View Full Version : Should i forgo my booking fees in DBSS?
Hi there, need some advise here.
I have recently book for a DBSS unit in Yuan Ching.
Am thinking if i should cancel the booking and wait for the property market to soften in the next 1-2 yrs and get a PC instead.
Keeping in view that many condos and BTOs will TOP 2014, i will need to sell my current 3 room flat in Clementi, i may not be able to get a good price then.
Might as well, i forgo my booking fee, keep the 3 room flat, wait and get a PC.
And then rent out the 3 room flat.
phantom_opera
01-12-11, 12:56
Basic virus has infected DBSS buyers help .... :doh:
And if it doesn't soften enough to your expectation, you've used your first time applicant privilege with HDB.
Everyone is trying to leverage and arbitrage. :scared-5:
And if it doesn't soften enough to your expectation, you've used your first time applicant privilege with HDB.
Nope, not a first time applicant, so not losing anything.
The DBSS in lakeside cost $650k for 1163sqft. Surrounding 5br is prob ard 400-500k max. DBSS is afterall still HDB?
Everyone is trying to leverage and arbitrage. :scared-5:
Isnt that everyone's objective? :ashamed1:
thomastansb
01-12-11, 13:27
Technically yes. It is a HDB. After 5 years, we call it resale HDB.
Nope, not a first time applicant, so not losing anything.
The DBSS in lakeside cost $650k for 1163sqft. Surrounding 5br is prob ard 400-500k max. DBSS is afterall still HDB?
You've noticed that no one wants to give you a definite yes or no. Well, my take is for you to consider your financial muscle before deciding what's best. DBSS is definitely a high end HDB. My question to you is if you mentioned that you'll have to sell your current hdb low, wouldn't it also apply if you want to buy PC unless you have the financial capabilities to own two properties? :cool:
Go back to the reasons that prompted you to book a DBSS unit in the first place. Why did you decide to sign on the dotted line? Were you blinded by the sales pitch by ERA agents or was it due to the aura of the sales flat that won you over then and there? Are those reasons or personal objectives still valid now and do they matter to you still? Did you do a cost-benefit analysis between DBSS and EC flats? You betting on prices to fall in next 1-2yrs? Future property price movements are not a certainty - up or down or flat...
Hi there, need some advise here.
I have recently book for a DBSS unit in Yuan Ching.
Am thinking if i should cancel the booking and wait for the property market to soften in the next 1-2 yrs and get a PC instead.
Keeping in view that many condos and BTOs will TOP 2014, i will need to sell my current 3 room flat in Clementi, i may not be able to get a good price then.
Might as well, i forgo my booking fee, keep the 3 room flat, wait and get a PC.
And then rent out the 3 room flat.
In recession 3i and 4 rms in demand. Prices not dropping much
Hi there, need some advise here.
I have recently book for a DBSS unit in Yuan Ching.
Am thinking if i should cancel the booking and wait for the property market to soften in the next 1-2 yrs and get a PC instead.
Keeping in view that many condos and BTOs will TOP 2014, i will need to sell my current 3 room flat in Clementi, i may not be able to get a good price then.
Might as well, i forgo my booking fee, keep the 3 room flat, wait and get a PC.
And then rent out the 3 room flat.
Property market will soften in the 1-2 yrs ...it is a statement made seems that you are vry very sure it will happen...:D
proud owner
01-12-11, 13:40
i would cancel the booking
BUT becos Yuan Ching is a crap location
ikan bilis
01-12-11, 13:58
don;t mind... just curious...
- 3rm in clementi cost 400k if near mrt...
- already stay in clementi and why never go for clementi 4/5rm dbss but pick yuan chin instead....
- clementi dbss is near mrt, yuan chin dbss is not...
:D
You've noticed that no one wants to give you a definite yes or no. Well, my take is for you to consider your financial muscle before deciding what's best. DBSS is definitely a high end HDB. My question to you is if you mentioned that you'll have to sell your current hdb low, wouldn't it also apply if you want to buy PC unless you have the financial capabilities to own two properties? :cool:
Hmm cos if i buy PC i can keep the 3room flat till the market is better? Can choose to either rent out or sell?
don;t mind... just curious...
- 3rm in clementi cost 400k if near mrt...
- already stay in clementi and why never go for clementi 4/5rm dbss but pick yuan chin instead....
:D
Cos q no in clementi dbss is 29xx, super no chance..
Go back to the reasons that prompted you to book a DBSS unit in the first place. Why did you decide to sign on the dotted line? Were you blinded by the sales pitch by ERA agents or was it due to the aura of the sales flat that won you over then and there? Are those reasons or personal objectives still valid now and do they matter to you still? Did you do a cost-benefit analysis between DBSS and EC flats? You betting on prices to fall in next 1-2yrs? Future property price movements are not a certainty - up or down or flat...
Good advise, thanks!
current dbss are all bad buys imo.
i would cancel the booking
BUT becos Yuan Ching is a crap location
Kinda agree with u
ikan bilis
01-12-11, 14:03
LAKEPOINT CONDOMINIUM LAKEPOINT DRIVE Condominium 1 750,000 1,001 Strata 749 Oct-11
LAKEPOINT CONDOMINIUM LAKEPOINT DRIVE Condominium 1 735,000 915 Strata 803 Aug-11
i think this 1 near lakeside MRT.... 50% crash will be $375K for 1001sqft and $368K for 915sqft... :cheers4:
ikan bilis
01-12-11, 14:15
there is another big question... => what if private property never come down... keep cheong up or gone sideway for next 5-6 yrs... then lost the dbss... :scared-4:
( that's also why i believe is time for mr kbw to come out cm5 liow... too many people eyeing into private property... and yet everyone want to hold tight tight to old hdb after owning a pte condo... :D ... sorry for saying that arh!! paiseh...:ashamed1: )
i would cancel the booking
BUT becos Yuan Ching is a crap location
x2
to me there is no question.
No one can tell 100% whether property price will go up/down short term. Especially when plenty of liquidity but coupled with bad sentiment.
For own stay doesnt really matter if you look back many years down the road. Near MRT is a must... someday someone will tell you car is not for everyone, cannot afford you can take public transport.
LAKEPOINT CONDOMINIUM LAKEPOINT DRIVE Condominium 1 750,000 1,001 Strata 749 Oct-11
LAKEPOINT CONDOMINIUM LAKEPOINT DRIVE Condominium 1 735,000 915 Strata 803 Aug-11
i think this 1 near lakeside MRT.... 50% crash will be $375K for 1001sqft and $368K for 915sqft... :cheers4:
I am aiming for west coast condo like carabelle or infiniti to drop to 800-900k i very happy alrdy. No need 50% disc. But with new land sales at jln lempeng... And hundred trees that launched at 1000psf. Seems unlikely.
Agree on both your statements...but haven't we been already told car is not our birth-right on this tiny island?
Unfortunately, we have been slow in increasing capacity till now.
CCL, next DTL1/2/3 will help.
No one can tell 100% whether property price will go up/down short term. Especially when plenty of liquidity but coupled with bad sentiment.
For own stay doesnt really matter if you look back many years down the road. Near MRT is a must... someday someone will tell you car is not for everyone, cannot afford you can take public transport.
No one can tell 100% whether property price will go up/down short term. Especially when plenty of liquidity but coupled with bad sentiment.
For own stay doesnt really matter if you look back many years down the road. Near MRT is a must... someday someone will tell you car is not for everyone, cannot afford you can take public transport.
This dbss is v far from mrt, surrounding flat of equivalent size selling for 400-500k, does this make this dbss a v lousy buy in your opinion?
LAKEPOINT CONDOMINIUM LAKEPOINT DRIVE Condominium 1 750,000 1,001 Strata 749 Oct-11
LAKEPOINT CONDOMINIUM LAKEPOINT DRIVE Condominium 1 735,000 915 Strata 803 Aug-11
i think this 1 near lakeside MRT.... 50% crash will be $375K for 1001sqft and $368K for 915sqft... :cheers4:
this one almost 30 yrs old liao...
ikan bilis
01-12-11, 15:07
I am aiming for west coast condo like carabelle or infiniti to drop to 800-900k i very happy alrdy. No need 50% disc. But with new land sales at jln lempeng... And hundred trees that launched at 1000psf. Seems unlikely.
you staying in 3rm hdb, can have budget 800-900K for pc...
that means you could easily get a similar size 2br condo near mrt condo for own stay without problem... they should be plenty of 800-900K 2br pc, e.g. regent park/clementi... unless you eyeing for FH only...
so... dbss might not be a good choice for you... pc or ec could be better... or may be wait for 50% crash even better... :D
except you need to decide where to place your own bet... nobody know if price gonna crash or not.... :cheers4:
you staying in 3rm hdb, can have budget 800-900K for pc...
that means you could easily get a similar size 2br condo near mrt condo for own stay without problem... they should be plenty of 800-900K 2br pc, e.g. regent park/clementi... unless you eyeing for FH only...
so... dbss might not be a good choice for you... pc or ec could be better... or may be wait for 50% crash even better... :D
except you need to decide where to place your own bet... nobody know if price gonna crash or not.... :cheers4:
The 3rm hdb is parents', buying the dbss with them as i am not eligible yet for hdb. Currently sharing room with sibling, thought that if we were to move, preferably somewhere with 3 bedrooms. Clementi 3brm pc currently above 1 mil. Out of my budget. Trivelis dbss high q means its out too, so ended up with the yuan ching dbss.
ikan bilis
01-12-11, 15:34
The 3rm hdb is parents', buying the dbss with them as i am not eligible yet for hdb. Currently sharing room with sibling, thought that if we were to move, preferably somewhere with 3 bedrooms. Clementi 3brm pc currently above 1 mil. Out of my budget. Trivelis dbss high q means its out too, so ended up with the yuan ching dbss.
oh... got the picture now... now understand why you end up with dbss... looks nothing wrong... except got no luck to get a dbss with good location...
summerdale (quite far) still have 800K+ 12xxft 3bdr... 1 bus stop to lakeside/boonlay mrt.... that devil here should be able to give more better lobangs... but may be also got 400K 50% discount coming when crashed... :cheers4:
My objective is to make money. So i need to own at least 2 properties. Assuming you have the same objective, then you should not buy HDB since you already own one.
If Yuan Ching is $650k and takes 3~4 years to complete, plus MOP, that means you have lost about 9 years of potential investment in 2nd property? I will surely not buy HDB.
Another important point, are you expecting to sell Yuan Ching at a profit in future? How much? $900k? Possible? Who will buy? If it hits $900k, you also cannot sell until 10 years later. Moreover neighbouring $200k cheaper than your purchased price $650k, who will buy from you? I will use $200k to doll up my unit with luxuries than to buy a DBSS. Or use the money to buy a car or buy 6 diamond studded Birkins for my mistresses.
If you have budget of $650k, i recommend you buy PC. Maybe not Clementi area. I am sure Mass Mkt will soften and you would be able to find one PC within your budget. :2cents:
Trivelis dbss high q means its out too, so ended up with the yuan ching dbss.
I was at Trivelis. The agents kept pushing me to sign. She say "signing up is free. Eventually will have to go balloting." I told her off this is wrong and why should i sign up when i am not keen. If i sign up, i am only creating wrong signals and thus affecting other people's chance." She kept pushing and pushing. Then final straw, i saw i have PC liao. Can buy DBSS boh? She walked away immediately.
If you are single at after 35 years old, then buy another 3~4 bedroom HDB lah.
If you don't want to stay with your family and hope to buy a PC, then buy a 2bedder PC. Don't have to be a 3bedder unit right??
phantom_opera
01-12-11, 16:00
why not buy 1br or 1+S PC ... really cannot understand young people today, want cheap want big want prime want huat easily :rolleyes:
really cannot understand young people today, want cheap want big want prime want huat easily :rolleyes:
I am different. I want cheap, i want fresh, i want big fruits.
How about another way, i stick to this dbss. Then use the cash from the sale of the 3rm flat to buy a 2 bedder pc and rent out? But honestly i agree that the upside to this dbss is minimal, given me i wont buy the dbss if i m looking nearby, wld rather buy resale n reno. Sighz, such dilema.
1) buy dbss, loan as minimal as possible, quickly payup. Save on interest. Hope someone wont mind walking 20mins to MRT and buy the dbss from me at 800k?
2) buy dbss, loan to max, use money from 3rm flat sale for pc dwnpayment.
Rent out, use the money to cover pc installment.
3) forgo the booking which is abt 8k loss, continue staying in flat, pray hard tht pte property prices go dwn, i can buy a 3 bedder pc for about 900k, whole family stays there, flat rent out.
phantom_opera
01-12-11, 16:21
I thought Palette 3br not so good facing / low floor around 900k, or 2+S about 800k also can be used as 3 bedrooms? Again, you will want to stay at Clementi .. Pasir Ris too ulu?
Just pay the 8k as a lesson lo ... what is 8k to a person who wants to buy 900k condo?? Sometimes a single trade in stock market loss 8k liao :beats-me-man:
How about another way, i stick to this dbss. Then use the cash from the sale of the 3rm flat to buy a 2 bedder pc and rent out?
1) buy dbss, loan as minimal as possible, quickly payup. Save on interest. Hope someone wont mind walking 20mins to MRT and buy the dbss from me at 800k?
2) buy dbss, loan to max, use money from 3rm flat sale for pc dwnpayment.
Rent out, use the money to cover pc installment.
3yrs + 5 yrs MOP, u got 8 yrs to decide.
btw did u include ur name in ur dbss or just ur parents names?
