Property Indicative Value
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jedamum:
...1. will not pay 750k for a HDB flat
Hi
Agree, will not pay 750k for HDB, so if the HDB is less than that say 650k or buy 99yr condo for 750k?
Given that HDB is prime areas are now ex, matching price of smaller condos somewhat, it is a tough choice to go for private or HDB. But Itake your point on the easier option to rent a 2 bedder indeed!
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the prices for HDB is kinda ridiculous now. even valuation for a 5 room high flr in Strathmore ave cost $685k and that doesn't include COV. :shock:
I kept thinking that HDB are meant to be affordable but looking at the prices now, it doesn't seem so. can buy a same size freehold in a farther estate! -
insider:
There is a time bar of 30mths for getting HDB flat directly from HDB after you have dispose of your private property.
Once purchased a private property, HDB kicks you out from buying any HDB for a certain period of time (can't remember 18 or 30 months after disposal of the private property), meaning difficult to do 'downgrade' anymore in the event of needs or whatsoever...
For buying resale flat, there is no timebar after disposing of private property; can even own both at any one time; bearing in mind that one has to maintain a min sum in the CPF retirement account for owning up to 2 property or more at any one time.
Even if in time of need and one wants to purchase flat directly from HDB, still have to take into account the resale levy (ie if you had already enjoyed the subsidy once) before HDB allows you to buy another subsidized flat from them. -
smurf:
HDB is only affordable if you compare to private housing and opt for the less matured estate.
I kept thinking that HDB are meant to be affordable but looking at the prices now, it doesn't seem so. can buy a same size freehold in a farther estate!
If one is not picky, and with low income, taking into account the AHG given, i can say it is still pretty affordable - at least better than renting in the long run. -
if the seller (private property) has no time to let buyer's bank valuer value the house, what can the buyer do? sue the seller? in this case, who will win?
let's say, accordng to buyer, they sent a lawyer letter to buyer's lawyer requesting for bank valuer to go up to the house to value, but due to some personal reason, the seller declined, in this case, whose fault?
from what I understand, only for HDB, then it is a must to do valuation, but for pte ppty? :? -
momoshop:
Besides the good views given already, let me add on other factors not expressed yet.
If you have a choice, for a budget of 750K, will you buy a 5BR HDB in Farrer road, or will you buy a 99 2BR apartment (assuming u wait for market to crash for you manage to find some good buys)? Why?
1) For budgeting, do consider the loan and interest amount in order to compare the total cost of ownership. Would buying a HDB get you a cheaper loan?
2) Are you buying the place for investment or to stay?
3) What are the historical lows and highs of both choices? Know your low side and up side. How much (paper) loss are you prepared to stomach when the property market corrects?
4) Can you wait?
5) Does the private property offer facilities that you need?
6) How much space do you need? 5BR vs 2BR?
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