Lala81 Hypersonic November 5, 2014 Share November 5, 2014 So he's hoping to upgrade to EC. Then downgrade later to realise profit? Seems like he only has one property which is his HDB. If 500k profit for his EC, very likely the HDB he buying will be at record prices also. Considering the estate around Lake Life (taman jurong area). true story.... so a friend turned to me for advice on lakelife ec... he's a civil servant, mid 40s, have young kids, combined income 12k, 5rm hdb fully paid, and a part-time entrepreneur (the kind who tries all kinds of things, many fail but hoping one might succeed)... i asked if the unit he targetting smaller or bigger than his hdb? he said smaller as he couldn't meet debt requirement for the big ones (1.4mil!) i asked if the ec further or closer to mrt? he said further sports facilities? his hdb is walking distance to a swimming complex.. got 2 olympic pools plus lazy river and big slide...the ec has one shallow pool. parking? his hdb is park directly downstairs. EC is one multistorey block some distance away debt? Is he willing to go back into housing debt, be more hardworking so he doesn't lose his job, and sacrifice some entrepreneur time? that one he couldn't answer so in many ways its a downgrade the clincher... ... a hopeful 500k profit in 10 years time for the kids' uni ↡ Advertisement Link to post Share on other sites More sharing options...
Mustank Hypersonic November 10, 2014 Share November 10, 2014 true story.... so a friend turned to me for advice on lakelife ec... he's a civil servant, mid 40s, have young kids, combined income 12k, 5rm hdb fully paid, and a part-time entrepreneur (the kind who tries all kinds of things, many fail but hoping one might succeed)... i asked if the unit he targetting smaller or bigger than his hdb? he said smaller as he couldn't meet debt requirement for the big ones (1.4mil!) i asked if the ec further or closer to mrt? he said further sports facilities? his hdb is walking distance to a swimming complex.. got 2 olympic pools plus lazy river and big slide...the ec has one shallow pool. parking? his hdb is park directly downstairs. EC is one multistorey block some distance away debt? Is he willing to go back into housing debt, be more hardworking so he doesn't lose his job, and sacrifice some entrepreneur time? that one he couldn't answer so in many ways its a downgrade the clincher... ... a hopeful 500k profit in 10 years time for the kids' uni nowadays resale price no good your friend shpuld think twice Link to post Share on other sites More sharing options...
Atonchia Supersonic November 10, 2014 Share November 10, 2014 EC so good meh? I got friend sold off his 2 bedrm condo, buy resales HDB masionette. From 100-140sqm. He said it's an upgrade, with more playing spaces for his 2 kids. Link to post Share on other sites More sharing options...
Kangadrool Supersonic November 10, 2014 Share November 10, 2014 I have only one word for these people; many in fact in Singapore. Over-greedy. I will trade my 4-room for a older bigger HDB, but not a smaller EC or pte condom. Better still, get those 20-30 year-old HDB built the traditional ways with ang zhng (red bricks). Rock solid! true story.... so a friend turned to me for advice on lakelife ec... he's a civil servant, mid 40s, have young kids, combined income 12k, 5rm hdb fully paid, and a part-time entrepreneur (the kind who tries all kinds of things, many fail but hoping one might succeed)... i asked if the unit he targetting smaller or bigger than his hdb? he said smaller as he couldn't meet debt requirement for the big ones (1.4mil!) i asked if the ec further or closer to mrt? he said further sports facilities? his hdb is walking distance to a swimming complex.. got 2 olympic pools plus lazy river and big slide...the ec has one shallow pool. parking? his hdb is park directly downstairs. EC is one multistorey block some distance away debt? Is he willing to go back into housing debt, be more hardworking so he doesn't lose his job, and sacrifice some entrepreneur time? that one he couldn't answer so in many ways its a downgrade the clincher... ... a hopeful 500k profit in 10 years time for the kids' uni Link to post Share on other sites More sharing options...
Enye Hypersonic November 10, 2014 Share November 10, 2014 (edited) true story.... so a friend turned to me for advice on lakelife ec... he's a civil servant, mid 40s, have young kids, combined income 12k, 5rm hdb fully paid, and a part-time entrepreneur (the kind who tries all kinds of things, many fail but hoping one might succeed)... i asked if the unit he targetting smaller or bigger than his hdb? he said smaller as he couldn't meet debt requirement for the big ones (1.4mil!) i asked if the ec further or closer to mrt? he said further sports facilities? his hdb is walking distance to a swimming complex.. got 2 olympic pools plus lazy river and big slide...the ec has one shallow pool. parking? his hdb is park directly downstairs. EC is one multistorey block some distance away debt? Is he willing to go back into housing debt, be more hardworking so he doesn't lose his job, and sacrifice some entrepreneur time? that one he couldn't answer so in many ways its a downgrade the clincher... ... a hopeful 500k profit in 10 years time for the kids' uni save 50K a year for 10 years will also get 500K for kids' uni why need to buy EC to hope? if property market downturn then kids no need to study liao Edited November 10, 2014 by Enye 1 Link to post Share on other sites More sharing options...
Mrmilktooth Supercharged November 10, 2014 Share November 10, 2014 so in many ways its a downgrade the clincher... ... a hopeful 500k profit in 10 years time for the kids' uni my 2 cents.. that location is really very poor.. granted the whole area will be developed but still .... and hope for 500K profit... might as well buy the real mature estates .. those areas appreciate much faster than ulu areas.. higher chance of making profit in 5 years time.. sell high buy higher hor... Link to post Share on other sites More sharing options...