I thought Palette 3br not so good facing / low floor around 900k, or 2+S about 800k also can be used as 3 bedrooms? Again, you will want to stay at Clementi .. Pasir Ris too ulu?
Just pay the 8k as a lesson lo ... what is 8k to a person who wants to buy 900k condo?? Sometimes a single trade in stock market loss 8k liao :beats-me-man:
Agree. Should have used the 8K to arrange a property discussion over dinner. I only want Shark's fin if it's alright.
3yrs + 5 yrs MOP, u got 8 yrs to decide.
btw did u include ur name in ur dbss or just ur parents names?
But i need to decide if i want to cancel the booking before the S&P comes my way in a mth's time.
The dbss is under mine and parents names.
Agree. Should have used the 8K to arrange a property discussion over dinner. I only want Shark's fin if it's alright.
Dun like tht la, alrdy v kan cheong nw, potentially gonna lose 8k, very heartpain. Now come forum for free advise. Really dunno what i should do.
devilplate
01-12-11, 16:39
Crap dbss at 650k!!!
Omg!!! I rather u buy a crappy EC
Pls go shop shop around those oredi launched EC and den u will realised u had severely overpaid this crap dbss! Hehehe
DBSS is a HDB flat. So buy liao cannot buy another property before MOP (5yrs after TOP) right? Looking at your reasonings, you would be better off taking the $8K as tuition fees for lesson on property investment and go plan/save up for a proper upgrade to your dream home lah. There are many ways to skin a cat!
How about another way, i stick to this dbss. Then use the cash from the sale of the 3rm flat to buy a 2 bedder pc and rent out? But honestly i agree that the upside to this dbss is minimal, given me i wont buy the dbss if i m looking nearby, wld rather buy resale n reno. Sighz, such dilema.
1) buy dbss, loan as minimal as possible, quickly payup. Save on interest. Hope someone wont mind walking 20mins to MRT and buy the dbss from me at 800k?
2) buy dbss, loan to max, use money from 3rm flat sale for pc dwnpayment.
Rent out, use the money to cover pc installment.
3) forgo the booking which is abt 8k loss, continue staying in flat, pray hard tht pte property prices go dwn, i can buy a 3 bedder pc for about 900k, whole family stays there, flat rent out.
ikan bilis
01-12-11, 16:44
got a separate questions..
anybody knows or could guess why mnd wanna build dbss at yuan ching "that location" ??... they plan to pull an mrt line to that location after lakeside fully developed or what ??...
ec there may be ok, but why dbss ??...
:confused:
devilplate
01-12-11, 16:46
got a separate questions..
anybody knows or could guess why mnd wanna build dbss at yuan ching "that location" ??... they plan to pull an mrt line to that location after lakeside fully developed or what ??...
:confused:
U tink too much....
The developer kena conned to bid high high and den trying to con and offload to buyers now....as simple as tat
Whahahaha
But i need to decide if i want to cancel the booking before the S&P comes my way in a mth's time.
The dbss is under mine and parents names.
before ur S&P comes, go visit Blossom & check out the price difference. If stuck with MOP then better stuck with an EC then DBSS. The upside should better, the next buyer for DBSS will think likewise. Happy shopping.:)
Crap dbss at 650k!!!
Omg!!! I rather u buy a crappy EC
Pls go shop shop around those oredi launched EC and den u will realised u had severely overpaid this crap dbss! Hehehe
Went to view blossom residence, ec at bt panjang. The parents not comfortable with bt panjang.
Then dont want live in the east, so i left this dbss they are comfortable with.
On a sidenote, will the JLD plan help boost the value of this dbss? Or even so, compared to surrounding resale, i will still lose out?
Or do i wait for cck ec? I read from irenekng ec vs pc thread and thought, if i buy cck ec, might as well buy pc, can keep this hdb.
Hi all, pls keep all comments coming in, would invite my dad to read this thread.
Really appreciate everyone's comments here! :cheers4:
ikan bilis
01-12-11, 16:58
Went to view blossom residence, ec at bt panjang. The parents not comfortable with bt panjang.
Then dont want live in the east, so i left this dbss they are comfortable with.
On a sidenote, will the JLD plan help boost the value of this dbss? Or even so, compared to surrounding resale, i will still lose out?
Or do i wait for cck ec? I read from irenekng ec vs pc thread and thought, if i buy cck ec, might as well buy pc, can keep this hdb.
haha... welcome to cck... place where birds don't lay eggs... so everything cheap cheap... (and also no bird poo falling from sky...)
i rented out my 5rm hdb in clementi and now moved to cck... got a 800K pc a year ago here... clementi pc too expensive for me...
:D
got a separate questions..
anybody knows or could guess why mnd wanna build dbss at yuan ching "that location" ??... they plan to pull an mrt line to that location after lakeside fully developed or what ??...
ec there may be ok, but why dbss ??...
:confused:
I also have the same feeling that the land should not be a dbss.
Dbss high prices is only justifiable by good location, near mrt, matured estate whereby there are few bto. Ie clementi dbss, tpy, boon keng and etc.. Sighz
And the yuan ching dbss is pretty far from JLD.
URA why u release this land as dbss nt ec!
devilplate
01-12-11, 17:00
Went to view blossom residence, ec at bt panjang. The parents not comfortable with bt panjang.
Then dont want live in the east, so i left this dbss they are comfortable with.
On a sidenote, will the JLD plan help boost the value of this dbss? Or even so, compared to surrounding resale, i will still lose out?
Or do i wait for cck ec? I read from irenekng ec vs pc thread and thought, if i buy cck ec, might as well buy pc, can keep this hdb.
I am not asking u to buy EC.....comparatively, any other crap EC is more value for money den this dbss.....bcoz EC can compare prices wif a PC whereas dbss compare wif hdb....
Mi casa ard 1mil
Caspian 3bdr close to 1mil....
Try condos at yew tee area.....yew mei green for eg....gd luck
DBSS is a HDB flat. So buy liao cannot buy another property before MOP (5yrs after TOP) right? Looking at your reasonings, you would be better off taking the $8K as tuition fees for lesson on property investment and go plan/save up for a proper upgrade to your dream home lah. There are many ways to skin a cat!
Oh dear!!! I didn't know that! Thks thks!
I am not asking u to buy EC.....comparatively, any other crap EC is more value for money den this dbss.....bcoz EC can compare prices wif a PC whereas dbss compare wif hdb....
Mi casa ard 1mil
Caspian 3bdr close to 1mil....
Try condos at yew tee area.....yew mei green for eg....gd luck
Food for thought. Thanks devil! Really very thankful for everyone's reply here.
devilplate
01-12-11, 17:06
Food for thought. Thanks devil! Really very thankful for everyone's reply here.
One more parc vera....go visit the showflat....
I tink u nid to visit more showflat.....hehehehe
Happy hunting ;)
haha... welcome to cck... place where birds don't lay eggs... so everything cheap cheap... (and also no bird poo falling from sky...)
i rented out my 5rm hdb in clementi and now moved to cck... got a 800K pc a year ago here... clementi pc too expensive for me...
:D
Actually yuan ching vs cck, i did pick cck.
Yes, clementi pc are indeed exp. Which block is ur clementi 5rm?
How old are you Ms Esther?
ikan bilis
01-12-11, 17:14
Actually yuan ching vs cck, i did pick cck.
Yes, clementi pc are indeed exp. Which block is ur clementi 5rm?
mine at clementi west, so very junk price 1....
for 650K HDB at Yuan Ching??... if me,... will consider ParkView Apt... both equally no good locations... :beats-me-man:
http://forums.condosingapore.com/showthread.php?t=12442&page=3
PARKVIEW APARTMENTS BUKIT BATOK STREET 25 Apartment 1 800,000 1,119 Strata 715 Oct-11
PARKVIEW APARTMENTS BUKIT BATOK STREET 25 Apartment 1 840,000 1,130 Strata 743 Oct-11
PARKVIEW APARTMENTS BUKIT BATOK STREET 25 Apartment 1 780,000 1,130 Strata 690 Oct-11
PARKVIEW APARTMENTS BUKIT BATOK STREET 25 Apartment 1 820,000 1,130 Strata 726 Oct-11
PARKVIEW APARTMENTS BUKIT BATOK STREET 25 Apartment 1 830,000 1,119 Strata 741 Oct-11
(not really asking you to look at parkview hor... for comparison only...)
How old are you Ms Esther?
Er 29 yr old
Er 29 yr old
Ok, then you can't buy under singles scheme.
Based on your budget, you can either buy a 3 bedder PC in a not ideal location OR buy a 2 bedder PC in a slightly better location. Either way you still have to top up some more money.
If you want your parents and sibling to stay with you, then you have no choice but to buy a 3 bedder PC.
Then comes other concerns. Do you have enough for renovation, furniture? Ok, assuming your family will pay for all these. How about eventually you get married, you won't be able to buy a HDB or ask your family to move out etc. then money issue etc.
Ok, then you can't buy under singles scheme.
Based on your budget, you can either buy a 3 bedder PC in a not ideal location OR buy a 2 bedder PC in a slightly better location. Either way you still have to top up some more money.
If you want your parents and sibling to stay with you, then you have no choice but to buy a 3 bedder PC.
Then comes other concerns. Do you have enough for renovation, furniture? Ok, assuming your family will pay for all these. How about eventually you get married, you won't be able to buy a HDB or ask your family to move out etc. then money issue etc.
Maybe i should leave the flock and buy a 2 bedder PC, mbr i use, keep the other room for parents, maybe they can come vsit me once a while and stay with me when it gets lonely. Lol
Buying a 3 room pc is definitely going to be v tight for me.
If i want the whole family to stay together, should i really just stick to the dbss? Buying resale meant a resale levy, older flat unlike the dbss and higher reno cost.
Hmm cos if i buy PC i can keep the 3room flat till the market is better? Can choose to either rent out or sell?Well if your financial capabilities can support 2 properties, then I strongly urge you to stick with 2 properties. Use the rental income from hdb to supplement your PC. :) Of course your priorities and unique circumstances must be considered and only you know what's best for you. :cheers5:
Maybe i should leave the flock and buy a 2 bedder PC, mbr i use, keep the other room for parents, maybe they can come vsit me once a while and stay with me when it gets lonely. Lol
Buying a 3 room pc is definitely going to be v tight for me.
If i want the whole family to stay together, should i really just stick to the dbss? Buying resale meant a resale levy, older flat unlike the dbss and higher reno cost.
Find a bf, marry n u get a bigger 3 bedroom EC.
Maybe i should leave the flock and buy a 2 bedder PC, mbr i use, keep the other room for parents, maybe they can come vsit me once a while and stay with me when it gets lonely. Lol
Buying a 3 room pc is definitely going to be v tight for me.
If i want the whole family to stay together, should i really just stick to the dbss? Buying resale meant a resale levy, older flat unlike the dbss and higher reno cost.If you want whole family staying together, i.e. your parents also move out of their apartment, then along with your current hdb, you have 2 rental income (correct me if I'm mistaken to assume that your parents are currently not staying with you). Then you probably can afford a 3 bedder PC. :o
Maybe i should leave the flock and buy a 2 bedder PC, mbr i use, keep the other room for parents, maybe they can come vsit me once a while and stay with me when it gets lonely. Lol
Buying a 3 room pc is definitely going to be v tight for me.
If i want the whole family to stay together, should i really just stick to the dbss? Buying resale meant a resale levy, older flat unlike the dbss and higher reno cost.
You could buy a 2 bedder PC, either for:
1. own stay and experience joy of being away from parents, hold lotsa parties etc.
2. rent out PC, pay for mortgage and balance bring family on monthly outing. Everyone will be happy. Family can use facilities too.
Back to budget. I suppose you only have enough for a 2 bedder and feeling stretched. I recommend you buy one unit which is fairly new so you minimize renovation. Those unit rented to jap is ideal.
Another point to note. If you have whole family staying with you in your PC, don't expect the HDB rental will go to your purse. It is filial to let your parents have the rental income and you being a responsible girl invite them to stay at your PC.
If you want whole family staying together, i.e. your parents also move out of their apartment, then along with your current hdb, you have 2 rental income (correct me if I'm mistaken to assume that your parents are currently not staying with you). Then you probably can afford a 3 bedder PC. :o
Nope, only 1 rental income.
You could buy a 2 bedder PC, either for:
1. own stay and experience joy of being away from parents, hold lotsa parties etc.
2. rent out PC, pay for mortgage and balance bring family on monthly outing. Everyone will be happy. Family can use facilities too.
Back to budget. I suppose you only have enough for a 2 bedder and feeling stretched. I recommend you buy one unit which is fairly new so you minimize renovation. Those unit rented to jap is ideal.
Another point to note. If you have whole family staying with you in your PC, don't expect the HDB rental will go to your purse. It is filial to let your parents have the rental income and you being a responsible girl invite them to stay at your PC.
Geez, i actually wanna makan the rental, buay paiseh! :scared-5:
Geez, i actually wanna makan the rental, buay paiseh! :scared-5:Its a tricky business. If your hdb has been fully paid, then you can take your parents in to stay at the PC and since they are still staying there, they can use their hdb rental to supplement your PC. One hand, they still have the hdb under their name (I assume again) and you can still build on your ownership of a condo. Then you must remember should the day come when you so decide to move into a subsidized public housing, you must sell your PC and guai guai wait for 2 years before you're eligible... :eek: unless our dear KBW change the ruling... :cheers1:
This dbss is v far from mrt, surrounding flat of equivalent size selling for 400-500k, does this make this dbss a v lousy buy in your opinion?
