Rivercove Residences

[birmingham123]

I agree, i think the gain from an EC is over hyped. I am getting married next year so have been examining the market quite closely. One thing that everyone forgets is time value of money with the differerence you pay between a good location hdb and an EC.

Lets say EC 3rm sells around 770k-780k for mid floor. Assuming buyer is first timer with 30k grant, 110k cpf, 50k cash, then loan is ard 600k.

For a 4 bedroom resale flat you're looking at between 500k to max 650k depending on location. So assuming same buyer your loan is about say on the high side 460k. (Assuming if you buy a resale hdb you have to keep some $ for reno)

Now the difference in monthly mortgage, plus the slightly higher condo maintainence fee is around 870 a month. Assuming you take this $ and invest for 10 years at an interest rate of 5%, which is not very difficult, then after 10 years, you would get after 10 years about $130,000, reflecting a gain of 26% from the investment. This is independent of any gain you may get from selling the flat in itself, so in essence you are more 'diversified'. Lets assume a modest price appreciation of 10% of flat price. At the end of the 10 years you would have gained 65000+ 130000 = 190000.

Back to the EC: assuming starting price is about 850 psf and the price appreciates to 1200 psf, then the gain is 41%. However, this gain is ONLY realised upon selling the EC, and is dependent on the housing market. In this scenario you are treating the entire worth of your house as an inbestment so you are 780k vested in the housing market. To me this is a rather risky strategy. Remember, you still need a home, what if you cant sell at your desired price?
Nevertheless, if we assume that you can indeed sell the house for your 1200 psf and you bought at 850 psf, then your gain after 10 years is 330,000 (assume 950 sqft ec.)

Gains compared:
Resale hdb + investment: 190k, of which 130k is highly liquid and not dependent on housing market
EC: 330k, all of which os dependent on housing market and is illiqiuid

So of course you gain more from the ec but this is a highly risky strategy and i feel EC is an overhyped investment vehicle.

Ec price wont go up so much to match condo price in the same area based on what i noticed... most like 800k ec will sell at 1million instead of 1.2million... but if the ec do sell at 1.2million due to overall market go up, then the resales hdb value will be up as well...

 

[Mergui219067]

Agree.
Very few ECs are also well located to MRT stations too unlike condo.

Ec price wont go up so much to match condo price in the same area based on what i noticed... most like 800k ec will sell at 1million instead of 1.2million.....

War chest ready ! HardwareZone Forums app

 

[Mergui219067]

HDB usually has no good landscaping & more
dirty . Overall fee for a car owner ( worse if >1 car in the family)is not cheap.
It has no security / few covered carpark + pools/jacuzzi + tennis courts + gym + nicer BBQ pits etc .

don't think condo maintenance got so high at 870 per mth, moreover you are talking about EC. Usually is ard 300+ to 400+.
If you are taking this maintenance fee into consideration, then for HDB you need to add in conservancy charges and season car park fee as well, which total up about 200+ if you owns a car.

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[Scylla]

i might buy

 

[ducklegsux]

Could be me but I find the quality between EC and PC to have quite a big difference

HDB usually has no good landscaping & more
dirty . Overall fee for a car owner ( worse if >1 car in the family)is not cheap.
It has no security / few covered carpark + pools/jacuzzi + tennis courts + gym + nicer BBQ pits etc .

 

[Mergui219067]

PC better in quality ?
Even CityDev is involved in dispute with its project like The Sail .

Most ECs are in ulu & 鸟不生蛋的地方

Could be me but I find the quality between EC and PC to have quite a big difference

War chest ready ! HardwareZone Forums app

 

[duckyboi]

don't think condo maintenance got so high at 870 per mth, moreover you are talking about EC. Usually is ard 300+ to 400+.
If you are taking this maintenance fee into consideration, then for HDB you need to add in conservancy charges and season car park fee as well, which total up about 200+ if you owns a car.

870 is mortgage plus maintainence fee. Difference between HDB conservancy + carpark and EC maintenance fee is ard $100 odd only. but difference in mortgage is abt 700 dollars odd.

