Hi Blog
Today’s thoughts are about buying selling flats/ renovation…
It seems my sis hooked up with the MP for the estate, and He is looking into the matter with HDB to remove my dad’s ownership in the flat. This means we can sell/ buy another place or take a renovation loan for the current flat.
Now I have a few problems.
1. My flat is valued at about 300k but it is not in good condition. It needs new M&E works. And I would love to get rid of the ugly mosaic tiles in the kitchen and 2 bathrooms. So I need to renovate it even before I can sell or rent. Reno and miscellaneous cost more than 20k cold hard cash. I cannot take reno loans without being the current flat owner. Problem solved once I replace my dad’s name in ownership.
2. I can buy a flat with my sis under the HDB family nucleus thingy. But I have this sick feeling I will be the only one paying for the house in time to come. No offense. And if I ever can trust men or human beings in general, again and decide to get married, I have nothing left for my OWN flat.
3. Even if I do find money to renovate and rent it out, I will need to purchase another one at a 250,000 cap. this amount is derived from my CPF account + Maximun loan( which is $1900/ month over 10 years OR $800 over 20 years) 250k can find me a place in ulu places such as punggol and sengkang, a 4-5 room resale flat. But.. I want those big windows and new flats in mature estates such as ang mo kio and bishan! there is a chance to reduce the loan/ installment amount if I use my cash earned from current flat. Hopefully I don’t need loans. But I really love m
The above 3 options are void since I have to pay make sure I don’t jeopardize my bro’s uni expenses/ partial tuition fees. I also have some big expenses in the few months to come. And NO huge expenses are already exclusive of diving trips.
*screams out in frustration* I feel I have 30 year old dreams but I’m just a 24 yr old person with a 24 yr old kind of salary. Can I somehow get 6 year’s advance…?
Jodi Chen
Designer
HBA / HIRSCH BEDNER ASSOCIATES
DESIGN CONSULTANTS
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