tydy 0 Report post Posted May 2, 2008 Need some professional advice here. Saw an article saying that COV will be falling but is that true? After failing in HDB balloting, we might have to look for resale as the next balloting is in Oct and its too long for us to wait. We are searching for flats in Bukit Batok but the COV is way too much for first timers to afford eg 50K. Just wondering if there are flats to be sold with just COV 5K or its jus our wishful thinking? If COV is only 5K, we really dont mind that the flat is in rundown condition. Cos if we add in agent commission, it will come up to about 10K if we buy resale. Share this post Link to post Share on other sites
kiira 0 Report post Posted May 2, 2008 i am searching for resale too.. 5-10k cov is not often seen but i did see some with 0cash or 5k in yes and today papers.. cov is low but the valuation is **** high.. eg cov can be 10k but valuation can be 550k.. aiyo can afford cash but how to buy 550k flat...lol Share this post Link to post Share on other sites
chronograph 0 Report post Posted May 3, 2008 When i was hunting for my EM, Bukit Batok was the area where i'm seraching about 3 months back! I was looking at 12* where on ave valuation was 450k but the cov was like 90k! We can take loan for the val part, it is the cov that's scaring away alot of buyers. At the moment, the cov part has fallen but the val part went up! Same question too, how to buy >500k val unit? I do the sum and i have to pay >2k monthly installment. Look else where if u can, Jurong west also not bad since the gov has announced development! Future value already factor in for JW HDB, my JW 5I already went up 5% on the 2nd val before the JW development news. I think it will be more now! Luckily i bought my JW EM before the news! Share this post Link to post Share on other sites
yokine9a 1 Report post Posted May 5, 2008 A flat with low COV? Yes, possible if you don't mind a unit that is low floor, even ground floor, not near to MRT and bus interchange. When I say not near, I mean it is not within walking distance unless you don't mind to walk 45 mins just to catch a bus or MRT. I read from newspapers that some units in AMK were sold for low COV. I reckon the reason is these units were far away from the MRT and AMK hub. Based on the current weak US economy, very likely that COV will drop further. If you can wait, should enter the resale market, say towards end of this year. Share this post Link to post Share on other sites
tydy 0 Report post Posted May 5, 2008 A flat with low COV? Yes, possible if you don't mind a unit that is low floor, even ground floor, not near to MRT and bus interchange. When I say not near, I mean it is not within walking distance unless you don't mind to walk 45 mins just to catch a bus or MRT. I read from newspapers that some units in AMK were sold for low COV. I reckon the reason is these units were far away from the MRT and AMK hub. Based on the current weak US economy, very likely that COV will drop further. If you can wait, should enter the resale market, say towards end of this year. Hi all, thanx for the replies. Yarlow, COV seems to apply for low floor units. There was one at Bkt Panjang selling for COV for 6K, 5rm valued at 299K(btw, its high floor). But the prob is there isnt any bus stops, far from LRT, no coffeeshops and the surrounding is very quiet. But Bukit Batok COV still seems to be on high side. We are looking for 5rms there. And Kira is right. $0 COV is for those flats which are more than half million. How to afford for first timers like us. Might as well top up a bit more to buy condo. Just to rant in forum cos house hunting is so tough. Share this post Link to post Share on other sites
kiira 0 Report post Posted May 5, 2008 (edited) considering a 5rm unit at AMK. walk ard 5mins to bus stop and 3stops to amk hub. coffeeshop and market is walking distance. its quiet and cost 420k. cov ard 23k. 136sqm. 4bedrooms and storeroom and balcony, lift landing. ns facing 12yrs old flat and they are first owner. overall condition still quite ok. just it justify the price? thanks Edited May 5, 2008 by kiira Share this post Link to post Share on other sites
tydy 0 Report post Posted May 5, 2008 considering a 5rm unit at AMK. walk ard 5mins to bus stop and 3stops to amk hub. coffeeshop and market is walking distance. its quiet and cost 420k. cov ard 23k. 136sqm. 4bedrooms and storeroom and balcony, lift landing. ns facing 12yrs old flat and they are first owner. overall condition still quite ok. just it justify the price? thanks Do you feel comfortable forking out 23K cash. Must also bear in mind of reno. If reno needs abt 10K for touch up and changing toiletries, then i think its worth buying. If you need to fork out alot of $$ for reno to hack this hack that then maybe must reconsider. just my opinion. Btw, is 420K too much for first timers to afford? Share this post Link to post Share on other sites