 

[duckyboi]

Depends on whether it is a 5 or 30 year old resales flat. 100k is really the norm for an old resales flat. Suggest you visit some IDs to get a quote if you are looking to buy resales

Nope. for sure not $100k for a 4 room resale if you are willing to spend wisely and be smart. My uncle and also good friend are in the business. $100k is totally unecessary. I think you are being taken for a ride by your ID. I have 2 friends who just did reno for 4rm flats, 1 for BTO and 1 for resale. BTO one spent abt 30k. resale spent 60k. Resale was 27 yo.

If you want to hack all the walls and rebuild with wallpaper and hack all the floor then have super nice Italian marble tiling plus re-do all wiring and have the most expensive lighting with false ceiling with mahogany carpentry and super atas bathroom fixture then ok maybe la.

You can have a nice house with vinyl flooring and track lights, no need marble flooring and recessed lights with false celiling. See whether the ID want to save your money or not.

 

[jeslynsm]

Anyone interested to buy EC, but have eligibility issue? I have some successful appeal cases to share, pm me to know more details.

 

[Justin6699]

Whoever interested in getting more discount or value, pls pm me.

 

[Minteezz]

PM me to get the latest news and updates direct from developer.

 

[Thomcat818]

anyway if u are selling after mop, ur prices gonna be much higher than those ecs bought at 600+ psf la. And they would be open to the larger private market than u at that point of time too.

Nope. for sure not $100k for a 4 room resale if you are willing to spend wisely and be smart. My uncle and also good friend are in the business. $100k is totally unecessary. I think you are being taken for a ride by your ID. I have 2 friends who just did reno for 4rm flats, 1 for BTO and 1 for resale. BTO one spent abt 30k. resale spent 60k. Resale was 27 yo.

If you want to hack all the walls and rebuild with wallpaper and hack all the floor then have super nice Italian marble tiling plus re-do all wiring and have the most expensive lighting with false ceiling with mahogany carpentry and super atas bathroom fixture then ok maybe la.

You can have a nice house with vinyl flooring and track lights, no need marble flooring and recessed lights with false celiling. See whether the ID want to save your money or not.

 

[Justin6699]

Rivercove 15 min walk and walkable to mrt. (Dont have to swim across)

Face the river

Less than 900 psf

Need more details can contact me.

 

[The Poor One]

Rivercove 10 min walk and walkable to mrt. (Dont have to swim across)

Face the river

Less than 900 psf

Need more details can contact me.

Lol. 10 min walk to ? Sengkang MRT? U walk for me to see.

The most is LRT station if 10 min

 

[Justin6699]

Lol. 10 min walk to ? Sengkang MRT? U walk for me to see.

The most is LRT station if 10 min

Brisk walk can reach because other people can walk there in 8 min.

If not, can amend to 15 min. At least we know it is walkable.

Some place are very hard to walk. Need to cross bridge eg Parc Bot.

 

[Eighty7]

Brisk walk can reach because other people can walk there in 8 min.

If not, can amend to 15 min. At least we know it is walkable.

Some place are very hard to walk. Need to cross bridge eg Parc Bot.

I will be interested to see how You brisk walk in 8min. 1.4km in 8min. Even army fast march is 10min per km.

 

[sinicker]

The only EC that one can walk from Sengkang MRT is The Vales. Even then, the residents are taking LRT for 1 stop.

Not walking distance, no feeder bus going into the street.

Expect many many ofo/obike/mobike near guardhouse.

 

[The Poor One]

The only EC that one can walk from Sengkang MRT is The Vales. Even then, the residents are taking LRT for 1 stop.

Not walking distance, no feeder bus going into the street.

Expect many many ofo/obike/mobike near guardhouse.

Those without car, very mafan . I can't imagine everyone bicycling to reach mrt station. Raining days worst.

 

[birmingham123]

Actually i doubt even walking 15mins can reach mrt... this rivercove launch at a bad time... hdb will have a bto nearer to selentar mall this coming may... based on previous launch in nov 2017 for sk west similar area, the bto most likely will be undersubscribed.. this time have 1000plus units to choose and can choose 3bedroom up to 5bedroom... i think unless i hit hdb salary ceiling, else this will be a much better choice for the same area...

 

[birmingham123]

Buyers has 3 options to choose from in similar location.

Hdb bto (may 2918) 5room - 1200sf estimated at 400k
Ec (Rivercove) 3bedroom - 1000sf estimated at 850k
Condo (parc botania) - 1000sf estimated at 1150k

Which will be a better buy if 1 is eligible for all 3 ?