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Thread: Should i forgo my booking fees in DBSS?

  1. #1
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    Default 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.

  2. #2
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    Basic virus has infected DBSS buyers help ....
    Ride at your own risk !!!

  3. #3
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    And if it doesn't soften enough to your expectation, you've used your first time applicant privilege with HDB.

  4. #4
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    Everyone is trying to leverage and arbitrage.

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    Quote Originally Posted by kane
    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?

  6. #6
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    Quote Originally Posted by masterkey
    Everyone is trying to leverage and arbitrage.
    Isnt that everyone's objective?

  7. #7
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    Technically yes. It is a HDB. After 5 years, we call it resale HDB.



    Quote Originally Posted by esther
    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?

  8. #8
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    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?

  9. #9
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    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...

  10. #10
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    Quote Originally Posted by esther
    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

  11. #11
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    Quote Originally Posted by esther
    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...

  12. #12
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    i would cancel the booking


    BUT becos Yuan Ching is a crap location

  13. #13
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    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...


  14. #14
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    Quote Originally Posted by ysyap
    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?
    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?

  15. #15
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    Quote Originally Posted by ikan bilis
    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....

    Cos q no in clementi dbss is 29xx, super no chance..

  16. #16
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    Quote Originally Posted by greenhorn
    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!

  17. #17
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    current dbss are all bad buys imo.

  18. #18
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    Quote Originally Posted by proud owner
    i would cancel the booking


    BUT becos Yuan Ching is a crap location
    Kinda agree with u

  19. #19
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    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...

  20. #20
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    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...


    ( 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... ... sorry for saying that arh!! paiseh... )

  21. #21
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    Quote Originally Posted by proud owner
    i would cancel the booking


    BUT becos Yuan Ching is a crap location
    x2

    to me there is no question.

  22. #22
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    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.

  23. #23
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    Quote Originally Posted by ikan bilis
    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...
    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.

  24. #24
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    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.

    Quote Originally Posted by chengerh
    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.

  25. #25
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    Quote Originally Posted by chengerh
    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?

  26. #26
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    Quote Originally Posted by ikan bilis
    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...

    this one almost 30 yrs old liao...

  27. #27
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    Quote Originally Posted by esther
    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...

    except you need to decide where to place your own bet... nobody know if price gonna crash or not....

  28. #28
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    Quote Originally Posted by ikan bilis
    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...

    except you need to decide where to place your own bet... nobody know if price gonna crash or not....
    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.

  29. #29
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    Quote Originally Posted by esther
    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...

  30. #30
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    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.

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