60K Cov For Jurong West Ea Reasonable ?

[frostyapple 0]

I am planning to buy an EA, 142 sq m, 3rd floor, within 5 mins walk of Jurong Point. I am offering 60K COV, and I am wondering whether this is reasonable ?

What's your opinion ?

[dinobros 1]

I am planning to buy an EA, 142 sq m, 3rd floor, within 5 mins walk of Jurong Point. I am offering 60K COV, and I am wondering whether this is reasonable ?

What's your opinion ?

1) How is the view from the unit as it is only the 3rd floor?

2) How is the renovation (note that any amount spent on COV = the amount you have less for renovation)

For me, if the view is good (park view) and the reno is good, I will be willing to pay the 60k COV.

[frostyapple 0]

1) How is the view from the unit as it is only the 3rd floor?

2) How is the renovation (note that any amount spent on COV = the amount you have less for renovation)

For me, if the view is good (park view) and the reno is good, I will be willing to pay the 60k COV.

The unit is facing other blocks of flats, there is a small garden on the ground floor with some trees, quiet.

The renovation is parquet flooring in living/dining/bedrooms, that is why the valuation is high $553K. But the floor looks old and I definitely need to hack everything and lay new tiles.

This EA is the biggest among all other EAs near Jurong Point which are usually only 130 sq m. I can partition 2 more bedrooms, total 5 bedrooms, and still have a spacious living room.

Sigh...I have seen many EA units near Jurong Point and almost all are asking for $100K COV.

[knownothing 0]

The unit is facing other blocks of flats, there is a small garden on the ground floor with some trees, quiet.

The renovation is parquet flooring in living/dining/bedrooms, that is why the valuation is high $553K. But the floor looks old and I definitely need to hack everything and lay new tiles.

This EA is the biggest among all other EAs near Jurong Point which are usually only 130 sq m. I can partition 2 more bedrooms, total 5 bedrooms, and still have a spacious living room.

Sigh...I have seen many EA units near Jurong Point and almost all are asking for $100K COV.

I bought mine in Jan, 8min walk to Jurong Point, 130sqm, 3rd floor also, paid 55k COV for that. Yes, certainly EAs near to Jurong point with an area of 142sqm is extremely rare. If you need the convenience and the large living space, I think 60k is still reasonable on a per sq foot basis. If you dont need such a large house, I think it is better to get a place in areas that are more prime (e.g. queenstown, redhill?). Better in terms and convenience and more room for price appreciation next time

[frostyapple 0]

I bought mine in Jan, 8min walk to Jurong Point, 130sqm, 3rd floor also, paid 55k COV for that. Yes, certainly EAs near to Jurong point with an area of 142sqm is extremely rare. If you need the convenience and the large living space, I think 60k is still reasonable on a per sq foot basis. If you dont need such a large house, I think it is better to get a place in areas that are more prime (e.g. queenstown, redhill?). Better in terms and convenience and more room for price appreciation next time

Thanks for sharing.

We actually offered 55K COV, thinking that the buyer will reject and then we will go up to max 60K. Who knows the buyer readily accepted 55K COV. However, they asked for 2 months extension after 2nd appointment which I am not comfortable with, because it is illegal. Also, I searched HDB website and found that there was only 1 flat in the immediate neighbourhood sold within the past year, even bigger at 147 sq m, also 3rd floor, and sold for only $528K in Jan 2011. I began to think that I am paying too much. So I withdrew the offer.

My kids are going to primary school in Jurong West,so we need a flat here, and I do need at least 4 bedrooms, preferably 5.

Edited August 28, 2011 by frostyapple

[chronograph 0]

Seriously everything looks like it is on your side, val 553k, cov 55k(lower than ave asking 100k), can partition more rooms, near to your kids school etc..

So why gave up because of past transaction?

Thanks for sharing.

We actually offered 55K COV, thinking that the buyer will reject and then we will go up to max 60K. Who knows the buyer readily accepted 55K COV. However, they asked for 2 months extension after 2nd appointment which I am not comfortable with, because it is illegal. Also, I searched HDB website and found that there was only 1 flat in the immediate neighbourhood sold within the past year, even bigger at 147 sq m, also 3rd floor, and sold for only $528K in Jan 2011. I began to think that I am paying too much. So I withdrew the offer.

My kids are going to primary school in Jurong West,so we need a flat here, and I do need at least 4 bedrooms, preferably 5.

[frostyapple 0]

Seriously everything looks like it is on your side, val 553k, cov 55k(lower than ave asking 100k), can partition more rooms, near to your kids school etc..

So why gave up because of past transaction?

I was suspicious about why the seller readily accepted 55K and never asked for more. I offered 55K because the agent told me that the last offer was 50K, then I realized that she could have been telling lies. I should have tried to offer 45K first. The renovation is really old and I have to spend a lot of money to renovate the whole house.

Anyway, that is not exactly my dream flat, my hubby wanted high floor, and I wanted an EA flat opposite my old flat. This unit is some distance away and not within walking distance to my kids's school, unlike my old flat.

[chronograph 0]

So many things u didn't mention.... good to give it a pass since nothing is right.

Good luck ya......

