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 Opinion required

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TSKarpanan
post Jun 5 2019, 03:20 AM, updated 7y ago

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I am currently looking forward to purchasing my first property and would like to get some second opinion.
There are currently 2 properties that I am looking at and this is purely for own stay purposes.

Property 1
There is this 800+ sqft sub-sale condo that is nearby my workplace which would cost a little more than 500k(fully furnished) depends on negotiation. It is fairly new and not more than 2 years old. By purchasing this, I can just walk to my workplace. I have considered the fact that I might not stay in the same company in the future, however I have been renting nearby for few years and are quite fond of the surrounding location. The downside is however it would deplete 80% of my saving with all those downpayment, stamp duties, legal fees etc.

Property 2
The second one would be the infamous extremely high density RC residence, despite all the negative feedback, the price and location are extremely appealing to me. It would take me around 15-20 mins drive at most to reach my workplace with usual traffic. I prefer the 800 sqft where it would cost me less than 400k, however there is the cost of petrol and time for travelling.

I have around 4k each month after deducting all the expenses, ptptn and car loan, the remaining after the housing loan+maintenance+utilities will go into saving. I am in no rush to purchase now but I think it is good to start looking and do some research. I really like everything about the sub-sale condo but the thoughts of depleting most of my saving does not bode well for me, and also the fact that I might be too unrealistic by purchasing 500k properties.

Could all the sifu please enlighten me.
TSKarpanan
post Jun 5 2019, 10:55 AM

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QUOTE(Bjorn1688 @ Jun 5 2019, 03:44 AM)
Need more info on the 1st unit, how much did it sell for new? Is it a freehold? Easiest if you just provide the name for it.

Also never get suckered into buying a fully furnished place at a premium. If it is used then 2nd hand furniture is worth 1/3 its new price after it is a year old, only exception are some IKEA furniture which is worth 50% up until it is 3-5 years old.

As for me, I won't buy a place like RC for the simple reason that in future it becomes breeding grounds for all kinds of social issues, for most people buying a home isn't a multiple event in life, so think carefully whether it is worth to live there.
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Thanks for the input, I appreciated the input. The 1st unit is from trinity aquata and it was vacant since he received the unit, regardless whether true or not, that is what he said though.

QUOTE(aurora97 @ Jun 5 2019, 09:42 AM)
From the looks of it, you are possibly single and in terms of job, you are very mobile. Also, your looking for sub-sale.

Btw for sub-sale, you dont get full valuation of the property from the bank. Just so you know.

If time and money are on your side than what i suggest you do...

If you like a particular area or condo, you rent it first.

Why you may ask? The reason as follows:

U get to know what is good n bad abt ur condo.
- some condo have walls that r paper thin.
- your neighbour cud be a jack ass.
- the management is in shit tonne of debt.
- facilities r not properly managed.
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Thanks for the valid input, I have been renting nearby for few years, albeit not trinity, maybe I should just observe and monitor how it goes since I have had few friends renting in trinity.

For all sifu here, there is also another project named Damai Residence that caught my attention which is also 15-20 mins drive to my workplace. It was around 550k for 900+ sqft fully furnished, there entry cost is less than 10k with all those rebate and freebies, however I am not sure whether it is feasible long term to only have 1k saving each month after deducting loan and everything, however my car loan which will be paid off in 2 years will free up 700+ cash.


 

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