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Thread: Selecting a condo

  1. #1
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    Default Selecting a condo

    Hello members,

    We are SPRs and currently living in Sengkang area. I need some expert advice on purchasing a ready condo for investment/self stay purpose.

    Since my wife's work place is in west area, I may intend to rent out the condo and rent a place near to her work place, so I am open to any location as long as it can fetch good capital appreciation and also easy to rent out place.

    I am looking to buy a 3 bedder condo (1000-1300 sqft) size with the budget of 900k to 1.05 mil.

    Based on my search that fits my budget and size, I found the below condos at reasonably good locations.

    Pls advice what area should I focus on as my current preference is wide and may not be accurate.

    West
    1 The Mayfair
    2 The Floravale
    3 The Summerdale

    CCK/Bukit Panjang
    1 Palm Gardens
    2 The Warren/ Northvale (May be over the budget)
    3 Regent Grove/Regent Heights

    North
    1 Casablanca
    2 Rosewood
    3 The Woodsvale
    4 Northoaks

    North-East
    1 The Florida
    2 The Rivervale
    3 Regentville/ Evergreen Park


    I could not find any good 3 bedder condo in east area(pasir ris, simei, tampines) that fits my budget. If there is any, I am also open to look into east area.

    Pls share your views on which area and which project would be a better choice in terms of reasonable psf/price and future appreciation.

    -Nick

  2. #2
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    Simei Green or simply buy a 2br @ Mi Casa
    Ride at your own risk !!!

  3. #3
    ikan bilis's Avatar
    ikan bilis is offline i'm Buaya ! Girls BEWARE !!...
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    ** are those near to mrt... paiseh arh... i look at location only...
    (of all, for me, i think i pick rivervale or mi-casa...)

    West
    1 The Mayfair**
    2 The Floravale
    3 The Summerdale

    CCK/Bukit Panjang
    1 Palm Gardens
    2 The Warren**/ Northvale**
    3 Regent Grove**/Regent Heights
    4 Yew Mei Green**
    5 Windermere**
    6 Mi Casa**

    North
    1 Casablanca
    2 Rosewood
    3 The Woodsvale**
    4 Northoaks
    5 Orchid park Condo**

    North-East
    1 The Florida
    2 The Rivervale**
    3 Regentville/ Evergreen Park

  4. #4
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    Thanks phantom_opera,

    I did look at simei green and changi rise condo, but seems the asking price is around 1.1 mil which is out of my budget.

    Any advice on Eastvale?

    Quote Originally Posted by phantom_opera
    Simei Green

  5. #5
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    Quote Originally Posted by nick7
    Thanks phantom_opera,

    I did look at simei green and changi rise condo, but seems the asking price is around 1.1 mil which is out of my budget.

    Any advice on Eastvale?
    buy the 969sqft 2+S in Simei Green, only 8xxk ... pretty close to 3br already, bargain you can get

    note we are in the midst of property bubble, so I am not asking you to buy, buy @ your own risk my friend
    Ride at your own risk !!!

  6. #6
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    Thanks but Mi casa is out of my budget as I am looking for 3 bedder.

    Any advice why not palm gardens? I found it at not bad location, as it is 10-15 mins walk to CCK and also 3 lrt stops away from Bukit Panjang down town line.

    Yes, the rest you mentioned are quite good. What other things should I consider to narrow down my list?

    Quote Originally Posted by ikan bilis
    ** are those near to mrt... paiseh arh... i look at location only...
    (of all, for me, i think i pick rivervale or mi-casa...)

    West
    1 The Mayfair**
    2 The Floravale
    3 The Summerdale

    CCK/Bukit Panjang
    1 Palm Gardens
    2 The Warren/ Northvale (May be over the budget)**
    3 Regent Grove**/Regent Heights
    4 Yew Mei Green**
    5 Windermere**
    6 Mi Casa**

    North
    1 Casablanca
    2 Rosewood
    3 The Woodsvale**
    4 Northoaks
    5 Orchid park Condo**

    North-East
    1 The Florida
    2 The Rivervale**
    3 Regentville/ Evergreen Park

  7. #7
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    Why not consider HDB since you are SPRs ?

