Advice Please

[purple 0]

Hello all,

Planning to buy 4 room resale HDB flat.First time buyer.Area preferred is hougang.Want renovated

unit on a high floor ,unblocked and less than atleast 10 yrs old.How much should be total budget and how much cash over valuation required for such units?

Also confused over models 4A,4A1,4A2,4NG,4S,4I.

Are property prices coming down?Friend circles say it wil come down soon by september.

Seriously want to purchase.

Please advise.

Thanks in advance

[vincelee 0]

Hi Purple,

For now current market, low fl original already asking 20k+ cov.

You must have at least 30k cash. total around 260k budget.

around buangkok area have younger flat n most r renovated.

IMHO next mth is not quite possible. not in the short term.

Regards

Vince

Hello all,

Planning to buy 4 room resale HDB flat.First time buyer.Area preferred is hougang.Want renovated

unit on a high floor ,unblocked and less than atleast 10 yrs old.How much should be total budget and how much cash over valuation required for such units?

Also confused over models 4A,4A1,4A2,4NG,4S,4I.

Are property prices coming down?Friend circles say it wil come down soon by september.

Seriously want to purchase.

Please advise.

Thanks in advance

[purple 0]

Hi Vincelee,

Thanks a lot for the kind reply.Is Buangkok Cres somewhere in Hougang?

Bec my colleague saying she saw a few flats there. Some high floor,some mid but renovated and young too.But valuation itself 240+ and cash part again 30 or 30+.She and hubby searching since last 2 months didnt find a suitable one.

If the prices are not coming down not so fast ,i think we need to buy.We cant wait so long..

Total 260 budget can be fitted .But cash 30 too much.How abt midfloor if we consider?

[zirhk3355 1]

Buangkok you really don't know?? Hehe...maybe you should ask around where is Buangkok chalets and they will give you the directions...

Okok kidding ahh...

[janskar123 0]

As you are a first time home buyer, my advice is to consult a real estate broker as they know more about the property values and the fluctuations in the property market.

http://www.zimbio.com/Property+Market/arti...Property+Market

[waileong 0]

Who in this world can predict the direction of property prices before they become obvious?

In my view, only the govt can do it, as they can control the market through their policies.

[raincole 0]

All the information can be found in HDB website too, just need to do lots of homework to know the market value. Who knows, you may find one seller who dunno market and sell it at a very good price.

[totomaster 0]

Newbie here. Need advice if allowed to use contractor that is not HDB Registered. I want to consider this contractor but his name is not in HDB Registered Contractor. Any legal problem engaging this contractor?

[waileong 0]

Do a search in this forum. Many past discussions.

[totomaster 0]

I called HDB regarding this matter. I was told that if the renovation work is just pure carpentry and no hacking or other work that needs HDB permit. I can use contractor even if they are not registered with HDB. They just adviced me to make sure that company is under ACRA. The contractor that I want to engage concentrate on condo works and I intend to sign up with them. Luckily all of the renovation in my unit are mostly carpentry work.

[zirhk3355 1]

I called HDB regarding this matter. I was told that if the renovation work is just pure carpentry and no hacking or other work that needs HDB permit. I can use contractor even if they are not registered with HDB. They just adviced me to make sure that company is under ACRA. The contractor that I want to engage concentrate on condo works and I intend to sign up with them. Luckily all of the renovation in my unit are mostly carpentry work.

I hope you have more reasons to trust this contractor (eg got reliable referees, its your relatives' company, etc), rather than just trusting that "he concentrate on condos thus do not have HDB permit", because this excuse is used by many rogue contractors after their licences had been revoked.

Its a fact that more than 80% of the population in Singapore stays in HDB flats; how many contractors can afford not to venture into this market? Please be careful and do more research before you sign up...

If he is really so influential in the private properties' renovation that he could afford to ignore HDB projects and not have a HDB licence, why did he take up YOUR project?? Think about it...