First-timer In Buying A Hdb Flat

[worldangel 0]

Hi, new to this forum though I have been lurking around here for a while

My hubby and I have just gotten a HLE Loan of around 260k and we have started looking around for a suitable house. So far we have only viewed one house but going to view another few over the next few days.

My question is: what do we need to look out for when we are looking for a house? The first house we viewed is at a location which is suitable but it seems to have signs of water leakage in the master bedroom toilet, maybe that's why the cov was low, just 5k.

Another question is: is it acceptable to take pictures of the house when we are viewing it?

Thanks

[mrspiglet 2]

Hi, new to this forum though I have been lurking around here for a while

My hubby and I have just gotten a HLE Loan of around 260k and we have started looking around for a suitable house. So far we have only viewed one house but going to view another few over the next few days.

My question is: what do we need to look out for when we are looking for a house? The first house we viewed is at a location which is suitable but it seems to have signs of water leakage in the master bedroom toilet, maybe that's why the cov was low, just 5k.

Another question is: is it acceptable to take pictures of the house when we are viewing it?

Thanks

hi worldangel! Welcome here!

apart from deciding the location, the requirements that u have (high floor, lift landing etc), there's also other factors to consider like the renovation cost. Some flat may look alright at 1st, but when u take over the flat, u may realised u'll need to chge the windows/grills/gates, do extensive plastering, hacking of tiles (floor/wall). These are potentially the things that u may wanna take note of when balancing ur budget. I made some notes abt picking a flat for my own reference should i shift in future, see if it can help u? http://mrspigletreno.blogspot.com/2009/03/...-in-search.html

i dun think owners will allow u to take pic when viewing. If u want can always politely ask them if they mind.

[worldangel 0]

Hi, thanks for the advice I am taking a look at your blog now.

I will be going to view 2 places tomorrow, keeping my fingers crossed!

[garfy_ting 0]

hi there!

im also VERY new to this forum.. but have heard of it in the past few mths as i try to get myself as prepared as possible in case im getting my new flat soon.. i guess we are very much in the same boat.. 1st time hme owners-to-be.. somehow feels a bit lost.. though have "shopped" for new home with my family before, but its still a very new experience cos im now "shopping" for a new flat to start my own family.. having some advice from pple who has being thrgh it will be nice..

well, i applied for BTO n juz got my queue no.. nt too bad.. but hope will be able to get something that we both like.. since we applied for the BTO in early Mar, my bf n i have been doing some hmework here n there.. we went to walk walk in departmental stores like Best Denki, Courts, Ikea, Harvey Norman, etc.. to do market research on the price range of furnishings and also to get a rough idea of wat each other's home idea is like.. this helps us in coming up with a more realistic budgetting on how much to put aside from nw til the day we get our flat (if we manage to get it this time round!).. but since nothing is concrete yet, we could only do rough estimates here n there.. but gd learning experiences for us though.. at least it makes us look forward to getting our own home soon..

i used to want to get resale flats, cos they are more spacious! but nw come to think of it, think its nt very realistic to do so.. cos the average resale price of a 5 room flat is abt $500k, vs the $300k for a new one.. even if u managed to find a resale flat with move-in condition, the difference in price of $200k will be more than enough for renovating your new flat n getting it well-furnished.. but then again, if you want to stay in a particular area, and u cant get a new flat there, then mayb got to settle for resale.. thats wat i will do at least..

gd luck in your hse hunting too!

[everylinetellsastory 0]

hi worldangel! Welcome here!

apart from deciding the location, the requirements that u have (high floor, lift landing etc), there's also other factors to consider like the renovation cost. Some flat may look alright at 1st, but when u take over the flat, u may realised u'll need to chge the windows/grills/gates, do extensive plastering, hacking of tiles (floor/wall). These are potentially the things that u may wanna take note of when balancing ur budget. I made some notes abt picking a flat for my own reference should i shift in future, see if it can help u? http://mrspigletreno.blogspot.com/2009/03/...-in-search.html

i dun think owners will allow u to take pic when viewing. If u want can always politely ask them if they mind.

Hi, i agreed with mrspiglet notes, do think carefully on your PRIMARY AND PRIORITY purpose of getting a resale flat or a BTO flat. the difference is alot. Think in terms of wealth accumulating and that should be easier to set out an overall picture, thereafter once decided that you really need a resale flat, itemised your immediate needs and budget allocation.

For a start, if you need some reno advices. you can visit my website too. if it helps.

http://www.everylinetellsastory-id.com/200...hapter-one.html

last but not least, u can also PM me if got any questions.

[Eternity92 0]

hi there!

im also VERY new to this forum.. but have heard of it in the past few mths as i try to get myself as prepared as possible in case im getting my new flat soon.. i guess we are very much in the same boat.. 1st time hme owners-to-be.. somehow feels a bit lost.. though have "shopped" for new home with my family before, but its still a very new experience cos im now "shopping" for a new flat to start my own family.. having some advice from pple who has being thrgh it will be nice..

well, i applied for BTO n juz got my queue no.. nt too bad.. but hope will be able to get something that we both like.. since we applied for the BTO in early Mar, my bf n i have been doing some hmework here n there.. we went to walk walk in departmental stores like Best Denki, Courts, Ikea, Harvey Norman, etc.. to do market research on the price range of furnishings and also to get a rough idea of wat each other's home idea is like.. this helps us in coming up with a more realistic budgetting on how much to put aside from nw til the day we get our flat (if we manage to get it this time round!).. but since nothing is concrete yet, we could only do rough estimates here n there.. but gd learning experiences for us though.. at least it makes us look forward to getting our own home soon..

i used to want to get resale flats, cos they are more spacious! but nw come to think of it, think its nt very realistic to do so.. cos the average resale price of a 5 room flat is abt $500k, vs the $300k for a new one.. even if u managed to find a resale flat with move-in condition, the difference in price of $200k will be more than enough for renovating your new flat n getting it well-furnished.. but then again, if you want to stay in a particular area, and u cant get a new flat there, then mayb got to settle for resale.. thats wat i will do at least..

gd luck in your hse hunting too!

