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Thread: Is it a good timing to buy resale flat now?

  1. #1

    Default Is it a good timing to buy resale flat now?

    Please share your opinion.
    The more units i viewed the more dishearted i felt.
    Everyone is shouting COV 30k, 40k, 50k..

  2. #2
    Member koplady11's Avatar
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    Default Re: Is it a good timing to buy resale flat now?

    Waiting for DBSS at tampines. Me and fiance give up on resale already liao.
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  3. #3

    Default Re: Is it a good timing to buy resale flat now?

    Tampines DBSS how much? Have to pay cash upfront?

  4. #4

    Default Re: Is it a good timing to buy resale flat now?

    I feel your pain... i paid 60k COV for mine.... It was a bit high but my reasoning was that if I wait 1 year / 2 years for it to come down (assuming it comes down) I would need to pay 1 or 2 years of rent 2k x 24 months = 48k!!!!!

  5. #5

    Default Re: Is it a good timing to buy resale flat now?

    i dun have 60k
    ur 60K COV is for how many room?

    I looking for 3room flat only.

  6. #6

    Default Re: Is it a good timing to buy resale flat now?

    Seems like property prices are just gonna keep going up & up with the gahmen coming out to say that the economy is picking up. (More like a reason to give themselves a pay raise if you ask me...) You could cut your losses and grab a resale now or queue with the rest of us & wait for your chance to get a "nice" new flat. I oso no 60K to dump into a resale Anyway..i've been waiting for 4 yrs now...

  7. #7
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    Default Re: Is it a good timing to buy resale flat now?

    Nooooooooooooooooooooo

  8. #8

    Default Re: Is it a good timing to buy resale flat now?

    Quote Originally Posted by Haze View Post
    i dun have 60k
    ur 60K COV is for how many room?

    I looking for 3room flat only.
    depending on the area u are looking at. 3 n 4 rooms are in demand right now both from locals and pr. i sold mine to a pr family for a cov that singaporeans will nvr afford.

  9. #9

    Default Re: Is it a good timing to buy resale flat now?

    Quote Originally Posted by Haze View Post
    Please share your opinion.
    The more units i viewed the more dishearted i felt.
    Everyone is shouting COV 30k, 40k, 50k..
    get asap, coz it will keep going up.

    yes, nowadays cov very high. i recently bought mine and have to pay 25 k for cov, that was sep 2009.

    those agents spoil the market, the higher the cov or valuation, the higher commission they get.

    that's why i never like agents, be it insurance/financial type or property type.
    Last edited by ninelives; 6th July 2010 at 11:46 PM.
    Objection !!!

  10. #10
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    Default Re: Is it a good timing to buy resale flat now?

    Quote Originally Posted by ninelives View Post
    those agents spoil the market, the higher the cov or valuation, the higher commission they get.

    that's why i never like agents, be it insurance/financial type o property type.
    Quote Originally Posted by flipfreak View Post
    i sold mine to a pr family for a cov that singaporeans will nvr afford.
    You sure it's only the agents at fault?

  11. #11
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    Default Re: Is it a good timing to buy resale flat now?

    Price gone up a lot. crazy...

    you might want to use the below as a guide for pricing for the area you want.

    http://services2.hdb.gov.sg/webapp/B...PReslTrans.jsp

    I give up on resale as the COV is really too much, lucky i managed to get a BTO which will be ready in 2012.. well, what to do?

  12. #12

    Default Re: Is it a good timing to buy resale flat now?

    Quote Originally Posted by arctos View Post
    You sure it's only the agents at fault?
    its a matter of demand and supply. actually agents rather sell the flat fast than sell at a high price.

  13. #13
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    Default Re: Is it a good timing to buy resale flat now?

    Quote Originally Posted by flipfreak View Post
    depending on the area u are looking at. 3 n 4 rooms are in demand right now both from locals and pr. i sold mine to a pr family for a cov that singaporeans will nvr afford.
    u spoilt market...

    anyway if can wait bto, cannot wait, there is no such thing as good timing, the market is hard to predict, by the time u wait for the price to be affordable, you probable get ur flat if you opt for BTO earlier...

    now its much better chance of getting BTO loh with so many BTO releases, my time i tried 10 times!!! until i go look for MP, though HDB rejected the request but i got a decent queue number on the next ballot somehow...
    Last edited by flowerpot; 6th July 2010 at 12:32 PM.
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  14. #14

    Default Re: Is it a good timing to buy resale flat now?

    Quote Originally Posted by flowerpot View Post
    u spoilt market...

    anyway if can wait bto, cannot wait, there is no such thing as good timing, the market is hard to predict, by the time u wait for the price to be affordable, you probable get ur flat if you opt for BTO earlier...

    now its much better chance of getting BTO loh with so many BTO releases, my time i tried 10 times!!! until i go look for MP, though HDB rejected the request but i got a decent queue number on the next ballot somehow...
    hahaha. cannot blame me for cashing in on the market.

    anyway there is no best time to go into the mkt. if u need it then just have to buy it. i am on the lookout for a nice bto release. ec or dbss is nice too.