    I don't understand why you buy a house to rent out and rent another place for yourselves !!!

  8. #8
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    yes, I agree with you that we are in the midst of a property bubble but I do not want to make the wait too long. I am also not sure if any major correction going to happen in 2013/14, the only this I keep hearing is over supply of properties but as long as job market is not affected, I do not see why people sell at a loss or less than market price?

    Pls enlighten with your views if I am wrong.

    There is no 2+s for sale at present so will check it out if any one is selling. I would prefer to have a 3 bedder if possible within my budget.

    Quote Originally Posted by phantom_opera
    buy the 969sqft 2+S in Simei Green, only 8xxk ... pretty close to 3br already, bargain you can get

    note we are in the midst of property bubble, so I am not asking you to buy

  9. #9
    ikan bilis's Avatar
    ikan bilis is offline i'm Buaya ! Girls BEWARE !!...
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    if mi-casa (just top-ed) out of budget, may be can consider 1259ft quintet (5yr old EC, near yew tee MRT)...
    to me, location/near mrt is more important.... the rest is your preference liow.... have fun searching....



    btw: only thing i like about palm garden is bowling alley...

  10. #10
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    Its just that we want to keep the property in case we migrate to other country or move back to home country.

    We have to sell HDB if we are out of singapore for few years.

    My reasoning to rent out condo is just to get a place near to wife's work place so that she can manage the home and kids and don't spend too much time in commuting as we don't drive.

    Quote Originally Posted by imjason
    Why not consider HDB since you are SPRs ?

    I don't understand why you buy a house to rent out and rent another place for yourselves !!!

  11. #11
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    Quote Originally Posted by nick7
    We are SPRs and currently living in Sengkang area. I need some expert advice on
    purchasing a ready condo for investment/self stay purpose.

    Since my
    wife's work place is in west area, I may intend to rent out the condo and rent a
    place near to her work place, so I am open to any location as long as it can
    fetch good capital appreciation and also easy to rent out place.
    Hi nick, just wanna know...... presently what type of housing you staying in and if it is rented or bought?
    Cos SPR will have to pay ABSD for 2nd property so you have to factor that in your cost.

  12. #12
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    Yes, I do know that. This will be first property under my name.

    Quote Originally Posted by buttercarp
    Hi nick, just wanna know...... presently what type of housing you staying in and if it is rented or bought?
    Cos SPR will have to pay ABSD for 2nd property so you have to factor that in your cost.

  13. #13
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    Hello experts,

    Any advice?

  14. #14
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    I'm no expert but just to share my thoughts...
    For investment, two key considerations, timing & location. Don't just because it is cheap and then u buy something which is not in ideal location, because when u want to sell in bad times, location super important. Good time no need to mention, anything also boleh....
    As for timing, personally I feel that even for capital appreciation, your horizon got to stretch beyond 5 yrs.


  15. #15
    ikan bilis's Avatar
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    propertyguru search with TS requirements....
    - 600K-1000K
    - 2bdr, >1000sqft
    - already top-ed, all locations

    http://www.propertyguru.com.sg/singa...gitude=&submit=

    yields only 230+ ads.... removing duplicate or fishing ads might be only about 60+ apartments fitting the requirement...

    => quite hard searching, and by feb 2013, this might be further reduced to <180 ads...

  16. #16
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    So based on my list, what area/location is worth investing? My time horizon is for sure more than 5 yrs, in fact atleast 7-8 years if not more.

    Quote Originally Posted by lajia
    I'm no expert but just to share my thoughts...
    For investment, two key considerations, timing & location. Don't just because it is cheap and then u buy something which is not in ideal location, because when u want to sell in bad times, location super important. Good time no need to mention, anything also boleh....
    As for timing, personally I feel that even for capital appreciation, your horizon got to stretch beyond 5 yrs.


  17. #17
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    Yes, list is limited for 3 bedder. That is why needed some expert views.

    One important point I forgot to mention is, I would be buying the property under mine name only. So that in future, got enough savings, can buy a small 1 bedder for investment under spouse's name.


