The Criterion EC

[tokidoki_sg]

By the way is the list price inclusive of GST? I understand that there is stamp duty of 3% minus $5.4k, resale levy of $40k when I sell my current unit (4-room HDB), Any other 'hidden' costs?

I think there's no GST for property. The price quoted is the nett price. Yes, need to pay stamp duty of 3% - $5400 and resale levy. Stamp Duty can pay from CPF. Resale Levy to pay after we sell our HDB. So basically no issue if there's sufficient funds in CPF OA acct. Hidden cost...hmm...lawyer fee considered as hidden cost? I think avg is ard $2500. That's all i can think of now.

Have you clear your current HDB loan? You are aware that no outstanding home loan then can get 80% loan? And also gotten any bank's In-Principle Approval (IPA)? Frankly, it's not easy to secure bank loan now, with all the cooling measures implemented.

 

[edward79]

I think there's no GST for property. The price quoted is the nett price. Yes, need to pay stamp duty of 3% - $5400 and resale levy. Stamp Duty can pay from CPF. Resale Levy to pay after we sell our HDB. So basically no issue if there's sufficient funds in CPF OA acct. Hidden cost...hmm...lawyer fee considered as hidden cost? I think avg is ard $2500. That's all i can think of now.

Have you clear your current HDB loan? You are aware that no outstanding home loan then can get 80% loan? And also gotten any bank's In-Principle Approval (IPA)? Frankly, it's not easy to secure bank loan now, with all the cooling measures implemented.

No GST is good. I don't want to be caught off guard as its another 7%. One more thing I can think of is the additional 2-3% if I opt for deferred over progressive payment... I have no idea if I can tahan the progressive payment =/

I have submitted my documents for IPA. Shall see how it goes from here.

 

[tokidoki_sg]

No GST is good. I don't want to be caught off guard as its another 7%. One more thing I can think of is the additional 2-3% if I opt for deferred over progressive payment... I have no idea if I can tahan the progressive payment =/

I have submitted my documents for IPA. Shall see how it goes from here.

The price list will have both scheme's price. I think the difference is 3% if i rem correctly.

IPA doesn't seem to be very accurate too. End up my actual approved loan is much lower than the IPA. Luckily i nvr get bigger unit else faint.

 

[edward79]

The price list will have both scheme's price. I think the difference is 3% if i rem correctly.

IPA doesn't seem to be very accurate too. End up my actual approved loan is much lower than the IPA. Luckily i nvr get bigger unit else faint.

I got a high IPA that I literally laughed. The bank really look me too up or its a honest mistake.

Anyway now is really in a dilemma. On one hand really want to upgrade. On the other the thought of 'resetting' the home loan and the wipe out of savings/cpf for the initial 20+% is really painful. Although I can recover back from the sale of my current unit, it will be 2 years down the road. A lot of uncertainty. Don't upgrade now then as time goes by I will have lesser years to loan and I may not be able to buy anymore... Haizzz

 

[tokidoki_sg]

I got a high IPA that I literally laughed. The bank really look me too up or its a honest mistake.

Anyway now is really in a dilemma. On one hand really want to upgrade. On the other the thought of 'resetting' the home loan and the wipe out of savings/cpf for the initial 20+% is really painful. Although I can recover back from the sale of my current unit, it will be 2 years down the road. A lot of uncertainty. Don't upgrade now then as time goes by I will have lesser years to loan and I may not be able to buy anymore... Haizzz

Same case as me i guess. Luckily i din believe the IPA amount, else doom. Haha.

Totally understand your dilemma. For my case, if i dun upgrade now, i will have to wait for govt to increase income cap again.

 

[doody_]

If you don't upgrade, you will be stuck in your HDB for life. True story.

 

[edward79]

If you don't upgrade, you will be stuck in your HDB for life. True story.

true. however its a difficult choice between financial freedom which i can achieve in 10 years at current house or enjoy the status/facilities while struggle with housing loan for another 20 years...

 

[edward79]

Same case as me i guess. Luckily i din believe the IPA amount, else doom. Haha.

Totally understand your dilemma. For my case, if i dun upgrade now, i will have to wait for govt to increase income cap again.

yours is a first world problem, i.e. earn too much also is a problem. how i wish i have the same problem. haha.

yours is easier to arrive at a decision. for me, if not for the good value of my current house i would probably not even think about upgrading as i would not be able to afford it. haha.. headache now..

 

[tokidoki_sg]

yours is a first world problem, i.e. earn too much also is a problem. how i wish i have the same problem. haha.

yours is easier to arrive at a decision. for me, if not for the good value of my current house i would probably not even think about upgrading as i would not be able to afford it. haha.. headache now..

So have you book a unit yet? Actually i'm still waiting for HDB's approval.

 

[kelvinangsw]

yours is a first world problem, i.e. earn too much also is a problem. how i wish i have the same problem. haha.

yours is easier to arrive at a decision. for me, if not for the good value of my current house i would probably not even think about upgrading as i would not be able to afford it. haha.. headache now..

