Reserve Residences

[Rxgn]

this really one of the longest building times i heard… lol.. sure many subsales before it even sees TOP

PASIR RIS 8 will have similiar effect too.

 

[Rxgn]

Sry edited my earlier message, it’s still just indicative timeline provided from developer. So that Q1 2025 is just an estimate. Probably best not to take it too firmly when planning your finances around it like what Thinkcarefully said

Yeap. Developer can suddenly flip prata. Just dont get caught with your pants down.

But my view is that q1 2025 onwards then they will call. At most bring forward to q4 2024 nia, which is still good.

Just for ref, my gls new launch project, developer call for foundation (10%) 7 months after launch day.

 

[Kamikaze55555]

for mixed D, is foundation payment called when they start building the mall below or when it actually reaches the condo (in this case on level 5)?

 

[ktyandkyc]

PLB and a few tube videos put TOP 2028, isnt that five years

 

[kiatme]

Anyone confirm that RR earliest disbursement of loan will be 2025 after paying up 20% down payment?

Is there a concern as to when ?
To buy a condo, the steps are cash -> CPF -> loan.

If you are taking of making some cash to make up for any shortfall between now to 2025, it is not possible, you need to have the cash/CPF ready upfront.

 

[jouhyo]

My fund is limited so we thought this 2025 and 6 years TOP can give us some time.

If your fund is limited, you should not even think about it. Some more you gonna hit yr retirement soon. Why sink every cent u have on this? If anyone of u get retrenched, and you dont have the enough $$ for the progressive payment, prepare to return it back to the developer.

 

[Iridiumguy]

PASIR RIS 8 will have similiar effect too.

PPVC stacking has started already see here

 

[Des Plaines]

Is there a concern as to when ?
To buy a condo, the steps are cash -> CPF -> loan.

If you are taking of making some cash to make up for any shortfall between now to 2025, it is not possible, you need to have the cash/CPF ready upfront.

Our CPF and savings is around 500k. If deferred payment and disbursement starts from 2025 and the construction takes another 4-5 years, it does enticing me to try.

 

[petetherock]

I do not know if I am overly leverage or not. Thinking of this deferred payment option to get an own stay unit and it presents an exit opportunity since disbursement will only activate 2025 thereafter.

I would say that IMO, you are if you need this …
Just get your banker to help do your sums first
Don’t buy then find you can’t finance it and someone here will happily low ball you …

 

[durain]

Our CPF and savings is around 500k. If deferred payment and disbursement starts from 2025 and the construction takes another 4-5 years, it does enticing me to try.

You got your in principle approval from the bank already? If the IPA covers your budget then no worries, early or late completion the bank will handle the payouts, if early then you incur abit of interest can already.

If you’re not taking a loan, and you dont have ready funds, if the schedule speeds up(this is far east we’re talking about) , you’re gonna be caught with your pants down. So in this case maybe settle for a smaller unit so you got a better buffer.

 

[Des Plaines]

I do not have any IPA yet. I am sole breadwinner and earning around 10k. Wife is SAHM, she's 45 and I am 48, will including my spouse name helps in the loan application and tenor?

 

[Rxgn]

I do not have any IPA yet. I am sole breadwinner and earning around 10k. Wife is SAHM, she's 45 and I am 48, will including my spouse name helps in the loan application and tenor?

nope since she is not working. but if she have a lot of cpf oa, adding her name, can use her cpf oa funds as well

 

[Des Plaines]

nope since she is not working. but if she have a lot of cpf oa, adding her name, can use her cpf oa funds as well

Our CPF combined with saving amount to 500k. Any advantage on loan tenor ?

 

[gonewiththesmart]

Oh wow… so just 1 br 900 already.. thats a huge no of checks in total then

Only 100 1 bedroom units.

Wow lower chance than BTO.

 

[chiohh]

Our CPF combined with saving amount to 500k. Any advantage on loan tenor ?

There's a resident banker in the property loan thread. Pm him and get a proper professional answer instead of asking random strangers here. Buying property is largest life commitment for most ppl. Better do your homework proper.

 

[Rxgn]

Our CPF combined with saving amount to 500k. Any advantage on loan tenor ?

How much % of 500k is yours?

 

[Rxgn]

There's a resident banker in the property loan thread. Pm him and get a proper professional answer instead of asking random strangers here. Buying property is largest life commitment for most ppl. Better do your homework proper.

@Property_Broker this is the nice guy. He is helpful to me even if i did not use his services

 

[Des Plaines]

Thanks all for the recommendation. My CPF OA is 200k, my wife is around 180k. Rest will be our life savings. Where is RR show flat location?

 

[sellipad2]

I think you are may not be financially and mentally prepared, better think twice and exercise prudence RR is not cheap looking at their quantum. At your age and income the risk is very high. Only buy if you have loads of cash on hand. For people who are stretched they would have done IPA beforehand

 

[Nanonited]

I think you are may not be financially and mentally prepared, better think twice and exercise prudence RR is not cheap looking at their quantum. At your age and income the risk is very high. Only buy if you have loads of cash on hand. For people who are stretched they would have done IPA beforehand

I hope he is not a troll… very scary the way he ask. RR is not cheap in quantum but he not even sure its affordable or not… if lose money dont know how he will cope