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wesing
01-07-10, 16:34
I am the initial owner of a 3-bedder at Woodsvale (1292 sq ft) and had stayed there since 2002.

I think the estate TOP in 2000 or 2001.

Current pricing for this above 10-year old condo (formerly an EC) is quite attractive probably because it can be sold to foreigners now. Caveats lodged in June 2010 average $546 psf. There were around 37 caveats lodged this year and 80 caveats lodged in the last 12 months.

Will there be continued demand for such old LH99 condo all the way up in Woodlands? It is less than 10 minutes walk to Admiralty MRT though and has plenty of covered parking lots.

Is it still value for money for an upgrader to get a good size but above 10-year old LH condo in suburbia area (but near MRT) at above $500 psf?

cashrich
01-07-10, 19:29
I am the initial owner of a 3-bedder at Woodsvale (1292 sq ft) and had stayed there since 2002.

I think the estate TOP in 2000 or 2001.

Current pricing for this above 10-year old condo (formerly an EC) is quite attractive probably because it can be sold to foreigners now. Caveats lodged in June 2010 average $546 psf. There were around 37 caveats lodged this year and 80 caveats lodged in the last 12 months.

Will there be continued demand for such old LH99 condo all the way up in Woodlands? It is less than 10 minutes walk to Admiralty MRT though and has plenty of covered parking lots.

Is it still value for money for an upgrader to get a good size but above 10-year old LH condo in suburbia area (but near MRT) at above $500 psf?

Duno why you as the owner (who had claimed to have stayed there for a long time) asked such a question. You had the answers years ago in finding the reason to buy. Now you should ask yourself if it is better to sell and not the otherway round (buy).

Since you ask and no one entertained you.... I give you some of my inputs...

The pricing of this condo is almost at the bottom range of all condo's.... that is a good thing.... plus near to MRT and ameneties... not too bad... the only bad thing is that it is very far from town. But there will be people buying into this condo based on the following reasons;

1. HDB upgraders around that area, buy it, live in it and rent out their HDB's.
2. People who buy as investment and for rental
3. People who downgrade from better condo's nearby or elsewhere, move in and to have cash for their disposal

The question on value... a simple answer is on the PSF... the lower it is, the better it is... at this current price.... it is still at a value simply because new Mass Market condo's are at least $7xx and above... to $1xxx or more at some places...

So value is there.

tboonk
01-07-10, 21:05
Agree that there is value at woodlands. Think fair value for woodsvale, northoaks, rosewood and Casablanca shd be $750-800k for their 3 bedders. When thomson line is announced, and with direct connectivity to jb, interest in this area will go up.

wesing
01-07-10, 21:51
Thanks Bro Cash Rich for your inputs.

I am asking the simple question because I will be selling it in around 3 years time when the new property I purchased will TOP.

Also, I did not buy this EC through careful thinking years ago as then I was still young and just wanted to own a flat without having to queue for HDB.

Well I got it at a decent price 9 years ago from capitaland. Got 30k govt grant also and free 10k unit trust somemore.

Just like to know from the experts here (good or bad feedback) whether the value will hold until I have to sell in 3 years time. The current average psf of $546 achieved from six units in June 2010 is very tempting already.

Bro tboonk: Your point on the connectivity to JB is interesting. Dunno whether it will bring about any +ve externalities to the condos in woodlands. Have to wait and see.

devilplate
01-07-10, 22:01
Thanks Bro Cash Rich for your inputs.

I am asking the simple question because I will be selling it in around 3 years time when the new property I purchased will TOP.

Also, I did not buy this EC through careful thinking years ago as then I was still young and just wanted to own a flat without having to queue for HDB.

Well I got it at a decent price 9 years ago from capitaland. Got 30k govt grant also and free 10k unit trust somemore.

Just like to know from the experts here (good or bad feedback) whether the value will hold until I have to sell in 3 years time. The current average psf of $546 achieved from six units in June 2010 is very tempting already.

