To buy EC now or save for 2nd Property

[sunrise]

Hi...I have a HDB flat and I am still aiming for my second property in Mt Sinai.

It can be done.

we know can be done, but ...when? or after the war?

[adriel]

Hi...I have a HDB flat and I am still aiming for my second property in Mt Sinai.

It can be done.

Share your plan bro.....

[gilaone]

Share your plan bro.....

Lol. Don't go there.

[Kelonguni]

thats why i say that one should leverage on hdb to go into pcs if i had done that many years back i would have a few pcs but i never i stuck to my hdb and now as i am at halfway point in life a bit too late cos of all the cms so i just hold on to what i got but my advice to someone in his 30s is DONT waste oppurtunity if u bought ur hdb cheap and make a killing offload and go into pc cos HDB got a LOT of restriction and NO freedom to suka suka do what you want anyway as usual just my 2cents advice

Given the current situation, it would have been a better decision to have leveraged in the past.

Nonetheless, given the myriad types of situations that COULD HAVE arisen, holding onto HDB is not necessarily a bad choice. It gave Radha a choice to upgrade at any point of time, did it not?

Of course, going forward, it's possible that new regulations could suddenly disadvantage HDB holders in future, and they could be better off by selling today. There is no guarantee indeed.

But in actuality, the decision to hold (HDB) or to sell (and upgrade) is a complex one. It largely hinges on your views and priorities in life. For example, what is your ideal retirement age? Do you work very hard for your career or just the minimal to get by? Do you have children? How many? And what options do you want them to have in future?

So give these some thoughts. It is always easy to think with hindsight of what has already happened, that prices have gone up so much and those with higher end properties benefited the most. If I knew that my house number would strike 4-D, I would have staked my whole fortune on it. But then, on a day to day basis, I usually do not subscribe to 4-D.

Consider alternative scenarios, best case, worst case and average situations. Think about how you would feel in each, and make your call accordingly. All the best!

[yowetan]

Lol. Don't go there.

I must admit my plan is not the cup of many fellow forummers here.

My plan is extraordinary uniquely proprietary to me. It is really not easy to execute the plan.

As to when will it be realize as questioned by one forummer, I won't know until the crash is hitting here Singapore.

I am smelling the storm since weeks ago, and it is impacting the stock market. It is sweeping to property soon.

[Komo]

good to hold on to a hdb and pc until can afford a second pc. By then may be better off to offload hdb. Once in private market, don't see the point of staying in hdb market.

[Kelonguni]

http://sbr.com.sg/residential-proper...pore-dipped-06

With two PCs, rental might be an issue, especially with the mass of PCs slated to arrive in some places.

PC's higher price and smaller size are important factors that need to be factored in where rental is concerned.

Nonetheless, there are different kinds of markets, and one should familiarise himself with the market aimed for.

[radha08]

Lol. Don't go there.

loEl

[radha08]

but to "suka suka" do what you want.....would mean u require you to have 2 properties to really leverage on whats happening.....ideally (or financially constraint) it means having a hdb and a PC. having 2 PCs seem like a tall order for a family in the sandwich class......

suka suka meaning you got no restrictions when u own a pc you can do as u please no rubbish minimum occupation period no rental restrictions you can rent to who u want when u want UNLIKE hdb

[DKSG]

I must admit my plan is not the cup of many fellow forummers here.

My plan is extraordinary uniquely proprietary to me. It is really not easy to execute the plan.

As to when will it be realize as questioned by one forummer, I won't know until the crash is hitting here Singapore.

I am smelling the storm since weeks ago, and it is impacting the stock market. It is sweeping to property soon.

Oh My God !

DJIA up more than 200 points last night !
There will be a major upsurge in our property market very soon !~

Posting the above based on some silly people's non stop chanting.

DKSG

[radha08]

Oh My God !

