Mansionette Owner

[cleong 1]

I'm curious how such a highly sought-after Queenstown flat would end up in the HDB ballot system instead of being sold on the open market? This is not a pre-MOP sale. I can only think of it being taken back by HDB.

Nevertheless getting a Queenstown flat *at* valuation is great, you should have a nice stash of cash with which to do up your flat very nicely now. Congratulations!

[cleong 1]

I wouldn't have done it like this but the owner did take a lot of design risks on his EM to reduce the room count. But the outcome is quite unlike most EMs and frankly quite impressive to me:

http://www.propertyguru.com.sg/listing/hdb-for-sale-603-elias-road-11301855

[kooky 2]

I'm curious how such a highly sought-after Queenstown flat would end up in the HDB ballot system instead of being sold on the open market? This is not a pre-MOP sale. I can only think of it being taken back by HDB.

Indeed. The previous owner was unable to pay the monthly housing repayment for a long time and hence, HDB re-possessed the unit.

Nevertheless getting a Queenstown flat *at* valuation is great, you should have a nice stash of cash with which to do up your flat very nicely now. Congratulations!

When we bought the unit in March, wouldn't have guessed it that the value will rise. We buy the flat purely for own stay; not even thinking of selling it anytime now or in the near future. Thank you

[potatoes 0]

When we bought the unit in March, wouldn't have guessed it that the value will rise. We buy the flat purely for own stay; not even thinking of selling it anytime now or in the near future. Thank you

Great buy direct from HDB. My friend also just got his EM from HDB too n his place is in HG. All the best for ur Reno

[adidaem 6]

I wouldn't have done it like this but the owner did take a lot of design risks on his EM to reduce the room count. But the outcome is quite unlike most EMs and frankly quite impressive to me:

http://www.propertyguru.com.sg/listing/hdb-for-sale-603-elias-road-11301855

Mmm, nice. Am not into the whole 'split the living room down the middle' concept, but quite refreshing.

[duhzzz 0]

Mmm, nice. Am not into the whole 'split the living room down the middle' concept, but quite refreshing.

Did I see wrongly? 300k for Reno?

[adidaem 6]

Did I see wrongly? 300k for Reno?

Oh ya hor. Didn't notice. Valuation 650, asking 925... so like 275k... I guess owners really want a record breaking COV.

[potatoes 0]

I wouldn't have done it like this but the owner did take a lot of design risks on his EM to reduce the room count. But the outcome is quite unlike most EMs and frankly quite impressive to me:

http://www.propertyg...s-road-11301855

Very impressive! The kitchen is super big after hacking the level 1 study room,

Love the staircase

[Exman 0]

When we bought the unit in March, wouldn't have guessed it that the value will rise. We buy the flat purely for own stay; not even thinking of selling it anytime now or in the near future. Thank you

Should the owner, owning rent to HDB that he could have easily market and fetch a tidy sum of monies to pay off to HDB but rather believe there is some illegality done that the reprocess to the EM was unavoidable...

[Exman 0]

Very impressive! The kitchen is super big after hacking the level 1 study room,

Love the staircase

Do agreed that hacking down to bring minimium walls do give the visual look of a large space but think a professional photography effect was carried out after renovations by the ID firm as to entice the luxury of the EM unit in their catalogues or reference mazagines....

Every photo if we noticed have the effect of looking longish rectangular in depth which normally in EM, the rooms are squarish..... They are also projected a very high ceiling effect....

[kooky 2]

It doesn't bother me so much what the previous owner has done as I did get this flat in a legal matter and this is far more important than anything else; at least to me and my spouse.

We had a brief chat with one of the neighbour and she said it was a re-possessed unit by HDB because the former owner was unable to pay back and the amount snow-balled. And this unit has been vacate for at least a year before it appeared in the SOBF system.

Should the owner, owning rent to HDB that he could have easily market and fetch a tidy sum of monies to pay off to HDB but rather believe there is some illegality done that the reprocess to the EM was unavoidable...

[/quote/]

Edited September 18, 2012 by kooky

[potatoes 0]

It doesn't bother me so much what the previous owner has done as I did get this flat in a legal matter and this is far more important than anything else; at least to me and my spouse.

We had a brief chat with one of the neighbour and she said it was a re-possessed unit by HDB because the former owner was unable to pay back and the amount snow-balled. And this unit has been vacate for at least a year before it appeared in the SOBF system.

[/quote/]

No issues on that. It's a hot topic now coz TV media is talking abt price of HDB flat at its peak. For an EM priced 1million in Queenstown n over 900k in Bishan, it is definitely worth the buy for u.

Congrats! At least u can spend a good sum on reno....Have a smooth reno

Edited September 18, 2012 by potatoes

[kooky 2]

Thanks Potatoes.

As the EM is rather old and HDB has restored it back to its original condition, there are lots of things we would like to change and we desire to have greater space (e.g. create more space and storage space) and a child-proof flat which will be safe for our +14 months old child.

I suppose the overall reno cost will not be cheap but now the problem we face is what kind of layout/design to select as it seems like there are some bits and pieces that we had gathered from various reno magazines which we like those furniture and layout ideas - tough decision.

[potatoes 0]

Thanks Potatoes.

As the EM is rather old and HDB has restored it back to its original condition, there are lots of things we would like to change and we desire to have greater space (e.g. create more space and storage space) and a child-proof flat which will be safe for our +14 months old child.

I suppose the overall reno cost will not be cheap but now the problem we face is what kind of layout/design to select as it seems like there are some bits and pieces that we had gathered from various reno magazines which we like those furniture and layout ideas - tough decision.

Great to know that HDB restore ur EM to it's original state. While it is good to get ideas from various home n decor mag, I find most of the design custom made n costly. It will not help me if I have a small budget. I rather go for practicality n make make EM functional. For a budget of abt 40k, I was still able to do a complete overhaul.... I m still happy with my simple reno

[spikedoll 2]

During my house hunting recently, I noticed a lot are asking sky high COV 80-200k.. Yes a gen2 EM in taman Jurong asking 200k above Val!!!! My jaws almost dropped to the ground.

According to agent.. These seller agents trying their luck to have private downgrades with high cash to buy, especially with recent news on 1 mil EM. But again.. These EM units are in prime location or really done up nicely.

Quite disappointing that agents now even screen if you are rich private downgraders with cash if not they don't even want entertain you much. As a sincere buyer, hopes of finding my dream EM seem to be zzzzzzzzz..

Sorry for the ranting... Any EM owners care to share the COV u paid , year you bought and location? Thanks