Some HDC home prices published

[AbstractPoetic]

ap contrary to may beliefs i have coem across quite a few women who despote their lack of tertiary level eduction can count money and manage it effectively

Did I ever imply in this thread there being a direct correlation between a woman's money management skills and her level of education?

I think not.

And by money management I mean having the ability to not only count but save and have something to show for it.

Not saving under the mattress, or in a safe, but by doing the research, speaking with a consultant and gambling a bit. Not only being safe but taking risks.

And not having the mentality that buying an Audi and going to the mall every weekend is effectively "showing" one's ability to have and manage money.

again i saying i have met a few who impressd me because they did not get a college education still manage to manage and save a sizeable portion of their salary

this shows that there is still alot of women in trinidad who capable of helping out in any relationship both financially as well as morally ...

my g/f has saved and bought her own car as well as put aside some for her futuer in regards of investments ...

Your "few" encounters in no way infers the existence of "alot of Trinidadian women...capable of helping out...both financially as well as morally"

Given the reaction of your male counterparts, seems to be to the contrary.

in other words she used her commmon sense and not book sense ...

Not that one necessarily needs book sense to manage funds.

[kes_vtec]

Not bad at all.

\

Ap, those houses are of a very inferior quality. Anybody resorting to buying one should be very careful in doing so.

again very very poor house and it is the house i am talking about...

from the time you see the house you will be turned off by it and then to see the two houses around you lass then 10ft away... on just over 3900sq ft of land...

[rebel sounds]

well let me shed some light on this situation -- now i have one of these houses and have been blessed to actually receive one --- the actual cost of these houses are somewhere close to half a million if not more--the government subsides some of the cost --- thats just the house ask the valuators -- you still havent included the cost of the land -- now with the skyrocketed prices of houses-- if your job doesnt guarantee you close to 20,000 a mth -- you're in sheit street -- unless you have a little parcel of land from papi or mami --waiting for you -- tehn there is the cost of building --- if know of some really highly paid people who have applied for these houses -- and are really trying to get one -- cause they realise to get something comfortable you're gonna have to pay over 1 million -- ie. for a good thirty years --- so in light of the situation -- not all the houses are badly constructed you mite get few and far -- yopu have to realise that the more fancy they are the more costlier it becomes and then you're back to square one -- over priced homes -- so my advice is apply for one it wont hurt -- but before you send in the application check out the areas available --or the area you want --then apply --- foresight is a gift -- you can plan to extend in years to come -- and end up with a close to million dollar home for just -- what 300 000 at the most initally --look it s either you try to make a bad situation work for you or sit around and wait for caroni and bwia to return --so house prices can go back down --- no i dont work hdc or will i ever -- just a homeowner -- pm if you need any advice --i've done the procedure already

[teems1]

^^

Paragraphs and proper punctuation dude. It sucks having to read long posts without it.

[rebel sounds]

sorry teems -- but when at work time is against me --tiefing a lil chance when i get it --my apologies

[cheese pie]

TEAM WISE MEN, what was the applicaiton process like ? and is it a lottery system ?

[rebel sounds]

it is both a lottery system and if you have a ministerial letter or a letter from the office of the prime minister. it is a long process with about three interviews and the mortage papers will take years to receive once you qualify but you just pay accordingly until such time .
The criteria is easy its as hard as failing a urine test ,you cant have any land or property in your name though

[redmanjp]

anybody know what kind of mortgage you would be paying once you get a HDC house and how long you would have to pay it for? would it be less than the $3500 rent per mth we paying now?

[*$kїđž!™]

what about the neighbours you gonna have living in a HDC neighbourhood........

no disrespect rebel -----but it is something to consider........I would.......

And prices of land would not be going down......Prices have held on for a long time now......the expected decrease already happened and it was not by much at all......

[Mudboy]

Ask Pioneer....he is the man with the house, and is not squatting......

Conrad and CBH....before I met my wife I couldn't save a dollar.........two heads and a good plan can buy anything in Trinidad............

CHB the Unit Trust is the ideal place to make a start and the shares accumulated, will help out if you need a small loan on a short notice........

[janfar]

Owning a home on a mediocre salary is not that difficult.

