Cov Reasonable Or Not?

[Deodar 1]

Hi,

Saw a 3-room flat at Serangoon Central.Simple move-in condition.Near MRT,amenities.mid-floor.

We liked the unit because of location.Owner insisting 15K.Is it reasonable at the present scenario?

Please advise

Thanks

Edited December 22, 2008 by Deodar

[chronograph 0]

Hi,

Saw a 3-room flat at Serangoon Central.Simple move-in condition.Near MRT,amenities.mid-floor.

We liked the unit because of location.Owner insisting 15K.Is it reasonable at the present scenario?

Please advise

Thanks

Since you like it and it is located at Serangoon Central, 15k is justifiable. What's the Val?

[papbestdad 0]

Hi,

Saw a 3-room flat at Serangoon Central.Simple move-in condition.Near MRT,amenities.mid-floor.

We liked the unit because of location.Owner insisting 15K.Is it reasonable at the present scenario?

Please advise

Thanks

The location must be good (at the very least in your eyes), and if you love it then just go ahead with it.

15k for Central, even in very bad times it will still fetch at least 5k - 15k COV.

GRAB IT.

[Diavonex 0]

COV for 3rd quarter for Serangoon 3-Room is $21,500.

Edited December 22, 2008 by Diavonex

[Deodar 1]

Thanks everybody for your feedback.Closed the deal

[zirhk3355 1]

Food for thoughts - always remember this:

Valuation = valued by your head, ie logical. This is honoured by HDB, banks, CPF, etc because they based their loans on it.

COV = valued by your heart, ie emotions. This is only honoured by yourself and the seller/buyer. Nobody else cares.

Wait, before you jump at me, I am not saying to go by emotions is bad. Sometimes if you really love something, nobody can tell you if its worth it or not. Only your heart can tell. If everything is logical, then this world will be a very boring place.

[Durian pudding 0]

With current situation, buyer got a bigger say...you should ask to get it at val or maybe below val....

15K is still a lot...can get a better unit even at amk or tpy nowadays....

With current situation, buyer got a bigger say...you should ask to get it at val or maybe below val....

15K is still a lot...can get a better unit even at amk or tpy nowadays....

[yokine9a 1]

Since you have already closed the deal, any comment is too late now

I also paid 15K COV for my 3-room flat in TPY in Jan 08... Corner n high floor... 10mins walk to TPY Central.

That was before the financial crisis... I feel that one should be able to bargain & buy lower now.

Anyway, hope you like your resale flat & enjoy staying there

Bro zirhk3355, like your comments

[Diavonex 0]

As long as Deodar is happy with his 3-room at Serangoon Central, even 20K over valuation is okay.

[zirhk3355 1]

As long as Deodar is happy with his 3-room at Serangoon Central, even 20K over valuation is okay.

Haha, this is the gist of the matter...

[Diavonex 0]

You can easily loose the apartment you like to someone else if you hesitate over $5k to $10k.

Don't forget you are not the only one looking for a house in a good location.

[shearerkk 0]

You can easily loose the apartment you like to someone else if you hesitate over $5k to $10k.

Don't forget you are not the only one looking for a house in a good location.

Diavonex.... anyway U closed the deal... so dont worry abt your choice.. jus sit back...relax... and enjoy the next step... that is yr reno. Do post more on it.

Jus a quick sharing on 'not the only one looking'.... it is like buying stuff at computer fair, etc... everyone watching... and everyone's eyeing....... does not mean ppl who buy on first day will catch the best deal... and does not mean ppl who buy aft the fair will not get better deal too....

Thus... it also depend on how despite the buyer is.... if not in hurry..... there will always be better deal that may come along the way.... but if buy got the cash & like it very much.... buying at first opportunity may also be the best choice.