My friend haolian to me he got a good queue number for the Bt Merah BTO and say his house confirm gonna hit 1mil next time.
He say his is 4 room and his queue number is two digit so confirm can choose a high floor with a good facing. Not that I want to be wet blanket but I think he might not huat as big as he thinks he can leh.
Super long wait
You see ah his BTO will take more than 5 years to be ready, if delay lagi worse exceeds 6 years then he still must hold for 5 more years and then can sell. Let’s say if he really buys high floor one at about 600k then reno maybe 80k and he sells for 850k. His net profit is about 170k. But this is spread across 10 years leh, provided no delay. Some more while he waits for the BTO to be built, he wants to rent a place to stay cos both parents house no space so that becomes extra cost already. If he sell his house at high price then where he stay? The other houses confirm will be expensive also ma. Correct? Unless he stay with his parent then can save more cost and maximise profit but I see his pattern I don’t think he will.
Best is buy the more ulu area at cheaper price then sell in resale market at normal price. Like me I bought my cck five room for about 340k, my reno only 30k but now I can easily sell it for at least 570k. Earn 200k profit leh. Some more total I only spend about 8 years.
So I don’t get why so many people want to chiong all these so-called ‘prime areas’. Is my math too good or their math not good?
Here are what netizens think:
- His BTO can sell for 1.4m next time. Now, you dun so sad, okay
- Neither. Because u don’t hao lian as much as your tua kang friend.
- Pay resale levy, pay back CPF interest…