Upgrade to EC

[Mustank]

rich man spotted

[Baal]

EC is a "trap" to slave you for another 25 years if you already fully paid your HDB

paying more for less is a downgrade from HDB to EC ...

especially the "useable" space of the unit is < 1000 sqft with a gigantic balcony + aircon ledge + void space

not to mention the cheapo material and quality built by "china developer" but price at a premium .... EC leh don't play play

 

 

remembered porker ever mentioned there is a logic to these big balconys, what was it ah? Cant be for smoking right? :)

[Bioinformatics]

Loan 32 years and yet needs to top up 1.8k monthly? Your friend bought the condo with one income ar?

 

Yes. Single income. I asked him if property crash or lost of high paying job how. he will jump.

 

Must at least hold for 5 years, else the SSD will kill him as well.

[Vidz]

at the end of the day, it depends on what kind of live you want to lead... wanna retire, relak and play guitar at void deck is good. Wanna fulfil a dream staying in a condo, working hard and productive also admirable... some flipped condo and pocket half a mil

 

no right or wrong, everyone is different...

[Heartlander]

 

Agree. Got a friend this year turn 45 years and go commit on a condo for a loan of 32 years. Every month need top up over 1.8k for the loan. The only good side on this is that he can tell all his friends/relatives that he own condo....

Just curious how could your friend take up loan of 32 years at 45 years old? Thought maximum up to official retirement age of 62 at the moment? Or he has other co-owners at 30 years old? A very young wife perhaps?

[Mustank]

 

 

Bro,

if ur current unit is a direct purchase from HDB, u will have to factor in levy as well.

 

buy ec, no levy one

[Kangadrool]

must ask this question again again again and again: what is your objective of "upgrading" to EC? 'cos of the lake? Prestige???

 

Jurong Lake area also has many HDB flats what. Can buy one there.

 

 

[Mustank]

i go google

units like very small

how much they sell psf?

Lake Life EC Project Specs

• Developer: Lakehomez Pte Ltd, a consortium of Evia Real Estate, BBR Development, CNH Investment, OKP Land
• Address: Yuan Ching Road / Tao Ching Road (beside Jurong Secondary School)
• Expected TOP: TBD
• 5 bus stops to Lakeside MRT Station, distance about 1.4km
• Jurong Lakeside View

Unit Type and Size (Subject to final survey & changes)

Number of Units: Total 546 Apartment Units in 5 Blocks of 20 Storeys

• 2 Bedroom: 69 sqm / 743 sqft
• 3 Bedroom: 94 - 104 sqm / 1012 - 1119 sqft
• 4 Bedroom: 115 - 117 sqm / 1238 - 1259 sqft
• 5 Bedroom: 149 sqm / 1604 sqft
• Penthouse: 157 - 159 sqm / 1690 - 1711 sqft

• Showroom Layout: TBD

[Chickenfarm]

"Jewel" of the West

 

Under a certain party, everything also "jewel" ...

 

New Stadium is "jewel", Changi Airport also "jewel"...

Must buy...hurry hurry buy!

[TVT]

 

buy ec, no levy one

 

Yes, buy EC or DBSS flats no need to buy resale levy.

[Cracker]

 

buy ec, no levy one

 

DId I interpret this statement wrongly ?

 

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatEC?OpenDocument#ECSecondTimer

 

 

Second-timer Applicants

You or the essential family members listed in your application have owned/sold or are currently owners of:

• Any HDB flat that was bought from HDB, or
• Any resale flat that was bought under the CPF Housing Grant Scheme, or
• A DBSS flat or an EC bought from the developer, or
• Have enjoyed other forms of housing subsidy (for example, enjoyed benefits under the Selective En bloc Redevelopment Scheme, privatisation of HUDC estate etc.)

 

Payment of Resale Levy

Second-timers who apply for new EC projects from Westwood Avenue onwards will have to pay a resale levy.

 

However, second-timers are not required to pay the resale levy if they apply to buy EC units in projects that were launched before 9 Dec 2013. More information on the tender launch dates for EC land sales can be found in the Residential Development List > Executive Condominium (EC).

 

[Jman888]

walau all opinions were against buying then who is going to buy the EC? but then they are still oversubscribed most of the time

[Karu]

"Jewel" of the West

 

Under a certain party, everything also "jewel" ...

 

New Stadium is "jewel", Changi Airport also "jewel"...

Must buy...hurry hurry buy!

 

Every year, our dear leader will offer one Jewel... Last year was the new Changi Airport jewel...

[Mustank]

"Jewel" of the West

 

Under a certain party, everything also "jewel" ...

 

New Stadium is "jewel", Changi Airport also "jewel"...

Must buy...hurry hurry buy!

 

Assuming 25% non usable space:

estimated usable space in ()

penthouse assume 30% non-usable space

 

• 2 Bedroom: 69 sqm / 743 sqft (557sqm)
• 3 Bedroom: 94 - 104 sqm / 1012 - 1119 sqft (839)
• 4 Bedroom: 115 - 117 sqm / 1238 - 1259 sqft (945)
• 5 Bedroom: 149 sqm / 1604 sqft (1203)
• Penthouse: 157 - 159 sqm / 1690 - 1711 sqft (1200)

[Karu]

walau all opinions were against buying then who is going to buy the EC? but then they are still oversubscribed most of the time

 

A lot of people also want to 'upgrade' to a smaller apt mah...

[Mustank]

walau all opinions were against buying then who is going to buy the EC? but then they are still oversubscribed most of the time

 

it is like school exam

everyone tell everyone else mai tak chek

act sporty, act got alot of eca, act satki

the minute nobody seeing, open book tak chek

[Enye]

TS question was answered in the 1st few replies

 

i don't remember reading that he sought any advice on whether should he move into an EC and take up another loan or financial planning

 

 

 

 

 

[Bioinformatics]

 

DId I interpret this statement wrongly ?

 

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatEC?OpenDocument#ECSecondTimer

 

 

Second-timer Applicants

You or the essential family members listed in your application have owned/sold or are currently owners of:

• Any HDB flat that was bought from HDB, or
• Any resale flat that was bought under the CPF Housing Grant Scheme, or
• A DBSS flat or an EC bought from the developer, or
• Have enjoyed other forms of housing subsidy (for example, enjoyed benefits under the Selective En bloc Redevelopment Scheme, privatisation of HUDC estate etc.)

 

Payment of Resale Levy

Second-timers who apply for new EC projects from Westwood Avenue onwards will have to pay a resale levy.

 

However, second-timers are not required to pay the resale levy if they apply to buy EC units in projects that were launched before 9 Dec 2013. More information on the tender launch dates for EC land sales can be found in the Residential Development List > Executive Condominium (EC).

 

 

I think the Lakeside new EC does not subject to resale levy as the land sales is early than 9 dec 2013. Sure a lot of ppl will whack for this.

 

You only pay resale levy if:

"an Executive Condominium (EC) from a developer where the land sale was launched on or after 9 Dec 2013"