Is It Worth To Buy 99Yrs Cluster Houses?

[heynsl 1]

Hi,

due to expanded family size i had decided to upgrade from my current 3-room condo.

i am looking at a 99yrs cluster house which is more than 15yrs old (remaining lease of about 80yrs).

the condition is ok, just need a little renovation and can move in.

as this is my first time looking at cluster house, can anyone advise me on whether this is a good buy apart from the normal landed terrance house which is too exp and also require major renovation.

[Yika 0]

Becareful of the smaller cluster houses with pools. The monthly maintance can be quite high compared to condos.

I personally wouldn't consider it but everyone situation differ. If you can afford it and fits your purpose then go ahead.

[Yika 0]

80 years left on a 99 lease. Sounds like the next round (estimated every 5 yrs) of exterior painting is coming (another lump sum out of the pocket if the sinking fund is not enough)

[Lauer 15]

Hi,

due to expanded family size i had decided to upgrade from my current 3-room condo.

i am looking at a 99yrs cluster house which is more than 15yrs old (remaining lease of about 80yrs).

the condition is ok, just need a little renovation and can move in.

as this is my first time looking at cluster house, can anyone advise me on whether this is a good buy apart from the normal landed terrance house which is too exp and also require major renovation.

It depends on one's utility value.

The short answers are:

- If you look at a cluster house as a landed, then the answer is no.

- If you look at it as a grounded condo, then the answer is maybe?

Of course you should know that a cluster house is a strata unit, and all strata units are based on $psf of built-in until a couple of years ago. Now it is $psf of built-up (an invention of marketers). Whereas la landed is based on $psf of the land plot area.

Just my 2-cents view.

Cheers!

[heynsl 1]

hmm... thanks for all your advice.

this made me to reconsider again...

the cost for maintenance is pretty high at $380/mth... not sure if the sinking fund is sufficent for the major upgrading or painting... will have to check again.

[GMC 12]

why not go for a 99yr Inter-terrace, some are selling for 1.4-1.5mil. pretty decent price.

u only have 2 facade wall and a roof to worry about, other than that, the rest are interior.

rooms for landed house tends to be bigger than cluster.

[heynsl 1]

location is a very impt concern for me as my kids will be going to Anderson Primary School as well my wife wants somewhere near to market.

[Yika 0]

location is a very impt concern for me as my kids will be going to Anderson Primary School as well my wife wants somewhere near to market.

If the location suits your family and is purely looking for a place over your head then it should be alright.

Gotta think twice if you plan to resell.

[heynsl 1]

If the location suits your family and is purely looking for a place over your head then it should be alright.

Gotta think twice if you plan to resell.

yup...

planning to stay for at least 20yrs and then sell off...

by that time will still have about 60yrs left.

hope the pricing will still be almost the same...

[tomasulu 2]

I think a 60 yo cluster house won't be an easy sell. And even if it's you won't realize much cap gain on this purchase 20 years later.

I'd go with a fh terrace.

[Kyliechua 0]

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Edited June 12, 2015 by Kyliechua

[Kyliechua 0]

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