Mansionette Owner

[chronograph 0]

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?

I think lawyer fee around 2k. I'm taking the loan from UOB @ 3.08% with a locked down period of 2 years. I'm in the safe zone, will not hit my AWHL even with 15 years loan but i prefer to finish my loan earlier.

HDB with private loan is @ 120% for AWHL.

[tatlee 0]

was just reading the posts. just want to add my comments.

get a fixed rate loan. not floating. but small loan size, dunno banks got offer fixed rate loan.

it is correct to keep some CPF in balance in case lose jobs due to recession, illness or accident.

if not, lose job means lose house.

IF you know how to invest in shares or funds, probably it is better to invest your money. better returns

at high risks. But if you know what u doing, then can mitigate risks.

paying off loan ASAP not a great idea. since u would lock your assets in the house, cannot get it out unless you sell. If it is HDB loan, 2.6% p.a. is easy to beat. Besides, HDB cannot be remortgaged, meaning get a loan from fully paid flat.

Should strike a balance between loan repayment and retirement planning. However, if you clueless on investment AND dont want to learn, just pay off the HDB loan.

[hello88 2]

paying off loan ASAP not a great idea. since u would lock your assets in the house, cannot get it out unless you sell. If it is HDB loan, 2.6% p.a. is easy to beat. Besides, HDB cannot be remortgaged, meaning get a loan from fully paid flat.

Should strike a balance between loan repayment and retirement planning. However, if you clueless on investment AND dont want to learn, just pay off the HDB loan.

ya, i read from an article about paying off HDB housing loan and the financial adviser also stated that its actually not a good idea to settle your HDB loan (2.6%) earlier (eg. u too 20yrs and 10 yrs down the road u pay it off) unless u decide to sell it after paying off as u wont benefit much since its merely 1% over your CPF interest rate. Anyway, most people logically would want to pay it off if they have sufficient funds while 'lazy' ones would forget about the whole loan and let it continue deducting.

actually its also not a bad idea to downgrade to either 4 or 5 room, years later to make a profit from your EM as the S & CC also cheaper as compared to exec flats.

[Jessie 0]

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?

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.

hi hi

ya, but we dun like Lor Ah Soo area lor.

Think will still stick to HG area near where my current EM is located.

yeap, 2 boys,....age 3 & 1,....notti,....always fight and argue....but so cute and fun to have them making all the noises....hehe

[MaCe 3]

hi hi

ya, but we dun like Lor Ah Soo area lor.

Think will still stick to HG area near where my current EM is located.

yeap, 2 boys,....age 3 & 1,....notti,....always fight and argue....but so cute and fun to have them making all the noises....hehe

lor ah soo might be too quiet for others - but for us - we love the quietness.

[hello88 2]

hi hi

ya, but we dun like Lor Ah Soo area lor.

Think will still stick to HG area near where my current EM is located.

yeap, 2 boys,....age 3 & 1,....notti,....always fight and argue....but so cute and fun to have them making all the noises....hehe

heee.....later Mace angry that we commented on his area (Lor Ah Soo)...hahaha. I also still prefer staying nearer to Hougang Mall area. Dont really like further away like in Hougang Ave 9 as our sides still walking distance to MRT. Furthermore, those newer flats no rubbish chute. Just a personal preference so no offences to anyone.

wow, at these age, super active....fighting still ok la....wait till they get older....would fight and argue more. My flat got no peace!!!!!!

[Jessie 0]

hi MaCe...

ya, i agree that your area is more of the quiet surrounding.....

maybe i am used to stay near mrt, markets, etc etc...thus i am used to the buzzling and noise...

hi hello88

henor, i also think with a rubbish chute in the hse is much convenient lor....especially i hv young kids,.....sometimes like now, when my maid need to throw rubbish and she still need to lug my younger son along to go out to throw cos cannot leave my son alone at home mah.

that's why i also think it's much convenient lor.

[hello88 2]

hi hello88

henor, i also think with a rubbish chute in the hse is much convenient lor....especially i hv young kids,.....sometimes like now, when my maid need to throw rubbish and she still need to lug my younger son along to go out to throw cos cannot leave my son alone at home mah.

that's why i also think it's much convenient lor.

ya ....cant imagine having to walk to the shared rubbish chute whenever my girl poo poo and not forgetting the smelly trash bags after doing up the prawns and fishes after marketing. Plus the openspace carpark which is so much cheaper.

anyway, i've seen some SK residents placing big dustbins outside their unit and clearing it only when its full at the end of the day so not a bad idea.

[Jessie 0]

ya ....cant imagine having to walk to the shared rubbish chute whenever my girl poo poo and not forgetting the smelly trash bags after doing up the prawns and fishes after marketing. Plus the openspace carpark which is so much cheaper.

anyway, i've seen some SK residents placing big dustbins outside their unit and clearing it only when its full at the end of the day so not a bad idea.

ya lor......the prawns and fishes,....stink if left in the bins in kitchen after *settled* them!

bingo! open car park is much cheaper then multi-storey......*save $ in a way also*

and the best part is,....we can see the car from our unit.......simple.

no need to always hv to ask my hb which level he parked,....then go and find the car......for this open car park, i can see where is the car just 1 glance lor.

