing I like about it is the unit is located in a quiet street yet 10 mins walk to MRT. The owner was initially asking for 50K but willing to sell at 40K. I managed to reduce it to 20K after I saw another corner unit on the same block with full renovation but asking for 30K COV. I did not want to take that unit because of top floor (my hubby dislikes it) and afternoon sun. You should try to bargain further, but first thing is, look around on other nearby units to see their asking price. Good luck

[babytan 0]

also just brought a 3 room flat around jurong east central

paid 26K COV, quite old flat, minimal renovations, on lift level..

felt is quite a good buy already as been to so many flats, and they are asking for at least 30K and above..

lion open mouth leh..

[tatlee 0]

got a qn for those bot 3rm flat recently.

why choose 3rm flat and not bigger? Why resale and not ballot/DBSS?

thanks.

Edited February 19, 2008 by tatlee

[slejes 0]

got a qn for those bot 3rm flat recently.

why choose 3rm flat and not bigger? Why resale and not ballot/DBSS?

thanks.

3 room flat cost about $80 to $100k less then 4 room for one room less.... 3 room more worth the price unless you need extra bedroom.

Resale units are usually at mature estate, nearer to town, MRT, etc. Also more choices in terms of location.

New units limited to usually the outskirt, lack shops and facilities, etc...

Also old units are much bigger then new units. eg. old 5 room flat is ~125 msq while new 5 room flat is 109 msq. Price wise not much diff looking at the floor area size.

Cheers.

Edited February 19, 2008 by slejes

[tatlee 0]

3 room flat cost about $80 to $100k less then 4 room for one room less.... 3 room more worth the price unless you need extra bedroom.

Resale units are usually at mature estate, nearer to town, MRT, etc. Also more choices in terms of location.

New units limited to usually the outskirt, lack shops and facilities, etc...

Also old units are much bigger then new units. eg. old 5 room flat is ~125 msq while new 5 room flat is 109 msq. Price wise not much diff looking at the floor area size.

Cheers.

Ya. Know the pros and cons of 3rm 4rm. Just curious why people looking to buy 3rm or 4rm recently.

Is it a mkt situation or personal preference?

thanks.

[yokine9a 1]

Ya. Know the pros and cons of 3rm 4rm. Just curious why people looking to buy 3rm or 4rm recently.

Is it a mkt situation or personal preference?

thanks.

Don't know leh, but by looking at the brochure I received in my letterbox in Toa Payoh, 3-room and 4-room seem to have higher demand with more buyers asking for them

I bought a 3-room flat for myself to stay, so no point to get a bigger unit. Because property is so expensive now agent said many people who are cash-rich rather buy smaller unit, wait for the property market boom to cool down, then upgrade to a bigger unit, so that they loses are limited