What are the considerations when buying old FH condos?

[golden_eagle]

What are the considerations when buying old FH condos like Primo Residence in Kovan. I like the quiet environment and the close to parks and close to MRT. It may be nice to buy for own stay. 

When I look at the exterior, there are rain black stains in some units already. I heard that doing an exterior paint would cost extra money from residence rather simply using the sinking fund. Then there is repairs inside own unit due to wear and tear, mold, etc. What are the major issues which may require residence to fork out additional $? 

What are other considerations? 

Thank you!

[Agent008]

Condo have sinking fund and they will carry out exterior painting every 5 years or 10 years if they are cheapskate.

 

Inside your own unit, you have to repair on your own as its 100% yours. Outside is shared so the condo maintenance team will definitely step in if it's very rundown.

[Sdf4786k]

probably its slated for enbloc and hence the run down condition?

Edited February 5, 2018 by Sdf4786k

[BanCoe]

How old is the condo???

How many units are there in total??

How many levels and lifts ??

Old is Gold always , but maintainence issues will crop up from time to time; having said that ; never ones are just as bad too   

The layout of the old condo's are far much better than the newer ones which have so much balcony space and hardly any kitchen space at all (which I guess is the lifestyle of the young nowadays to eat out)

If the premium of FH over leasehold in that area is like 10-15% go for it,well at least your grandchildren or greater ones will remember you for this decision

Other things to look at is plot ratio......etc.... with the view to enbloc and cash out       

What are the considerations when buying old FH condos like Primo Residence in Kovan. I like the quiet environment and the close to parks and close to MRT. It may be nice to buy for own stay. 

When I look at the exterior, there are rain black stains in some units already. I heard that doing an exterior paint would cost extra money from residence rather simply using the sinking fund. Then there is repairs inside own unit due to wear and tear, mold, etc. What are the major issues which may require residence to fork out additional $? 

What are other considerations? 

Thank you!

 

[Voodooman]

Checking sinking fund balance. May need works on waterproofing, killer items are repainting and lift replacement.

[Jamesc]

One consideration is how long you will actually get to live in the condo.

 

My fren uncle buys old condos then agitate the neighbors to go for enbloc.

 

I heard another lady bought a condo hoping it's her last move.

 

She spent 300k on Reno and it went enbloc. She went to court but lost both times.

 

80% in favor. So she lost money no so important as she is rich but lost

 

her dream place to live out her days.

 

[Volvobrick]

Only 1 consideration - enblocable!

[Sdf4786k]

One consideration is how long you will actually get to live in the condo.

 

My fren uncle buys old condos then agitate the neighbors to go for enbloc.

 

I heard another lady bought a condo hoping it's her last move.

 

She spent 300k on Reno and it went enbloc. She went to court but lost both times.

 

80% in favor. So she lost money no so important as she is rich but lost

 

her dream place to live out her days.

 

 

most old places like Hume park, Hillview area are still quite large and still within reach of that 1mil mark for 1100 sqft.

 

If you are lucky, can get something even better after negotiation.

 

Sometimes buying a place is like getting a feel good feeling about the unit. So, I can identify the lost that the lady went thru just to get a place to live out the rest of the live.

[Porker]

One consideration is how long you will actually get to live in the condo.

 

My fren uncle buys old condos then agitate the neighbors to go for enbloc.

 

I heard another lady bought a condo hoping it's her last move.

 

She spent 300k on Reno and it went enbloc. She went to court but lost both times.

 

80% in favor. So she lost money no so important as she is rich but lost

 

her dream place to live out her days.

 

That lady must be your mother in law for you to grin so hard