4rm Flat - Worth Buying?

[tatlee 0]

As Applefreak put it so starkly clear, ARE YOU ABLE TO AFFORD IT? I dont mean to belittle anyone, but if you think its a worthwhile investment & the price reflects the true value in the area, by all means, buy it. Note of caution, ensure you have enough cash/CPF to fund your purchase for say, next 20 years?

Im also staying in AMK. Just bought an unit in Sept07. 4 bus stops from central. Cost = $275K incl COV. High floor & corner. Downside, its an old flat. Upside, we fully paid for it using CPF & cash.

My advice to would be HDB buyers, esp hot units, do your maths!!!

If you have only 1 property to live in, it is 'consumption', not an investment.

[vicenzo70 0]

Hi all, thanks for your valuable advices. I've been searching for a flat in AMK area since Jun 2006. Haven't been able to see any decent ones that is priced reasonably. Just last week, view a 30yr old unit at Blk 426 and it was in a very bad state. And guess what the owner is asking for 50K cash! That's why I'm really tempted to buy the one that I've stated there earlier as the place was just situated next to the AMK hub and it's quite nicely done up.

But I just scared that 10yrs down the road, I have problem selling the flat at a better price.

vicenzo70, you are really lucky. So envy...

Florabliss Hi

Lucky? No lah. Believe me, we have been searching for a suitable unit in AMK for about 1 year. Why AMK is becoz my in-laws stays there. So I fully understand why you & your HTB wanted AMK as your first choice.

During our HDB hunting, we have eliminated AMK blocks 350s, 700s & 596s as the valuation is staggering. The COV is also mind boggling We decided that we shouldnt pay $350k & above (valuation only) for a 4 room. So we focus on the outskirts of AMK. And truly, we did come across some decent units (clean, well kept & most importantly, seller not asking for the sky) but the door direction dont compliment our Bazi.

So, dont give up. There's some good units in AMK. Your time will come. Patience is the key here. Happy hunting!!

Vince

[TYM 0]

$480K is definitely too high for me.

Do consider Serangoon area (not serangoon north), near to Bishan, TPY and AMK (do check the 2km radius, maybe you can still qualify for the $40k grant). Valuation is lower as compared to above 3 areas, yet within close proximity of them. With the circle line and possible new shopping centre coming up near the current serangoon interchange, this is an estate worth considering. Btw, me no property agent , just that stayed in this estate for abt 8 years and moved out recently. Nice environment.

[ssilentracer 0]

I think is too expensive for a place tat small. Personally, with that kind of $$, I can go for bigger flats and higher floors. But then if you are looking at that area due to some reasons, then I think you can look around for more units around that area before you decide.

[Max383 1]

If his parents stay near Bishan, you may want to consider Bishan as well.

I have seen those new 4rm flats at AMK... at 91sqm... the place is quite small (esp living room space) and usually have a few odd corners. Older flats between 8 to 25 years old in Bishan is much more spacious. Most are also cheaper than the ones near AMK hub. My view.... don't attached too much plus points for the flat being near to AMK Hub... afterall... how often exactly do you have to visit the hub?

What is important is the distance to work... which, like it or not, you must take that trip at least 5 times a week.

Personally, I don't mind older flats that is not nicely done up... then you have a free hand... create the home that you want... a home that completely suits your needs. Sure... its hard work .... but your home leh... the efforts are worth the while. What's crucial is the flat's layout... cause you cannot really change that.

My two cents.

Hi,

Need some opinion.

Do you think it is worth to spend $480K (including 50K COV) on a 4RM HDB resale flat in AMK Central? The 6 yr old flat is a corner unit, above 18 floor. Floor area is 91 sqm. It relatively new and minimum renovation required.

Thanks!