My advice is that if your current flat is in good location and have good value, stay in it. I don't see investment potential in Citerion due to its poor location. I foresee it will have limited buyer in the future for the high price you are paying for it now...

 

[tokidoki_sg]

My advice is that if your current flat is in good location and have good value, stay in it. I don't see investment potential in Citerion due to its poor location. I foresee it will have limited buyer in the future for the high price you are paying for it now...

i agree too, if edward79's current place is of better location and bigger in size.

 

[edward79]

My advice is that if your current flat is in good location and have good value, stay in it. I don't see investment potential in Citerion due to its poor location. I foresee it will have limited buyer in the future for the high price you are paying for it now...

Agree with you that the location is not optimal and the appreciation in value may be limited. That's one of the reasons why I have not made a decision yet..

But it is one of those more affordable ones should I choose to upgrade to EC.. After this one I don't think I will upgrade or can afford to upgrade further..

 

[edward79]

i agree too, if edward79's current place is of better location and bigger in size.

My current place is very small. Those units I shortlist are at least 10% bigger than what I currently staying in. So I am thinking either I upgrade to EC or I go for BTO a 5 room..

 

[mulderang]

My advice is dont? I am staying at the older bto flats around the area. Can't wait for mop and then move away. The infrastructure can't support the population though it has gotten better with the access to sle/tpe. But don't forget that the population is increasing as well. If you drive traffic has been getting worst with every top. And if you are taking mrt.... Well expect long q then. Can't really justified paying the premium to use the same road, use the same mrt station, bus stop and shop and eat at the same place. The only plus point at yishun is that the bto prices was really low when compared to other areas. Hard-to-see prices getting much higher.

 

[kelvinangsw]

Agree with you that the location is not optimal and the appreciation in value may be limited. That's one of the reasons why I have not made a decision yet..

But it is one of those more affordable ones should I choose to upgrade to EC.. After this one I don't think I will upgrade or can afford to upgrade further..

Why don't you give it a shoot for the Bidadari BTO if you are still edible? If you happen to get a good unit, it is like striking a jackpot. For Criterion, no need to worry, there will be a lot of units left even after you know the queue number you are getting for the Bidadari BTO.

If you really want to upgrade to a EC and price is a concern, I will recommend Bellewood or Skypark. You need not pay the resale levy and that means you can save $30k up to $45k already depending on what housing you are staying now. I also see better potential in these 2 ECs than Criterion and Signature. At least, walking to MRT is still achievable in these 2 ECs. Therefore, you save on the resale levy and also get a better location EC. It is like killing 2 birds in one stone.

 

[edward79]

My advice is dont? I am staying at the older bto flats around the area. Can't wait for mop and then move away. The infrastructure can't support the population though it has gotten better with the access to sle/tpe. But don't forget that the population is increasing as well. If you drive traffic has been getting worst with every top. And if you are taking mrt.... Well expect long q then. Can't really justified paying the premium to use the same road, use the same mrt station, bus stop and shop and eat at the same place. The only plus point at yishun is that the bto prices was really low when compared to other areas. Hard-to-see prices getting much higher.

Thanks for the advice. Sounds bad there.. I have a friend staying across the street also advised me that the transport there is no good as only 1 feeder bus. Other than that he has no complains as food easily available. Yah the slow appreciation of property is also highlighted by him...

 

[edward79]

Why don't you give it a shoot for the Bidadari BTO if you are still edible? If you happen to get a good unit, it is like striking a jackpot. For Criterion, no need to worry, there will be a lot of units left even after you know the queue number you are getting for the Bidadari BTO.

If you really want to upgrade to a EC and price is a concern, I will recommend Bellewood or Skypark. You need not pay the resale levy and that means you can save $30k up to $45k already depending on what housing you are staying now. I also see better potential in these 2 ECs than Criterion and Signature. At least, walking to MRT is still achievable in these 2 ECs. Therefore, you save on the resale levy and also get a better location EC. It is like killing 2 birds in one stone.

I was considering the Bidadari 5-room. If I were to change there is bec of the St Andrew school for my boys, near MRT and bigger floor area compared to now... But I was also thinking this is my last chance to get a BTO or EC.. Abit wasted not going for EC..

Anyway my wife not keen coz she say is cemetery. Sometimes you just don't understand how women think...

 

[Broadwalk]

I would say go NPR.

 

[duckie_15]

I was considering the Bidadari 5-room. If I were to change there is bec of the St Andrew school for my boys, near MRT and bigger floor area compared to now... But I was also thinking this is my last chance to get a BTO or EC.. Abit wasted not going for EC..

Anyway my wife not keen coz she say is cemetery. Sometimes you just don't understand how women think...

My mum told me not to go for Bidadari too, coz its a cemetery.

 

[edward79]

I would say go NPR.

The price is really out of reach. Anyway at that price if I can afford I would have many other options like the condos at Bartley instead of Yishun.