Far from MRT. I will not consider that location.
Its a tricky business. If your hdb has been fully paid, then you can take your parents in to stay at the PC and since they are still staying there, they can use their hdb rental to supplement your PC. One hand, they still have the hdb under their name (I assume again) and you can still build on your ownership of a condo. Then you must remember should the day come when you so decide to move into a subsidized public housing, you must sell your PC and guai guai wait for 2 years before you're eligible... :eek: unless our dear KBW change the ruling... :cheers1:
Oh god, i keep learning somethg new here. Did not knw of this regulation! Tsk tsk!
Thanks!
Agree on both your statements...but haven't we been already told car is not our birth-right on this tiny island?
Unfortunately, we have been slow in increasing capacity till now.
CCL, next DTL1/2/3 will help.
Well i barely remembered someone saying we should give everyone a chance for car ownership but as long as they dont drive often :beats-me-man: but then they realized how to promote IRs if your tourists take forever to get there due to traffic jams... definitely bad experience
Far from MRT. I will not consider that location.
Thanks for sharing how u feel about this development.
Basic virus has infected DBSS buyers help .... :doh:
Ahhh, now i understand wats basic virus. Lol!
Maybe 10-15years later, DBSS can privatize to become condo like hudc? Since now they are scrapped and we only have a limited number of such flats.
:beats-me-man:
Ahhh, now i understand wats basic virus. Lol!Good that you know... its really contagious and somewhat irritating... :D
moneymatters
02-12-11, 04:23
Just a side thought to make sure you have covered all your angles.
Is your 3 room Clementi HDB flat in the line for potential future SERS (selective enbloc redevelopment)? A good chance if it is more than 30 years old. Maybe not now but potentially in the next 5-7 years??
If the surrounding equivalent is selling at S$400-500k, yet you will be paying S$650K for a new unit. Do you think the DBSS is >S$8k overpriced? If the answer is a sounding yes, you have already made a decision.
The value of S$8k option money is to give you the opportunity to protect yourself from making a bigger mistake.
It is kind of like dating. You gave away your first smile (or kiss) to ur bf, but then realized he is definitely not ur type. Surely you will not marry him just because you have given him the first smile (or kiss). Regardless of tears, u will still say goodbye.
Thanks,
Richard
PS. At your age, the priority is indeed dating. When my wife was at your age, our son was already 2 years old. Try to rent a place and stay on your own. Plenty of time to make money in future, but limited time to make good quality baby.
If the surrounding equivalent is selling at S$400-500k, yet you will be paying S$650K for a new unit. Do you think the DBSS is >S$8k overpriced? If the answer is a sounding yes, you have already made a decision.
The value of S$8k option money is to give you the opportunity to protect yourself from making a bigger mistake.
It is kind of like dating. You gave away your first smile (or kiss) to ur bf, but then realized he is definitely not ur type. Surely you will not marry him just because you have given him the first smile (or kiss). Regardless of tears, u will still say goodbye.
Thanks,
Richard
PS. At your age, the priority is indeed dating. When my wife was at your age, our son was already 2 years old. Try to rent a place and stay on your own. Plenty of time to make money in future, but limited time to make good quality baby.Different generation lah... :D Now the average marriage age for man is 31/2 and that for woman is 29/30. Average means can be between 27 to 32 (plus minus 2).
Anyway, really like your analogy and yes, DBSS is definitely > $8k overpriced. :cool:
phantom_opera
02-12-11, 08:09
esther's main problem is to convince her parents that paying 8k penalty is better than overpaying for an ulu DBSS
Which is better? Pay $8k or pay $100k more? Anyway, it is also convincing them to move to a PC if anything... I think the $8k is hers, not her parents'...
If the surrounding equivalent is selling at S$400-500k, yet you will be paying S$650K for a new unit. Do you think the DBSS is >S$8k overpriced? If the answer is a sounding yes, you have already made a decision.
The value of S$8k option money is to give you the opportunity to protect yourself from making a bigger mistake.
It is kind of like dating. You gave away your first smile (or kiss) to ur bf, but then realized he is definitely not ur type. Surely you will not marry him just because you have given him the first smile (or kiss). Regardless of tears, u will still say goodbye.
Thanks,
Richard
PS. At your age, the priority is indeed dating. When my wife was at your age, our son was already 2 years old. Try to rent a place and stay on your own. Plenty of time to make money in future, but limited time to make good quality baby.
Well said! Now i wonder if my wife married me because she loves me or because i stole her first kiss... :ashamed1:
Which is better? Pay $8k or pay $100k more? Anyway, it is also convincing them to move to a PC if anything... I think the $8k is hers, not her parents'...
Her case is a no brainer. I would take it as losing to MBS/RWS. Should walk away from the deal. Furthermore year end bonus is coming so less heartache.
Usually parents tend to be prudent & not wanting to overstretch the kids. Hopefully things turn out well for u after u made ur decision.
Her case is a no brainer. I would take it as losing to MBS/RWS. Should walk away from the deal. Furthermore year end bonus is coming so less heartache.Agreed... walk away quick...
ikan bilis
02-12-11, 09:49
got 1 thing.... most forumers here (including me) all very $$-face 1... everything main consideration/concern all at the $$-value...
most of replies here are opinions from investor's/investment point of view... so, make your decision wisely and don't give up that dbss too easily,... have some thorough thought and discuss with family first... :cheers4:
devilplate
02-12-11, 09:55
wats her motivation of buying tat dbss? wana move into a bigger place bcoz current plc too small rite?
but den dbss takes 3yrs to build....den wats the point???
shd just sell her 3rm flat and buy a bigger PC or resale flat....problem solved ;)
ikan bilis
02-12-11, 10:03
heya... not that old mah... lots of bright future hor...
may be found a rich hubby in next 2 yr, get name removed from dbss,... move to landed,... parents retire in dbss...
and life got a lots of things more than just $$, ok....
anything can happen in the future mah... ( although i would say/agree dbss not a good choice, ec or resale pc better :ashamed1: )
I may have missed this point, since first timer privilege is not the concern, why apply for DBSS and not some private condo around the area.
This dbss is v far from mrt, surrounding flat of equivalent size selling for 400-500k, does this make this dbss a v lousy buy in your opinion?
Overpriced HDB in a lousy location, no no.
DBSS can consider only if near MRT, amenities.:confused:
Usually parents tend to be prudent & not wanting to overstretch the kids. Hopefully things turn out well for u after u made ur decision.
Actually that's prob the reason why they decided to go for dbss then ec or pc.
Hdb, 650k more prudent? Compared to 800k plus ec or 1 mil and above pc?
I dunno. Thats my gut feel when i tried discussing with him.
Also commented, house is for staying, why care about the upside or not. Geez
got 1 thing.... most forumers here (including me) all very $$-face 1... everything main consideration/concern all at the $$-value...
most of replies here are opinions from investor's/investment point of view... so, make your decision wisely and don't give up that dbss too easily,... have some thorough thought and discuss with family first... :cheers4:
Discussion need 2 way one leh.
is there an urgency to move out now or move to a bigger place, and hence buy yuan ching dbss? if not, i will walk away and wait.
the price of getting into a big commitment at a bad time plus lousy location which u have to live there for a long time, versus losing 8k.. to me the choice is obvious.
dont forget u are living in clementi now which is quite a convenient location with mrt, once u move to yuan ching without mrt u will sure to regret. It is a hefty downgrade imo.
i also feel a lot of first-time entrants of property market (be it for hdb or private property) are affected by the property run of the past 2 or 3 years and as a result they started buying, even now. They think if they dont buy now prices will go up further, and this is quite irrational. Bcos quite a lot of investors are already out of the market and waiting at the sideline. :scared-5:
I have a friend who missed the boat in 08/09 and waited and waited until this yr cannot tahan liao went to buy a new launch at a OCR location. Now he is starting to regret.... So it pays to be disciplined and be patient and wait.
is there an urgency to move out now or move to a bigger place, and hence buy yuan ching dbss? if not, i will walk away and wait.
the price of getting into a big commitment at a bad time plus lousy location which u have to live there for a long time, versus losing 8k.. to me the choice is obvious.
dont forget u are living in clementi now which is quite a convenient location with mrt, once u move to yuan ching without mrt u will sure to regret. It is a hefty downgrade imo.
i also feel a lot of first-time entrants of property market (be it for hdb or private property) are affected by the property run of the past 2 or 3 years and as a result they started buying, even now. They think if they dont buy now prices will go up further, and this is quite irrational. Bcos quite a lot of investors are already out of the market and waiting at the sideline. :scared-5:
I have a friend who missed the boat in 08/09 and waited and waited until this yr cannot tahan liao went to buy a new launch at a OCR location. Now he is starting to regret.... So it pays to be disciplined and be patient and wait.
Yuan Ching area is peaceful with lots of greenery. Plus the recreational development in the next 10 years. Well it depends what you are looking for. With car, MRT is not an issue (in fact it is a curse due to congestion like Clementi).
Actually that's prob the reason why they decided to go for dbss then ec or pc.
Hdb, 650k more prudent? Compared to 800k plus ec or 1 mil and above pc?
I dunno. Thats my gut feel when i tried discussing with him.
Also commented, house is for staying, why care about the upside or not. Geez
eh...who got a bigger say, ur papa or u?
Might as well, i forgo my booking fee, keep the 3 room flat, wait and get a PC. And then rent out the 3 room flat.
U already had the answer. Tell ur papa 8k no need to heartpain, 3-4mth from ur 3rm income can cover liao. Feel better? :D
is there an urgency to move out now or move to a bigger place, and hence buy yuan ching dbss? if not, i will walk away and wait.
the price of getting into a big commitment at a bad time plus lousy location which u have to live there for a long time, versus losing 8k.. to me the choice is obvious.
dont forget u are living in clementi now which is quite a convenient location with mrt, once u move to yuan ching without mrt u will sure to regret. It is a hefty downgrade imo.
i also feel a lot of first-time entrants of property market (be it for hdb or private property) are affected by the property run of the past 2 or 3 years and as a result they started buying, even now. They think if they dont buy now prices will go up further, and this is quite irrational. Bcos quite a lot of investors are already out of the market and waiting at the sideline. :scared-5:
I have a friend who missed the boat in 08/09 and waited and waited until this yr cannot tahan liao went to buy a new launch at a OCR location. Now he is starting to regret.... So it pays to be disciplined and be patient and wait.
Not in urgent need, afterall live here for almost 3 decades.
I wonder if this applies to HDB? I mean even BTOs/SERS in Clementi is alrdy min 500K for 5rm. What will happen to these ppl who bought high should the price go dwn? Ride thru the wave or govt will not allow that?
Yuan Ching area is peaceful with lots of greenery. Plus the recreational development in the next 10 years. Well it depends what you are looking for. With car, MRT is not an issue (in fact it is a curse due to congestion like Clementi).
Do you think the recreational development will bring potential to this DBSS? Your opinion, i understand no one has a crystal ball to knw what the future holds. Thanks!
Just a side thought to make sure you have covered all your angles.
Is your 3 room Clementi HDB flat in the line for potential future SERS (selective enbloc redevelopment)? A good chance if it is more than 30 years old. Maybe not now but potentially in the next 5-7 years??
Well, we waited and waited, since we heard rumours in the neighbourhood that our blocks are earmarked for enbloc 10yrs plus ago. Reason being its mainly 3-4rm flats in our estate, there's a big open carpark, no new paint job for long time. But then came up long come pavement upgrading, lift upgrading and etc. I doubt it will happen in another 5-7 yrs. Sad.
Regulators
02-12-11, 21:12
Hi esther, my friends went down to the lakeside dbss and told me that part of lakeside is a chicken cannot lay eggs area for reasons that it is far from amenities and quite unwalkable to mrt. For $650k, you are better off with travelis in clementi. Again, dbss is not a popular choice with buyers now coz prices are close to ec. If u must buy something new from hdb, go for ec. But if I were you, I will just wait to get a pc due to the many launches that will pop up every now and then.
ikan bilis
02-12-11, 21:13
Discussion need 2 way one leh.
=> heya... there could be some issues your parents cannot tell you too directly, for e.g.
- they are responsible to make sure whole family is safe, do not fall into any financial traps
- might not want you to be to become more "materialistic"
- might not willing to spend the extra maintenance charges, more comfortable with hdb type of neighbourhood/environment
- cannot move too much $$ into your assets, has to be fair to the other siblings
- feeling of a house is just a house as long as comfortable, why wanna take extra loan?
- what if you get married next time, where they stay?
- buying any private condo is not a 100% sure-win bet
.......
think your parents are right and supporting them... you try to be a kwai kwai girl lah!!... :cheers4:
Do you think the recreational development will bring potential to this DBSS? Your opinion, i understand no one has a crystal ball to knw what the future holds. Thanks!
I'm not looking at hard asset potential. It's more of going to a more peaceful home and environment after a hard day's work. This area is at the boundary of residential and industrial zone, the latter is relatively empty at night and during weekend, so there is less crowd.
Hi esther, my friends went down to the lakeside dbss and told me that part of lakeside is a chicken cannot lay eggs area for reasons that it is far from amenities and quite unwalkable to mrt. For $650k, you are better off with travelis in clementi. Again, dbss is not a popular choice with buyers now coz prices are close to ec. If u must buy something new from hdb, go for ec. But if I were you, I will just wait to get a pc due to the many launches that will pop up every now and then. sound advise...., u r right that location not good...., clementi is better..
eh...who got a bigger say, ur papa or u?
