Well to my observation, some of these repurchased units sold under open booking or SBF schemes has the basic renovation done. Some even have their toilets beautifully renovated and comes with built in kitchen cabinets. Only very few were seen sold in its original condition. It all depends on individual needs & financial capacity. My former 4 room flat (1984 flat in a central area) was already facing some water & gas leakage problem. (Made a few complaints of the faint gas smell over the years while we were living in that unit) Not only that. Since the early days of my family’s stay there, that area was known to have problems with cockroaches. Worst still my unit was on the lower floor! And now I heard the new owner is putting up the unit for sale about over SG600K! Given the area is within reach to many good malls, mrt stations, schools & hospitals. I doubt any potential buyers will notice these “real issues” if there is a good agent emphasising on these amenities as its main selling point. My take on buying older flats, for my case – with my current age at 49 if I find units that are selling like that of the recent 3room open booking unit @ AMK for SG193K & has its interior decently done up? I wont mind buying if the unit & location serves my needs. What’s more when I am eligible for the housing grants including close proximity to my married child plus my balance CPF, I am able to get the unit fully paid. And with a calculation of SG200K work out to live the rest of my life for the next estimated 40 years? That will work out about a tenancy cost (since it is indeed a 99 years leasehold unit) of SG417/month, I am happy already. Considering the recent HDB new policies of granting lesser percentage of HLE loan from the former 90% down to 85% then lower again to 80%. This amount I am paying is still a better choice than renting out at a few thousand dollars elsewhere that I cant call it as my own. Most importantly I do not wish to be burden with a 15 to 20 long years of repayment plans. And the processing time under open booking is attractive too. Like I mentioned earlier, it all depends on individual needs & financial capacity.
