Hi all,
I am planning to buy a village house in Yuen Long (no mortgage loan required - pay in full). I currently own an apartment in Kennedy Town and it's been pretty great so just wondering if I should be alert on some things that come with owning a village house?
Cheers!
Please support our advertisers:
Your appartment in Kennedy Town is much more liquid. There may be problems with title at the Yuen Long village house. Banks are more reluctant to lend to buyers of village houses (I know you do not need to borrow). There is a reason for this.
Please support our advertisers:
thanks as always for your comments LGMV - much appreciated! it's more of an investment and i'm looking at the newer houses with security gates, etc. so agent said it's pretty ok these days.
Please support our advertisers:
I would only consider a NT house for lifestyle. I wouldn't buy a NT house for investment unless it is from a mainstream developer such as SHK, Henderson or Wheelock.
Please support our advertisers:
I can't comment on village houses as an investment, but do get your lawyers to check (i) good title (ii) guaranteed access rights (iii) no illegal structures.
Please support our advertisers:
thanks for the tips, LGMV and traineeinvestor! i hope to sell the kennedy town property later and then settle in the NT for lifestyle :)
Please support our advertisers:
Hugie
11 yrs ago
I bought a village hse 4 years ago. Gated complex of 6 houses. Make sure it is a developer or a person who has used a developer. I say that because the paper work is so much less if a developer has been used. I looked at a new private village house but was warned away from it, as the agent said the land ownership might be a problem in the future. You don't need a mortgage, thats good because the big banks don't want to know!
Check access rights, but as for illegal structure just be prepared to pull it down if the gov say. Mind you a new property probably wont have any! I bought my home because I was fed-up with moving, it's a great life in a village.Just one Q, why Yuen Long? Enjoy.....
Please support our advertisers:
thanks hugie! yuen long because i'm more familiar to that area than others - not a good reason, i know! after the new measure in place, i'm hoping to get one (village house or an apartment) under $2M out there - when i did some viewings last month, i was shocked that tiny apartments were on sale for not less than $2.5M. if that's the case, i rather buy one on hk island but waiting for the prices to drop...zzzzz
Please support our advertisers:
You must be logged in to be able to reply.
Login now
Copy Link
Facebook
Gmail
Mail