Mansionette Owner

[frostyflake 0]

Heard from my frd..she went to her auntie's EM at Mei ling street..the rooms are located below the living room than above..so stylo..

wah really stylo lor... so the main entrance is on the 'top' level, walking down to the bedroom area?

i got my revised quote,...and it's now reduced to about 15k.

cos i did not do much......overhaul kitchen only....

really look forward to start reno soon...

yeah, hougang is leading for now

hey, u started your reno?

how come nv do much? i thought u wanted overhaul? becos of FS?

I started mine, go take a look at my t-blog

[LLCC 0]

I was quoted $7180 for 2 sets of system 3 Daikin inverter wall mounted with stainless steel bracket, etc.

Also include supply + install + transport + 1 year workmanship warranty, 1 year spare part & 5 year compressor warranty by manufacturer. Is this reasonable?

[Jessie 0]

hi frosty,

ended up,...we only need to overhaul the kitchen,.....and for 3 toilets, we felt the tiles all still very new and it's going to be quite wated if we wanna hack and redo....thus remains lor.

except change the toilet bowls lor.

then for the rest of the items.....ceiling no need to do cos the current false ceiling and downlight are also new (just need to change the light),....then flooring for whole hse also no need to do anything.....and painting also no need to pay cos my hb's uncle will get his workers to paint for us lor....keke

so, quite lucky that we managed to cut till ard 15k lor.

Mine is the block behind the one opp Mac.

You can say that it is the top floor but it's not the highest in the Block as the Block has a slanted roof.

floor plan as such...

You mean those shops near Sungei Road / Jln Besah?

hi hi nath

congrats on confirming your new hse!

wow, i like your layout leh....so big and can hv a nice kitchen with island there!!!!

that's my dream though

looking forward to see your reno blog...

[hello88 2]

if HDB acting for buyers/sellers then 2nd appointment date would be scheduled between 6-8 weeks after 1st apointment.

Valuation: $500k

COV: $27k

So during the 1st appointment,

* Pay balance COV

* Pay misc / registration fee?

* CPF OA money wiped out

Fire insurance: How to buy? Where to buy? How much?

wow, valuation very high. Like that, estimate how much per month for housing loan?

there'll be a counter to purchase fire insurance....u wont miss it as usually long queue plus there's also a sign directing u to buy fire insurance. Very cheap nia cos it basically covers the walls..nothing much on our renovation or valuables. I think less than $10 for 5 years....sorry, cant really recall liao. I bought another home insurance from AIA over and on top of this miserable fire insurance. It covers burst water pipes, lost of keys, etc

i got my revised quote,...and it's now reduced to about 15k.

cos i did not do much......overhaul kitchen only....

wow, that's good cos reno cost really very ex. Save the available cash for furnishing and rainy days

Heard from my frd..she went to her auntie's EM at Mei ling street..the rooms are located below the living room than above..so stylo..

cool! Bishan also got some unique EMs whereby there's another entrance. My friend been to one.

[frostyflake 0]

hi frosty,

ended up,...we only need to overhaul the kitchen,.....and for 3 toilets, we felt the tiles all still very new and it's going to be quite wated if we wanna hack and redo....thus remains lor.

except change the toilet bowls lor.

then for the rest of the items.....ceiling no need to do cos the current false ceiling and downlight are also new (just need to change the light),....then flooring for whole hse also no need to do anything.....and painting also no need to pay cos my hb's uncle will get his workers to paint for us lor....keke

so, quite lucky that we managed to cut till ard 15k lor.

you are so lucky! got the house cheap and can save up so much on reno! good for you!

[hello88 2]

My first appt to sell took 3 hours, my appt was at 10am but only get to see the officer at 12:20pm, came out 12:40pm. I think it could be those in front of us asking too many questions. Like my buyer went into the room at 11:45am, then they call us 35 mins later. If everyone ask too many questions it will delay the waiting. I tot these questions should have already been answered by the agent????

