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

[pixiepixel 0]

Hi folks,

Me n my hubby recently forked out $1K to purchase the option for following flat:

Where: Seng Kang, 3min walk from rivervale mall & abt 15min walk from Seng Kang MRT station

Type: 5I (110sqm)

Valuation: $400K

COV: $36K

Floor: Top floor corner

For a <10yr old flat, this unit is rather lok kok (ill-maintained).. need to really renovate the kitchen n 2 bathrooms.. not much major built-in carpentry except for the kitchen cabinets & a wardrobe in MBR.. we like the location & high floor, but is $36K too much to pay for a lok lok flat when other Seng Kang flats seem so new..? n cos of the high cov, we've got not much left for reno (definitely need a loan fr bank)

Appreciate all your advice! many many thx..!

hi macadamia

sorry but i stay opp rivervale mall. i doubt where you buying is near the sk mrt leh... r u sure?

rivervale mnall to sk mrt (by car) needs ard 5-10mins. LRT 2 stops....

btw, yours is considered good buy because you have got a huge ntuc, foodcourt, daiso at rivervale mall...

and 36k for a 5rm lok kok sounds ok to me coz i sold mine for cov 46k - 4rm last weekend

[forgotten 1]

hi macadamia

sorry but i stay opp rivervale mall. i doubt where you buying is near the sk mrt leh... r u sure?

rivervale mnall to sk mrt (by car) needs ard 5-10mins. LRT 2 stops....

btw, yours is considered good buy because you have got a huge ntuc, foodcourt, daiso at rivervale mall...

and 36k for a 5rm lok kok sounds ok to me coz i sold mine for cov 46k - 4rm last weekend

15min walk is possible if traffic lights are 'obedient'. My family and I walked from Sengkang MRT to Rivervale Mall before.

Edited June 11, 2010 by forgotten

[pixiepixel 0]

15min walk is possible if traffic lights are 'obedient'. My family and I walked from Sengkang MRT to Rivervale Mall before.

in my 5 years of being here, never walked this far to sk mrt before. always surrender to LRT

Edited June 11, 2010 by pixiepixel

[bepgof 20]

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

Just to let you know:

- I borrowed 18K from my grand mother (mil's mother)'s "coffin money" in 1992 for reno & some furniture stuff. Wedding, reno almost all come together.

- Plastering, sanding, painting, electrical wires modifications, lighting installation... all done by me. Have great "sense of belong" after that.

- Practised 2 skills then: "Tighten the belt" & "bite the bullet". Paid back 18k within a year. Once learnt, remember for life.

Edited June 11, 2010 by bepgof

[macadamia3050 0]

pixiepixel: hee me n my sis walked once b4, but we took about 20min, incl detour a bit n walking on heels (read: slow haha)..

bepgof: man we haf a lot to learn!

[bepgof 20]

pixiepixel: hee me n my sis walked once b4, but we took about 20min, incl detour a bit n walking on heels (read: slow haha)..

bepgof: man we haf a lot to learn!

The loan amount thought was "interest free" as told by my MIL then, but to me, the interest was "figureless" - could be any number. She might call home by the Lord anytime & needed the amount. I could imagine the worst case situation when all eyes stared & fingures pointed at us.

The wedding & new home came at together at "wrong" timing - What to do? I think most singapore young couples, now still facing this problem, especially whose parents are "not-rich".

Edited June 20, 2010 by bepgof

[blueocean 0]

There are some couples that spend a huge amount on wedding dinner/photos and leave very little for the home loan/renovation.

The wedding & new home came at together at "wrong" timing - What to do? I think most singapore young couples, now still facing this problem, especially whose parents are "not-rich".

[bepgof 20]

There are some couples that spend a huge amount on wedding dinner/photos and leave very little for the home loan/renovation.

Ya lor, some more black-color table cloth, chair, everything BLACK. Stylish?, end up.... Going against "tradition" pay?

Edited June 21, 2010 by bepgof

[blueocean 0]

bepgof,

BTW, there is an article on top up of leasehold land in the business times today ...

60% of such top ups are approved by SLA.

Ya lor, some more black-color table cloth, chair, everything BLACK. Stylish?, end up.... Going against "tradition" pay?

[bepgof 20]

bepgof,

BTW, there is an article on top up of leasehold land in the business times today ...

60% of such top ups are approved by SLA.

BO, thank for alerting, I've read.

Edited June 21, 2010 by bepgof

[chia90 0]

bepgof,

BTW, there is an article on top up of leasehold land in the business times today ...

60% of such top ups are approved by SLA.

Hi BlueOcean,

Do not think it is free right? Anyone know the cost or formula used in such top ups?

thks and rgs,

[Danielray 0]

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.

u kidding? 6% for HDB loan? time to refinance

[sff 0]

u kidding? 6% for HDB loan? time to refinance

No kidding. I also kenna before.