DJIA up more than 200 points last night !
There will be a major upsurge in our property market very soon !~

Posting the above based on some silly people's non stop chanting.

DKSG

HUAT AHH

[wsx123]

I must admit my plan is not the cup of many fellow forummers here.

My plan is extraordinary uniquely proprietary to me. It is really not easy to execute the plan.

As to when will it be realize as questioned by one forummer, I won't know until the crash is hitting here Singapore.

I am smelling the storm since weeks ago, and it is impacting the stock market. It is sweeping to property soon.

Even if that storm arrives today, a $50K is very likely not enough.... Good luck..

[freesoul]

[QUOTE=S0undwave]

bro beepbeep

was reading the thread again and was trying to figure wat the portion on the cpf....the SA & OA part.....

mind to share how u got that figure????


Amended the minor errors

Half of cpf minimum sum of $139,00 = $69,500 in OA+SA cannot touch
Bro beepbeep is correct at $139,000 if 2 names husband and wife used for 2nd property

Stamp duties 10%= (3% - $5,400 +7%absd.) = $94,600

current cpf min sum of 139000 soon to be raised to 148000

[adriel]

[QUOTE=freesoul]

current cpf min sum of 139000 soon to be raised to 148000

Thks.....with each passing day...the dream seems further and further away......

[radha08]

[quote=adriel]

Thks.....with each passing day...the dream seems further and further away......

thats the sad reality

[ysyap]

[quote=adriel]

Thks.....with each passing day...the dream seems further and further away......

I'm not sure if this is helpful but last time my OA plus SA add up also don't have minimum sum. I thought that if min sum keeps increasing every year, then its like fighting a losing battle coz when you almost caught up then it rises again. However, I'm wrong to make that assumption. I realized that it took only about 2.5 years before my SA alone is enough to already cover the min sum although it keeps rising. Anyway, I've been working for some years already and spent my all my cpf OA on my earlier HDB then... Hope this is an encouragement to you.

Its not the rising cpf min sum that is killing your dream. I would think its the rising home prices that is killing that dream. However, the semi good news is prices are stabalizing and the latest May report revealed that home prices are softening even http://www.businesstimes.com.sg/arch...n-may-20130608... Cheers!

[gilaone]

[QUOTE=ysyap]

I'm not sure if this is helpful but last time my OA plus SA add up also don't have minimum sum. I thought that if min sum keeps increasing every year, then its like fighting a losing battle coz when you almost caught up then it rises again. However, I'm wrong to make that assumption. I realized that it took only about 2.5 years before my SA alone is enough to already cover the min sum although it keeps rising. Anyway, I've been working for some years already and spent my all my cpf OA on my earlier HDB then... Hope this is an encouragement to you.

ysyap is absolutely right. I observe the same facts too. Once your SA reaches 1/2 min sum, with your monthly CPF contribution + 4% interest, there is absolutely no problem in catching up the yearly increase. So there is no worry on that.

[adriel]

[QUOTE=ysyap]

I'm not sure if this is helpful but last time my OA plus SA add up also don't have minimum sum. I thought that if min sum keeps increasing every year, then its like fighting a losing battle coz when you almost caught up then it rises again. However, I'm wrong to make that assumption. I realized that it took only about 2.5 years before my SA alone is enough to already cover the min sum although it keeps rising. Anyway, I've been working for some years already and spent my all my cpf OA on my earlier HDB then... Hope this is an encouragement to you.

Its not the rising cpf min sum that is killing your dream. I would think its the rising home prices that is killing that dream. However, the semi good news is prices are stabalizing and the latest May report revealed that home prices are softening even http://www.businesstimes.com.sg/arch...n-may-20130608... Cheers!

Hmmmm....a silver lining.....ya...how I see it is ill just try and accumulate as much as I can.....if can buy in the next few yrs .....best...else I'm go to find some other instrument of investment.....

Hope by then prices soften......or govt changes/remove the ABSD ......only time will tell....