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Thread: Suggestions Please

  1. #1
    Join Date
    Nov 2008
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    103

    Default Suggestions Please

    Hi Gurus,

    Looking at the following requirements and was wondering if you guys care to provide some suggestions as to which project might be worthwhile considering

    - For owner occupation
    - D03, D04, D05, D21
    - S$800,000 to S$900,000 (Max)
    - Freehold
    - Minimum 3 rooms (3+1, 4, 4+1 also ok lah ... but at this price ... don't think can dream lah)
    - Near current or future MRT will be a definite plus

    Thank you

  2. #2
    Join Date
    Feb 2009
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    5,837

    Default

    Quote Originally Posted by x11
    Hi Gurus,

    Looking at the following requirements and was wondering if you guys care to provide some suggestions as to which project might be worthwhile considering

    - For owner occupation
    - D03, D04, D05, D21
    - S$800,000 to S$900,000 (Max)
    - Freehold
    - Minimum 3 rooms (3+1, 4, 4+1 also ok lah ... but at this price ... don't think can dream lah)
    - Near current or future MRT will be a definite plus

    Thank you
    check out Clementi park, Freesia ..D21 (no mrt nearby though)

  3. #3
    Join Date
    Nov 2008
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    103

    Default

    Quote Originally Posted by proud owner
    check out Clementi park, Freesia ..D21 (no mrt nearby though)
    Thank you Proud Owner ... will check them out ...

    Any more suggestions?

  4. #4
    Join Date
    May 2008
    Posts
    217

    Default why these districts

    any particular reasons why you want to stay in these districts?

  5. #5
    Join Date
    Nov 2008
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    103

    Default

    Quote Originally Posted by tericia
    any particular reasons why you want to stay in these districts?
    D5 - i grew up here ... extended family still staying in the area
    D3 - nice area just outside of "prime" district
    D21 - near "good" schools

    and i guess most importantly, these districts would fit my budget of S$800,000 to S$900,000 (Max) for a 3RM?

  6. #6
    Join Date
    May 2008
    Posts
    217

    Default buy what you are familiar with

    i would recommend you buying where you are familiar with in order to minimise surprises. District 5 is a good area to buy either for rent or stay, esp around dover close east area. the expat (japanese or otherwise) makes the rental potential at dover park view and heritage view ok and you won't be worried when you move onto another property later in your life. if i'm not wrong, you should be able to get a 3 room in either condo for your budget but i would need to double check that again. anyway i used to stay at block 12 dover close east so i have a particular fondness for that area.

  7. #7
    Join Date
    Jun 2008
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    1,569

    Default

    What's happening in Pasir Ris?
    Seems like a lot of landed owner near Pasir Ris Park selling their properties..

  8. #8
    Join Date
    Nov 2008
    Posts
    103

    Default

    now wife is telling me that she's more keen on D5
    so staring down the barrel at some of these ... tenture and year

    ALESSANDREA...FH...2004
    BANYAN...FH...1997
    BAYVILLECONDO...FH...1996
    CRYSTALHEIGHTS...FH...2010
    MENDONSPRING...FH...2002
    MURANO...FH...2008
    THECASSANDRA...FH...2006
    THEFOLIAGE...FH...2008
    THEINFINITI...FH...2009
    THEPARC...FH...2011
    THESTELLAR...FH...2008

    probably adding these 2 to the mix for consideration as well

    CARABELLE...L999...2011
    MONTEREYPARK...L999...2007

    appreciate any comments and viewpoints. thank you.

    *sigh* house hunting is such a tough job ....

  9. #9
    Join Date
    May 2008
    Posts
    217

    Default choices listed not really ideal

    when i was moving out of dover close last year, i also saw most of the project you listed (except those not launched yet), including projects like varsity park (whey they were launched). My personal view is most of these projects aren't near mrt + though many agents will advise you that living near NUS will have good rental potential, i personally and my clients have bad experience renting to students. They usually bargain the rent + they don't think twice about trashing the place. Unless you intend to stay for long (20 years or more), you need to consider if you need to rent or sell when you move onto a bigger unit.

    Projects on the Foliage side may have japanese clients for rental as long as the japanese school nearby doesn't move away. The only issue you have to consider and calculate is what is the probability a japanese family will rent units at projects like Foliage where the size of the unit isn't what they usually look for when they have a family.

    District 5's advantage is, it is near district 9 & 10. However, the parts of district 5 which are near town are the parts nearer to Buona Vista mrt. I would suggest you look around there instead if this condo you are buying isn't the last one.

    Usually projects near highway like infinity are very tough to sell as buyers try to avoid the dust and noise unless they have a compelling reason to stay at these places.

