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hyacinth266

50k Plus Cov For 4rm @ Bishan?

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Yup. Very low floor. For my block, highest is Level 4. How high floor I can choose. Haha!~

No much view. Other than the tree tops. No west sun, but will be afraid that MBR will be a bit dark.

Hehe I rather have a dark MBR than kenna west sun. If dark, one can just on the lights. :)

My house is also low floor.

Edited by forgotten
 

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Yup. Very low floor. For my block, highest is Level 4. How high floor I can choose. Haha!~

No much view. Other than the tree tops. No west sun, but will be afraid that MBR will be a bit dark.

Got lift?

Edited by bepgof
 

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Got lift?

Hi Bishan forumers ,

Im not sure why you can fork out 28k-50k for a 4rm bishan when u can have a 7 yr old condo in bishan with no COV.

we just bought orleander tower at 9++k upgraded from my sold ec 7++k. just moved in with my 3 small kids... When i time my watch, its 2 min 30sec to the toa payoh mrt underspass, and u be in aircon cos ntuc will be inside.

Just wanna understand more how come u chose bishan hbd at 500++when u can get the bishan EC (i believ is loft rite) at 700++? If i count rule of thumb, loan is at 1500 per mth for 25 yrs loan, N there will be no COV (n u can use it as reno fee) as bank will definitely match the seller asking price (in terms of valuation).

Puzzled..

 

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Aiyo.. no COV got COV.. is not the problem , uncle!

The problem is how much cash you need to layout upfront.

For resale flat, the only cash upfront is COV. The rest can be from cash/cpf. 25k ? 30k ?

For condo, even if no COV, also need to pay 10% cash!!!! which is 70k for a 700k condo.

 

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Aiyo.. no COV got COV.. is not the problem , uncle!

The problem is how much cash you need to layout upfront.

For resale flat, the only cash upfront is COV. The rest can be from cash/cpf. 25k ? 30k ?

For condo, even if no COV, also need to pay 10% cash!!!! which is 70k for a 700k condo.

Yes, agreed! And then also the size of the house, 500k for hdb, u get a good size, 700k for condo, what can u get?! And then no more money to renovate and buy furniture...

Edited by JeanL
 

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Hi Bishan forumers ,

Im not sure why you can fork out 28k-50k for a 4rm bishan when u can have a 7 yr old condo in bishan with no COV.

we just bought orleander tower at 9++k upgraded from my sold ec 7++k. just moved in with my 3 small kids... When i time my watch, its 2 min 30sec to the toa payoh mrt underspass, and u be in aircon cos ntuc will be inside.

Just wanna understand more how come u chose bishan hbd at 500++when u can get the bishan EC (i believ is loft rite) at 700++? If i count rule of thumb, loan is at 1500 per mth for 25 yrs loan, N there will be no COV (n u can use it as reno fee) as bank will definitely match the seller asking price (in terms of valuation).

Puzzled..

one is 5xxk

another one is 7xxk

The different is 2xxK

SGD ok.. not monopoly $$

How to compare like this.

 

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Hi Bishan forumers ,

Im not sure why you can fork out 28k-50k for a 4rm bishan when u can have a 7 yr old condo in bishan with no COV.

we just bought orleander tower at 9++k upgraded from my sold ec 7++k. just moved in with my 3 small kids... When i time my watch, its 2 min 30sec to the toa payoh mrt underspass, and u be in aircon cos ntuc will be inside.

Just wanna understand more how come u chose bishan hbd at 500++when u can get the bishan EC (i believ is loft rite) at 700++? If i count rule of thumb, loan is at 1500 per mth for 25 yrs loan, N there will be no COV (n u can use it as reno fee) as bank will definitely match the seller asking price (in terms of valuation).

Puzzled..

hmm i personally think that 200K is a lot of money... EC or non-EC, as long as the house suits the buyer's needs...

(in terms of financial commitment, space, location, etc)

COV is just one aspect of consideration. I look at housing as a total cost, doesn't mean that i will buy Flat A becos COV is $0. (Valuation can be $1mil...)

I have heard people making absurd remarks like "i cannot afford COV so i have to ballot for a DBSS". Well, put it simply, if you cannot afford the COV ($30-$40k now) , what makes u think u can afford a huge mortgage ($450-$500k?) for 30years?

But of course, i just smiled and walk away when i hear that.

 

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hmm i personally think that 200K is a lot of money... EC or non-EC, as long as the house suits the buyer's needs...

(in terms of financial commitment, space, location, etc)

COV is just one aspect of consideration. I look at housing as a total cost, doesn't mean that i will buy Flat A becos COV is $0. (Valuation can be $1mil...)

I have heard people making absurd remarks like "i cannot afford COV so i have to ballot for a DBSS". Well, put it simply, if you cannot afford the COV ($30-$40k now) , what makes u think u can afford a huge mortgage ($450-$500k?) for 30years?

But of course, i just smiled and walk away when i hear that.

that's where ppl start to get burn when one party lost the job or pay cut or **** happen.

They didn't give themselves any bandwidth.