U already had the answer. Tell ur papa 8k no need to heartpain, 3-4mth from ur 3rm income can cover liao. Feel better? :D
I say 50-50, he feels the dbss is for us, me and sibling. Each one will have a room each. Sell the 3room, the money will be used to pay for this DBSS, remaining i pay. Which wont be alot. No resale levy, comes renovated and he loves the balcony whereby he can grow some plants and enjoy his retirement.
He's worried that in future HDB will be much more expensive like a million or what, judging that Sengkang Punggol is alrdy 400k? Worried my bro will not be able to buy one in future. Love of a parent.
End up I thought i buy is for him cos he loves the balcony. He on the other hand is buying for us and is willing to move to faraway land Yuan Ching for us. No communication, end up, Hoi Hup and agent wins. Buy also win, we forfeit also they win. LOL. :banghead:
Hi esther, my friends went down to the lakeside dbss and told me that part of lakeside is a chicken cannot lay eggs area for reasons that it is far from amenities and quite unwalkable to mrt. For $650k, you are better off with travelis in clementi. Again, dbss is not a popular choice with buyers now coz prices are close to ec. If u must buy something new from hdb, go for ec. But if I were you, I will just wait to get a pc due to the many launches that will pop up every now and then.
Sighz, thats what i felt too, that kinda location is prob what i would expect of a EC not DBSS! Ok, i guess i really have to just bear with the 8K loss and take it as a very expensive lesson. My appt for Trivelis is this Sat, probably left a few low rise face afternoon sun units. Will go and take a look. Meanwhile wait for CCK EC or shout dwn market like Basic and hope it will come dwn soon! Wahaha!
The DBSS blocks are mostly lake facing - http://www.newdbss.com/home/lake-vista . Much much better view than Bedok reservoir. Very near Jurong Island and Tuas. Development of that stretch as part of Jurong Lake District is in pipeline. Good potential to rent out to the foreigners working there.
=> heya... there could be some issues your parents cannot tell you too directly, for e.g.
- they are responsible to make sure whole family is safe, do not fall into any financial traps
- might not want you to be to become more "materialistic"
- might not willing to spend the extra maintenance charges, more comfortable with hdb type of neighbourhood/environment
- cannot move too much $$ into your assets, has to be fair to the other siblings
- feeling of a house is just a house as long as comfortable, why wanna take extra loan?
- what if you get married next time, where they stay?
- buying any private condo is not a 100% sure-win bet
.......
think your parents are right and supporting them... you try to be a kwai kwai girl lah!!... :cheers4:
Yah man, u r right. He did mentioned about the monthly condo fees, which he feels is unnecessary cost since he won't be using any of the facilities. Next time condo requires new paint or any maintenance, gotta pay unlike HDB. Plenty of hidden cost. Ask me don't risk it.
And i was nodding my head to all of your above points. Which now again i feel swayed to just go along with this DBSS. Arghhhhh!
Irene_kyng
02-12-11, 21:36
Cck ec will be at good location, not too far from lot 1 & mrt, at the same time also quite near to teck whye..and will be built by CDL
Yah man, u r right. He did mentioned about the monthly condo fees, which he feels is unnecessary cost since he won't be using any of the facilities. Next time condo requires new paint or any maintenance, gotta pay unlike HDB. Plenty of hidden cost. Ask me don't risk it.
And i was nodding my head to all of your above points. Which now again i feel swayed to just go along with this DBSS. Arghhhhh!
DBSS is still a HDB, which means SERS or decent compensation in future... by the way, please get married and have kids, so that you can pass this property on. If not, all you worked for will be just dust in the wind.
I stayed in Clementi area for a long time and am very familiar with Jurong. I cant be too wrong! :p
Yah man, u r right. He did mentioned about the monthly condo fees, which he feels is unnecessary cost since he won't be using any of the facilities. Next time condo requires new paint or any maintenance, gotta pay unlike HDB. Plenty of hidden cost. Ask me don't risk it.
And i was nodding my head to all of your above points. Which now again i feel swayed to just go along with this DBSS. Arghhhhh!
did u work out ur monthly, ur cpf, ur job stability.
there are higher property tax and increasing, maintainance fee, higher utility bills to pay.
Cck ec will be at good location, not too far from lot 1 & mrt, at the same time also quite near to teck whye..and will be built by CDL
CCK will huat in 20 years' time when the government runs out of land. Most likely the government will take back some of the military training ground.
He's worried that in future HDB will be much more expensive like a million or what, judging that Sengkang Punggol is alrdy 400k? Worried my bro will not be able to buy one in future. Love of a parent.
ah....i think this could the main reason & being prudent since PC has maintenance. He also bochap upside u mentioned. He should be looking 8~10yrs ahead ba. Need to poloso him a bit lor.
The DBSS blocks are mostly lake facing - http://www.newdbss.com/home/lake-vista . Much much better view than Bedok reservoir. Very near Jurong Island and Tuas. Development of that stretch as part of Jurong Lake District is in pipeline. Good potential to rent out to the foreigners working there.
Sadly mine is Block 101, does not face lake, but future high rise private residential development..... Did not know when signing, just trusted the developer brochures, thought next to the DBSS land parcel was AGAPE and trusted the agent who said unblock view, face greenery, face golf course, gt condo building next door but quite far away will block abit only. End up when i googled up, i realised all salah! Opposite my block will have hotel development, beside condo. FML.
I say 50-50, he feels the dbss is for us, me and sibling. Each one will have a room each. Sell the 3room, the money will be used to pay for this DBSS, remaining i pay. Which wont be alot. No resale levy, comes renovated and he loves the balcony whereby he can grow some plants and enjoy his retirement.
He's worried that in future HDB will be much more expensive like a million or what, judging that Sengkang Punggol is alrdy 400k? Worried my bro will not be able to buy one in future. Love of a parent.
End up I thought i buy is for him cos he loves the balcony. He on the other hand is buying for us and is willing to move to faraway land Yuan Ching for us. No communication, end up, Hoi Hup and agent wins. Buy also win, we forfeit also they win. LOL. :banghead:Buying DBSS does not solve the problem either. If you are paying the remaining of the flat price, then if your dad wants to provide for your brother, you guys still need to sell the flat which currently holds a 5 yr MOP plus 3 years construction. Your brother may need to get a house of his own before 8 years is up or your may want to have your own family before 8 years too.
If you are buying a PC, given everything the same, you may also need to sell the PC when your brother or you wants to get married to split the finance. Then getting a resale PC or a going to TOP PC makes more sense coz only has 4 yr SSD and not much waiting time. No need to lock yourselves into the flat and can't explore other permutations to work around your family situations. ;)
Cck ec will be at good location, not too far from lot 1 & mrt, at the same time also quite near to teck whye..and will be built by CDL
Hi Irene! Was reading your thread, have you decided to to go EC or PC?
I saw that the EC will be just right beside the Micasa. Think i am just going to topo ard that area this weekend. Cheers!
Sadly mine is Block 101, does not face lake, but future high rise private residential development..... Did not know when signing, just trusted the developer brochures, thought next to the DBSS land parcel was AGAPE and trusted the agent who said unblock view, face greenery, face golf course, gt condo building next door but quite far away will block abit only. End up when i googled up, i realised all salah! Opposite my block will have hotel development, beside condo. FML.Most housing agents along with a few other types of people are little :hell-hath-no-fury: parading and masquerading as little angels... You have certainly learnt your lesson the hard way! :scared-5:
Sadly mine is Block 101, does not face lake, but future high rise private residential development..... Did not know when signing, just trusted the developer brochures, thought next to the DBSS land parcel was AGAPE and trusted the agent who said unblock view, face greenery, face golf course, gt condo building next door but quite far away will block abit only. End up when i googled up, i realised all salah! Opposite my block will have hotel development, beside condo. FML.
Oh...ok. It doesnt seem to face e lake. $8k is a cheap mistake... How to console u?
DBSS is still a HDB, which means SERS or decent compensation in future... by the way, please get married and have kids, so that you can pass this property on. If not, all you worked for will be just dust in the wind.
I stayed in Clementi area for a long time and am very familiar with Jurong. I cant be too wrong! :p
ok noted.
Best suburban! I love Clementi! LOL
did u work out ur monthly, ur cpf, ur job stability.
there are higher property tax and increasing, maintainance fee, higher utility bills to pay.
Yah thats a raw point, I am a commissioned worker, though it has been pretty constant, prob 10% variation for past 4 yrs, but still... for sales, earning is always a ?.
I havent even check with the bank how much are they willing to loan me, thanks for reminder. Shall head to the bank soon for enquiry.
ah....i think this could the main reason & being prudent since PC has maintenance. He also bochap upside u mentioned. He should be looking 8~10yrs ahead ba. Need to poloso him a bit lor.
Indeed indeed. FYI, its not 8-10yrs, i think he is looking to rest of his life till he pass away and kuasa the flat to us. And insist i should take a as long loan as possible and buy home insurance, so if he dies i no need pay anymore, so negative sounding.
I say 50-50, he feels the dbss is for us, me and sibling. Each one will have a room each. Sell the 3room, the money will be used to pay for this DBSS, remaining i pay. Which wont be alot. No resale levy, comes renovated and he loves the balcony whereby he can grow some plants and enjoy his retirement.
He's worried that in future HDB will be much more expensive like a million or what, judging that Sengkang Punggol is alrdy 400k? Worried my bro will not be able to buy one in future. Love of a parent.
End up I thought i buy is for him cos he loves the balcony. He on the other hand is buying for us and is willing to move to faraway land Yuan Ching for us. No communication, end up, Hoi Hup and agent wins. Buy also win, we forfeit also they win. LOL. :banghead:
this is wat i was talking about. It is driving people who ordinarily would not think of getting a property to start thinking of getting property. It becomes self fulfilling :doh: ...and of course a lot of blame has to go to the ex-housing minister and the ruling party.
if this is the driving force behind the reason to buy, then i say it is wrong from the start.
Buying DBSS does not solve the problem either. If you are paying the remaining of the flat price, then if your dad wants to provide for your brother, you guys still need to sell the flat which currently holds a 5 yr MOP plus 3 years construction. Your brother may need to get a house of his own before 8 years is up or your may want to have your own family before 8 years too.
If you are buying a PC, given everything the same, you may also need to sell the PC when your brother or you wants to get married to split the finance. Then getting a resale PC or a going to TOP PC makes more sense coz only has 4 yr SSD and not much waiting time. No need to lock yourselves into the flat and can't explore other permutations to work around your family situations. ;)
Sorry, whats SSD?
Sadly mine is Block 101, does not face lake, but future high rise private residential development..... Did not know when signing, just trusted the developer brochures, thought next to the DBSS land parcel was AGAPE and trusted the agent who said unblock view, face greenery, face golf course, gt condo building next door but quite far away will block abit only. End up when i googled up, i realised all salah! Opposite my block will have hotel development, beside condo. FML.
u have a case and can say u are misled by the agent, and therefore want to renege on the purchase.
Sorry, whats SSD?Seller's Stamp Duty! Last time buyers have to pay govt a stamp duty fee. Now even sellers have to pay... :doh:
Most housing agents along with a few other types of people are little :hell-hath-no-fury: parading and masquerading as little angels... You have certainly learnt your lesson the hard way! :scared-5:
Yup, most certainly, i also learn that i seemed to have soft spot for aunty-ly or uncle-ly sales ppl. Always think they are elders, like my own aunty uncles? But no, they are such lao jiao, eat u no spit out bone.
Puiz puiz puiz.
:hell-hath-no-fury:
u have a case and can say u are misled by the agent, and therefore want to renege on the purchase.Good to pursue this case... engaging a lawyer to fight and win this case may cost less than $2k and you might still get back your $8k.. :cheers1:
Then again, depending on how your lawyer argues the case, you might end up not getting anything back because there is always a duty of care on the part of the buyers to check and ensure simply because you can read and write... I'm not the expert... :(
i read this thread really just want to shake head ... :doh:
there are just too many 1st-time buyers out there who dont know the full picture of buying a property/HDB and wat they are getting themselves into.. and worse the agents play a big part and they are not helping at all. Sad sia ~
edit: HDB resale has a 7-day cooling period, i think this must be applied for BTO or DBSS too!
Oh...ok. It doesnt seem to face e lake. $8k is a cheap mistake... How to console u?
No need la, i deserve it. Onus was on me to do my research, think hard and discuss before signing on anything.
More painful more 'memorable? Ah q abit.
Now is more of convincing myself that that yes i was right to walk away from this DBSS. Rather than 10-20 yrs later, regret! "Aiyah i was actually on that boat but i decided to alight." "Why?" "Errrr..." So i guess i will need more cons and make sure i've thought through all factors throughly before coming to a conclusion. Hope i can make a better situation outta this and freaking earn this 8K back!
i read this thread really just want to shake head ... :doh:
there are just too many 1st-time buyers out there who dont know the full picture of buying a property/HDB and wat they are getting themselves into.. and worse the agents play a big part and they are not helping at all. Sad sia ~Not only agents... the developers too and most outrageously the concept of DBSS is :doh:. Throw in the reno and ask for $150k more? I am sure I can do the whole reno for $50k. :rolleyes:
ikan bilis
02-12-11, 22:23
Indeed indeed. FYI, its not 8-10yrs, i think he is looking to rest of his life till he pass away and kuasa the flat to us. And insist i should take a as long loan as possible and buy home insurance, so if he dies i no need pay anymore, so negative sounding.
alamak... sounds like...
