Help! Worth Buying This Flat? 5room Sengkang Near Mall

[bepgof 20]

Increase land releases - haha govt wants to stop the aggressive biddings by developers and stablise/push down the prices of property?

The house and office supply in the next few years look scary. Dunno if it'll lead to property market crash?

US's debt lagi needs more concern, whole population estimated need to work 10 year free of charge then can clear present's debt !

Edited June 4, 2010 by bepgof

[wolflet 1]

Increase land releases - haha govt wants to stop the aggressive biddings by developers and stablise/push down the prices of property?

The house and office supply in the next few years look scary. Dunno if it'll lead to property market crash?

I have a feeling the property market will become saturated soon due to overbuilding. with the projects that are pumped out in 2007 TOPing this year, there will be a sudden increase in available property. and with the new land releases and sudden surge of BTOs from HDB. most prob the supply will exceed demand.

And i read somewhere that singapore will be closing the gates to foreigners once population hits 6 million. which is quite soon.

To TS.

I paid 39k COV for a top floor corner 5rm unit near boon lay MRT and now is doing a full overhaul coz the 10 year old flat condition also quite lok kok. maybe that will make u feel better.

[gotcha 0]

Yup, very much agree with your point. Likely there will be an oversupply probably 4-5yrs in the future. This does not bode well for those who buy now and want to sell at the end of MOP (5yrs). This would likely mean that resale prices might be on the low side implying that there will be a loss in capital. This is definitely compounded by the fact that the current spate of new releases reach MOP in probably 2017-2019. Property markets going to explode with too much resale units.

[macadamia3050 0]

hi all thx for your replies!

blueocean: u r qte right abt your theory, it was a v quick decision on our part n we r now thinking if we had made e right decision..

eiffel76: nope, our flat is the blk 190+ series.. doesnt face TPE although all rooms face the road (i think).. living room faces multistorey carpark (erm we c it below us though) n another unit (relatively far away fr us).

merydith: well it was the location (both level & amenities) that we like v much.. unit is qte regular shaped (no odd-shaped kitchen etc).. at first tot there would b resale value if in the future we were to sell it.. but looking at the future supply of flats, we r thinking if we shud wait out slightly longer n hope tt at least cov prices will drop...

forgotten: hehe yep we were v attracted by the amenities around it n it was a major pull factor to us deciding to pay e $1K... n i wish i noe how e resale prices would b like for e nx half year!!

gotcha: i'm hoping tts e case, so tt we can get a flat at lower prices & not kill ourselves w loan..!

bepgof: hmm do ur tables mean tt property prices bubble will soon burst..?

wolflet: tt's wat we r worried abt too... tt we r now buying at the peak only to find tt mayb half yr down the rd prices will drop in anticipation of the flat supply outburst..

we r going to have a another closer look at the unit this sat before we decide whether to exercise the otp (haf another week to ponder abt it).. wish us luck!

[blueocean 0]

I hope you have been using the 2 weeks option period to get the loan offer letter from the bank and checking that the HDB sellers are not bankrupt and also to confirm the eligibility of the sellers to sell, and confirm that they are "real" owners of the flat. 2 weeks will pass by very quickly ....

we r going to have a another closer look at the unit this sat before we decide whether to exercise the otp (haf another week to ponder abt it).. wish us luck!

[forgotten 1]

US's debt lagi needs more concern, whole population estimated need to work 10 year free of charge then can clear present's debt !

Yap, US Deficit has hit 90% of her GDP. Hope there won't be a double dip recession and everyone gets to keep our jobs. Otherwise, we'll hear of more people jumping down mrt tracks, IR etc.

Edited June 4, 2010 by forgotten

[bepgof 20]

bepgof: hmm do ur tables mean tt property prices bubble will soon burst..?

Different simulated models have been processed & studied, insider info from TMH reveals a price crash in Dec ~Jan 2011.

- Quickly sell present & rent a place to stay, hold till early next yr & buy.

- Or, hold yr cash till coming Jan and invest in those new launches.....

Edited June 5, 2010 by bepgof

[macadamia3050 0]

blueocean: hmm we've gotten HLE letter.. wah we didnt check up on the HDB seller part though - is it supposed to be done by the seller's agent n conveyed to our agent..?

bepgof: we dun haf a flat on our own yet.. tot of renting until flat prices come down, but renting oso qte chor.. at the most we'll either postpone wedding or stay w in-laws first..

[salavanun 0]

is better to check coz our money concerned. my bro trusted the agent saying seller have paid upgrading fee of lift. 1st appt hdb said NOT paid. 2k . agent said seller overlooked. now still no clues who goin to bear the cost . on paper is buyer. still awaiting how the trusted agent goin to settle this. even is small money but we want the agent to work hard for the comm and realise his mistake for not checking and misleading

[macadamia3050 0]

hi folks, thanks for all your advice. we've finally decided to buy the flat.. officially 'bankrupt' now, but now we have a plc of our own

[ernieliew75 2]

Just my view:

I am currently staying near MRT at Bukit Batok. If near to the station, its convenient, but then you have to get prepared for the noise. As for top floor, old HDB will be extremely hot, like the one my parents stayed (luckily sold), but for 10yr old flat, should be ok ba. For COV, if its high and need less reno, its fine. But if the entire house needs overhaul and still need to pay COV more than 40k, then think twice. If u like the place and location, and think its worth, then go for it. Congrads for your new nest. Cheers.

Anyway, take note of bank loan, some bank gives fixed 1.99% for 1st 3 yrs, lower than HDB. But I got a few friends selling their HDB (bank loan) after 4 yr cos the interest goes as high as 6% p.a. They can't cope.

Edited June 10, 2010 by ernieliew75

[Plastic3 0]

hi folks, thanks for all your advice. we've finally decided to buy the flat.. officially 'bankrupt' now, but now we have a plc of our own

Congrats!

[bepgof 20]

hi folks, thanks for all your advice. we've finally decided to buy the flat.. officially 'bankrupt' now, but now we have a plc of our own

Welcome you onboard HDB, congrat! Always have to make that "1st step", follow by "tighten the belt" & "bite the bullet", then 2nd step.....

Edited June 11, 2010 by bepgof

[macadamia3050 0]

Welcome you onboard HDB, congrat! Always have to make that "1st step", follow by "tighten the belt" & "bite the bullet", then 2nd step.....

that's exactly our feelings! just chiong n do wat we haf to do! think too much hair v white liao.. i guess everybody (almost) goes thru more or less the same stuff

[macadamia3050 0]

thx plastic3~