Bro tboonk: Your point on the connectivity to JB is interesting. Dunno whether it will bring about any +ve externalities to the condos in woodlands. Have to wait and see.

the value shd hold pretty well...even crisis hit, may drop abit only since the prices did not enjoy a huge run up yet

cashrich
01-07-10, 22:03
Thanks Bro Cash Rich for your inputs.

I am asking the simple question because I will be selling it in around 3 years time when the new property I purchased will TOP.

Also, I did not buy this EC through careful thinking years ago as then I was still young and just wanted to own a flat without having to queue for HDB.

Well I got it at a decent price 9 years ago from capitaland. Got 30k govt grant also and free 10k unit trust somemore.

Just like to know from the experts here (good or bad feedback) whether the value will hold until I have to sell in 3 years time. The current average psf of $546 achieved from six units in June 2010 is very tempting already.

Bro tboonk: Your point on the connectivity to JB is interesting. Dunno whether it will bring about any +ve externalities to the condos in woodlands. Have to wait and see.

no worries....

If I were you, I would sell and keep the cash... get it?

Those who bought at 97 peak didn't expect prices to crash in 98.

Those who bought at 07 peak didn't expect prices to crash in 08...

Get the point? go by index alone will help you... base year 100.... it is now above 180? just sell....especially when your other condo top in 3 years too... I would not want to be caught in a situation when both of them are low low price.

But if you have the money... just sit out any recession/correction/crash.. it will be back to normal after sometime. Pushed up by new EC's. It's a bet

wesing
02-07-10, 10:54
Would love to sell the unit now if can get the current psf!

But then where to live after that for the next 3 years plus? My new condo will only TOP no later than Dec 2014.:beats-me-man:

Anyway, got make from this property already. Don't think it will drop below $450 psf durin the next crash right?

Thanks for the advise. Worst case scenario would be to rent out the unit when new condo TOP.

devilplate
02-07-10, 11:07
Would love to sell the unit now if can get the current psf!

But then where to live after that for the next 3 years plus? My new condo will only TOP no later than Dec 2014.:beats-me-man:

Anyway, got make from this property already. Don't think it will drop below $450 psf durin the next crash right?

Thanks for the advise. Worst case scenario would be to rent out the unit when new condo TOP.

got $ to hold...just hold...sell liao stay whr...not unless u got another ppty

...unless u sell and buy a smaller HDB....3yrs later can rent out legally and move into ur new condo+some cash on hand....can scoop gd deals if prices crash....idea?:D

but if HDB decide to change the MOP period later on...dun blame me hor

cashrich
02-07-10, 11:33
Would love to sell the unit now if can get the current psf!

But then where to live after that for the next 3 years plus? My new condo will only TOP no later than Dec 2014.:beats-me-man:

Anyway, got make from this property already. Don't think it will drop below $450 psf durin the next crash right?

Thanks for the advise. Worst case scenario would be to rent out the unit when new condo TOP.

If got money.. to keep is the best... no way to get bottom prices that were 10 years back.. so it is a sure win in that case.

If no money... have to do something in the middle.

But if you are smart... can do both but not at the same time.. sell, take cash, invest in other areas, hope for crash, buy newer, better projects with greater room for appreciation when window comes... so many possibilities... only if you are smart enough.

Plain jack should just sit beside the bean stock as it will grow taller and taller without doing anything. Smart ones would have done something else to have more bean stock.

Play it like monopoly.... collect properties and make money everytime someone rents it from you.

I will sell to take cash... cash rich! Then use the 50% cash to buy HDB in Yishun... bigger, cheaper and more value. But it has to be near MRT and bus interchange. I would have solved my stay problem, lock in current high prices (winner), have cash to do some magic and finally, can rent out when my project TOP. My guess... estuary?

devilplate
02-07-10, 11:37
If got money.. to keep is the best... no way to get bottom prices that were 10 years back.. so it is a sure win in that case.