- you dad thinks high chances of you cannot get married...
- and your dad's health might not be in that optimum state as before...
- he might have a bigger worried about your other siblings... may be not performaing to his expectation....
- he might also had seen too much of other people's family problems, and etc...
so you better talk to him more... instead of tcss in this cyberworld... and if your family had squeezed inside a quite small 3bdr for last 20-30 yrs... i guess your parents might actually hate staying in condo... better don't bring up any condos things with your parents... just more communication...
ok,... good night liow... :sleep:
:cheers4:
u have a case and can say u are misled by the agent, and therefore want to renege on the purchase.
u meant get back the 8K? i have no proof, cos when i call the aunty agent, she only verbally say sorry over the phone and apologise and said showroom v crowded that day, she was confused and see wrongly. When i asked her to come to my place for discussion, she flipped her words and said she did tell us its facing condo side and blah blah. :simmering:
Good to pursue this case... engaging a lawyer to fight and win this case may cost less than $2k and you might still get back your $8k.. :cheers1:
Then again, depending on how your lawyer argues the case, you might end up not getting anything back because there is always a duty of care on the part of the buyers to check and ensure simply because you can read and write... I'm not the expert... :(
Then if lose, $10k loss.... I will :banghead::banghead::banghead::banghead::banghead::banghead:
Good to pursue this case... engaging a lawyer to fight and win this case may cost less than $2k and you might still get back your $8k.. :cheers1:
Then again, depending on how your lawyer argues the case, you might end up not getting anything back because there is always a duty of care on the part of the buyers to check and ensure simply because you can read and write... I'm not the expert... :(
well seriously if she has relied on agent's info that view is unblocked etc and then acted on it, and after signing finds out such is not the case than there is ground to fight. if u fight there is a chance, if u dont fight then stick with the lemon lor.
No need la, i deserve it. Onus was on me to do my research, think hard and discuss before signing on anything.
More painful more 'memorable? Ah q abit.
Now is more of convincing myself that that yes i was right to walk away from this DBSS. Rather than 10-20 yrs later, regret! "Aiyah i was actually on that boat but i decided to alight." "Why?" "Errrr..." So i guess i will need more cons and make sure i've thought through all factors throughly before coming to a conclusion. Hope i can make a better situation outta this and freaking earn this 8K back!Is there a way to split up the cost of selling your current HDB flat into two portions of downpayments? One for the dbss and another for a small PC? Then your dad might need to continue to work to service the loan while you service the other loan or something? Like that, you may alleviate your dad's concerns and also address the issue of should one need to marry or something? You can also explore renting out the PC to let the rental income service the mortgage loan for that PC and should the time come for you or your brother to need a house for himself/yourself, then can just move out immediately? Like that don't have to forgo the $8k even... :cheers4:
Then again you have to consider the names to put as owners of the DBSS and condo. Your dad can be owner of DBSS while you go for condo but you cannot buy HDB flats in future unless you sell your PC or the rules have changed... :cool:
Then if lose, $10k loss.... I will :banghead::banghead::banghead::banghead::banghead::banghead:Well before you engage the lawyers to write for you, sit down and explore and evaluate your chances... let the lawyers assess your situation before embarking lor... :cheers1:
alamak... sounds like...
- you dad thinks high chances of you cannot get married...
- and your dad's health might not be in that optimum state as before...
- he might have a bigger worried about your other siblings... may be not performaing to his expectation....
- he might also had seen too much of other people's family problems, and etc...
so you better talk to him more... instead of tcss in this cyberworld... and if your family had squeezed inside a quite small 3bdr for last 20-30 yrs... i guess your parents might actually hate staying in condo... better don't bring up any condos things with your parents... just more communication...
ok,... good night liow... :sleep:
:cheers4:
Yes Dr Ikan, good nite. :sleep:
u meant get back the 8K? i have no proof, cos when i call the aunty agent, she only verbally say sorry over the phone and apologise and said showroom v crowded that day, she was confused and see wrongly. When i asked her to come to my place for discussion, she flipped her words and said she did tell us its facing condo side and blah blah. :simmering:
wow, then more so i would take this agent to task. I would lodge a complaint separately with CEA.
as for whether developer allows me to rescind the purchase is another matter. I would also approach HDB for help, but I must be prepared that they later give me a unit of my choice facing and i still then need to proceed with the purchase.
wow, then more so i would take this agent to task. I would lodge a complaint separately with CEA.
as for whether developer allows me to rescind the purchase is another matter. I would also approach HDB for help, but I must be prepared that they later give me a unit of my choice facing and i still then need to proceed with the purchase.
Oh really, but i was thinking i am not some elderly folks who cant read and etc. So onus was on me to do my research so i did not pursue. I thought its sure lose case. Go complaint also will tio slighted.
Well before you engage the lawyers to write for you, sit down and explore and evaluate your chances... let the lawyers assess your situation before embarking lor... :cheers1:
Any idea how much to engage lawyer to discuss? Or go find MP and cry? hahaha!
bluedurian
02-12-11, 22:40
Oh really, but i was thinking i am not some elderly folks who cant read and etc. So onus was on me to do my research so i did not pursue. I thought its sure lose case. Go complaint also will tio slighted.
Try looking at the OTP or promotional brochures to see if there are any limitation clauses against misrepresentation by the developer's agent. I don't think there are, but always best to make sure. And if you're really going to go to Small Claims/CEA (which I understand has a mediation option), you may want to have some physical evidence to bolster your case. Otherwise, it will become a he-say, she-say situation, and burden of proof in such cases is always on you.
u meant get back the 8K? i have no proof, cos when i call the aunty agent, she only verbally say sorry over the phone and apologise and said showroom v crowded that day, she was confused and see wrongly. When i asked her to come to my place for discussion, she flipped her words and said she did tell us its facing condo side and blah blah. :simmering:Agents are :hell-hath-no-fury:. Your agent is :hell-hath-no-fury: and :money-faced2:
Is there a way to split up the cost of selling your current HDB flat into two portions of downpayments? One for the dbss and another for a small PC? Then your dad might need to continue to work to service the loan while you service the other loan or something? Like that, you may alleviate your dad's concerns and also address the issue of should one need to marry or something? You can also explore renting out the PC to let the rental income service the mortgage loan for that PC and should the time come for you or your brother to need a house for himself/yourself, then can just move out immediately? Like that don't have to forgo the $8k even... :cheers4:
Then again you have to consider the names to put as owners of the DBSS and condo. Your dad can be owner of DBSS while you go for condo but you cannot buy HDB flats in future unless you sell your PC or the rules have changed... :cool:
But i have alrdy put my name for the DBSS. Dad is retiree. So if he applies for the DBSS himself, he wont be able to get any loan i think.
Try looking at the OTP or promotional brochures to see if there are any limitation clauses against misrepresentation by the developer's agent. I don't think there are, but always best to make sure. And if you're really going to go to Small Claims/CEA (which I understand has a mediation option), you may want to have some physical evidence to bolster your case. Otherwise, it will become a he-say, she-say situation, and burden of proof in such cases is always on you.
Confirm no proof unless Singtel got keep logs of ph conversations. :beats-me-man:
Agents are :hell-hath-no-fury:. Your agent is :hell-hath-no-fury: and :money-faced2:
Down to earth looking aunty. Either she really blur not on purpose or really act pig eat tiger.
Then when found out became Roti prata woman. :hell-hath-no-fury:
But i have alrdy put my name for the DBSS. Dad is retiree. So if he applies for the DBSS himself, he wont be able to get any loan i think.Anyone else working in your family that can act as borrowers for mortgage loans? Owner and bank borrowers need NOT be the same person! ;) You can be borrower too although you own a DBSS and don't satisfy the MOP yet. Just that you cannot be a PC owner... :o
bluedurian
02-12-11, 22:47
Confirm no proof unless Singtel got keep logs of ph conversations. :beats-me-man:
They don't. Well -- then what proof will you have to make such complaints? The problem with taking legal action is that there must be a basis on which your claim should be made.
Furthermore, I should point out that someone who reads this forum may come to the conclusion that you (i) first regretted your decision to purchase the apartment, and then (ii) decided to pin it on the agent's misrepresentations.
I am sorry to be such a Debbie Downer, though.
Confirm no proof unless Singtel got keep logs of ph conversations. :beats-me-man:What is ph? You meant hp?
get back ur 8k and go for a nice holiday..:)
Oh really, but i was thinking i am not some elderly folks who cant read and etc. So onus was on me to do my research so i did not pursue. I thought its sure lose case. Go complaint also will tio slighted.
if u think this way then it will just be so.
but u ask yourself lah, does an ordinary lay person know things like how to check up masterplan, or plot ratio, etc? no what, but agents must know otherwise they are not qualified and be licensed. So u know english and can read, so wat?
CEA as a regulator will do its job and look into all complaints. if u feel there is ground for a complaint i say do it, and the process is easy. go see their website. Anyway sporeans in general just take things lying down and dont fight for their rights.. i once lodged complaint against my lawyer, and sure enough law society took action after some investigation.
anyway to conclude, i am not encouraging u to lean towards any set of actions hor. We are here to just share some chit chat and different opinions lah, good night ~
Why wait 20 years? Which place in Singapore already run out of empty land to build now? Buy that place now! Wait 5 years can already huat huat huat! :p
CCK will huat in 20 years' time when the government runs out of land. Most likely the government will take back some of the military training ground.
Anyone else working in your family that can act as borrowers for mortgage loans? Owner and bank borrowers need NOT be the same person! ;) You can be borrower too although you own a DBSS and don't satisfy the MOP yet. Just that you cannot be a PC owner... :o
Sadly only me. Parents haven't work for past 5 yrs minimum and bro just enter uni. So long way to go.
Any other loopholes? :D
They don't. Well -- then what proof will you have to make such complaints? The problem with taking legal action is that there must be a basis on which your claim should be made.
Furthermore, I should point out that someone who reads this forum may come to the conclusion that you (i) first regretted your decision to purchase the apartment, and then (ii) decided to pin it on the agent's misrepresentations.
I am sorry to be such a Debbie Downer, though.
a misrepresentation is a misrepresentation. Refering the agent to CEA for misrep and whether developer will allow her to rescind her purchase is two different matter.
i would go talk to the developer and hdb first. I am not familiar with hdb but i would think buying BTO or DBSS they may allow some respite for any buyer to change their mind. After all these buyers are mostly not savvy property investors or buyers.
separately i will go after agent. u will be surprised how fast some of them will change their tone once u tell them u are going to CEA.
Sadly only me. Parents haven't work for past 5 yrs minimum and bro just enter uni. So long way to go.
Any other loopholes? :DThen you tahan both properties lor... say if your current hdb can fetch maybe $400k in resale market, take $120k for dbss and remaining $280k for a 2 bedder PC. Since you need to pay 40% of PC therefore your PC can only max cost $700k. Well you can look for a $600k 2 bedder instead Therefore your total bank loan for both houses might be about $850k (assuming your dbss is about $650k). Not sure how much you earn but worth a shot? :cheers1:
You are young so can take 35 years loan tenure. Also can loan from HDB for your dbss... :D
Why blame the agent only?
It is like last time govt encourage people to study IT degree, then IT sector burst and many become jobless. How? Blame the govt? Sue govt for their losses? Furthermore published in newspapers, got prove that govt encourage people to study IT. :beats-me-man:
a misrepresentation is a misrepresentation. Refering the agent to CEA for misrep and whether developer will allow her to rescind her purchase is two different matter.
i would go talk to the developer and hdb first. I am not familiar with hdb but i would think buying BTO or DBSS they may allow some respite for any buyer to change their mind. After all these buyers are mostly not savvy property investors or buyers.
separately i will go after agent. u will be surprised how fast some of them will change their tone once u tell them u are going to CEA.
if u think this way then it will just be so.
but u ask yourself lah, does an ordinary lay person know things like how to check up masterplan, or plot ratio, etc? no what, but agents must know otherwise they are not qualified and be licensed. So u know english and can read, so wat?
CEA as a regulator will do its job and look into all complaints. if u feel there is ground for a complaint i say do it, and the process is easy. go see their website. Anyway sporeans in general just take things lying down and dont fight for their rights.. i once lodged complaint against my lawyer, and sure enough law society took action after some investigation.
anyway to conclude, i am not encouraging u to lean towards any set of actions hor. We are here to just share some chit chat and different opinions lah, good night ~
Well, i really have no concrete proof. It will just be my word her words.
Like what bluedurian said, it could seemed that i regretted and decided to point accusations at the agent. Even though this is far from the truth.
Why blame the agent only?
It is like last time govt encourage people to study IT degree, then IT sector burst and many become jobless. How? Blame the govt? Sue govt for their losses? Furthermore published in newspapers, got prove that govt encourage people to study IT. :beats-me-man:
fight the battle u can win, not the one u are sure to lose lah. ;)
What is ph? You meant hp?
phone conversation on hp.
fight the battle u can win, not the one u are sure to lose lah. ;)Yes yes... there is a police (CEA) for housing agents but none for govt bodies! :cool:
if u think this way then it will just be so.
but u ask yourself lah, does an ordinary lay person know things like how to check up masterplan, or plot ratio, etc? no what, but agents must know otherwise they are not qualified and be licensed. So u know english and can read, so wat?