On the reno thingy, sometimes people just want to redo the house even if it is newly renovated cos simply don't want a trace of ex-owner. Of course must be supported by $$$$. Although i paid 40k COV and spent another 40k reno cos the house was in bad condition, if good reno will be bonus to me.

My primary concerns are location first, facing(Feng Shui), high floor etc, reno is last.

I was suspicious about why the seller readily accepted 55K and never asked for more. I offered 55K because the agent told me that the last offer was 50K, then I realized that she could have been telling lies. I should have tried to offer 45K first. The renovation is really old and I have to spend a lot of money to renovate the whole house.

Anyway, that is not exactly my dream flat, my hubby wanted high floor, and I wanted an EA flat opposite my old flat. This unit is some distance away and not within walking distance to my kids's school, unlike my old flat.

[frostyapple 0]

It's so difficult to find my dream flat !

There is a flat which is exactly what I wanted, less than 5 mins to Jurong Point, opposite my old flat and near my kids' school, spacious, good layout, unblock, only thing is that I need to renovate the whole house which I don't mind.

However, I offered $70K COV and the owner still does not want to sell ! There is no way that I am going above $70K COV because the unit requires renovation. The buyer is being very unrealistic right ? He is asking for $110K COV and I believe no one will pay that amount for a flat in Jurong West.

Sian....

Edited September 3, 2011 by frostyapple

[chronograph 0]

110k COV? i look else where.

It's so difficult to find my dream flat !

There is a flat which is exactly what I wanted, less than 5 mins to Jurong Point, opposite my old flat and near my kids' school, spacious, good layout, unblock, only thing is that I need to renovate the whole house which I don't mind.

However, I offered $70K COV and the owner still does not want to sell ! There is no way that I am going above $70K COV because the unit requires renovation. The buyer is being very unrealistic right ? He is asking for $110K COV and I believe no one will pay that amount for a flat in Jurong West.

Sian....

[warlock8187 0]

It's so difficult to find my dream flat !

There is a flat which is exactly what I wanted, less than 5 mins to Jurong Point, opposite my old flat and near my kids' school, spacious, good layout, unblock, only thing is that I need to renovate the whole house which I don't mind.

However, I offered $70K COV and the owner still does not want to sell ! There is no way that I am going above $70K COV because the unit requires renovation. The buyer is being very unrealistic right ? He is asking for $110K COV and I believe no one will pay that amount for a flat in Jurong West.

Sian....

$110k COV? The seller must wait long long. Actually..all these COVs are being pushed up by this people. I bought my resale EA recently at a COV of $58k but there is minimum reno needed. I do not want to pay COV $60k and still need to hack the whole place. Anyway, it's up to you also...with deep pockets and if unit is really good...I think you will also think twice before buying. Just my 2 cents of advise.

[frostyapple 0]

For me the location is important, must be close to Jurong Point and within walking distance to my kids' school. So I don't mind paying more if I find the right unit, even if I need to hack the whole house.

I wonder if I will ever find my dream house ? I have been searching for 2 months already.

A few days ago I saw one unit which is quite nice, highest floor, 4 bedrooms, reasonable COV $55K, but the problem is that I can hear the noise from the MRT tracks in the bedrooms !

[dinobros 1]

Talking about noise, are we allowed to do double glazed windows?

[zaiyo1419 0]

For me the location is important, must be close to Jurong Point and within walking distance to my kids' school. So I don't mind paying more if I find the right unit, even if I need to hack the whole house.

I wonder if I will ever find my dream house ? I have been searching for 2 months already.

A few days ago I saw one unit which is quite nice, highest floor, 4 bedrooms, reasonable COV $55K, but the problem is that I can hear the noise from the MRT tracks in the bedrooms !

If you are not in the hurry, hold on to your buy. I will never never pay 60k for a 3rd floor in JW. If you tell me the flat is less than 8 year old, mid-high floor with nice-decor, and 5 mins walk to MRT, i will consider.

Spend more time on property-guru and other web-sites. U be surprised thee are many houses for sale at reasonable cov or open for nego. The sellers just quote for fun and wait for an impulsive buyer. So be patient.

I am not saying that JW is no good but a check with the data, JW belongs to the lower tier that doesnt command such high cov.

Just hang a carrot to this seller at 30k non-nego as you have a few places in mind already and continue your search. In 2 months time if he still cant any buyer, he will turn anxious and nego with you.

BTw, best of luck for searching the new home

[zaiyo1419 0]

Thanks for sharing.

We actually offered 55K COV, thinking that the buyer will reject and then we will go up to max 60K. Who knows the buyer readily accepted 55K COV. However, they asked for 2 months extension after 2nd appointment which I am not comfortable with, because it is illegal. Also, I searched HDB website and found that there was only 1 flat in the immediate neighbourhood sold within the past year, even bigger at 147 sq m, also 3rd floor, and sold for only $528K in Jan 2011. I began to think that I am paying too much. So I withdrew the offer.

My kids are going to primary school in Jurong West,so we need a flat here, and I do need at least 4 bedrooms, preferably 5.

Prices for HDB has increase from Jan to Sept now @5%. So 528k + 5%appreciation = @554k.

So you cannot judge the resale price back then in Jan

Just my 2 cents worth