  10. #10
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    Nov 2008
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    103

    Default

    hi tericia - thank you for your posts and your comments. personally, i am not comfortable with infinity, too near expressway for my liking. probably something like carabelle would be better.

    yes, i do agree that most on my list aren't really near a MRT - that's an area of concern as well - budget and space requirement plus district - alot of restrictions to work around and yesterday never touch toto ... so i guess its really a toss up now.

    i think this next place we should stay for about 10 years at least. kids just started primary school and too much shifting is not good for them.

    near mrt (not too near, 10 min walk ok)
    near expressway (not too near, else will hear the vrooommm vrooomm)
    freehold or L999 (L99 got time decay issue)
    3RM or more (smaller cannot do cha-cha with partner at home )
    less than $900K ($800K more comfortable, never touch toto last night)
    D5 (D3 also can but at present i think too expensive lah)
    ......... difficult to ask for something like this?

    <headache>

  11. #11
    Join Date
    May 2008
    Posts
    217

    Default check ura website

    i just checked the ura website and saw units which are about 3 bedroom size, around your budget, both at district 3 and 5. So i advise you check out the website first

    http://www.ura.gov.sg/realEstateWeb/...Controller.jpf

    and narrow down based on pricing what are the projects that you would like to buy. I know the part about property that is tiring is the calling agent and looking. You need to find the right agent first, then that agent who is on the same page as you will show you the right property.

    If you are in a hurry then you can just mass sms all agents advertising those property you like and as an agent, i'm sure these people you sms will be more than willing to serve you.

    Your wife will be the one that balances out your likes and dislikes when you see a property. Usually, when i like a place, my wife doesn't and vice versa. So when we both settle on one that we like, the place is usually terrific for us.

    I also suggest you sit and work out your priorities. The better the planning, the better the find, especially when you see a good find. The places that you regret not getting later usually are the rare gems that appear out of nowhere and before you can say "offer", it is sold already.

    The factors that you state you would like to have (near mrt, away from highway, etc) shows the "toughness" of your search so you have to be honest whether you want to get a good place with some amount of hard work or you are basically just comfortable where you are now and these are just wishes. Most times i find prospects aren't really serious about buying or property investing so i tell them i'm fine with it as long as both parties understand that they are just "shopping" around to see if miraculous deals appear.

    Whether it is freehold or leasehold really depends on your preference and priorities. I personally prefer leasehold because after a while all condos start to look old so why pay so much for a freehold. However, it is also true that not all leasehold projects give good rental yield. This boils down to the maintenance of the project and these are some of the things you need to evaluate for yourself if the project is well maintained enough to give good rental in the long run.

    Sometimes when you buy a place that has en bloc potential, the issue you need to decide is if they run the place down to ruins, is the location really that valuable that the en bloc is almost 100% certain. If not, a run down project with little en bloc potential also has little individual potential (when you want to sell your place individually) and even if they are cheap, you may have a lemon on your hands.

    Both district 5 and district 3 to me are ok to stay or rent out. However, property is a topic which i personally feel very specialised knowledge is needed to decrease the chances of you having regrets because of the sum required when you buy (800- 900k in your case). As you and your family are familiar with district 5, i still suggest you buy the area that you are familiar with especially if this is your first condo after having a hdb. Even if you end up in projects like west bay (which many feedback is a terrible project but i totally disagree) in district 5, because you are familiar with the area and know the quirks, you will have a better feel of how you like staying in the project or not. If you and your family are happy there, who's to say?

  12. #12
    Join Date
    Nov 2008
    Posts
    103

    Default

    hi tericia,

    thank you for a wonderful post. i read it twice just to make sure that i understood everything. its people like you and posts like this that make the forums such a good tool for learning, educating and exchanging of views. of course, there are also the non-sensical posts that the forum administrator need to weed out but if a forum is to grow, its because there are members whom are willing to spend time to time in replies and to educate the others. kudos for a wonderful post again.

    yes - this will be our first condo purchase after hdb. we got married and got our own hdb place as this was the only thing that we could afford at that time. our parents have their own little landed places in D5 and we both feel that landed properties are not for us at this point and our kids would really love the facilities provided by condo living - swimming pools, bbq, playground, basketball courts etc. they are the main driving force to upgrade at this point.

    we are both familiar with D5 and hence the consideration for a place here. the projects that we shortlisted are just tentative. we are looking around seriously but to what extend we will land ourselves our dream place will depend on what kind of priorities we place. it seems to be that our budget is workable i.e. possible projects within our purchasing abilities - and that's a huge relief.

    freehold, 999 or 99 ... my other half is less concerned about this as she feels that so long as the project catches her eye and the unit concerned is within her purchase parameters, it doesn't matter whether its a leasehold or freehold. for me, freehold or 999 is prefered. why? i guess i plan a little longer and the 99 ones tend to have a time decay issue tagged with them. look at the older projects that are 99 - they are usually slightly cheaper. it doesn't help that banks and cpf board have a clause in which they treat units with less than 60 years on their lease slightly different as well. so if we were to purchase a 99 now, then perhaps by the time we get old and want to resell this 99 condo for some cash and downgrade a hdb studio, the time decay would have caught up and leave us with less $$$? so at present, its freehold or 999

    the next question that comes to mind is actually not the location - but rather the question of do we purchase a completed unit or an uncompleted unit or a resale unit i.e. someone already stayed there ..... this is a question because we have yet to sell our hdb and will probably need to time it such that we don't have to spend time on the streets without a roof over our heads. wife will probably say don't purchase a resale nit since we don't know what they have done to the place. a completed unit that is new or a uncompleted unit would definitely be preferred.