CEA as a regulator will do its job and look into all complaints. if u feel there is ground for a complaint i say do it, and the process is easy. go see their website. Anyway sporeans in general just take things lying down and dont fight for their rights.. i once lodged complaint against my lawyer, and sure enough law society took action after some investigation.
anyway to conclude, i am not encouraging u to lean towards any set of actions hor. We are here to just share some chit chat and different opinions lah, good night ~
Yup i do understand that. :)
a misrepresentation is a misrepresentation. Refering the agent to CEA for misrep and whether developer will allow her to rescind her purchase is two different matter.
i would go talk to the developer and hdb first. I am not familiar with hdb but i would think buying BTO or DBSS they may allow some respite for any buyer to change their mind. After all these buyers are mostly not savvy property investors or buyers.
separately i will go after agent. u will be surprised how fast some of them will change their tone once u tell them u are going to CEA.
No need lo, the next day she came to our flat she immed change.
bluedurian
02-12-11, 23:17
Well, i really have no concrete proof. It will just be my word her words.
Like what bluedurian said, it could seemed that i regretted and decided to point accusations at the agent. Even though this is far from the truth.
august is right in that your options are (i) to refer the case to the CEA, who will make their own inquiries, and that (ii) you can seek legal advice.
but my point was that in either case, evidence of such misrepresentation would be important, otherwise you'd just be wasting your time. the CEA will ask the agent if such misrepresentations took place, the agent will say no, you have no proof.
not that you cannot try -- i'm not sure how the system works, but maybe similar misrepresentations for complaints have been lodged against her before by previous clients.
if you do this, you may or may not screw her over -- but i don't think it's likely you'll be getting your $8k back via this route. just the satisfaction of possibly having add a strike to her name in the register (if one exists).
Then you tahan both properties lor... say if your current hdb can fetch maybe $400k in resale market, take $120k for dbss and remaining $280k for a 2 bedder PC. Since you need to pay 40% of PC therefore your PC can only max cost $700k. Well you can look for a $600k 2 bedder instead Therefore your total bank loan for both houses might be about $850k (assuming your dbss is about $650k). Not sure how much you earn but worth a shot? :cheers1:
You are young so can take 35 years loan tenure. Also can loan from HDB for your dbss... :D
That was my initial plan if i were to stick to buying this DBSS until one forumer in one of the prev pages mentioned i cannot purchase a PC right after purchasing a HDB flat. Must wait 5 yrs or what.
get back ur 8k and go for a nice holiday..:)
Sound more like go for a nice holiday and forget about the 8k loss.
Holiday like in JB since lose 8k.
hi esther,
while you have read through all these posts and over just 1 day gained / assimilated new knowledge, insights and arguments, and seemingly going ahead with your forfeit, i urge you to slow down and bring your parents / brother up to date with the various considerations and respect the consensus opinion. and you need to give them time to accept, if they can accept it at all.
otherwise if the property market pans out in unexpected direction, whatever rationale you have originally will be of no use. personally i think you have no choice but to carry on with the original intent, unless you can convince yourself first, and then convince the rest.
you will have read a lot here already. it's time you sit down, and list down all the various points in a organised manner. convince yourself first, before you try to bring your family round. as mentioned by several forummers, go through the whys all of you decided on this place, unless it's a spur of the moment purchase on the spot. remember a single point (esp from your parents) can veto any / all other valid points.
btw while i will not invest in this place, having a hotel `next door' sounds exciting.
hope you arrive at an acceptable decision,
lifeline
p/s: my inlaws previously signed for lakefront residences, and before the s&p, they (esp 1 of them) flip/flop so many times (even within the same day), up till the actual date, before finally letting it lapse.
august is right in that your options are (i) to refer the case to the CEA, who will make their own inquiries, and that (ii) you can seek legal advice.
but my point was that in either case, evidence of such misrepresentation would be important, otherwise you'd just be wasting your time. the CEA will ask the agent if such misrepresentations took place, the agent will say no, you have no proof.
not that you cannot try -- i'm not sure how the system works, but maybe similar misrepresentations for complaints have been lodged against her before by previous clients.
if you do this, you may or may not screw her over -- but i don't think it's likely you'll be getting your $8k back via this route. just the satisfaction of possibly having add a strike to her name in the register (if one exists).
On Sunday, after our phone call, i really wanted to make a trip dwn to CEA the next day and lodge a complaint.
On Monday after she came and flipped her words. I know its just words agst words. All in vain. But still v v v angry.
By today, i alrdy feel less angry. All i wanna do now is quickly decide if i should just walkaway. Or maybe even just go ahead? :doh:
Who knows the agent also visiting this forum, now prepare for battle. LOL.
hi esther,
while you have read through all these posts and over just 1 day gained / assimilated new knowledge, insights and arguments, and seemingly going ahead with your forfeit, i urge you to slow down and bring your parents / brother up to date with the various considerations and respect the consensus opinion. and you need to give them time to accept, if they can accept it at all.
otherwise if the property market pans out in unexpected direction, whatever rationale you have originally will be of no use. personally i think you have no choice but to carry on with the original intent, unless you can convince yourself first, and then convince the rest.
you will have read a lot here already. it's time you sit down, and list down all the various points in a organised manner. convince yourself first, before you try to bring your family round. as mentioned by several forummers, go through the whys all of you decided on this place, unless it's a spur of the moment purchase on the spot. remember a single point (esp from your parents) can veto any / all other valid points.
btw while i will not invest in this place, having a hotel `next door' sounds exciting.
hope you arrive at an acceptable decision,
lifeline
p/s: my inlaws previously signed for lakefront residences, and before the s&p, they (esp 1 of them) flip/flop so many times (even within the same day), up till the actual date, before finally letting it lapse.
Hi there! Why would having a hotel next door excite you?
Aft i discovered that there would be a hotel next door, i wanted out more.
Hi there! Why would having a hotel next door excite you?
Aft i discovered that there would be a hotel next door, i wanted out more.
sorry, was reminded of this:
http://forums.condosingapore.com/showpost.php?p=140932&postcount=28
read the thread.
of course depends on the type of hotel also. with jurong lake district and developments, hopefully is the more star type.
sorry, was reminded of this:
http://forums.condosingapore.com/showpost.php?p=140932&postcount=28
read the thread.
of course depends on the type of hotel also. with jurong lake district and developments, hopefully is the more star type.
http://en.wikipedia.org/wiki/Jurong_Lake_District
Waterfront hotel.
http://www.ura.gov.sg/skyline/skyline08/skyline08-02/text/01.htm
About 2,800 hotel rooms will also be introduced at the fringe of Jurong Gateway, next to Lakeside, to meet the increasing demand for hotel rooms and to cater to the new leisure attractions and businesses that will be introduced around Jurong Lake and Jurong Gateway.
--> sounds like chalets in east coast park? :D
Just around the corner…
http://www.ura.gov.sg/skyline/skyline08/skyline08-02/images/pg1_5.jpgWhile the Jurong Lake District may take 10 to 15 years to be fully developed, we need not wait so long to see the transformation. We present to you some of the projects that are already shaping up.
By 2009, Jurong Lake will be enhanced to facilitate water-based activities such as kayaking and dragon-boating. We will also see new facilities such as a golf resort hotel, hospital, boardwalks and wetlands being developed here.
A new Big Box development by TT International is currently under construction near the Jurong East MRT Station. This development will be similar to the Warehouse-Retail development cluster at Tampines. When ready by the end of 2009, this Big Box development will add approximately 34,000 sqm of new retail space, similar in size to the Tampines cluster.
The Jurong Entertainment Centre will also be redeveloped by next year. It will be home to Singapore’s first Olympic-sized ice skating rink.
Opps is golf resort hotel.
Regulators
03-12-11, 00:34
Esther, if you want to bring case against agent, you may be able to do it thru small claims tribunal at a small $10 fee. Your case against your agent is negligent misrepresentation leading you to buy a unit not of your choice. If you have sms asking the agent to get you alake view unit or any correspondence pointing to that, don't delete it, use it as evidence for your case. Agencies have professional indemnity insurance so it will be the insurance company paying you if you have a valid case. I don't think developer would do any refund for you
Regulators
03-12-11, 00:39
I would file a complaint against agent with cea and a small claims concurrently. Before doing that, try and get a voice record of the agent's apology to you (carry a recorder and meet her in person to discusses the issue). Once you get her admittance of her mistake on tape, your case is iron clad. Haha...i teaching you to scheme :D
I would file a complaint against agent with cea and a small claims concurrently. Before doing that, try and get a voice record of the agent's apology to you (carry a recorder and meet her in person to discusses the issue). Once you get her admittance of her mistake on tape, your case is iron clad. Haha...i teaching you to scheme :D
I think its really unlikely i will succeed. From the way she came down the next day and speak to us. She was denying everything, and when i told her she herself apologised over the phone yesterday for giving us the wrong info, she just argued her way out saying, we wont know how high the condo will be, how the developer is going to build it, so the view may not be block! She was not wrong to say that. And every singe point she denied unlike the unguarding truthful person on the previous day over the phone. I should have put her on loudspeaker and recorded what she says. But too late. I believe her fellow agent must have taught her what and how to deny everything. So trying to probe anything now is just fruitless.
bluedurian
03-12-11, 01:01
I think its really unlikely i will succeed. From the way she came down the next day and speak to us. She was denying everything, and when i told her she herself apologised over the phone yesterday for giving us the wrong info, she just argued her way out saying, we wont know how high the condo will be, how the developer is going to build it, so the view may not be block! She was not wrong to say that. And every singe point she denied unlike the unguarding truthful person on the previous day over the phone. I should have put her on loudspeaker and recorded what she says. But too late. I believe her fellow agent must have taught her what and how to deny everything. So trying to probe anything now is just fruitless.
No harm trying, though. If you're hellbent on getting even, that's sort of what you've got to do.
Regulators
03-12-11, 01:04
There is a difference between having and not having lakeview. If she tell you there is a possibility of lakeview when there is zero possibility based on the orientation of the unit, you got a case. If you need another recording, it is very simple, just meet up with her again and get everything ready, if she ask why you want to meet her again, just say you need to discuss with her a way to resolve this matter but bring up the same thing again and record what she says.
I think its really unlikely i will succeed. From the way she came down the next day and speak to us. She was denying everything, and when i told her she herself apologised over the phone yesterday for giving us the wrong info, she just argued her way out saying, we wont know how high the condo will be, how the developer is going to build it, so the view may not be block! She was not wrong to say that. And every singe point she denied unlike the unguarding truthful person on the previous day over the phone. I should have put her on loudspeaker and recorded what she says. But too late. I believe her fellow agent must have taught her what and how to deny everything. So trying to probe anything now is just fruitless.
If they are agents reading this thread, i hope they can see the impact of their job. As an agent, it is their responsibility to do homework on the property and give accurate information on property. Therefore enabling them to provide sound advise to the buyer. Many ways to earn money.
If there are clueless buyers like me reading this, hope i provided some free tuition.
Why wait 20 years? Which place in Singapore already run out of empty land to build now? Buy that place now! Wait 5 years can already huat huat huat! :p
Eh? U r CCR bull, now CCK bull? Govt is not so rich to pump in $ in so many places. Shd have not much news in nect 5 years for CCK. Next 10 years is already planned out at Jurong, Marina Bay, Seletar n Paya Lebar. Prices have reached abt 70-80% of their potential already. With 6.5 million pop in 20 years+ time, govt needs to expand e towns. CCK will b hot as it is near to greenery n Jurong Lake District, e 2nd CBD. C u in 20 years' time here to c whether my projection pans out.
If they are agents reading this thread, i hope they can see the impact of their job. As an agent, it is their responsibility to do homework on the property and give accurate information on property. Therefore enabling them to provide sound advise to the buyer. Many ways to earn money.
If there are clueless buyers like me reading this, hope i provided some free tuition.
Actually u have no case against agent bcoz e show room shd have tt big site plan for all to c. It's e 1st thing pp zoom in. Anyway u might have bought a non lake view unit w more than $8k lower pricing. Not tt bad. I wld go for e Clementi DBSS in ur case. In terms of cap appreciation, Clementi will go up much faster than $8k. Many pp here also missed VVIP discount more than $8k but still buy e pte condo. $8k is peanuts in property.
That was my initial plan if i were to stick to buying this DBSS until one forumer in one of the prev pages mentioned i cannot purchase a PC right after purchasing a HDB flat. Must wait 5 yrs or what.No need lah.. you don't buy the PC, your dad buys but you can still act as bank borrower... no problem... :sleep:
On Sunday, after our phone call, i really wanted to make a trip dwn to CEA the next day and lodge a complaint.
On Monday after she came and flipped her words. I know its just words agst words. All in vain. But still v v v angry.
By today, i alrdy feel less angry. All i wanna do now is quickly decide if i should just walkaway. Or maybe even just go ahead? :doh:
Who knows the agent also visiting this forum, now prepare for battle. LOL.The feeling you had on Sunday and Mondy is impulsive and rash in nature. The feeling you have today is more rational and clear. Any decisions made today will surely not be a result of impulsive thoughtless behavior. Now is the time to choose! Don't drag too long!
I chose not to take any action against my agent 2.5 years back. In my anger brewing period, I even penned a letter to CEA detailings all the grievances and wrongs he's committed but when that intial impulsive anger dissipated, I decided to not to send... I asked myself can I live the rest of my life not pursuing the matter further and since my answer was 'yes' I dropped the idea to take him to task. You have to decide too! Btw, I still have that letter of complaint in my PC... LOL! :rolleyes:
http://www.cea.gov.sg/cea/content/consumer/complaints/makingcomplaint.html
It will be a painful process if is just for S$8k.
