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Upgrade to EC

Starhub

By Starhub,
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Karoon

Karoon

Turbocharged

I think there's too many EC round the Punggol area - and come time to sell, there's going to be some very disappointed people that won't be getting the sorts of prices they hoped.

We almost bought - but at the end of the day didn't quite make sense for self stay....sell our 5 room for $500k, buy an EC of similar size for $1million.....$500k of debt to have a pool downstairs and possible sell in 10 years time? I don't think that's a prudent decision...

 

 

when EC TOP 2 years down the road, your 5 room will probably fetch 400k (as market watchers predict), and debt is 600k.

 

New 600k debt for a smaller unit than your hdb i bet.

 

that's what bugs me about these ECs for supposedly upgraders with limited income. Ideally, EC prices should be affordable for upgraders... meaning assuming they have been maintaining their lifestyle, they just need to sell their existing HDB, clean out their CPF, and if a loan is needed, no more than 100k. That's my personal benchmark for affordable.

 

People with limited income are just rolling into debt with the notion that it's "good debt"... half a mil.... without batting an eyelid..... and "surely can sell high".

 

Debt is a burden, good or bad.

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Wt_know

Wt_know

Hypersonic
(edited)

EC ... buy $700K sell $1M (no 30% no talk)

buy bigger unit at $1M can sell smelly smelly $1.5M ... agents said one

$300k to $500K profit leh ... better luck than TOTO wor ...

Edited by Wt_know
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Hosaybo

Hosaybo

6th Gear

Base on the trend, SK punggol HDB resale value is likely to drop as many who bought ec in that area lives in that area itself. Too many ec in punggol, sk ara liao. Remembered some bro in this forum bought his ec base on his HDB selling price back then.think now when the ec starts top, more people selling their HDB, the value is gonna to drop. This is the situation that one may want to avoid.

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Darryn

Darryn

Turbocharged

Base on the trend, SK punggol HDB resale value is likely to drop as many who bought ec in that area lives in that area itself. Too many ec in punggol, sk ara liao. Remembered some bro in this forum bought his ec base on his HDB selling price back then.think now when the ec starts top, more people selling their HDB, the value is gonna to drop. This is the situation that one may want to avoid.

Exactly...

 

And let's see the interest 5 years later when everyone starts trying to sell their EC -

 

I think there's going to be a lot of people that are going to fall out of love with a "budget condo" concept - especially when there's a whole bunch on the market

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Wt_know

Wt_know

Hypersonic
(edited)

2009 to 2014 ... property jump 50%

2014 to 2019 ... property drop 50%? [sly]

 

Exactly...

 

And let's see the interest 5 years later when everyone starts trying to sell their EC -

 

I think there's going to be a lot of people that are going to fall out of love with a "budget condo" concept - especially when there's a whole bunch on the market

 

Edited by Wt_know
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Dleodleo

Dleodleo

Twincharged

when EC TOP 2 years down the road, your 5 room will probably fetch 400k (as market watchers predict), and debt is 600k.

 

New 600k debt for a smaller unit than your hdb i bet.

 

that's what bugs me about these ECs for supposedly upgraders with limited income. Ideally, EC prices should be affordable for upgraders... meaning assuming they have been maintaining their lifestyle, they just need to sell their existing HDB, clean out their CPF, and if a loan is needed, no more than 100k. That's my personal benchmark for affordable.

 

People with limited income are just rolling into debt with the notion that it's "good debt"... half a mil.... without batting an eyelid..... and "surely can sell high".

 

Debt is a burden, go

 

Ya, you are right. This is what I am thinking too. I always wanted to upgrade to EC but i see the area getting smaller and smaller, cannot imagine myself paying more for smaller area. Moreover, living room is very small but the balcony is so BIG!

 

I am afraid that I buy the EC at high price but when I collect key, I sell my HDB at low price when the propery price drop. Like tat I lugi alot.

 

So what I do now is to save as much as I can. When the property prices drop, i will buy and one to one exchange if possible. If no drop then I stick to my HDB. :)

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Donut

Donut

Supercharged

Looking at Bellwaters at SK....Anyone had any good/bad advices regarding this project?

 

It seemed that they emphasized alot of greenery within a compound...Is it a good/bad thing...Will it be tends to eb messier due to fallen leaves etc?

 

Lastly China developer....any comment?

$1mil over for laminated floor and homo tiles. U say worth or not?

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Mustank

Mustank

Hypersonic
(edited)

 

Ya, you are right. This is what I am thinking too. I always wanted to upgrade to EC but i see the area getting smaller and smaller, cannot imagine myself paying more for smaller area. Moreover, living room is very small but the balcony is so BIG!

 

I am afraid that I buy the EC at high price but when I collect key, I sell my HDB at low price when the propery price drop. Like tat I lugi alot.

 

So what I do now is to save as much as I can. When the property prices drop, i will buy and one to one exchange if possible. If no drop then I stick to my HDB. :)

 

hdb still has the best psf

cant beat their rate

 

 

is the nursing home.

 

tiagong is some kind of temple + can cremate services

next to bto

the people who bought the bto (havent collect key) kpkb

 

if nursing home, actually is good thing

Edited by Mustank
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Enye

Enye

Hypersonic

 

hdb still has the best psf

cant beat their rate

 

tiagong is some kind of temple + can cremate services

next to bto

the people who bought the bto (havent collect key) kpkb

 

if nursing home, actually is good thing

 

columbarium not crematorium

 

:D

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Lala81

Lala81

Hypersonic
(edited)

i really is fail [blush]

 

Other than the smoke when pple burn offerings. I don't really think a columbarium is offensive...

Fernvale Lea is the one reported in the news.

Edited by Lala81
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