Mansionette Owner

[Byr 0]

Hi Starlight,

No COV can happens... it happens for almost 10 years just before the last (recent) year property bloom in 2007. Recalling that from almost 1998-2007, almost all EM are selling at low/no COV in average, if i am not wrong. However property market got peaked from 2007 till 08 march due to good economy & less regulated en-bloc markets, this bloom the property markets & help sets many hdb sellers into unrealistic COV expectations but also helps release many good units that previously sellers are alway relunctant to sell due to negative sales (as they buy in peak 97') etc... Everything goes in a cycle and almost for sure, market situations like the above will happen again.... how long and whats the stretch of the cycle, noone really knows as it all depends on so many factors. Usually if you are staying as your primary residential unit, paying thru cpf and if you have a lot and a good monthly contribution, the above hardly affects you...

Also don't get too worry and suspect the house you are considering sure got problems. No COV can be a steal as what a fellow from this site mention...

Sometimes due to the impending global recession and the long over-due materialisation of property slump coupled with the fire sales at this moment... i think the near COV can happen and should be starting if the global econmy continues at its current pace ... Remember sellers are also worried and scared!!! if they really want to sell, they will & have done their sums... This may lead to some of them to consider the earlier mentioned factors & now are willing to quickly let go: by cutting their loss (or profit) selling at the current relatively high valuation.

Remember its not COV that sets the sellers' profit etc . COV plus valuation = the total nett selling price & that works to the total profit/ loss after sellers less their outstanding mortages, interest and dues.

My opinion is that big Hdb unit's Valuation will probably slowly slides down and even-out without COV in the near future if economy stagnanfied or run into prolong recession. Remember Hdb valuation is always slower in reflection of the real property market condition... (usually about 3-6 months). In a hdb property sales, the COV will likely first stablilize then falls (like in the possibly coming downturn). This may be attributed to the downwards rippling effects from the poor private sales and dipping private prices anv Huge supply completing in the near future... But overall EM may be just a little more resilient as the supply is limited but can be more affect by the private markets as its always consider either as a "substituition" or "alternatives". Ie. why you buy a condo or walk-up if in the next 6-12 months a 99yr lease 3 room private unit is calling at $500k from a bank sales? See the effects and the overall picture?

I think you need to state/ consider your location, Floor level and expectations (like near schools, malls, mrt etc) These are factors that will decide its value relevant to you. Like you need a big unit (no of rooms) at a certain price? Like location?

But most importantly, consider the reasons to your purpose of purpose; this unit or others.

So you works towards achieving what you want and be happy about your achievement rather than what the market asks, & pay and worst of all in ignorance.

I bought mine in Bishan Central with COV $5K!!! But a nerve wacking and stressful time over 6 mths....I might just not make it then... luckily I was blessed with both my good COV sales & low COV purchase so it works out well for me then.

do your research well... visit the unit a few more times.. spend walking around at different times of the day and speak to neighbours if possible to find out more about its history etc.. this may helps. BUT ALSO ACT FAST!!! good unit usually may not wait!

Understand that there are many reasons why sellers wants to sell!!!

1. Cash out while its price is still good now rather than if it falls further?...

2. downgrade? don need such a big unit any more as children moves out etc

3. Financial problems due to the current economy etc etc.. need cash flow... need to have lower monthly commitment etc...

Be open. Accept that above various reasons may not always be negative to the seller. And also such real reason will always be a lingering negative influence to you in future. Just pratice your due diligence if necessary like move-in ritual, implenting Fengshui etc depending on what you believes...

But on the contrary, always also take sellers (esp. agent's) words with a pinch of salt for their reason, as no-one usually would want to announce that they are worse off etc. Everyone wants faces. Just make sure such reason is not like a dire situation to why the sellers are selling being like murder or a haunted hosue etc. which is usually against your benefits to the new ownership.

Also understand that property price WILL always goes up n down... Now you may buy high but you sell high as well... when you buy low... you also sell low etc in almost all cases... Plus Its not very possible and accurate to time property sales, very hard and stressful. many time scan go wrong.

Lastly, in essence you must love your unit and its whole package considering what you want. Importantly is what you can afford and how it fits into your plans & overall financial, taking consideration even the reno and misc "hidden cost"....

so its really time to think over your requirements now.... But also be prepare whatever we can do or plan... theres always Murphy Laws at work... Expect the unexpected as everything & anything can go wrong!!! kekeke

Just be able to answer to yourself lor...

Ciao...

Just my 2 cents of advice.... Hope they benefit you.

Byron

Edited October 23, 2008 by Byr

[pfrog 0]

Hi everyone! Potential Mansionette owner here. Just sold my condo, and downgrading to mansionette. Have seen quite a few good ones in Tampines, and probably will be deciding on one very soon.

