Move from HDB (ulu loc) to HDB (central) or pte (ulu)

With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.

Move from HDB (ulu loc) to HDB (central) or pte (ulu)

Postby ccgoh » Thu Feb 10, 2011 1:55 am

Hi,

I am now staying in a HDB executive flat in a ulu part of singapore. May not fetch much. But with some spare cash, my hubby and I were thinking of either getting another flat in central area or a condo but not enough cash for condo in good location so must be condo in ulu place again.

Any thoughts of which is better in terms of resale value for next time?

ccgoh
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Postby verykiasu2010 » Thu Feb 10, 2011 6:45 am

market wisdom on property investment : 3 principles

1. location
2. location
3. location

don't know what (where) you meant as ulu.

but take example, an HDB e-flat in Jurong West fetched $500k in year 2000 and dropped to $350 during 2003 - 2008 and took 10 years to recover to $500k level. If you factor in the time value of money plus interest cost for the last 10 years....the current market price is still a loss.

an old apartment at Lutheran Tower, district 10, worth around $530k during year 2000, 178 sq metre, larger than e-flat, is now worth at least $1.45m based on Aug'10 transaction

(wow, to post this I got to go did out old records on transacted price to back it up)
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Postby tankee » Thu Feb 10, 2011 8:48 am

what's the motivation to change?

if it is location, then move to another HDB in the preferred location.


if it is about "upgrading" to a condo, then choose a condo in the ulu ulu location.A condo of similar size to an executive flat is expensive especially in more central area. So, while you upgrade to "condo" facilities, you download in term of size and ended up "working for the bank".


if it is both, then I would say HDB in preferred location.

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Postby hquek » Thu Feb 10, 2011 9:12 am

Remember that for hdb, you are essentially leasing it from HDB - HDB pays for painting, much of upgrading, maintenance etc; and in time to come, they may buy back from you and give you choice to select nearby units.

For private, you own the place - upgrading, maintaining, painting will all come out of your pocket. Also, any goodies from govt will auto be discounted (if there are any left) becos you own a pte pty. (assuming you haven't hit the income ceiling). Lastly maintenance cost is much higher for pte pty.

Then again, if you feel you will put the facilities to good use and am looking out for capital gains, then pte pty will be a good move. Just remember that once you buy the pte pty, you cannot buy hdb (even resale) unless you sell off the pte (converse is NOT true) - at least under current rules.

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Postby ccgoh » Thu Feb 10, 2011 11:58 am

Hi,

Thanks for your input, we want to move because it is a hassle to travel so far every time. The thing about income is we own a business so we can in a sense not declare one of our incomes so we can still get HDB.

For condo, it will give our children a place to invite their friends back next time to enjoy the facilities but we will definitely have to downgrade in terms of size.

I have been checking out some places in Bishan-HDB flats, I am actually wanting to get a penthouse HDB maisonette the one with the rooftop garden, I was thinking resale value would also be very high but I know prices for such a unit went for 900K last year so also very steep for a HDB.

Right now, we are staying with our in-laws as they have a big place. We were renting out our maisonette and now we are thinking of selling. Maybe even if we do not buy another place immediately, do you think it would be good to sell now as prices are high?

ccgoh
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Postby janet88 » Thu Feb 10, 2011 12:06 pm

My hubby just won't give up the idea of getting a DBSS...(we saw the show flat of 'The Peak'). Last week, we went to see the plot of land in Clementi Ave 4 (proposed land for DBSS).

I'm perfectly happy with my flat in Upp Bukit Timah...the only HDB estate here...lift is being upgraded and MRT is ready in 2016. Told him I AM NOT going to move, esp when it's hard to get a flat without looking at it physically...what if we get one unit with afternoon sun or no view ?

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Postby ccgoh » Thu Feb 10, 2011 12:10 pm

Hi Janet,

From what I hear, some of the DBSS are very small as well. Actually most new flats are small. Since you existing flat is such prime location, might as well stay till can upgrade to pte?

ccgoh
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Postby happy to be mum » Thu Feb 10, 2011 12:11 pm

for me is the location..

used to stay in "ulu" can't really say "ulu" location cuz the town is going to be big waterfront town soon (think you shld be able to guess where ;) But it is really far!

have change to a centralised location as wanted DS to go to a particular school & once you stay in a centralised location, you will not want to go any other where of sg :) for the value, money, convenience, it is worth it.

you might want to decide what is the reason for your shift. some parents will shift as they want to be nearer to their parents / in-laws if their parents or in-laws do help out in taking care of their kids. For me, I think Bishan is over-priced and too crowded, unless you want your kids to go to the school there.

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Postby ccgoh » Thu Feb 10, 2011 1:49 pm

Hi happy to be mum,

I agree, bishan is overpriced but it is central and the environment seems quiet and nice for the one I went to view it is at Brighthill Drive nearer Thomson side.

I feel location quite important, the price of our EM at ulu place so hard to fetch good price.

ccgoh
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Postby ccgoh » Thu Feb 10, 2011 1:49 pm

Btw, anyone heard of HDB terraces? Worth to consider?

ccgoh
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