Jamesc Hypersonic November 10, 2014 Share November 10, 2014 really, now thats a bargain. with the red coloured bricks, the estate really look like a chalet. I actually like it. Me too I really like Loyang Valley. When I was young my girlfriend stayed there so weekends when her parents were away I used to stay there too. My colleague's uncle bought 2 units there hoping for enblock to make a quick profit. He's the one scolding people that don't want to enblock and causing trouble. The things people to do for money eh? Quite a sad man really. Link to post Share on other sites More sharing options...
Swifter78 2nd Gear November 10, 2014 Share November 10, 2014 (edited) Did the agents inform the buyers there are a few blocks of rental flats behind the Lakelife EC? Edited November 10, 2014 by Swifter78 1 Link to post Share on other sites More sharing options...
Karoon Turbocharged November 10, 2014 Share November 10, 2014 (edited) So he's hoping to upgrade to EC. Then downgrade later to realise profit? Seems like he only has one property which is his HDB. If 500k profit for his EC, very likely the HDB he buying will be at record prices also. Considering the estate around Lake Life (taman jurong area). yup told him its like going one big round to be where he is now save 50K a year for 10 years will also get 500K for kids' uni why need to buy EC to hope? if property market downturn then kids no need to study liao true. not just downturn... both parties have to continue working to mke sure there's enough cpf for payment. can't really say no to the boss. and then there's interest rate uncertainty. lots of stress and prayers for 7 years... for a downgrade I have only one word for these people; many in fact in Singapore. Over-greedy. I will trade my 4-room for a older bigger HDB, but not a smaller EC or pte condom. Better still, get those 20-30 year-old HDB built the traditional ways with ang zhng (red bricks). Rock solid! the irony.... he is already in those old huge brick red flats i really hope he made a good choice. Haven't heard from him yet my 2 cents.. that location is really very poor.. granted the whole area will be developed but still .... and hope for 500K profit... might as well buy the real mature estates .. those areas appreciate much faster than ulu areas.. higher chance of making profit in 5 years time.. sell high buy higher hor... I think its nowhere near the mrt station, yet people are comparing it to lakeville, which is a few steps from an mrt station. and there is actually a nice new tall dbss there near jurong bowl with unobstructed clear view of chinese garden, at probably a third of the EC price. Edited November 10, 2014 by Karoon Link to post Share on other sites More sharing options...
Mrmilktooth Supercharged November 10, 2014 Share November 10, 2014 yup told him its like going one big round to be where he is now true. not just downturn... both parties have to continue working to mke sure there's enough cpf for payment. can't really say no to the boss. and then there's interest rate uncertainty. lots of stress and prayers for 7 years... for a downgrade the irony.... he is already in those old huge brick red flats i really hope he made a good choice. Haven't heard from him yet I think its nowhere near the mrt station, yet people are comparing it to lakeville, which is a few steps from an mrt station. and there is actually a nice new tall dbss there near jurong bowl with unobstructed clear view of chinese garden, at probably a third of the EC price. lakeville is beside the canadian school on the main road. in between the 2 mrt stations.. initially i confused lakelife with lakeville too... Link to post Share on other sites More sharing options...
Sabian Turbocharged November 10, 2014 Share November 10, 2014 nowadays resale price no good your friend shpuld think twice After signing OTP. Wait for main contractor to finish project = 3 years. MOP = 5 yrs (if sell to another SG) MOP = 10yrs (if want to sell to FT) How to foretell the price in 8 or 13 yrs? Buy EC is to stay, not flip. 1 Link to post Share on other sites More sharing options...
Mustank Hypersonic November 10, 2014 Share November 10, 2014 After signing OTP. Wait for main contractor to finish project = 3 years. MOP = 5 yrs (if sell to another SG) MOP = 10yrs (if want to sell to FT) How to foretell the price in 8 or 13 yrs? Buy EC is to stay, not flip. Top + 6 months must sell already Link to post Share on other sites More sharing options...
Sabian Turbocharged November 10, 2014 Share November 10, 2014 Top + 6 months must sell already You mean the buyer's current HDB flat? Link to post Share on other sites More sharing options...
Mustank Hypersonic November 10, 2014 Share November 10, 2014 You mean the buyer's current HDB flat? Yah Current price is not good Selling off to find the ec, need good price Link to post Share on other sites More sharing options...
Hosaybo 6th Gear November 10, 2014 Share November 10, 2014 in that position 2 years back...... Filly paid HDB and thinking of an ec. End up did not commit and instead bought a bigger HDB. Else today I sweat. Link to post Share on other sites More sharing options...
Latio2005A Turbocharged November 10, 2014 Share November 10, 2014 i only hope 2rd hdb at $18,000 still available when I retire. and hope also there are morons to buy my 5rm hdb at $1,000,000. Yes, there will be people buying at $1,000,000. But your 2room flat will cost $500,000. No free lunch ok! Link to post Share on other sites More sharing options...
Mockngbrd Supersonic November 11, 2014 Share November 11, 2014 Anyone knows roughly which bank gives the best rates nowadays? Link to post Share on other sites More sharing options...
Sabian Turbocharged November 11, 2014 Share November 11, 2014 Anyone knows roughly which bank gives the best rates nowadays?You going for fixed or floating? ↡ Advertisement Link to post Share on other sites More sharing options...
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