I am now putting together my budget for some reno works. Any good ID to recommend? If you can provide some links, it will be great too, as I would like to check out their portfolio, and get some quotes.

Thanks.

[Byr 0]

Hi everyone! Potential Mansionette owner here. Just sold my condo, and downgrading to mansionette. Have seen quite a few good ones in Tampines, and probably will be deciding on one very soon.

I am now putting together my budget for some reno works. Any good ID to recommend? If you can provide some links, it will be great too, as I would like to check out their portfolio, and get some quotes.

Thanks.

Hi Check the various sections, i believe there's a wealth of resources there...

depending on what are you looking for in the id or concept... its easier to narrow from there for fellow bro in this web site to assist you....

hope this helps

[Hiera 0]

Byr: That was a very informative one!

I managed to get my unit at 10k COV and I find it a steal already...

Cos it meets all my expected criteria:

5min to MRT, High Floor Corner, Supermarket

Though the fact that I will have to do an over hual to the whole unit.. But at least, it would be a reno-design that we want~

I m kindda.. or rather, very excited...

Its my 1st appt tomorrow!

[Byr 0]

Byr: That was a very informative one!

I managed to get my unit at 10k COV and I find it a steal already...

Cos it meets all my expected criteria:

5min to MRT, High Floor Corner, Supermarket

Though the fact that I will have to do an over hual to the whole unit.. But at least, it would be a reno-design that we want~

I m kindda.. or rather, very excited...

Its my 1st appt tomorrow!

Hi Hiera,

Wheres your place... I am sure u are a happy owner now... rem to take some pictures...

Yes i can understand that as I been thru the same... kekkeke... I waited almost 6 months with some sleepless night then now that i recall ..... gone are those days...

I did/ or rather is doing a overhaul too... I 101% agree n advocate that the over haul at least will be what u want..... rather than paying for others idea that sometimes doesnt make sense or appeal to you but have to live with it...

for design n ideas... there is no short of ideas and information in the veraious sections in tis web site... jus ahve to spenv some time... I was regretfull I didnt know about this site till 1 fine day as I was complating wheather to buy a Ariston or Joven Heater that I stumble upon this site... then I discover a gem.... kekekke

Anyway many bros here are helpful... jus have to ask n likely u will b "given".... kekeke

ciao

[Angel81 1]

Byr: That was a very informative one!

I managed to get my unit at 10k COV and I find it a steal already...

Cos it meets all my expected criteria:

5min to MRT, High Floor Corner, Supermarket

Though the fact that I will have to do an over hual to the whole unit.. But at least, it would be a reno-design that we want~

I m kindda.. or rather, very excited...

Its my 1st appt tomorrow!

Hehehehe! Congrates Hiera! U r halfway there to being a proud owner of ur EM.

[mrsv 0]

Byr - same position as me. also sold condo n moved to mais. Also doing 100% overhaul! initially excited but now even more so except have been so bz no time to drop by. Going there later! my hubby says painting done and lights are up etc. so now looking like a hse! however, the amt we spend on appliances/fittings - we must get our money's worth by living there for at least a decade!

Hiera - 10k COV v good. high flr, supermarket etc.. wow.. those were also my conditions. But i paid 25K COV. not high floor as highest is 12th. my advise is to start as early as poss cos' you will really really be rushed once reno works start. Whatever planning u can do, whatever reading up, checking online, getting contacts etc... do it before you meet contractor so that u know what they are talking abt and u dont kena cheated..

[Byr 0]

Byr - same position as me. also sold condo n moved to mais. Also doing 100% overhaul! initially excited but now even more so except have been so bz no time to drop by. Going there later! my hubby says painting done and lights are up etc. so now looking like a hse! however, the amt we spend on appliances/fittings - we must get our money's worth by living there for at least a decade!

Hi MrsV,

Yupe.. same sentiments... kekeke... i foresee 10 years of staying... (I Hope)... Cos 2 prince's primary school tenure 6years + another 6 years will see us thru at least our intended occupational period to reap back the investment to the reno.

[Hiera 0]

Hi Hiera,

Wheres your place... I am sure u are a happy owner now... rem to take some pictures...

Yes i can understand that as I been thru the same... kekkeke... I waited almost 6 months with some sleepless night then now that i recall ..... gone are those days...

I did/ or rather is doing a overhaul too... I 101% agree n advocate that the over haul at least will be what u want..... rather than paying for others idea that sometimes doesnt make sense or appeal to you but have to live with it...

for design n ideas... there is no short of ideas and information in the veraious sections in tis web site... jus ahve to spenv some time... I was regretfull I didnt know about this site till 1 fine day as I was complating wheather to buy a Ariston or Joven Heater that I stumble upon this site... then I discover a gem.... kekekke

Anyway many bros here are helpful... jus have to ask n likely u will b "given".... kekeke

ciao

My Place is at Bukit Gombak where the Xiao Gui Lin is... But my Unit.. do not have any beautiful view other than kitchen.. lingerie... and errrr... corridors...