  15. #15
    Senior Member engrmariano's Avatar
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    Default Re: Is it a good timing to buy resale flat now?

    hdb flats are ridiculously expensive this time...

    we bought our 4room flat at sengkang last year for 308K + 0 cov, average prices went up by at least 40k after 6months only...

    im not sure its current price now but i heard cov alone are at least 20k...

  16. #16
    Senior Member NovJoe's Avatar
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    Default Re: Is it a good timing to buy resale flat now?

    Hiya... nowsdays, even BTO is more like buying ToTo and waiting to strike the mere $30... Dunno ballot for how many times liao, feels like giving up. 1 BTO of approx 600 units gets more than 6 times of people balloting to it. The CCK is a fine example. That BTO place is right in front of my parent's flat and I'm a first timer so I should naturally get a higher chance but I wasn't selected. Why? Simple, 588 units for ballot but close to 4000 applicants applying for the units.

    Resale value keeps rising, BTO keeps getting harder to get ballot number. Gosh!
    Last edited by NovJoe; 6th July 2010 at 12:57 PM.

  17. #17
    Member koplady11's Avatar
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    Default Re: Is it a good timing to buy resale flat now?

    Quote Originally Posted by Haze View Post
    Tampines DBSS how much? Have to pay cash upfront?
    Dunno yet. But the no of 4-room flats wld definitely be much lesses than 5-room. The plot is still up for developers to submit their tenders by August. Will probably be for sale around Nov-Dec.

    As for cash, it used to be the 5% cash upfront just for confirmation where they will refund u back the cash ;ater upon completion of process. The 5% will then be deducted from the combined cpf account, or for some people, they choose to empty their whole cpf accounts so that the hdb loan is lower and monthly deductions is affordable. Now I think its straightaway deducted from cpf.

    My estimates for Tampines DBSS for a 4-room will start at 400k at least. Simei's DBSS started at 350k I think. Dun need to talk about The Premiere at Tampines. The owners there are probably laughing their way off to the bank... Brother got a mid-floor 4-room for just a bit lower than 300k. =_=

    Sux eh, the situation now?
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  18. #18
    Senior Member Virgo's Avatar
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    Default Re: Is it a good timing to buy resale flat now?

    Resale flats are like stocks. Everything that goes up will come down.

    If you're asking if whether it is a good time to buy, I would say the price is high now, or the COV the owner is asking is VERY high. However, it's up to the individual if you really need a house now. Do you have a choice? Do you have time on your side?

    If the answer is yes, then by all means wait, or find an alternative, like live temporarily in your parent's house for example. If you really cannot wait, or if you really cannot live with your parents after marriage, then I'm afraid you'll have to fork up the money to get your dream home. No choice!

    My advice is, take your time, don't rush. If you are buying a resale flat, take your time to choose. Even if you apply for a new flat, it will take a few years to get built.
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    Moderator nightwolf75's Avatar
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    Default Re: Is it a good timing to buy resale flat now?

    there is never a good time, really.

    if u can wait, then apply BTO.

    if u can't wait, then shop ard. there are some sellers who dun ask crazy COVs. it is a matter of negotiations. the downside is that most of these units who dun need high COVs probably require you to do some heavy renos. also, some real estate agents are colluding with each other to raise the prices. so, do your homework and ask ard. dun get pushed ard by the agents and never rush into the deal, no matter how desperate. the moment they know you are desperate... all hell will break loose with both sides trying to fatten up their commissions.

    i learnt this the hard way and end up with a big mess last year to deal with the agents.
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    Senior Member Virgo's Avatar
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    Default Re: Is it a good timing to buy resale flat now?

    Quote Originally Posted by nightwolf75 View Post
    there is never a good time, really.

    if u can wait, then apply BTO.

    if u can't wait, then shop ard. there are some sellers who dun ask crazy COVs. it is a matter of negotiations. the downside is that most of these units who dun need high COVs probably require you to do some heavy renos. also, some real estate agents are colluding with each other to raise the prices. so, do your homework and ask ard. dun get pushed ard by the agents and never rush into the deal, no matter how desperate. the moment they know you are desperate... all hell will break loose with both sides trying to fatten up their commissions.

    i learnt this the hard way and end up with a big mess last year to deal with the agents.
    Yes, you're right. Housing Agents are actually the real culprit in pushing up the HDB prices to such high level. Of course, the buyer also plays a part. There's currently a lot of PRs looking for HDBs now, hereby raising the prices.
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