If no money... have to do something in the middle.

But if you are smart... can do both but not at the same time.. sell, take cash, invest in other areas, hope for crash, buy newer, better projects with greater room for appreciation when window comes... so many possibilities... only if you are smart enough.

Plain jack should just sit beside the bean stock as it will grow taller and taller without doing anything. Smart ones would have done something else to have more bean stock.

Play it like monopoly.... collect properties and make money everytime someone rents it from you.

I will sell to take cash... cash rich! Then use the 50% cash to buy HDB in Yishun... bigger, cheaper and more value. But it has to be near MRT and bus interchange. I would have solved my stay problem, lock in current high prices (winner), have cash to do some magic and finally, can rent out when my project TOP. My guess... estuary?

ooo...we tink alike wor:cheers1:

BUT....will his wifey willing to downgrade to HDB for 3yrs?:D

wesing
02-07-10, 14:42
My wife is the extreme risk averse type - one that only believes in putting the $ in POSB. Took me enormous efforts to convince her to use our spare $ to settle the downpayment for the MM unit at Cube 8.:banghead:

Dun think she will agree to selling our Woodsvale condo now and investing the proceeds as recommended. Probably have to go into divorce proceedings if I do that.

mantrix
02-07-10, 19:52
My wife is the extreme risk averse type - one that only believes in putting the $ in POSB. Took me enormous efforts to convince her to use our spare $ to settle the downpayment for the MM unit at Cube 8.:banghead:

Dun think she will agree to selling our Woodsvale condo now and investing the proceeds as recommended. Probably have to go into divorce proceedings if I do that.

at least when prices were around 300+psf you didn't sell - so good move already :cheers1:

cashrich
02-07-10, 22:42
ooo...we tink alike wor:cheers1:

BUT....will his wifey willing to downgrade to HDB for 3yrs?:D

Yup! :) same thinking...

There's another critical part of the equation... minister of home affairs... the wife. Not much any other choice...

From what was shared... they will never move out of their condo unless the queen gets another better and bigger condo... the MM at cube 8 is for investment only...

Keep all the cash to pay outstanding loan for the EC... sell MM when price is right... thereafter... get a HDB just for rental with compliance to the Minimum occupation period or lock 1 room. You will be on the winning side.

devilplate
02-07-10, 22:51
confusing...so now the new ppty at cube8 is for investment?

if tats the case, dun even tink of selling woodsvale rite? lol...just nid to chant propertism:D

cashrich
04-07-10, 02:47
confusing...so now the new ppty at cube8 is for investment?

if tats the case, dun even tink of selling woodsvale rite? lol...just nid to chant propertism:D

U got it...

simply husband want to sell but wife said no... husband worried that price may fall later.. anyway wife will never move in to cube 8... that is so predictable. Only way out, sell cube 8.

peterng8
04-07-10, 11:21
I am the initial owner of a 3-bedder at Woodsvale (1292 sq ft) and had stayed there since 2002.

I think the estate TOP in 2000 or 2001.

Current pricing for this above 10-year old condo (formerly an EC) is quite attractive probably because it can be sold to foreigners now. Caveats lodged in June 2010 average $546 psf. There were around 37 caveats lodged this year and 80 caveats lodged in the last 12 months.

Will there be continued demand for such old LH99 condo all the way up in Woodlands? It is less than 10 minutes walk to Admiralty MRT though and has plenty of covered parking lots.

Is it still value for money for an upgrader to get a good size but above 10-year old LH condo in suburbia area (but near MRT) at above $500 psf?


Hi, can sell if you wish...I have been following woodlands price..in 2008 3 bedders at northoak and other etc..ave around 500K and it has climbing now close to 700K .....

wesing
04-07-10, 19:40
MM is for self stay. We have no kids and therefore current 3-bedder is too big for two of us. Also, traveling to work in town every day is a pain. Shifting to Balestier/Thomson area will save some petrol although many may find this project sucks.