The price difference between resale and new flat is definitely not so wide. Firstly, new flats are no longer going for 300k..unless it is in areas which are up north like woodlands but still you will pay around 360k. If you look at developed areas like commonwealth, it will cost you at least 500k for a new flat. Resale flat need not be 500k.. it all depends where you want to stay in. 5 room flat ranged from 350k(deep inside Jurong) to 720k (Tiong Bahru).

For new flat, have you factor in renovation cost + interest (if you need to get a loan)? For resale flat, specify to your agent you want to buy a flat that is at least decently renovated. You will save alot becuase you will just need to touch -up (painting, chemical wash, do a few cabinets) rather than the whole house. It is good for young couple as we are low on cash.

If you choose any area near to parents, you will get 40k off the resale price. This is something buyers of new flat are not entitled to unless you are getting DBSS flats.

Lastly, you don't have the pain to ballot and wait for new flat to be constructed if you buy resale.

Hope this will help in your decision making process.

[garfy_ting 0]

The price difference between resale and new flat is definitely not so wide. Firstly, new flats are no longer going for 300k..unless it is in areas which are up north like woodlands but still you will pay around 360k. If you look at developed areas like commonwealth, it will cost you at least 500k for a new flat. Resale flat need not be 500k.. it all depends where you want to stay in. 5 room flat ranged from 350k(deep inside Jurong) to 720k (Tiong Bahru).

For new flat, have you factor in renovation cost + interest (if you need to get a loan)? For resale flat, specify to your agent you want to buy a flat that is at least decently renovated. You will save alot becuase you will just need to touch -up (painting, chemical wash, do a few cabinets) rather than the whole house. It is good for young couple as we are low on cash.

If you choose any area near to parents, you will get 40k off the resale price. This is something buyers of new flat are not entitled to unless you are getting DBSS flats.

Lastly, you don't have the pain to ballot and wait for new flat to be constructed if you buy resale.

Hope this will help in your decision making process.

[garfy_ting 0]

yup, the BTO that i applied is in woodlands, which is exactly where my bf n i intended to look ard for a flat.. the 5 room units are going for abt 250k-290+k, which is still below 300k.. i have also checked on hdb website for resale prices of flats in woodlands, it ranges between 290+k-350k, i think.. checked it quite some time back, so i dunno whether the economic recession has lower the price..

we have roughly factored in renovation cost already.. but that is something that will need to save over the next 2yrs, while the flat is building.. as compared to getting a resale flat, u will need the cash almost immediately.. i dun think that is very helpful for cash strapped couples leh..

[charemme 0]

We came across the same issue 2 yrs ago when we looking for a flat, some how I guess we are lucky to get a flat on our 1st application during HDB last WIS.

and at a cheap price too.

I do have friends who bought resale at $0 COV, but dont forget about Agent fee.. which is still a few K

I do agree that is a bit tough for couples who are cash strapped.

Back to worldangel's qns, i think you should consider factors

1) price vs the years you be staying there. (I dun mind paying more for a hse that will last me a lifetime

2) Reno cost

3) your financial situation for price of a resale and also reno

4) surrounding environment and neighbours, signs of ah long case etc

** I have kaypohs neighbours, and my hse was splash paint after the 8th mths**

5) condition of a house

6) location and accessiblity

[Eternity92 0]

yup, the BTO that i applied is in woodlands, which is exactly where my bf n i intended to look ard for a flat.. the 5 room units are going for abt 250k-290+k, which is still below 300k.. i have also checked on hdb website for resale prices of flats in woodlands, it ranges between 290+k-350k, i think.. checked it quite some time back, so i dunno whether the economic recession has lower the price..

we have roughly factored in renovation cost already.. but that is something that will need to save over the next 2yrs, while the flat is building.. as compared to getting a resale flat, u will need the cash almost immediately.. i dun think that is very helpful for cash strapped couples leh..

My wife and I belong to the cash strapped category. To get around this, we look to resale. We bought our 5 room flat at 25k below valuation and the place is nicely done up. To add extra like walk-in wardrobe and to redo one toilet, we are quoted less than 10k. This helps alot as money can be spent on wedding. You also don't have to get a renovation loan. Bearing in mind no matter how nice the renovation is when u sell your place the next time, it is not going to help you fetch a higher price. What you pumped in now you can't take away with you when you sell. Spend on things you can take along like mattress or a nice sofa.

[alicia_yong 0]

yup, the BTO that i applied is in woodlands, which is exactly where my bf n i intended to look ard for a flat.. the 5 room units are going for abt 250k-290+k, which is still below 300k.. i have also checked on hdb website for resale prices of flats in woodlands, it ranges between 290+k-350k, i think.. checked it quite some time back, so i dunno whether the economic recession has lower the price..

we have roughly factored in renovation cost already.. but that is something that will need to save over the next 2yrs, while the flat is building.. as compared to getting a resale flat, u will need the cash almost immediately.. i dun think that is very helpful for cash strapped couples leh..

Hi garfy_ting! Me too, applied for the BTO for woodlands & i've selected a unit alr. =)