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Jumbo HDB unit - do they have potential market?

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nik_nit
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Jumbo HDB unit - do they have potential market?

Postby nik_nit » Tue, 07 Nov 2017 8:36 pm

Hi all, currently we live in a Jumbo flat (Two 3R flats adjoined) which is 146 sqm. Less than 0.2 km (just outside Serangoon interchange), proximity to NEX mega mall, all shop houses, clinics, ATMS, Kopitiam & Food court at Level 1. We are confused whether to sell and upgrade to condo or retain it. If we have to sell, we are not sure how much can be asked for such a property. Are there buyers who are interested to buy such a jumbo unit these days? Is it worth to move to a condo or not? Any advise on this will be helpful.

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PNGMK
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Re: Jumbo HDB unit - do they have potential market?

Postby PNGMK » Tue, 07 Nov 2017 9:32 pm

THey are intensely popular actually - or used to be - as they are often in older estates with smaller flats.
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Re: Jumbo HDB unit - do they have potential market?

Postby Barnsley » Wed, 08 Nov 2017 11:00 am

nik_nit wrote:Hi all, currently we live in a Jumbo flat (Two 3R flats adjoined) which is 146 sqm. Less than 0.2 km (just outside Serangoon interchange), proximity to NEX mega mall, all shop houses, clinics, ATMS, Kopitiam & Food court at Level 1. We are confused whether to sell and upgrade to condo or retain it. If we have to sell, we are not sure how much can be asked for such a property. Are there buyers who are interested to buy such a jumbo unit these days? Is it worth to move to a condo or not? Any advise on this will be helpful.


How many folk live the flat?

If there are a lot of folk in it , I am not sure what benefit you will get from moving to a condo other than a lot less space for everyone.
Life is short, paddle harder!!

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sundaymorningstaple
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Re: Jumbo HDB unit - do they have potential market?

Postby sundaymorningstaple » Wed, 08 Nov 2017 5:59 pm

I was once upon a time. But the only ones I could find on the market then were all out in Yishun or Woodlands. Would have loved to find one where you are located. But I'm just down the road from you and my 5-room (4 BR) resale is paid for and I'm 70 and trying to get rid of some of the 'permanent' guests as it is. So I can't be of too much help.

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Re: Jumbo HDB unit - do they have potential market?

Postby nik_nit » Fri, 10 Nov 2017 5:17 pm

Thank you all for the feedback.. We will reconsider selling the flat.. But we are also worried that the flat is 34 years old already.. should we sell it or will enbloc give good benefits? Nearby mansionettes are selling for around 950K whose sqft is almost the same as ours.. how much we could relatively ask for?

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Re: Jumbo HDB unit - do they have potential market?

Postby Barnsley » Fri, 10 Nov 2017 7:25 pm

nik_nit wrote:Thank you all for the feedback.. We will reconsider selling the flat.. But we are also worried that the flat is 34 years old already.. should we sell it or will enbloc give good benefits? Nearby mansionettes are selling for around 950K whose sqft is almost the same as ours.. how much we could relatively ask for?


Wouldnt you get more to divide it back into 2 flats or is that not possible?
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Re: Jumbo HDB unit - do they have potential market?

Postby nik_nit » Mon, 20 Nov 2017 3:54 pm

I am not sure if we can sell just one flat.. Anyway we are not looking for that option. Either we sell it as a whole or retain it. Will the age of the HDB affect our sale? Anyone knows?

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Re: Jumbo HDB unit - do they have potential market?

Postby taxico » Mon, 20 Nov 2017 4:35 pm

have you considered where you'll move to after selling the flat? (without thinking about how much you believe you deserve for your flat)

how big of a loan (if necessary) are you eligible for?

for your next property, do you have enough money for the option to purchase?

will you be able to afford to it if either the buyer or seller pulls out of their respective deal?

HDB en bloc is no longer as straight forward as them saying "here's some money and a preferred customer card you can use to skip the BTO queue"... (google it - i think lawrence wong said so in parliament not long ago).

and... do you (and your family) like strangers traipsing through the flat while you're still living there? (and other inconveniences that come with showing a property)

i think to most buyers, a maisonette is more "atas" than a jumbo flat... especially since they tend to be low rise buildings (not sure if this is universal, just my observations from having visited a few) and located in quieter areas.

also, is your flat well located? (north/south or whatever, higher floor, corner unit, etc... the stuff that singapore buyers like)

if it's on the 2nd floor beside a dump at the corner intersection facing the flyover... you're not getting 950k, that's for sure.

if you and your family are happy where you are, and you didn't pay top dollar for your flat, there's no need to rush into a sale "just because..."

nonetheless, talk to a (few) property agent(s) and let the market decide. you will get as much as someone is willing to pay for it.

and FWIW... condo living in singapore may not be the "upgrade" that you think it is. good luck!
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