    see, as i type, the conditions and considerations get sorted out on its own. so far, we have

    - D5
    - freehold or 999
    - uncompleted or completed but new unit
    - S$800 to S$900K
    - 3 or 4RM

    which comes to point - what do you guys think? should we sell hdb first and then look for a place or find a place first then sell hdb? timing is also a headache. any suggestions?

    bridging loan is at present not an issue since the banks seem quite willing to deal with us - which was really a surprise to us. perhaps in their eyes, we are in better finanicial situation that we think we are in. approval-in-principle given and also bridging loan. whoa. i was really impressed. thought that the banks would deny us the opportunity to owe a private place but they seem to think otherwise. so its good for us. but now, the headache begins.

  13. #13
    Join Date
    May 2008
    Posts
    217

    Default

    the situation with the banks is made out to be worse that it probably is. i thought i could not borrow any more money as well. Imagine my surprise when i was told by a banker at Mercury launch that i can borrow some more.

    i would encourage clients to buy a resale that is run down for a few reasons:
    1) you are paying a depressed price because of the condition
    2) i have a contractor who is cheap and good (i know, hard to believe but it's true)
    3) if i were to buy any place, i want to do it to my specifications. Over time if you continue to buy, sell and rent, you would also learn how to balance personal taste and making the place more saleable and rentable
    4) if the place is just fully renovated when you move in, it will be much easier to rent or sell, later in 5 years or more when you move on. Good tenants don't like "hand me downs".

    my first issue with new projects, especially projects that just TOP, is you will buy the unit at the highest point. What i mean is either you buy when it is launched to get a developer's discount, or when the place is old so the depreciation has settled in quite nicely. Projects which just TOP are the highest priced point in commensuration with the rest of the market. With that i advise you to consider and re - discuss your new unit requirement with your wife again.

    The other issue i have about new projects is you park you cash in something that is only going to materialise sometime in the future. So it is locking your cash (a lot of cash most times) in the bank and "phantom property" when you can do better things with them: like buying a place that is already there.

    Today, the agent at Mercury very enthusiastically suggested that on top of the 20% i pay to the developer, why not put another 20% lien with the bank to earn 1+% interest, while the property gingers along for 5 years. I liked his misdirected investment know how but locking $300,000 for 5 years + he used the wrong way to calculate rent returns, he showed that Mercury was not what i was looking for.

    Settling the timing of selling and moving out only when your new place is ready for your HDB is not a problem. These can be worked into your deal and i can help you with the sale. You can call me at 97970647 or pm me.

    However, if you do not have the funds to buy the condo first, it is obvious you have to sell first. You should couple your decision with the current market trends: HDB is at the start of the slide while condos have slided and will continue to do so. To maximise your profit margin, it is advisable to sell first, then buy.

  14. #14
    Join Date
    Aug 2010
    Posts
    1

    Default Rental required in District 3

    Hi everyone, My wife and I are planning to move to Singapore in a couple of months. I'm hopefully starting work at the Alexandra Hospital. Can anyone suggest a good Condo near an MRT for a budget of $S3000 per month. Also it would help if you could suggest a place to stay for a couple of weeks until we can view. Having never been in Singapore before, we are pretty much in the dark Thanks and I look forward to your valued opinions.
    Last edited by weerio; 01-09-10 at 22:03. Reason: taking name off end of text

  15. #15
    Join Date
    Mar 2009
    Posts
    14

    Default

    Quote Originally Posted by weerio
    Hi everyone, My wife and I are planning to move to Singapore in a couple of months. I'm hopefully starting work at the Alexandra Hospital. Can anyone suggest a good Condo near an MRT for a budget of $S3000 per month. Also it would help if you could suggest a place to stay for a couple of weeks until we can view. Having never been in Singapore before, we are pretty much in the dark Thanks and I look forward to your valued opinions.

    The Anchorage is just opposite Alexandra Hospital.

    http://www.propertyguru.com.sg/proje...-anchorage-195

  16. #16
    Join Date
    Apr 2009
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    5,841

    Default

    block 12 is my mother's block, which level you used to stay?

    Quote Originally Posted by tericia
    i would recommend you buying where you are familiar with in order to minimise surprises. District 5 is a good area to buy either for rent or stay, esp around dover close east area. the expat (japanese or otherwise) makes the rental potential at dover park view and heritage view ok and you won't be worried when you move onto another property later in your life. if i'm not wrong, you should be able to get a 3 room in either condo for your budget but i would need to double check that again. anyway i used to stay at block 12 dover close east so i have a particular fondness for that area.

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