hapimint 0 Report post Posted May 5, 2008 Though I am not looking for any flats now but a friend of mine just bought a four room flat.... Valuation at only 265k and paid 22k cash... well, though it seems alot but it is fully renovated and she do not have to fork out any cash for renovation. Corner unit, mid floor and only less than 10 minutes walk from bukit gombak MRT...... Take more effort to search and I am sure can find de.... In fact, she just bought only on the may day holiday only leh Share this post Link to post Share on other sites
kiira 0 Report post Posted May 5, 2008 think reno also must spend ard 20-25k.. now i think i better search for other area cos 420k is quite a lot plus need to fork out ard 45k for reno and cov.. cos wife work at tpy and infant care also at tpy tats y consider amk...haiizzzzzzzzzzzz... stressed Share this post Link to post Share on other sites
yokine9a 1 Report post Posted May 6, 2008 If you are looking at TPY, can forget about places near to TPY hub. They are very expensive. Try areas like Lor 5/7/8. AMK is also a good choice if you want to be near to TPY. Some flats not near to AMK hub are not asking for high COV, you probably just need to hop onto a feeder bus. A 5-room flat is not much diff from a 4-room flat. 4-room flat should be a better start for first timer if budget is not big. Buy within your means. Share this post Link to post Share on other sites
big orange 0 Report post Posted May 6, 2008 (edited) Just to share my 1 year house hunting. It really boil down to luck - purely luck. Initally we are also thinking of getting a resale unit. However after enquiry with agent with location like SengKang & Yishun. Was shocked to find out it is even hard to find a COV 30K that is near to MRT (walkable in this sense). I guess the agent could be pretty honest. It not that we do not have the cash. But it doesnt sound right as the price of a 70year left leasing HDB be costing so much exp compare to brand new HDB. Do take note we need to filter in the agent 1% as well. We took our chance to the balloting. We are very very unlucky. We wanted the 'que' system outside HDB hub. Those which base on queing, so we could have gotten a better chance. But WTH! it change o bi-monthly balloting.. Fine.. We pay $10 every 2 month and thought as a 1st timer, we got more chances than others. The real hard facts is NONE. In between this, we pop onto this January BE which we thought it a 'special' offering from HDB. Ok.. i admited we are very nuts about HDB stuff. We ballot and thought we will got a que number by end of Jan (just like other bi-mthly). We even signed up for this balloting exercise using the 'married chid priority scheme' - MCPS. This will enable us to have 4 chances.. but the bad thing my IL will need to be struck at that location for 5 years.. On April 08, finally we got our number. I am very excited... But the bad thing happened. My IL wanna moved! so we are not able to get our unit under the MCPS. After numerous calls and my gf help.. we managed to find out that even we apply under PA (public appliant), our que number will be the same!!!! haha.. so we are lucky... Till today i still can't believe i am that lucky. Actually, the fact is... if you are young couple with no cash on hand. There is only 1 way out - buy from HDB. No need more reno like re-sale unit. There is no 2 ways ... Luck is important. Thanks. Edited May 6, 2008 by big orange Share this post Link to post Share on other sites
lovee_cdc 0 Report post Posted May 6, 2008 its also been tough for me looking for those units with low VOC ... i think i share the same faith with tydy .. waiting for oct is a bit too long .. and also not certain getting good que no ... Share this post Link to post Share on other sites
big orange 0 Report post Posted May 6, 2008 its also been tough for me looking for those units with low VOC ... i think i share the same faith with tydy .. waiting for oct is a bit too long .. and also not certain getting good que no ... True true.. but the fact is whether you need the house more or need your cash more. Share this post Link to post Share on other sites
tydy 0 Report post Posted May 6, 2008 True true.. but the fact is whether you need the house more or need your cash more. No choice lor. if HDB can only launch in Oct, then must wait till then.... Must pray harder for the Oct balloting cos the lottery only comes half a yr. Of course need cash more cos Cash is king but also need house for wedding. Haiz. Why cannot have the best of both world.... Worse still, my hubby not too keen on resale cos with low COV, hacking old tiles will make reno cost a bomb. Nicely renovated flats will demand high COVs. haiz. haiz. haiz. Share this post Link to post Share on other sites
popcorn 0 Report post Posted May 6, 2008 considering a 5rm unit at AMK. walk ard 5mins to bus stop and 3stops to amk hub. coffeeshop and market is walking distance. its quiet and cost 420k. cov ard 23k. 136sqm. 4bedrooms and storeroom and balcony, lift landing. ns facing 12yrs old flat and they are first owner. overall condition still quite ok. just it justify the price? thanks I think the price for this floor area, it's worth it. Try to negotiate for the COV. BTW, what block is that? Share this post Link to post Share on other sites
