Asked by Anonymous
Asked on 18 Oct 2018
All else being same.
I would choose to buy the cheaper flat and remodel it myself as I’m pretty sure I can do it the way I want with less than $80K. Some of the fixtures that come included with the $80K worth of Reno may not last long and also doesn’t seem to be inclusive of furniture.
The design of the place will be subjective to your liking. So if you like the design and still well maintained fixtures, then yes. But another point to note is, do you have the extra $80k in cash? If not, it will be part of mortgage loan which is only 1.8%-2.6% interest per year depends on bank or HDB loans. But if u chose to renovate yourself without own cash, then you have to take renovation loan which is 5% interest per year.
20 Oct 2018
I had to go through this thought process myself. Here's mine.
does the design really suit you.
Eg: false ceiling is a trend. But it makes your ceiling lower.
Things that are mounted has a lower weight limit.
Reducing the concept of wide and high space for good living.
Every design feature needs to be analyzed to see if it fits.
80k price point is possible for a full renovation
It's not about the smarts. A lot of these designs are driven by emotions. You just have to rise about it.
Depends on what you need, do you need to move in immediately?
I'd think renovation can cost less than 80k, so you can save money remodelling.
How about other factors such as additional works (and thus, additional costs), the unit's location/age etc?
Depends on how long you intend to stay there.
Stay there long term, make room for some budget to do up the place according to your style, if not minor works would suffice
Neither is a good choice. Buying BTO directly from hdb is better. Just my humble opinion.
Do note about compond interest in resale HDB and negative sale.
I will not buy resale HDB if I got a choice.