 

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Hi Bishan forumers ,

Im not sure why you can fork out 28k-50k for a 4rm bishan when u can have a 7 yr old condo in bishan with no COV.

we just bought orleander tower at 9++k upgraded from my sold ec 7++k. just moved in with my 3 small kids... When i time my watch, its 2 min 30sec to the toa payoh mrt underspass, and u be in aircon cos ntuc will be inside.

Just wanna understand more how come u chose bishan hbd at 500++when u can get the bishan EC (i believ is loft rite) at 700++? If i count rule of thumb, loan is at 1500 per mth for 25 yrs loan, N there will be no COV (n u can use it as reno fee) as bank will definitely match the seller asking price (in terms of valuation).

Puzzled..

One reason: we are two PRs, and Natural Loft is only open for citizens. We are not eligible.

So now, you can see the priviledges of a Singapore Citizen?

 

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hmm i personally think that 200K is a lot of money... EC or non-EC, as long as the house suits the buyer's needs...

(in terms of financial commitment, space, location, etc)

COV is just one aspect of consideration. I look at housing as a total cost, doesn't mean that i will buy Flat A becos COV is $0. (Valuation can be $1mil...)

I have heard people making absurd remarks like "i cannot afford COV so i have to ballot for a DBSS". Well, put it simply, if you cannot afford the COV ($30-$40k now) , what makes u think u can afford a huge mortgage ($450-$500k?) for 30years?

But of course, i just smiled and walk away when i hear that.

Agree! Looking at housing as a total cost is smarter.

Unlike investing properties, then will be totally another story.

 

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Hi Bishan forumers ,

Im not sure why you can fork out 28k-50k for a 4rm bishan when u can have a 7 yr old condo in bishan with no COV.

we just bought orleander tower at 9++k upgraded from my sold ec 7++k. just moved in with my 3 small kids... When i time my watch, its 2 min 30sec to the toa payoh mrt underspass, and u be in aircon cos ntuc will be inside.

Just wanna understand more how come u chose bishan hbd at 500++when u can get the bishan EC (i believ is loft rite) at 700++? If i count rule of thumb, loan is at 1500 per mth for 25 yrs loan, N there will be no COV (n u can use it as reno fee) as bank will definitely match the seller asking price (in terms of valuation).

Puzzled..

Need not to be puzzled abt... Your remarks deserved to be shot dead. I'm with the "shooting" camp".

Got money say u got money leh, yr $200K kena like $2.00. If one month save 1K, take 200 months = 17 yrsssss to save leh ! You pass your PSLE math test or not!

Edited by bepgof
 

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No wonder until now, not yet save 1,000,000 for retirement, cost save 1k need 84 years.

I die liao :):sport-smiley-004:

Alamak why shoot me ...i like that say no wrong leh...200k is my old house that bring me luck n sold for a profit (cos i buy my ec at 460k when in 2003). Got wrong meh?

I am only sayng that for a good hdb at a high cov...its better to buy a private instead cos no point couging out so much cash for a public housing. I need not point out how good are private over hdb, cos to each its own...but i still think no matter how u think private still wins hdb (maybe i think alot for my kids n chij in future)

...N anyway i did not use 200k CASH for the 20%.

Heres the theory:-

Purchase price 700,000 (fpr a typical 3 bedder 110 sq mtr)

Cash (1%) of Valuation 7,000 (upon sign dotted line)

Bridging Loan 1 (4%) 28,000

CPF Lumpsum - (Avail from OA) 100,000 (assuming you two shld have this amt in ur combined OA)

Bridging Loan 2 (5,000)

END OF 2 weeks upon exercise-> U pay NOTHING except STAMP DUTY (ard 15600--> claimable from ur CPF OA in later stage)

End of 4 weeks -> U only need to pay BL 1&2 plus abit interest. (So it is ard 33k)

Rest of Loan - 560000 spread over 30 yrs (assuming you both are aroung 30 yrs old n earning combined 7k)... ery month u both pay only 1900++.

Calculation Result

Monthly Payment: S$1,932.67

Loan Amount: S$560,000

Interest Rate: 1.50%

Term of Loan: 30 years

END of 12 weeks. U will get ur dream house plus a big smile in your face n Bishan Loft Smell.

MORALE OF STORY

All in all you fork out 33k (ur own cash) + 15.6k (can borrow from ur parentsfirst). better than forking out 50k to those GREEDY SELLERS that their conditions of the house is simply dont worth ZERO COV at all.

Bro here in peace. Just sharing cos when i was in 2003 that time also high COV and thankfully chose a EC at 388 per sq ft (that time considers sky high).

See how 7 years later inflation. :)

Property sure safe. PAP sure win.

 

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Whatever people can say, condo is definitely better than HDB, the facilities, the security, the tranquility, the cleanliness etc is something HDB don't have, and if u are living or have stayed in one, you know it. But whether is HDB or condo, it is mostly about affordability, though there may be a little percentage based on choice, but these people, mostly have multiple properties. That's why the government is stepping in now...

 

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