Originally Posted by danntbt
You r new, joined only in apr 2011
Pls go back to 2009 -2010.
I always argued that salary n bonus did not go up as much BUT slot of others said they were higher.
Since they so strongly believe n so willing to pay high psf for mm unit, why then now find a 2 mio prop expensive?
Shud I not be worried that all along these people were lying? N they had misguided others to keep buying?
Bargain hunter was right, all along, from 07 to 10, I never stop asking others to buy big unit, simply becos I see the trend in spore, similar to NY. Where they buy tiny studio n 1 bedded.
As the singles get married n hv family, they need bigger unit. The constant buying of mm pushed they bigger unit price even higher. As a result they now need big unit but can't afford. So they move to the suburbs where the big units are cheaper
I m constantly advising others. Not to buy mm unit becos by the time the need big ones, they can't no longer afford. N have to move to a less ideal location.
You really need to go back n read all my posts.
And when I said big units, I m very clear, a 3 bedded of above 1300 sqft n not the current mm 3 bedded of 1000 sqft n smaller.
Just beginning of this yr , there were still 3 bedDer of 1450 sqft with no balcony at The horizon, river valley. They were affordable. But people chose to buy those new launches of a higher psf n smaller size 3 bedder.
To Devilplate. My intention is to wake up those who buy mm units, duos the day when come when they need a proper size unit, but by then, it would be too exp for them. So I always say buy big unit.
If all of you choose to think I hv bad intention or deliberately trying to misguide, too bad.
I repeat, what I preached since 2007. Buy big unit, old ones, no need to be new launches cos they cheat on the usable space n must be FH.
To Dannt. Go read my old posts before you comment on me
Yes I own landed of 3600 sqft with 4 bedrooms, 3 baths. Other similar landed would be at least 5 bedroom + 4 baths.
I also own penthouse of 2270 sqft 4 bedroom 3 baths , about 1800 sqft + 400 sqft terrace. I also own a 3 bedroom, 2 baths condo, no planter, no bay window.
U can see they are all big units. With good size rooms. As opposed to the current mm units.
I m not worried about mortgage cos I only have 1 loan. 2 units are rented out, to expats cos they love the Room size which is much bigger than the new mm's. I m leaving the 3 bedder unrented for own use when I come back for home leave. Cos I don't want to stay hotel.
I worry becos those who sai salary were up, bonus up were the same people who now said they find a 2 mio condo expensive.
By the mid of next year, my only mortgage will be fully paid. Should I worry for myself?
Or should I worry for those why bought multiple mm units?
When the time comes to buy decent sized units, will it be affordable?
Of course u can wait for price to drop then buy, at which time, your mm units would have fallen as well
I also did not ask anyone to hit 2-3 big units. I said , instead of buying 2-3 new mm units, might as well buy 1-2 big ones, old projects. But must be FH
I have not stopped posting since 2007-8.
Originally Posted by devilplate
Those who disappeared were Reporter, Propertism Jlrx, Property owner etc.
I never left.
What's my agenda? Did I not say a 3 bedroom of 1300 sqft n up? And not 1000 sqft n lower?
All I m saying is not to buy mm units. And I have also redefined MM as one thats smaller than what it used to be. N I specifically mention 3 bedroom
I didn't ask anyone to buy 5000 sqft condo, did I ?
I also I enjoy space. A 1281 sqft 3 bedroom with no silly bay window, planter or balcony is damn decent size. Compared to a 1100 sqft new mm 3 bedroom with balcony, bay windows n planter. Leaving usable space of maybe only 700-800 sqft.
That's all I said.
And that's my agenda.
Thank you Bargain hunter for understanding my points.
It's sad that my good intention is deemed bad, or with agenda to misguide or desperate attempt to help push my big units.
So go ahead n buy tiny sized units with high psf, If u think my asking others to buy proper decent sized older unit carries some agendas.
I still do not agree with the worry about those buying MM would not be able to afford a larger unit when the time come, the psf for smaller units will always be higher, and the revenue as investment would allow investers to hold these longer rather than the bigger ones as most MM are strategically located. Its the MM in less ideal loacationthat may not attract the single or couple in the rental market that may be an issue. Large units are more vulnerable to economic climate in terms of rental. The average investers would not have the means to go for big units...and by big it was mentioned that the PH size units? or we are looking at quantum of 2Mil? I am reading so much inconsistency in your posts....one minute you refer to absolute quantum, anothewr minute large sizes.
My main issue with your comments is that you are worried that people say this or that....people can cay anything on this forum, its for you to discern what is believable and what is not, when people say salary has increase a lot....if you know what is going on in the job market, you should know, so why worry what people say here? If the statement is coming from finacila analyst or economist then its an issue...but you are talking about anonymous forumers....you are just a nick, I am just a nick...so is every one here....why would I want to go back and read your 2009-2010 posts? I am not doing an economic research or anything....I am just looking at what's being said that is relevant to now...
And why would the average Joe wants a 4000sq ft apartment when all he needs is 1200sq ft? its better to have a smaller one and maybe a MM to rent out, otherwise would one want to rent out one of the rooms in the 4000 sq ft to a stranger?
Good for you if you have the means to get your PH and Biggies...you are perhaps the top 1% of the income earners...the other 99% would have to face the fact that land is limited in Singapore, eventually what we can afford would get smaller and smaller....existing ones would sooner or later go enbloc and get cut up into smaller more expensive units, just look at what interlace did to the original property, and where are the owners of the 1600 sq ft now?
Last edited by danntbt; 19th May 2011 at 06:40 AM.
MMs are quite alright as investment, as it provides a stepping stone to owning bigger units, but they must be 999 or FH. Buying very large units means more loan and greater exposure to financial turmoils for most people.
Nowadays very few people spend a lot of time at home. Couples are full time working with OTs and children spend lots of time in school. During holidays, families just go overseas. Family size is also shrinking. Personally I prefer 2 or 3 bedrooms around 1000 sqft. Larger than this means more $ upfront and more maintenance $ and time.
u advise other based on ur own financial strength and circumstances....u nvr tink of other's financial abilities n just make a general statement. those who cannot afford big+FH will need to buy smaller+99LH. big+old, how much is the reno cost? u r just assuming all got tons of cash like u?
Originally Posted by proud owner
u keep saying salary din increase much and yet telling ppl to buy big big units....den who they gona sell them to? u say ppl upgrade? u just giving more and more scenario tat dun make sense. in the first place, y ppl go for smaller unit its becoz they cannot afford big unit for own stay. so ur big unit next time, can those 1st timer afford? or u just restrict urself to ur imaginary upgradder?