Take my 2 sayings and you just might be on your way.
Crix good wid anything.
A B11 is the best car in the world!!!

[red bwoy]

I have a hypothetical solution to owning an HDC house........... if UNC in power husband join de party wear plenty yellow juzzee and wave real flag ask de MP to help yuh get ah house when PNM in power wife do the same thing jus mek sure and have yuh money to pay yuh mortgage




jus saying allyuh doh kill mih

[redman24]

based on my personal experience paying a mortgage is really hard. if i had half the knowledge that i have now i would have bought a piece land an built piece by piece. i borrowed $625,000 to buy open market and at the end of 30 yrs i will be paying back just over $2,325,000. Out of $4835.00 i now pay $558.00 in principal and the rest goes to the bank as interest charges and i'm only 6 yrs into my 30 yr mortgage now at 8.5% reduced over the years. not to mention house insurance is excluded.

be advised that the .."i finally got my own house feeling" is a false one that disipates quite rapidly after your mortgage payment kicks in and you realise that the bank really owns the house and not you and you're now thier slave to ensure they make thier interest profits.

band yuh belly buy a piece of land save up and build piece by piece. dont be fooled by pretty home ownership ads like i was, banks give you nothing theres a profit behind everything

[boxy]

Give TTMF a call see if they will buy out the loan that u currently have from the commercial bank and take the loan with them based on the government 2% program. Doesnt hurt to try

[redman24]

tried but that offer at TTMF is only for first time homeowners. i was offered 8% thats just 0.5% difference from my current rate plus they were not including the re-evaluation cost and switch fees into the general cost.. i had to come up with the cash...
would still advise any person thinking about going for a mortgage whether HDC or otherwise just make sure your total installment inclusive of insurance doesnt cross 30% of your gross or better yet net salary... you have to live and there are always unexpected expences.

[biggy82]

would still advise any person thinking about going for a mortgage whether HDC or otherwise just make sure your total installment inclusive of insurance doesnt cross 30% of your gross or better yet net salary... you have to live and there are always unexpected expences.

banks dont usually allow you to go over 35-40% debt-service ratio.....and thats total debt eh, not just the loan that you may be applying for

[zoom rader]

based on my personal experience paying a mortgage is really hard. if i had half the knowledge that i have now i would have bought a piece land an built piece by piece. i borrowed $625,000 to buy open market and at the end of 30 yrs i will be paying back just over $2,325,000. Out of $4835.00 i now pay $558.00 in principal and the rest goes to the bank as interest charges and i'm only 6 yrs into my 30 yr mortgage now at 8.5% reduced over the years. not to mention house insurance is excluded.

be advised that the .."i finally got my own house feeling" is a false one that disipates quite rapidly after your mortgage payment kicks in and you realise that the bank really owns the house and not you and you're now thier slave to ensure they make thier interest profits.

band yuh belly buy a piece of land save up and build piece by piece. dont be fooled by pretty home ownership ads like i was, banks give you nothing theres a profit behind everything

That's how injun Ppl do it bro. They live in a shak and in the space of 10 years up comes a mansion

[redman24]

word bro. word its a proven strategy

[Redman]

based on my personal experience paying a mortgage is really hard. if i had half the knowledge that i have now i would have bought a piece land an built piece by piece. i borrowed $625,000 to buy open market and at the end of 30 yrs i will be paying back just over $2,325,000. Out of $4835.00 i now pay $558.00 in principal and the rest goes to the bank as interest charges and i'm only 6 yrs into my 30 yr mortgage now at 8.5% reduced over the years. not to mention house insurance is excluded.

be advised that the .."i finally got my own house feeling" is a false one that disipates quite rapidly after your mortgage payment kicks in and you realize that the bank really owns the house and not you and you're now their slave to ensure they make their interest profits.

band yuh belly buy a piece of land save up and build piece by piece. dont be fooled by pretty home ownership ads like i was, banks give you nothing theres a profit behind everything

Breddo -yuh roughing up yourself.
There is no right way to do this----both have their attendant benefits,risks and downside.

You might want to run some numbers -just to keep your perspective.
Insert your numbers-I will use general figures.
Market value of your property vs settlement value on the same date-Im sure over the last 6 years your value is higher. The difference is yours.

