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Hi , As my boy and his gf is reaching marriage age, I'm considering whether to ask them to apply for a resale flat in Tiong Bahru (2km from me),Kim Tian,11 years unit,high floor.My qns is whether they should buy this resale unit in Kim Tian.New BTO flats like Kim Tian Green and Tiong Bahru green,only 450-500k.Is it worth for them to buy a 700k flat(assume valuation 680k,cov 20k)?Further if I am to breakdown the mortgage calculation as below:Assuming they loan 550k from HDB and remaining 150k from Cash & CPF. Factoring in mortgages interest rate, total cost of resale unit = (Monthly mortgage loan*12 month*repayment years)+Cash +CPF + stamp fee +agent’s fee +potential renovation (~20k)= (2.5*12*25)+150k+15.6k+7.5k+20k =~950k!!! Will it be possible a Kim Tian house can fetch more than a million in the many years to come?Tiong Bahru is a prime area, and there’s not much land for BTO anymore. Appreciate analytical answer. Jane
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Hi Jane, Pardon me for being blunt, I suppose it is more important to know if both of them are ready to settle down and form a family as of now, and if yes, is being within 2km near you their preferred choice? Also going through their finances, will it be sustainable for the young couple to take up the housing loan of $550k instead of a potentially lower housing loan in a less prime estate, such that they have more cash on hand for their daily livelihood as well as family planning? Buying a HDB as a home is not too much into whether in future will it rise to $1m. This unit they could be potentially buying maybe home to their offspring, which would be easily be home to even their grandchildren if we talk about staying until the expiration of the lease. The warmth and happiness over the homebuilding process would be priceless. Regards, Geryl LIM Real Estate Director Masters Of Real Estate (L3010548F) CEA Reg R014783H Mobile: +65-81577565  /+65-92787772 Email: geryl7772@gmail.com https://www.facebook.com/propertyblogshop https://www.facebook.com/media/set/?set=a.297043923770884.1073741832.284747148333895&type=1&l=90fca1674e M.O.R.E Landed Dynamic Alliance - www.DAG.com.sg Home of *7772 Hotline Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! **Aspiring to be your preferred partner in real estate** The Game Is Changing... International Property Opportunities Await! Don't Be Left Behind! More and more investors are seeking offshore real estate for investment. Have you missed out on the last international property fair? Let me know if you are keen in overseas investment. I would like to thank more than 120 of you who have took out your precious time in attending the original Landed Homes Sales Exhibition on 7 & 8 September. 1 unit was sold with 4 units reserved over this 2 day event. Do look forward to our next edition. Register with me if you are keen. Read More
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