Thanks,
Richard
PS. Pls google "sunk cost" and I have to say it is VERY cheap to learn this concept with just S$8K. I've learnt it with USD 100k+.
DBSS is a HDB flat. So buy liao cannot buy another property before MOP (5yrs after TOP) right? Looking at your reasonings, you would be better off taking the $8K as tuition fees for lesson on property investment and go plan/save up for a proper upgrade to your dream home lah. There are many ways to skin a cat!
Any chance dbss gets privatize next time just like the hudc?
Any chance dbss gets privatize next time just like the hudc?Sure got chance however small but certainly not in the immediate future. Not sure how the ongoing review for DBSS is? :)
Regulators
03-12-11, 14:45
showroom no showroom, misrep is misrep lah. You just need to satisfy that you relied on the negligent statement by the agent in buying a property which was not what you expected and it should be enough. In civil matters, don't have to prove beyond a reasonable double, just on a balance of probability is enough.
Actually u have no case against agent bcoz e show room shd have tt big site plan for all to c. It's e 1st thing pp zoom in. Anyway u might have bought a non lake view unit w more than $8k lower pricing. Not tt bad. I wld go for e Clementi DBSS in ur case. In terms of cap appreciation, Clementi will go up much faster than $8k. Many pp here also missed VVIP discount more than $8k but still buy e pte condo. $8k is peanuts in property.
showroom no showroom, misrep is misrep lah. You just need to satisfy that you relied on the negligent statement by the agent in buying a property which was not what you expected and it should be enough. In civil matters, don't have to prove beyond a reasonable double, just on a balance of probability is enough.
Your words against my words...how to prove?
Almost all developers are liable for lawsuits because in the brochures, they deliberately mis-represented their condo in the midst of lush greenery with ample seaview, sexy ladies in bikinis at the pool and lamborghinis at the car porch.
Currently I'm not happy with my condo purchase because I thought I'm buying into a high end condo full of young hot chicks. In reality I found that:
1) It is fully surrounded by other high-rise buildings blocking my view of the sea.
2) The swimming pool is full of old aunties with sagging boobs
3) The car porch and car parks are full of taxis and vans
Is this possible to sue? Of course above is just a hypothetical suitation :p
Down to earth looking aunty. Either she really blur not on purpose or really act pig eat tiger.
Then when found out became Roti prata woman. :hell-hath-no-fury:
So sad. We are at "mercy " of such agent... To think that they even earn a cut from us.... :(
If only we can represent ourself ....:rolleyes:
bluedurian
03-12-11, 16:07
Almost all developers are liable for lawsuits because in the brochures, they deliberately mis-represented their condo in the midst of lush greenery with ample seaview, sexy ladies in bikinis at the pool and lamborghinis at the car porch.
Currently I'm not happy with my condo purchase because I thought I'm buying into a high end condo full of young hot chicks. In reality I found that:
1) It is fully surrounded by other high-rise buildings blocking my view of the sea.
2) The swimming pool is full of old aunties with sagging boobs
3) The car porch and car parks are full of taxis and vans
Is this possible to sue? Of course above is just a hypothetical suitation :p
Brochures normally contain fine print stating that their contents do not constitute representations, warranties or statements of fact. But I do agree with you that at this point, solid proof is hard to obtain, especially since the agent's wised up.
Almost all developers are liable for lawsuits because in the brochures, they deliberately mis-represented their condo in the midst of lush greenery with ample seaview, sexy ladies in bikinis at the pool and lamborghinis at the car porch.
Currently I'm not happy with my condo purchase because I thought I'm buying into a high end condo full of young hot chicks. In reality I found that:
1) It is fully surrounded by other high-rise buildings blocking my view of the sea.
2) The swimming pool is full of old aunties with sagging boobs
3) The car porch and car parks are full of taxis and vans
Is this possible to sue? Of course above is just a hypothetical suitation :pGood point... developers are only responsible for what is written in the S&P and more recently their showflat dimensions and presentations so as not to mislead potential buyers. They are not responsible for buildings or facilities outside their development.
I guess anything outside the development will be assumed by the housing agents. On that same note, I guess housing agents owe potential buyers that same duty of care as not to intentionally mislead them. The grey issue therefore is how to accertain that the agent has intentionally lied to mislead the buyer... headache indeed! :doh:
Where do we then draw the line? As professionals, agents cannot reveal to the prospective buyer information they are not completely sure about therefore on that note, can we conclude that they have failed in their duty of care to the buyer? This is similar to the demand we have of car sales man to not say things they' re not sure of, insurance agents to not sell products or policies they are not completely certain of the clauses, or school teachers to not teach theories which are flawed or incorrect? :confused:
is there an urgency to move out now or move to a bigger place, and hence buy yuan ching dbss? if not, i will walk away and wait.
the price of getting into a big commitment at a bad time plus lousy location which u have to live there for a long time, versus losing 8k.. to me the choice is obvious.
dont forget u are living in clementi now which is quite a convenient location with mrt, once u move to yuan ching without mrt u will sure to regret. It is a hefty downgrade imo.
i also feel a lot of first-time entrants of property market (be it for hdb or private property) are affected by the property run of the past 2 or 3 years and as a result they started buying, even now. They think if they dont buy now prices will go up further, and this is quite irrational. Bcos quite a lot of investors are already out of the market and waiting at the sideline. :scared-5:
I have a friend who missed the boat in 08/09 and waited and waited until this yr cannot tahan liao went to buy a new launch at a OCR location. Now he is starting to regret.... So it pays to be disciplined and be patient and wait.
wow..first time property buyer buying at the peak of cycle will be a
very painful experience. Need to wait till next cycle to break even
at face value, not to forget inflation and opportunity cost.
Irene_kyng
04-12-11, 12:37
wow..first time property buyer buying at the peak of cycle will be a
very painful experience. Need to wait till next cycle to break even
at face value, not to forget inflation and opportunity cost.
SO, now is not a good time to buy property for 1st timer?
SO, now is not a good time to buy property for 1st timer?For any timer... LOL! :)
Sales volume is going to be ZERO this month.
For any timer... LOL! :)
Irene_kyng
04-12-11, 16:51
Was in 2 minds, should i get a unit at The Palette, can b for own stay, or for investment..Seems like it's wiser for me to adopt wait and see approach now..:)
shauntanzs
04-12-11, 17:16
Was in 2 minds, should i get a unit at The Palette, can b for own stay, or for investment..Seems like it's wiser for me to adopt wait and see approach now..:)
9 out of 10 of my friends all waiting at the sideline... Once drop a little, these people push it back right up :doh:
Like dat how to have significant drop?
rattydrama
04-12-11, 19:15
Hello lifeline
Wats the reasons for letting it lapsed? No more lifeline? :scared-5:
p/s: my inlaws previously signed for lakefront residences, and before the s&p, they (esp 1 of them) flip/flop so many times (even within the same day), up till the actual date, before finally letting it lapse.
rattydrama
04-12-11, 19:21
Sure got chance however small but certainly not in the immediate future. Not sure how the ongoing review for DBSS is? :)
In the first place, why hudc are privatised? Any hurry to privatise DBSS?
rattydrama
04-12-11, 19:23
Your words against my words...how to prove?
in her situation, it might be reasonable for her to rely on agent's info as she had nvr bou any hdb/ppty before.
rattydrama
04-12-11, 19:25
Almost all developers are liable for lawsuits because in the brochures, they deliberately mis-represented their condo in the midst of lush greenery with ample seaview, sexy ladies in bikinis at the pool and lamborghinis at the car porch.
Currently I'm not happy with my condo purchase because I thought I'm buying into a high end condo full of young hot chicks. In reality I found that:
1) It is fully surrounded by other high-rise buildings blocking my view of the sea.
2) The swimming pool is full of old aunties with sagging boobs
3) The car porch and car parks are full of taxis and vans
Is this possible to sue? Of course above is just a hypothetical suitation :p
this is water view and no view therefore quite easy for agent to provide the relevant information.
rattydrama
04-12-11, 19:31
Brochures normally contain fine print stating that their contents do not constitute representations, warranties or statements of fact. But I do agree with you that at this point, solid proof is hard to obtain, especially since the agent's wised up.
thats why we have cea...leave it to cea to investigate....
when i sold my hdb, i was told the buyer has 14 days cool off period. If the buyer decides not to buy my unit, i will need to return back the $2k options fee and the deal is off. the price the buyer is paying is not far from esther buys.
I do hope that hdb to come up with regulations to protect this group of buyers as well.
rattydrama
04-12-11, 19:41
having gone thru all the posts, wat I will say is there is no hurry to buy your dream/retirement home now @650K.
hdb 3 room flat already there for stay..small and cosy and family is close, somemore one fellow going for uni. cash tight.
forgo the 8k as there is not much upside due to restriction & far from transport. also rental may not be attractive @ 650k.
no harm to wait for 1-2 years more, search only those less than 10 yr old apartmnet/condo around mrt lines, wait for it to drop to yr budget of 800k and then buy and rent out.
during up market, the price should be good and u can sell. with the $, you decide what u want to do next. Maybe you will be married etc....
share views with family is a must but you must be certain/clear of your own views.
There are many suggestions and recommendations offered in this forum. She must discuss with family members and make the final decision herself... All the best... :cool:
The feeling you had on Sunday and Mondy is impulsive and rash in nature. The feeling you have today is more rational and clear. Any decisions made today will surely not be a result of impulsive thoughtless behavior. Now is the time to choose! Don't drag too long!
I chose not to take any action against my agent 2.5 years back. In my anger brewing period, I even penned a letter to CEA detailings all the grievances and wrongs he's committed but when that intial impulsive anger dissipated, I decided to not to send... I asked myself can I live the rest of my life not pursuing the matter further and since my answer was 'yes' I dropped the idea to take him to task. You have to decide too! Btw, I still have that letter of complaint in my PC... LOL! :rolleyes:
Lol i have the letter sitting in my PC too. Typed it on Fri night, cldnt sleep!
The location you chose is just not worth that money. I will much rather buy a small 99-year leasehold condo in another ulu place than to get this DBSS in an ulu place. In the next 10-20 years, the far west side will be mostly remembered for the shipping/factories, etc. Losing 8k now may seem a pinch but it is better than to buy and regret the location for the next 10-20 years.
Hi All, firstly a great thanks to everyone's replies here.
We made a trip down to Lakeside over the weekend to have a feel of the estate and again to view the showflat. Went home and discuss if we should just forfeit the 8k or go ahead with this DBSS.
The conclusion is to forfeit and hopefully this will be a blessing in disguise for us. :rolleyes:
The location you chose is just not worth that money. I will much rather buy a small 99-year leasehold condo in another ulu place than to get this DBSS in an ulu place. In the next 10-20 years, the far west side will be mostly remembered for the shipping/factories, etc. Losing 8k now may seem a pinch but it is better than to buy and regret the location for the next 10-20 years.
Well i feel that the Jurong Lake District sounds exciting but i really do mind the location alot. After paying a premium for this, and then realised that in the future, a condo will be build on the plot next to the living room balcony, is really just pure disappointment.
having gone thru all the posts, wat I will say is there is no hurry to buy your dream/retirement home now @650K.
hdb 3 room flat already there for stay..small and cosy and family is close, somemore one fellow going for uni. cash tight.
forgo the 8k as there is not much upside due to restriction & far from transport. also rental may not be attractive @ 650k.
no harm to wait for 1-2 years more, search only those less than 10 yr old apartmnet/condo around mrt lines, wait for it to drop to yr budget of 800k and then buy and rent out.
during up market, the price should be good and u can sell. with the $, you decide what u want to do next. Maybe you will be married etc....
share views with family is a must but you must be certain/clear of your own views.
Yup, thats kinda of what we are thinking too.
Lakeside DBSS is the 2nd showflat we have visited. 1st being Blossom Residence EC. Hence, probably due to the 'greenhorn-ess". Easily impressed.
Since we are not in a hurry to move and we love the area where we are staying. Why don't we just cool down and wait.
If property prices do come down, then that would be a bonus. Otherwise, we can probably wait till SERS comes our way or a BTO. Well, that what dear Minister KBW said on his blog right? Higher chances for 2nd time home buyer.
And with the current economy uncertainty, i think its best to take a prudent approach in selecting what to buy. Certainly not in this premium HDB flat.
rattydrama
04-12-11, 21:51
The location you chose is just not worth that money. I will much rather buy a small 99-year leasehold condo in another ulu place than to get this DBSS in an ulu place. In the next 10-20 years, the far west side will be mostly remembered for the shipping/factories, etc. Losing 8k now may seem a pinch but it is better than to buy and regret the location for the next 10-20 years.
cannot be all lah.. how you explain centris and caspian...all owners make tons of $..
Yup, thats kinda of what we are thinking too.
Lakeside DBSS is the 2nd showflat we have visited. 1st being Blossom Residence EC. Hence, probably due to the 'greenhorn-ess". Easily impressed.
Since we are not in a hurry to move and we love the area where we are staying. Why don't we just cool down and wait.
If property prices do come down, then that would be a bonus. Otherwise, we can probably wait till SERS comes our way or a BTO. Well, that what dear Minister KBW said on his blog right? Higher chances for 2nd time home buyer.
And with the current economy uncertainty, i think its best to take a prudent approach in selecting what to buy. Certainly not in this premium HDB flat.