Hehehehe! Congrates Hiera! U r halfway there to being a proud owner of ur EM.

Thanks!~

Hiera - 10k COV v good. high flr, supermarket etc.. wow.. those were also my conditions. But i paid 25K COV. not high floor as highest is 12th. my advise is to start as early as poss cos' you will really really be rushed once reno works start. Whatever planning u can do, whatever reading up, checking online, getting contacts etc... do it before you meet contractor so that u know what they are talking abt and u dont kena cheated..

my high floor is actually so-so de high floor.. not those super high de.. 8th floor only..

Just a little sharing..

My estimated 2nd appt is some where in the 1st 2 weeks of Dec.. I allowed seller to stay for a month.. Which is latest by 2nd week of Jan they have to move out le..

However, My seller has requested to stay till Mid Feb.. reason being its CNY period.. She dun wanna shift house.. But I see that the 1st half of Jan to shift away isnt that bad right.. cos CNY is around 20++ of Jan 2009

So sad... I am so eager to get the house.. and on another hand.. my seller has no place to stay.. The even applied for the recent balloting cos they thought they have about 3-4months after 2nd appointment..

My agent has protected us by asking them to sign an agreement stating that if they over stay.. they will have to pay a "market rental rate" to compensate our loss of stay...

Edited October 28, 2008 by Hiera

[Angel81 1]

My estimated 2nd appt is some where in the 1st 2 weeks of Dec.. I allowed seller to stay for a month.. Which is latest by 2nd week of Jan they have to move out le..

However, My seller has requested to stay till Mid Feb.. reason being its CNY period.. She dun wanna shift house.. But I see that the 1st half of Jan to shift away isnt that bad right.. cos CNY is around 20++ of Jan 2009

So sad... I am so eager to get the house.. and on another hand.. my seller has no place to stay.. The even applied for the recent balloting cos they thought they have about 3-4months after 2nd appointment..

My agent has protected us by asking them to sign an agreement stating that if they over stay.. they will have to pay a "market rental rate" to compensate our loss of stay...

They think they have abt 3-4mths AFTER 2nd appt? Wah lao... I think they abit too much. Allow them to stay for one mth fine, but extend extend extend.....

Think u gota state a latest date that they have to move out. If not wait they slowly slowly find their new place and u gota wait and wait.

[Hiera 0]

They think they have abt 3-4mths AFTER 2nd appt? Wah lao... I think they abit too much. Allow them to stay for one mth fine, but extend extend extend.....

Think u gota state a latest date that they have to move out. If not wait they slowly slowly find their new place and u gota wait and wait.

The agent stated after 1 month upon dateof completion ( which is 2nd appt bah)

Are u looking forward to your 1st appt? =D

[mrsv 0]

Hiera

same case for my seller too.. they didn't even want to pay rent. basically stay for free. But thank God they moved out 2 wks after conclusion of sale cos they got their place earlier than expected.. so not too bad.

does anyone have any idea who i can go to to get my children's room painted? i dont want to use wallpaper... rather have ppl come n paint the kiddies room so it's nice and friendly looking for kids... pls share yr thots. I dont want any stick ons as I need the pic to cover entire wall...

[Angel81 1]

The agent stated after 1 month upon dateof completion ( which is 2nd appt bah)

Are u looking forward to your 1st appt? =D

Oh gd gd. At least it's stated. Hopefully they'll get their new place soonest. Hehe, yah. 1st appt coming soon liao. Finally.....

does anyone have any idea who i can go to to get my children's room painted? i dont want to use wallpaper... rather have ppl come n paint the kiddies room so it's nice and friendly looking for kids... pls share yr thots. I dont want any stick ons as I need the pic to cover entire wall...

How old are ur kids? If they are old enough, can consider painting with them? It'll be more interesting and can include them in the decorations of their room.

Just cut out stencils and paint if u dun wana do free hand.

[mrsv 0]

angel81... my girl is 3 and my boy is in my womb..

[Angel81 1]

Hi mrsv!

Wao, pregs mommy! How long more till due date? Must be very excited. hehe..

Hmm.. like that my idea is confirm out liao. You may wish to take a look at this webbie: http://www.hansart.sg/profile.html

I used to do my hair with his wife (she has a hair salon at the back of the shop @ Keong Siak St) and was told that her husband can do paintings and even paint on the walls. Not too sure if he still does that and about the price though.

I also happen to come across this ad when I was searching for sth else. Maybe u wana chk it out. http://www.inkiti.com/a,16134,Wall-art-painting-services.htm

Edited October 29, 2008 by Angel81