Mansionette Owner

[familyof4 0]

haha...u are interesting! Like you in most of the criterias...additionally, i can;t afford a terrace living right now, so a HB terrace-like licing also fine lah!

I love the space especially with kids, space is really important to me! their toys, and space for them to play in the house etc!

[Angel81 1]

Reasons for Buying EM:

1) Love the feel of EMs

2) Love the feel of EMs

3) Love the feel of EMs

4) Never thought of getting any other types of flats

5) Bedrooms have more privacy since it's upstairs

Other reasons like balconies and large space can be found in other types of flats too. So they are not really valid. (pardon me for being honest ) Lots of flats have balconies now. There are some EMs where owners extend living room by leveling the balconies, so not all EMs have balconies liao. Large space can be found in most old flats. EAs and jumbos have large space as well.

Of course, we did think of pros such as stable resale value, etc etc. But that was not really in our reasons for choosing EMs. We just want to enjoy staying in one. Hehe, think some pple may not get the last sentence. I think u'll need to be an EM lover to get it.

[666 0]

For me, I always want to buy an EM..like a childhood dream, was always fascinated with people staying in EM. Although my wife dont like EM..haha, she gave in coz location was good, corner & top floor EM..like pent house aredy.

Pple always say EM hard to sell etc, but im sure there are alot of EM lovers out there who appreciate since EM stop production aredy.

but my only grouse is the room and kitchen on the 1st floor is too small. I was planning to convert the room to an old folks kinda sleeping or praying area, esp those who might have problem climbing up the stairs.

[just4this 0]

I wonder, the EM i brought is already 23 years old.. 5 years down the road, will it still have good resales value, if the market went up again??? Wat u ppl think?

[Angel81 1]

Think it's the case of higher demand than supply. EMs will always be in demand since there's such a limited number of it. So the resale value should be there bah. There are older flats around Tiong Bahru area (those walk-up flats), and they are very much in demand.

[familyof4 0]

EM in a way will still have it's market. People looking for EM will still want to own one no matter what. Like Angel said, the demand is there, supply is limited...

[just4this 0]

Reasons for Buying EM:

Other reasons like balconies and large space can be found in other types of flats too. So they are not really valid. (pardon me for being honest )

Yes, i had seen other 5 rooms n EA before i setter for the EM. The space is there, but the feel is different ..hehehe

[Angel81 1]

Yes, i had seen other 5 rooms n EA before i setter for the EM. The space is there, but the feel is different ..hehehe

Haha, yupz! There's just a different feeling to EMs, compared to other HDB flats.

[Gardeline 0]

EM is my dream home and i've always wanted to buy one...

However, i can only sell my current flat next year so as to fulfil the MOP. hahaha

Can anyone share how much roughly is the instalment for EM?

thanks!

[Angel81 1]

My mthly instalment is $1,099.

But the amt will depend on what's the value, the amt of CPF/cash u dump in and the length of ur loan. So it's just a rough guideline.

[Hiera 0]

There are older flats around Tiong Bahru area (those walk-up flats), and they are very much in demand.

Hmm.. They are in demand cos of their location..

so if EMs are of good locations and stuff like that still okie de bah...

My late Granny's 3 rm flat fetched about 70k COV for a super run down 1950 design last year..If i m not wrong

And yes, her place is in tiong baruh...

Location very important bahhh

EM is a child hood dream bah...

When i was younger, visited uncles/aunties with EMs...

Since its within budget.. den just buy lor...

My monthly instalment is $14XX... both pianz, 1st time owner...

so our down payment was our cpf lo...

Edited June 12, 2009 by Hiera

[just4this 0]

Hmm.. They are in demand cos of their location..

so if EMs are of good locations and stuff like that still okie de bah...

My late Granny's 3 rm flat fetched about 70k COV for a super run down 1950 design last year..If i m not wrong

And yes, her place is in tiong baruh...

Location very important bahhh

EM is a child hood dream bah...

When i was younger, visited uncles/aunties with EMs...

Since its within budget.. den just buy lor...

My monthly instalment is $14XX... both pianz, 1st time owner...

so our down payment was our cpf lo...

Check this out i extract this form other thread:

However, even with HDB flats, they are caught between the devil and the deep blue sea --- either wait 4 years for 'expensive' new flats or else pay 'sky-high' prices for resale flats. They are rightly concerned that a $1 million HDB resale flat may not be that far-fetched.

One worry is that, despite such high prices, few buyers will feel the pinch immediately because up to 90% of the cost can be financed by long-term home loans stretching up to 30 years.

So many seldom give a second thought that if they borrow, say, $300,000 under a 30-year loan, they could ultimately cough up nearly $600,000 in total capital and interest repayments.

Another worry: If a young couple have to sink so much of their hard-earned income and CPF savings into their brick-and-cement flat, how much monies will there be left to raise a family and sent their children to university --- not to mention providing for their own healthcare and retirement needs in their golden years?

[Hiera 0]

Check this out i extract this form other thread:

One worry is that, despite such high prices, few buyers will feel the pinch immediately because up to 90% of the cost can be financed by long-term home loans stretching up to 30 years.

So many seldom give a second thought that if they borrow, say, $300,000 under a 30-year loan, they could ultimately cough up nearly $600,000 in total capital and interest repayments.

Another worry: If a young couple have to sink so much of their hard-earned income and CPF savings into their brick-and-cement flat, how much monies will there be left to raise a family and sent their children to university --- not to mention providing for their own healthcare and retirement needs in their golden years?

Thats why we didnt throw all our cpf into the downpayment... =p

Its all about calculations n how iindividuals see it bah...

[Angel81 1]

Yupz, and monthly instalment should not be the amt that goes into OA. At least there's some increase in ur OA.

[just4this 0]

Regarding the usage of CPF, i actually think it should be going into the house payment. The rules of CPF usage has been changing so much during the past 10 years. Even if u had a decent sum of 500000 in your CPF and reach the age of retirement, how much can u really withdraw for daily use? I find the amount ridiculous. And the changes in min cap of CPF changes so much, i actually think not many will get to see their money even when they die... anyway this is just my view...