I started the thread to seek opinion whether to sell my Woodsvale condo (which already fully paid for) as current pricing is attractive or to wait till my MM TOP in Dec 2014. My concern is whether the pricing for Woodsvale will hold till then.

cashrich
05-07-10, 14:32
MM is for self stay. We have no kids and therefore current 3-bedder is too big for two of us. Also, traveling to work in town every day is a pain. Shifting to Balestier/Thomson area will save some petrol although many may find this project sucks.

I started the thread to seek opinion whether to sell my Woodsvale condo (which already fully paid for) as current pricing is attractive or to wait till my MM TOP in Dec 2014. My concern is whether the pricing for Woodsvale will hold till then.

Thanks for the clarifications. It is much clearer and not as expected. Anyway it's your own choice. Next time just ask a simple question on "would the value hold or not". To which, it is anybody's guess, as good as not asking. Finally, it is your luck. If scared value drop, just sell (no balls). If not scared, just hold (got guts).

From what was shared, it is also inferred that wife don't mind to downgrade to a smaller studio.. what is going to happen to her walk in closet? Women always like a bigger and better (cars, house, etc... now its smaller... ) Simply illogical.

No kids in a EC 3 bedder for 10 years is even more ridiculous... could have moved out (within 5 years), sell or and hold the house for rental...(after 5 years). You would have made more money 2 ways... 1 rental gain and 2 capital gain on your 2nd pte ppty. Be smarter!

wesing
05-07-10, 15:29
Wife is cool with smaller house as it takes less effort to clean. She is the ultra-clean type - she spent hours every week wiping/cleaning furniture, windows, floor and toilets as we do not have a maid.

As to why we stick to a 3-bedder until now, we tried to have kids but failed despite going through 2 IVG procedures. Finally gave up this year and bought the MM at Cube 8.

Also, we are not as savy as many of the bros here. So did not know how to make more money with what we have. But then, the problem is my wife is extremely risk averse. So lan lan lah:banghead: :banghead:

Will hold on to Woodsvale until the MM TOP. Anyway, I think I should make some from this EC. Just a matter of more or less only. Let's see how's my luck go in 3-4 years time.

If mkt bad then, the most hold and rent it out lor. Anyway, it is already fully paid for. Only problem is that it will be siong siong to service the MM loan.

cashrich
05-07-10, 16:24
Wife is cool with smaller house as it takes less effort to clean. She is the ultra-clean type - she spent hours every week wiping/cleaning furniture, windows, floor and toilets as we do not have a maid.

As to why we stick to a 3-bedder until now, we tried to have kids but failed despite going through 2 IVG procedures. Finally gave up this year and bought the MM at Cube 8.

Also, we are not as savy as many of the bros here. So did not know how to make more money with what we have. But then, the problem is my wife is extremely risk averse. So lan lan lah:banghead: :banghead:

Will hold on to Woodsvale until the MM TOP. Anyway, I think I should make some from this EC. Just a matter of more or less only. Let's see how's my luck go in 3-4 years time.

If mkt bad then, the most hold and rent it out lor. Anyway, it is already fully paid for. Only problem is that it will be siong siong to service the MM loan.

Cool... took my comments pretty well.. respect for you. :)

Not to worry, you are moving up from the bottom... so even if it is at a peak now (which may not be the case as it could go up further)... it will not fall through the bottom... you will still gain something if you sell anytime later.

Caveat is if it should fall below your initial purchase price, then the whole of Singapore would be falling in tandum. This would severely affect the Luxury market, before Mass Market, followed by EC and then HDB's. This the logical order.

Can always keep your EC and use rental to finance your MM. :cool:

kurby
05-07-10, 18:12
If you really want to lock in your gains, sell the house now and rent...