The repayment figure is time based and that looks bad on the face of it.
But..the reality is that your debt increases by the rate of interest-(based on your numbers sub 9%)
The purchasing power of the TTD is decreasing by the rate of inflation...lets say 5%
So the real cost to you is 4%.
If the asset is appreciating at a rate higher than 4% mathematically you are ahead,without factoring in your cost of living in the spot.
So with a fixed installment you are paying the bank less purchasing power every month.Meaning that you pay 4835 dollars that buy less every month ...for an appreciating asset.


If you were building piece by piece-you doing work for however long at ever increasing costs-purchasing to some extent locks in your cost per sq foot.
Compare that with cost of construction now.

The attendant frustration of workers/mess and discomfort and how it affects family life....children and tools,exposed rebar,concrete etc etc etc.

To bring the 2.2 figure down -make extra payments -and specify that the $$$ over and above the installment go to principal.
The faster you bring down the PRINCIPAL owed the less the loan will cost you.
If your bank grumbles about the principal payments ....change your bank.
The banks wants to keep a good customer that pays the installments on time.

And yes the banks motive is to make profit....but think about their cost of funds...1-2% (deposit rates) so the margin is 7%-What you buying in TnT for a 7% mark up....besides gas and diesel???


You made a good decision and a brave one...and you know what you have.
Congrats

[Average]

If you have any loans, please clear them. It helps if you have loads of money saved up as well. I Currently have 4 years remaining on my vehicle loan and didn't qualify for much.

[eitech]

Is like since ttmf bring this 2% and 5% bracket, properties prices went up to still keep ppl outta reach of a home. I remember a couple years ago I coudnt afford 1mil up, now I cud it jus outta reach again. steups

[TriniAutoMart]

It is true that houses on the open market are not affordable to the average citizen.

Subsidised housing is sometimes the only option for most.

The 100 homes per week is helping a lot of families get homes where they could not have afforded on the open market. One would hope that this may cause some realtors to drop their prices to something that is more affordable.

[crazybalhead]

LOL@ realtors dropping prices. Unfortunately this is not the case. Still quite ridiculous.

[rane]

3 bedroom in union hall cost me $825k

[TriniAutoMart]

3 bedroom in union hall cost me $825k

That can't be right. Union Hall prices not so high for HDC houses.

[rane]

Big youth when you get through you will see.

[urbandilema]

Honesty I tried myself getting tru to get one of those hdc homes but failure is who u know and sadly some ppl I know who get tru I ask em to help me dem say they will but nothing..I jus give up on them and to add think this all political gimmicks as eg giving the fire service homes but me as being a fellow civil servant serving tnt I have not been called.their hdc lotteries have to me I think are gimmicks as we trini suffer from gold fish syndrome.i say to my self best save to buy a piece of land but dats like even more depressing.everyting I check is out my bracket.and yes those union hall homes are given to some persons to day who passed money or the perverbeal grease and to add I even know actual people who received it that way.

[zoom rader]

Honesty I tried myself getting tru to get one of those hdc homes but failure is who u know and sadly some ppl I know who get tru I ask em to help me dem say they will but nothing..I jus give up on them and to add think this all political gimmicks as eg giving the fire service homes but me as being a fellow civil servant serving tnt I have not been called.their hdc lotteries have to me I think are gimmicks as we trini suffer from gold fish syndrome.i say to my self best save to buy a piece of land but dats like even more depressing.everyting I check is out my bracket.and yes those union hall homes are given to some persons to day who passed money or the perverbeal grease and to add I even know actual people who received it that way.

Bro it's real sad of the nasty state trinis are in. Trini is for friends with money.

[greggle71]

As long as there is a thriving drug trade in TT, real estate prices will continue to be out of reach to the young professional.

[Rory Phoulorie]

3 bedroom in union hall cost me $825k

That can't be right. Union Hall prices not so high for HDC houses.

The recent houses constructed by HDC in Union Hall are targeted at middle income families. The designs are quite nice to be honest. Also, don't forget that in a housing development, you are not only paying for the structure and land, but the supporting infrastructure (roads, sewers, water supply pipelines, etc.).