As for the 2nd appt date, both buyer and seller have to agree upon a date and submit a written agreement to HDB with both seller & buyer signatures. I took the max 8 weeks.

If HDB is acting for you, u will have to pay the COV on first appt. HDB is not acting for me so my COV will have to be paid via the lawyer. But with so many recent case of lawyer running away with clients $$, i didn't give the COV to my lawyer but instead will have to prepare cashier orders to be paid to seller & HDB on my 2nd appointment.

The only thing i paid was the lawyer fee, stamp duties etc, $7050 on first appt, paid to my lawyer.

Hi, need some info from u.

- U sold your 5 room and bought EM right? sell high, buy high?

- U didnt take HDB housing loan for purchase of EM?

- we have to pay upfront 5% cash if we taking bank loan right? Still have to engage a lawyer to execute the sales and loan?

- roughly how much u loan from bank for this EM and what's the estimated monthly instalment?

Thanks in advance.

[Jessie 0]

hi hello88,

if you are taking bank loan, then will hv to pay 5% of the purchased price in cash and engage a lawyer to process the entire transaction for you.

this is the only info i can offer you now cos i was very lucky to be able to get hdb loan.....

[chronograph 0]

Hi, need some info from u.

- U sold your 5 room and bought EM right? sell high, buy high?

- U didnt take HDB housing loan for purchase of EM?

- we have to pay upfront 5% cash if we taking bank loan right? Still have to engage a lawyer to execute the sales and loan?

- roughly how much u loan from bank for this EM and what's the estimated monthly instalment?

Thanks in advance.

There you go:

- U sold your 5 room and bought EM right? sell high, buy high?

Yes. I guess consider sell high and buy high as my neighbor sold their at 290k 1.5 years ago. I sold my at 358k, val 330k cov 28k. I bought my EM at 415k, val 375k cov 40k. I think it has not reach the peak yet cos my seller sold at a lost to me. Heard the HDB officer told him to top up balance into CPF on closing transaction.

- U didnt take HDB housing loan for purchase of EM?

Thanks to HDB 8k ceiling, well done to them to maintain this after HDB house are going at more than 1/2 a mil. I didn't qualify so have to get private bank loan.

- we have to pay upfront 5% cash if we taking bank loan right? Still have to engage a lawyer to execute the sales and loan?

Yes, 5% of the val will be 375k * 0.05 = 18.75k. Lawyer is appointed by the bank cos i don't have one myself so let the bank decides. Of course it will be more ex compare to getting HDB to act for you.

- roughly how much u loan from bank for this EM and what's the estimated monthly instalment?

About 135k loan, it can be lesser but decided to keep some funds in our CPF for raining days. Monthly at 950 for 15 years cos same reason as above. But we will do a partial principal sum pay up every 2 years depending on the locked down duration. That will reduce the loan further, hope to clear fast cos we r paying 2 interest here, one from CPF and one from HDB/Bank.

Edited June 19, 2008 by chronograph

[Jessie 0]

hi chrono,

ya lor,....all thanks to hdb for remaining the 8k income ceiling cap.

lucky for my case,......me and my hb income infact exceeds the ceiling when we completed the transaction cos we got our increment on April,...however, our HLE was applied b4 that increment and it's still valid when we did the submission and exercise OTP on Feb.

Timing is just nice for us...

guess we will hv to go for bank loan if we are going to move to next step.

was thinking if i can make some profit form this EM,.....will probably sell in abt 4-5yrs later and downgrade to resale 5room,....and fully paid....

keke

[MaCe 3]

was thinking if i can make some profit form this EM,.....will probably sell in abt 4-5yrs later and downgrade to resale 5room,....and fully paid....

keke

same here, 4 yr's time if price is good.

we plan to downgrade to 3room or cheap 4room around 200k.