HDB prices will not come down... Better to book the Clementi DBSS rather than wait...
Jurong East development can clearly be seen. Now the construction of the hospital is underway. The government wont expand the road network in that area for nothing. It wont be long before more land in Jurong East are sold at even higher prices. Developers can see for themselves how many golden plots such as in this area are left in Singapore.
rattydrama
04-12-11, 21:58
Yup, thats kinda of what we are thinking too.
Lakeside DBSS is the 2nd showflat we have visited. 1st being Blossom Residence EC. Hence, probably due to the 'greenhorn-ess". Easily impressed.
Since we are not in a hurry to move and we love the area where we are staying. Why don't we just cool down and wait.
If property prices do come down, then that would be a bonus. Otherwise, we can probably wait till SERS comes our way or a BTO. Well, that what dear Minister KBW said on his blog right? Higher chances for 2nd time home buyer.
And with the current economy uncertainty, i think its best to take a prudent approach in selecting what to buy. Certainly not in this premium HDB flat.
if wanna make $ from ppty, must be patient...$ can only be made if the entry price is right and the location is better than the rest of the apartment/condo in the vincity.
rite now, if you have 60% in cash, go ahead and bet, otherwise erm..
another issue is, if the market is down, will you commit? haha..so always very important to be certain/clear of your own views.
in a down market, its always better to upgrade as you get better chance to select premium location.
HDB prices will not come down... Better to book the Clementi DBSS rather than wait...
Left 3 and 4 rooms, 4 room even smaller than the current flat we are staying. How to buy?
if wanna make $ from ppty, must be patient...$ can only be made if the entry price is right and the location is better than the rest of the apartment/condo in the vincity.
rite now, if you have 60% in cash, go ahead and bet, otherwise erm..
another issue is, if the market is down, will you commit? haha..so always very important to be certain/clear of your own views.
in a down market, its always better to upgrade as you get better chance to select premium location.
60% cash of 650k to bet on up/dwn? :scared-5: mai la mai la, wa mai la.
Jurong East development can clearly be seen. Now the construction of the hospital is underway. The government wont expand the road network in that area for nothing. It wont be long before more land in Jurong East are sold at even higher prices. Developers can see for themselves how many golden plots such as in this area are left in Singapore.
I agree. But DBSS for this location, its quite difficult, if this DBSS was a EC.
Probably will sell v well.
MND will be moving to JE/JLD i think.
i agree with hyenergix, have you checked out Clementi's DBSS?
rattydrama
04-12-11, 22:39
60% cash of 650k to bet on up/dwn? :scared-5: mai la mai la, wa mai la.
if up you hold and hv enough cash to tie over. if down, buy more..LOL
As of the market situation now, there is a greater pressure for the price to come down, by how much is everyones' guess.
there is still no clear indication that the price will go up any sooner. Maybe it will move up due to SG unique situation but no one knows for sure.
what pple here saying is that 650k for DBSS in this location -they dont have so much confidence.
if you buy clementi dbss, even if it is small the upside is better and you are safe n saved.
as u mentioned that you are looking for 2 apartments - one for stay and one for rental (3room hdb)- i think your next buy cannot be based on own wish list. It must be an investment grade ppty. after you make yr $, then can decide to buy an apartment solely as yr retirement home. better to use the $ made to buy a location you are happy with then using your hard earn $ - if price dont go up as much as others you will not be so heart pain.
@ 650k you just need to wait till neck long long before seeing the price break-even...will the 2nd owner buy at such high price? if buyer willing to pay high price its gonna to win by location, so its difficult for you to offload for whatsoever reasons you have 8 yrs down the road.
The only bet is if JDL is super successful until east pple also wanna camp here. Then this location will no longer be a cmi location. Only if.
I dont think JDL is bad but this location lose out...can try cck area?...ec beside Micasa akan datang and walkable to mrt and malls.
Hello lifeline
Wats the reasons for letting it lapsed? No more lifeline? :scared-5:
not me la. never lapse on any of mine.
they went to view deciding not to buy (did not bring cheque), signed on the spot after going bank to draw money, then suffered buyer's remorse. now very very happy - cleared 2 milestones, bought something even better with me, sold off current at record high too. so happy for them.
Hi All, firstly a great thanks to everyone's replies here.
We made a trip down to Lakeside over the weekend to have a feel of the estate and again to view the showflat. Went home and discuss if we should just forfeit the 8k or go ahead with this DBSS.
The conclusion is to forfeit and hopefully this will be a blessing in disguise for us. :rolleyes:Congrats on the conclusion your family have made. However, I observe that forummers here are still giving your further advices so here's mine. Do consider getting that DBSS (so no need to forfeit the $8k) plus a 2 bedder PC. Work something out. It may serve your cause well in the near future. The only problem here probably is the amount of loan you can get so get a smaller PC lor. :cheers1:
today's paper has a breakdown of the sales performance of the three DBSS launched in Oct:
Clementi (Trivelis)
Total units: 888
Sold: 695 (78%)
Bedok (Belvia)
Total units: 488
Sold: 310 (63%)
Yuan Ching (Lake Vista)
Total units: 682
Sold: 272 (40%)
it clearly shows which is the least popular of the three projects. ;)
today's paper has a breakdown of the sales performance of the three DBSS launched in Oct:
Clementi (Trivelis)
Total units: 888
Sold: 695 (78%)
Bedok (Belvia)
Total units: 488
Sold: 310 (63%)
Yuan Ching (Lake Vista)
Total units: 682
Sold: 272 (40%)
it clearly shows which is the least popular of the three projects. ;)
OMG:doh:, forfeit the 8k and go for clementi one better.
Hi All, firstly a great thanks to everyone's replies here.
We made a trip down to Lakeside over the weekend to have a feel of the estate and again to view the showflat. Went home and discuss if we should just forfeit the 8k or go ahead with this DBSS.
The conclusion is to forfeit and hopefully this will be a blessing in disguise for us. :rolleyes:
it's great to know that your whole family has arrived at this consensus. look forward. there's always a better opportunity coming up.
if wanna make $ from ppty, must be patient...$ can only be made if the entry price is right and the location is better than the rest of the apartment/condo in the vincity.
rite now, if you have 60% in cash, go ahead and bet, otherwise erm..
another issue is, if the market is down, will you commit? haha..so always very important to be certain/clear of your own views.
in a down market, its always better to upgrade as you get better chance to select premium location.
not particularly true that you get a chance to select a premium location. I was looking for a place end of 2008 till i finally bought in mid 2009. there were not that many places for sale even though the prices were cheaper. I guess people just hung on unless desperate to sell. thus the selection was really limited.
not particularly true that you get a chance to select a premium location. I was looking for a place end of 2008 till i finally bought in mid 2009. there were not that many places for sale even though the prices were cheaper. I guess people just hung on unless desperate to sell. thus the selection was really limited.In other words, during down times, only older projects got more willing sellers coz they bought like 15 years ago when it was still say $500k when they can now sell for say $900k... in 2009 :o
Esther
finally, got time tonite to read thru the postings of this thread and realised yr family has made a decision, which I think is a wise one.
Majority of the forumers here are private property owners, as such, need to share some issues raised :
1. DBSS is a HDB flat, design, build and sell by the private developers. They set the price and not HDB even the buyers are entitled to the same type of grant. By virture of private developers, the pricing always tend to be higher. SL was the classic one.
2. DBSS flats will nvr be privatised unless there is a major change in policy. This is a politically issue.
3. If u buy a DBSS flat, u hv abt 8 yrs to wait as highlighted by one of the forumers, to buy a PC
4. if u sell a PC, u need to wait for 30 months to buy a HDB, provided ur still eligible.
Yr case is rather complicated.
First, u need to define your family necluer for the purchase, in yr name or ur parent's name? It cannot be in your own name. If it is in your parent's name, who r they gg to willl the property to?
2. when u get married, what is gg to be the arrangement?
I think for your case, save your monies first, if u can, buy a PC, and collect rental, get married, and buy a bigger PC.
At your age, u shall discuss the property purchase with your future family ie husband, as property is a longer term commitment.
good nite
Esther
finally, got time tonite to read thru the postings of this thread and realised yr family has made a decision, which I think is a wise one.
Majority of the forumers here are private property owners, as such, need to share some issues raised :
1. DBSS is a HDB flat, design, build and sell by the private developers. They set the price and not HDB even the buyers are entitled to the same type of grant. By virture of private developers, the pricing always tend to be higher. SL was the classic one.
2. DBSS flats will nvr be privatised unless there is a major change in policy. This is a politically issue.
3. If u buy a DBSS flat, u hv abt 8 yrs to wait as highlighted by one of the forumers, to buy a PC
4. if u sell a PC, u need to wait for 30 months to buy a HDB, provided ur still eligible.
Yr case is rather complicated.
First, u need to define your family necluer for the purchase, in yr name or ur parent's name? It cannot be in your own name. If it is in your parent's name, who r they gg to willl the property to?
2. when u get married, what is gg to be the arrangement?
I think for your case, save your monies first, if u can, buy a PC, and collect rental, get married, and buy a bigger PC.
At your age, u shall discuss the property purchase with your future family ie husband, as property is a longer term commitment.
good nite
Hi there, thanks for the reply. :)
it's great to know that your whole family has arrived at this consensus. look forward. there's always a better opportunity coming up.
We hope so! Otherwise, " i dunno what to say"...
OMG:doh:, forfeit the 8k and go for clementi one better.
No lah, we don't want Trivelis either. But i totally agree Clementi DBSS is better than Lakeside DBSS.
today's paper has a breakdown of the sales performance of the three DBSS launched in Oct:
Clementi (Trivelis)
Total units: 888
Sold: 695 (78%)
Bedok (Belvia)
Total units: 488
Sold: 310 (63%)
Yuan Ching (Lake Vista)
Total units: 682
Sold: 272 (40%)
it clearly shows which is the least popular of the three projects. ;)
Yup went to view Trivelis on Sat, SOLD stickers filling up the chart nicely, unlike Lake Vista. ;)
Congrats on the conclusion your family have made. However, I observe that forummers here are still giving your further advices so here's mine. Do consider getting that DBSS (so no need to forfeit the $8k) plus a 2 bedder PC. Work something out. It may serve your cause well in the near future. The only problem here probably is the amount of loan you can get so get a smaller PC lor. :cheers1:
Hi Yap, as much as i wish to keep my 8K, servicing the 650K DBSS with a 2 bedder PC, say 800K is on the riskier side, if i am unable to rent out the condo for a long period. I will be filing bankruptcy. :scared-3:
if up you hold and hv enough cash to tie over. if down, buy more..LOL
As of the market situation now, there is a greater pressure for the price to come down, by how much is everyones' guess.
there is still no clear indication that the price will go up any sooner. Maybe it will move up due to SG unique situation but no one knows for sure.
what pple here saying is that 650k for DBSS in this location -they dont have so much confidence.
if you buy clementi dbss, even if it is small the upside is better and you are safe n saved.
as u mentioned that you are looking for 2 apartments - one for stay and one for rental (3room hdb)- i think your next buy cannot be based on own wish list. It must be an investment grade ppty. after you make yr $, then can decide to buy an apartment solely as yr retirement home. better to use the $ made to buy a location you are happy with then using your hard earn $ - if price dont go up as much as others you will not be so heart pain.
@ 650k you just need to wait till neck long long before seeing the price break-even...will the 2nd owner buy at such high price? if buyer willing to pay high price its gonna to win by location, so its difficult for you to offload for whatsoever reasons you have 8 yrs down the road.
The only bet is if JDL is super successful until east pple also wanna camp here. Then this location will no longer be a cmi location. Only if.
I dont think JDL is bad but this location lose out...can try cck area?...ec beside Micasa akan datang and walkable to mrt and malls.
Ok, i will heed your advice to akan datang CCK EC. ;)
8k is only a very small sum, so don't think too much about it. Just make sure you are comfortable with your purchase and never ever buy a property on impulse.
8k is only a very small sum, so don't think too much about it. Just make sure you are comfortable with your purchase and never ever buy a property on impulse.
In relativity, 8K is probably a small sum. I will bear in mind all the advices given here by everyone. :)
Congrats on the collective decision well made... cheers! :cheers5:
Yup went to view Trivelis on Sat, SOLD stickers filling up the chart nicely, unlike Lake Vista. ;)
Prices in Clementi has only 1 direction to go: up. There are some 99LH GLS/ enbloc plots to be launched soon. The government has a very high overhead costs, so it needs land sales revenue and will not lower its land price to please developers and buyers. You will lose more than $8k if you still don't buy now.
Congrats on the collective decision well made... cheers! :cheers5:
:cheers6: :cheers5:
Good choice. Most dbss have decent location, this is the only one that's a bit off.
So now passively stay put in hdb or actively sourcing for alternatives? :o
So now passively stay put in hdb or actively sourcing for alternatives? :o
Passively stay put, waiting for sers and property prices to go dwn 20%? :p
Good choice. Most dbss have decent location, this is the only one that's a bit off.
Thanks Kane, i agree, plus the agent misrepresentation, just bad taste in mouth. Confirm not getting the dbss.
We all have made bad decision and lost loads of money before, the more important thing iis always how to bounce back.
We all have made bad decision and lost loads of money before, the more important thing iis always how to bounce back.And learn from our mistakes... i.e. not to repeat our mistakes or try to minimize our chances of making the same mistake again... :cheers1:
Powered by vBulletin® Version 4.2.2 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.