    Quote Originally Posted by ikan bilis
    propertyguru search with TS requirements....
    - 600K-1000K
    - 2bdr, >1000sqft
    - already top-ed, all locations

    http://www.propertyguru.com.sg/singa...gitude=&submit=

    yields only 230+ ads.... removing duplicate or fishing ads might be only about 60+ apartments fitting the requirement...

    => quite hard searching, and by feb 2013, this might be further reduced to <180 ads...

  18. #18
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    look at the map, where do you think the next announcement got to come from? That's anybody's guess...

    journey to the WEST. next 2-3yrs, a lot of jobs will be created in this part of Sg and therefore, even if the economy is down, your chances of getting your unit rented out should still be better than anywhere else. From investment pt of view, stay close to the mrt or at least along the main road... budget wise it should fit your bill...compared to those in the EAST (in general).

    your guess...


    Quote Originally Posted by nick7
    So based on my list, what area/location is worth investing? My time horizon is for sure more than 5 yrs, in fact atleast 7-8 years if not more.

  19. #19
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    With your budget and wife working in Jurong, you should consider an EC in Jurong.
    How about this one at The Floravale?
    http://www.propertyguru.com.sg/listi...-the-floravale

  20. #20
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    Quote Originally Posted by buttercarp
    With your budget and wife working in Jurong, you should consider an EC in Jurong.
    How about this one at The Floravale?
    http://www.propertyguru.com.sg/listi...-the-floravale

    PR can buy ECs?

    Maybe should close up this loophole in the next CM!

    DKSG

  21. #21
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    Quote Originally Posted by DKSG
    PR can buy ECs?

    Maybe should close up this loophole in the next CM!

    DKSG
    PR can buy ECs only after the Minimum Occupation Period (MOP) of 5 years have been fulfilled.

  22. #22
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    good capital appreciation and cheapest doesn't go hand in hand.

  23. #23
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    Quote Originally Posted by DKSG
    PR can buy ECs?

    Maybe should close up this loophole in the next CM!

    DKSG
    SPR can buy resale EC.
    In this case nick7 can buy a resale EC solely under his name, ie he does not need to form a family nucleus to buy a resale EC.

    http://www.hdb.gov.sg/fi10/fi10321p....gibilityECOpen

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    yes, SPR can buy EC from resale market after 5 years of MOP and I don't think so it is a loophole in any ways.

    Quote Originally Posted by DKSG
    PR can buy ECs?

    Maybe should close up this loophole in the next CM!

    DKSG

  25. #25
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    Thanks for the link. I didnt know I can buy resale EC after 5 years under single name. I thought only after 10 years, single name is allowed.

    So this would open up few more options.

    Quote Originally Posted by buttercarp
    SPR can buy resale EC.
    In this case nick7 can buy a resale EC solely under his name, ie he does not need to form a family nucleus to buy a resale EC.

    http://www.hdb.gov.sg/fi10/fi10321p....gibilityECOpen

  26. #26
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    yes, I do understand there will always be a trade off.

    Any good recommendation?

    Quote Originally Posted by kane
    good capital appreciation and cheapest doesn't go hand in hand.

  27. #27
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    i thought the mayfair as pointed out by someone earlier is pretty decent.

  28. #28
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    yes, the mayfair is already in my list as you can see from my first post, but have not zeroed down on area. based on what I understand so far, jurong and woodlands would be transforming in regional hubs in next 7-8 years.

    So thinking in that direction and something within 1 km to MRT. Is that good enough criteria for initial screening?

    Quote Originally Posted by kane
    i thought the mayfair as pointed out by someone earlier is pretty decent.

  29. #29
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    Quote Originally Posted by nick7
    yes, the mayfair is already in my list as you can see from my first post, but have not zeroed down on area. based on what I understand so far, jurong and woodlands would be transforming in regional hubs in next 7-8 years.

    So thinking in that direction and something within 1 km to MRT. Is that good enough criteria for initial screening?
    Mayfair has got private lift and also a bowling alley. Remember to check what is their maintenance cost.

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    Market is always right, since u are so set to 3br with limited budget, don't think too hard, in 3m time price up again, market needs to draw ppl like u b4 peaking lol
    Ride at your own risk !!!

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