QUOTE(seantang @ Mar 19 2013, 09:06 PM)
Guys, quick question to help me do some sums.
How much would you be willing to pay for a common room in a condo (normal facilities, gym and pool etc) that is 2-3 minutes walk from MRT (from MRT platform to condo guardhouse) and across the road from shopping mall?
Basic furnishing ie. queen bed, built in wardrobe, air conditioning and the common bathroom practically for the your use only?
Include utilities (say $200), very light cooking only (instant noodles, rice or porridge) and no overnight or "lounging" (ie. hang out the whole afternoon etc) visitors.
Nearby condos are renting out at $4-4.5K. But they are about 7-10 minutes walk from MRT.
Just my opinion, don't shoot me. No area of the condo given right? If the place very far from my workplace or city, say need 30 mins or more MRT ride to work, the 2-3 minutes compared to 7-10 minutes walking distance are not so attractive.
Based on the 4k to 4.5k for the same area, will say about 1.2k to 1.5k max. 1.5k if the place is really near to my workplace or places I go often, travelling time saved is significiant. I have been staying 5 mins walk to my office for near to 3 years now. If have to put the saving of 1 hour per day for return trip from work in money terms. I willing to pay 500-600 extra now. 20 hours per month, if you take the time to work (OT), it worth much more than that, plus no need to pack the MRT everyday. Anything higher, I will consider buying one. This is me la, based on my % budget of salary allowed for accomodation. If I am those elites then different story.
We used a formula to determine how much each pay for a unit without owner last time. Assign unit to each place, the weightage of the unit you decide. Eg. Masterbedroom 2, Common Room 1, Living Room 1, Kitchen 1 = Total 5 unit. For common area like living room and kitchen, take the total common area unit / total no. of people in the house. Then rent for each people = Total rent / the bedroom unit + divided common area unit. If total 2 people in house, then the common room one will pay 2/5 of the rent. If owner inside, as tenant I will expect to pay less, add unit for "owner's presence".
This post has been edited by JohnJon82: Mar 20 2013, 01:28 PM