[chronograph 0]

hi chrono,

ya lor,....all thanks to hdb for remaining the 8k income ceiling cap.

lucky for my case,......me and my hb income infact exceeds the ceiling when we completed the transaction cos we got our increment on April,...however, our HLE was applied b4 that increment and it's still valid when we did the submission and exercise OTP on Feb.

Timing is just nice for us...

guess we will hv to go for bank loan if we are going to move to next step.

was thinking if i can make some profit form this EM,.....will probably sell in abt 4-5yrs later and downgrade to resale 5room,....and fully paid....

keke

I will be staying in my EM for long, guess easily more than 6 years cos there are a number of primary schools around, so can save on school bus fees. My eldest daughter going primary 1 next year.

[Jessie 0]

same here, 4 yr's time if price is good.

we plan to downgrade to 3room or cheap 4room around 200k.

yeah. same here.

for my case is quite lucky...cos i sold my 5room for 400k, and bog this EM for 355k.

just hope that the market will be good in 4yrs time....cos looking at it,...EM is fetching a good resale price due to it's rarity in the market.

I was looking at hougang area's resale value and most of it are selling at at least 420k,.....and hope that i can fetch at least 450k in 4yrs time...

then downgrade to 5room (hope can get cheap deal also...keke ) then fully paid and no loan,....then not so siong lah.....cos looking at the inflation now,.....*sigh*

[MaCe 3]

yeah. same here.

for my case is quite lucky...cos i sold my 5room for 400k, and bog this EM for 355k.

just hope that the market will be good in 4yrs time....cos looking at it,...EM is fetching a good resale price due to it's rarity in the market.

I was looking at hougang area's resale value and most of it are selling at at least 420k,.....and hope that i can fetch at least 450k in 4yrs time...

then downgrade to 5room (hope can get cheap deal also...keke ) then fully paid and no loan,....then not so siong lah.....cos looking at the inflation now,.....*sigh*

5 room not that popular - 4 room easiest to let go.

some 4rooms in hougang now still around $200k + - nia

[Jessie 0]

5 room not that popular - 4 room easiest to let go.

some 4rooms in hougang now still around $200k + - nia

but, i hv 2 boys,...and i will need bigger hse lor.

my bro bog a resale 5rm at HG st91,...and that 5rm has 3bedrooms+1study leh.

the area is quite big...

i will need to hv 3bedrooms+1study lor...... cos my PIL might stay with us infuture mah......so, i still hv to cater for that possibility lor.

[hello88 2]

There you go:

- we have to pay upfront 5% cash if we taking bank loan right? Still have to engage a lawyer to execute the sales and loan?

Yes, 5% of the val will be 375k * 0.05 = 18.75k. Lawyer is appointed by the bank cos i don't have one myself so let the bank decides. Of course it will be more ex compare to getting HDB to act for you.

- roughly how much u loan from bank for this EM and what's the estimated monthly instalment?

About 135k loan, it can be lesser but decided to keep some funds in our CPF for raining days. Monthly at 950 for 15 years cos same reason as above. But we will do a partial principal sum pay up every 2 years depending on the locked down duration. That will reduce the loan further, hope to clear fast cos we r paying 2 interest here, one from CPF and one from HDB/Bank.

roughly how much is the lawyer fee? wow, not bad...only need to loan 135k...which bank did u opt for and how much is the interest?

huh? partial principal sum payble every 2 years? Then would we hit the CPF withdrawal limit?

but, i hv 2 boys,...and i will need bigger hse lor.

my bro bog a resale 5rm at HG st91,...and that 5rm has 3bedrooms+1study leh.

the area is quite big...

i will need to hv 3bedrooms+1study lor...... cos my PIL might stay with us infuture mah......so, i still hv to cater for that possibility lor.

biggest 5-room in Hougang would be near MACE's area, Hougang St 21/Lor Ah Soo.

I also need more bedrooms as my parents staying with us....we also prefer to have the rubbish chute inside our unit and open space carpark.

u also have 2 boys? The boys would have fun climbing the stairs. Mine did but after a while, started complaining but now they're used to it.