[Jessie 0]

ask u all hor

what is the current resale market for EM?

is the price pretty much the same or has went up slight?

what do you all think of the market for EM in 4yrs time?

[hello88 2]

ask u all hor

what is the current resale market for EM?

is the price pretty much the same or has went up slight?

what do you all think of the market for EM in 4yrs time?

not too sure but I think the price of HDB resale flats have more or less stablised now...with the average asking COV to be around 20-40k.

its really difficult to predict what would become of EM market in 4yrs time. U planning to sell and downgrade? But no more HDB concessionary loan leh.....that's the situation that i'm in right now. I got my EM at 310k in 2005. Now my side selling avg. 440-450k....I think I should be able to sell around there or much more since moved in condition as I overhauled the entire house except 1% (staircase railings)...but the turnoff is having to pay 5% cash if I get the next property and also not forgetting the bank loan (though I dont think I need to loan much).

when I bought my 1st flat (4-room), all EMs really going for min. 450k with some in my current block asking for 500k. We didnt want to be tied down with high monthly HDB loan so settled for a 4-room and took 50k stay near parents grant. Anyway, I sold my 4-room flat at a loss (paper lost)....sell low for my 4-room flat and buy low for my current EM.

Edited June 20, 2008 by hello88

[Jessie 0]

not too sure but I think the price of HDB resale flats have more or less stablised now...with the average asking COV to be around 20-40k.

its really difficult to predict what would become of EM market in 4yrs time. U planning to sell and downgrade? But no more HDB concessionary loan leh.....that's the situation that i'm in right now. I got my EM at 310k in 2005. Now my side selling avg. 440-450k....I think I should be able to sell around there or much more since moved in condition as I overhauled the entire house except 1% (staircase railings)...but the turnoff is having to pay 5% cash if I get the next property and also not forgetting the bank loan (though I dont think I need to loan much).

when I bought my 1st flat (4-room), all EMs really going for min. 450k with some in my current block asking for 500k. We didnt want to be tied down with high monthly HDB loan so settled for a 4-room and took 50k stay near parents grant. Anyway, I sold my 4-room flat at a loss (paper lost)....sell low for my 4-room flat and buy low for my current EM.

ya, i plan to sell and downgrade to 5rm in abt 4yrs time...

will not be taking any loan at all lor.....it will be fully paid mah....so, i'm not so worried abt the bank loan stuffs.

as for the 5% by cash.....let's say, 5rm resale is at ard 350k...thus the 5% is 17.5k (this is ok lah).

we just hope to be able to maximise our chance of getting profits lor.

i sold my 5rm for 400k and bog this EM at 355k,.....and i actually target to sell at ard 450k....then downgrade back to 5rm.......and will probably stay put at the next hse for at least next 5yrs lah.

now my EM monthly loan payment is infact lower then my 5rm. i used to pay $1150 for my 5rm (20yrs). now i pay $1070 for my EM (15yrs).

must plan ahead mah.

Edited June 20, 2008 by Jessie

[hello88 2]

ya, i plan to sell and downgrade to 5rm in abt 4yrs time...

will not be taking any loan at all lor.....it will be fully paid mah....so, i'm not so worried abt the bank loan stuffs.

as for the 5% by cash.....let's say, 5rm resale is at ard 350k...thus the 5% is 17.5k (this is ok lah).

we just hope to be able to maximise our chance of getting profits lor.

i sold my 5rm for 400k and bog this EM at 355k,.....and i actually target to sell at ard 450k....then downgrade back to 5rm.......and will probably stay put at the next hse for at least next 5yrs lah.

now my EM monthly loan payment is infact lower then my 5rm. i used to pay $1150 for my 5rm (20yrs). now i pay $1070 for my EM (15yrs).

must plan ahead mah.

yup,we must always plan ahead. But the resale market very unpredictable leh. A year before I got my EM, a neighbour got his for 420k in the same block so he's stuck with it now as he wont make any profit if he sells it after factoring the interest paid plus the renovation cost. I also find the valuation market very unpredictable. Mine was in a terrible condition but valued for 340k. 6 months later my neighbour decided to sell their EM and it was valued at a mere 315k but theirs was renovated just 2 years ago and in very moved in condition. Life is so unpredictable so everything seems unpredictable.

[666 0]

Wah..tink mine siao liao..i bought 450k excluding COV. After grant $40k, loan around $410k, minus CPF etc...loan around $300k for 20years.

mine will never profit, break even maybe...but seriusli short & middle term i dun intend to move out of the place..hope my wife have the same idea tooo..hehe.

[Jessie 0]

yup,we must always plan ahead. But the resale market very unpredictable leh. A year before I got my EM, a neighbour got his for 420k in the same block so he's stuck with it now as he wont make any profit if he sells it after factoring the interest paid plus the renovation cost. I also find the valuation market very unpredictable. Mine was in a terrible condition but valued for 340k. 6 months later my neighbour decided to sell their EM and it was valued at a mere 315k but theirs was renovated just 2 years ago and in very moved in condition. Life is so unpredictable so everything seems unpredictable.

ya lor....we can never able to predict the future.

but lookng at the current market, i think we are still quite safe.

wah seh......your neighbour EM so low valued ah????

i think 450k for EM is still very reasonable and affordable lor.

who knows, maybe after i sell my EM,....then i move to another EM in HG also,.....possible leh.

hahahaha :D