You are sitting on a 150-200K gain now, even after all stamp duty and agent comm....

Sell the house now....go rent a HDB for the next 3 years...cost of renting a small HDB, prob 1-1.2k per month, for 3 years, it will cost you 36-43K or so...could be less if property TOP earlier (which often is the case)...

So you could still lock in 100-150K gain now....But do this only if you think prices are not sustainable....

cashrich
06-07-10, 09:54
If you really want to lock in your gains, sell the house now and rent...

You are sitting on a 150-200K gain now, even after all stamp duty and agent comm....

Sell the house now....go rent a HDB for the next 3 years...cost of renting a small HDB, prob 1-1.2k per month, for 3 years, it will cost you 36-43K or so...could be less if property TOP earlier (which often is the case)...

So you could still lock in 100-150K gain now....But do this only if you think prices are not sustainable....

Good Advice... no need to rent HDB.. can move in to ready built MM units at cheap rates of $1k to $3k depending on location. Maybe consider the sail if budget is on the higher end. City Living.. If want to buy... $below $500k also have.

PRIVATE Condo
$499k
($1,220psf)
THE LOFT
10
6.64
1
409
01 Jul
Add


Be cash rich now!

devilplate
06-07-10, 10:18
If you really want to lock in your gains, sell the house now and rent...

You are sitting on a 150-200K gain now, even after all stamp duty and agent comm....

Sell the house now....go rent a HDB for the next 3 years...cost of renting a small HDB, prob 1-1.2k per month, for 3 years, it will cost you 36-43K or so...could be less if property TOP earlier (which often is the case)...

So you could still lock in 100-150K gain now....But do this only if you think prices are not sustainable....

u mean 2rm hdb flat for 1.2k? possible but its rare and usually illegal rental....those rent from hdb and sublet again.

3rm flat in gd areas at least 1.6kupwards. sell and buy a 3rm flat wud be better....can find below 20k cov...later on turn it into cash cow....mooo

devilplate
06-07-10, 10:22
Good Advice... no need to rent HDB.. can move in to ready built MM units at cheap rates of $1k to $3k depending on location. Maybe consider the sail if budget is on the higher end. City Living.. If want to buy... $below $500k also have.

PRIVATE Condo
$499k
($1,220psf)
THE LOFT
10
6.64
1
409
01 Jul
Add


Be cash rich now!

btw, its not possible to find MM units at 1k pm

i wud say at least 1.6k++ and those cud be even those partioned walk up studios

recently TOP MM units r asking 2k up.

if sell now...isit better to buy a pte MM unit or a 3rm flat? still possible to find a 3rm flat less den 300k (inclusive of cov)....more cash on hand:D

flxcat
06-07-10, 10:38
btw, its not possible to find MM units at 1k pm

i wud say at least 1.6k++ and those cud be even those partioned walk up studios

recently TOP MM units r asking 2k up.

if sell now...isit better to buy a pte MM unit or a 3rm flat? still possible to find a 3rm flat less den 300k (inclusive of cov)....more cash on hand:D

Buying 3rm HDB do sound good with lower cash outlay
But be prepared for lifestyle shift eg no parking lot if come back late, corridor packed with things or laundry.
IMO do it by all means but be mentally ready for it.

cashrich
06-07-10, 12:11
btw, its not possible to find MM units at 1k pm

i wud say at least 1.6k++ and those cud be even those partioned walk up studios

recently TOP MM units r asking 2k up.

if sell now...isit better to buy a pte MM unit or a 3rm flat? still possible to find a 3rm flat less den 300k (inclusive of cov)....more cash on hand:D

Yes... those were for 1 room, Correct myself here as the previous one was for 1 room's. There's a difference between 1 room and a studio (MM).... 1 room less than 1K per month plenty... Studio less than $3k per month also plenty but not likley to find any asking less than 1K per month.

Agree with you that it is better to place the money in a good 3 or 4 room flat.