Buy a property you'd want to live in
Mar 4, 2018
So if you need to rent it out, chances are others will like it too, says Money FM's Yasmin Jonkers
Lorna Tan
Invest Editor/Senior Correspondent
After 10 years of being a freelancer, radio presenter Yasmin Jonkers is entering a new era in her life - being a full-time employee.
Ms Jonkers, 44, host of The Breakfast Huddle on Money FM 89.3, said: "I take this as a new adventure and we want to get more people in Singapore interested in investing."
Her maiden name is Abdol Hamid but she started using Jonkers, which is her husband's surname, in January to mark the new phase in her life.
Her first radio stint started after she completed her bachelor's degree in international relations at the University of Oregon in 1995 and a postgraduate diploma from the London School of Economics in 1997.
But Ms Jonkers always ended up on morning shows and was "burnt out" after 10 years.
"Being a bit of a creative person, you want the outlet to go back to school to pursue your passions and spend time with family," she says.
Over the past 10 years, she did freelance work as a TV presenter and broadcast journalist with ESPN Star Sports (now known as Fox Sports Asia), voiceovers and freelance emceeing. She also pursued a Master of Arts degree with Maastricht University, the Netherlands, in 2008 and joined the volunteer docent programme at the National Museum of Singapore and the Malay Heritage Centre.
She sees her father as her role model when it comes to planning finances and investments.
A retired captain who flew with Singapore Airlines, he always involved her in discussions on the family investments.
"My father is constantly invested and he would move money according to the markets. We discuss what to buy, for example, what Reit (real estate investment trust) to buy. Hopefully one day I'm able to plan my finances like that," adds Ms Jonkers.
Ms Jonkers is married to offshore operations manager Thomas Jonkers, 49, a Singapore permanent resident and a Dutch national. They have no children.
Q Describe your residential property.
A It's a ground-floor, freehold, 1,206 sq ft apartment in lively Joo Chiat, with no lift or facilities, and a parking space for each unit in the compound. Quite old school and inconspicuous in design, yet close to all the eateries and shops.
My husband and I bought it in 2010, and it cost $863,000. The value has gone up since then, with the per sq ft price of properties in this area at just above $1,000. It used to have three bedrooms but one was converted to have a larger dining space. So now we have a master bedroom, study-cum-guestroom, dining room, kitchen, living room, storeroom, patio and two bathrooms.
Q Why did you choose this property?
A It was in a beautiful "move-in" condition when we found it, and that took away the headache of renovations. We had just returned from an overseas stint in the Netherlands and wanted to settle into our own home as soon as possible. Plus it's close to my family, and the shops and eateries I grew up around.
East Coast beach is about 2km away and there are good golf courses in the area, such as Marina Bay Golf Course and Tanah Merah Country Club.
Q What's in your property portfolio?
A Current property is this one alone. Hopefully that'll change soon. In the past we either lived with parents or rented.
We're not actively looking yet and we don't have a deadline. Once in a while, we will check the prices of properties in the Netherlands. Amsterdam is where my hubby is from so it's our second home with family and friends there.
With the Additional Buyer's Stamp Duty, it is a deterrent to getting more than one property here.
Q Describe your property investing strategy.
A Buy to live. If we have to rent it out, hopefully someone else will like it enough to pay to stay in our absence.
If we were to invest overseas, it would be in a mature market with proper laws protecting both tenants and owners.
It's so tempting to invest in our growing region, but I have my doubts about property and tenant management in Asean countries for now.
We don't believe in big homes. They've got to be roomy enough for two people and in urban locations. And there has to be a wide spectrum of food choices within walking distance to suit our huge appetite!
No mega condos where the lift stops multiple times per journey, and your guests can't figure out where to park.
Q What do you think of the property market now?
A I understand it to be on the side of tenants and sellers.
Q What's your view of the property market?
A It's generally foolproof to invest in property in Singapore. Every area has good value, with some traditionally more glossy than others. And since we don't have obvious class divide in Singapore, all areas are given respect in upkeep and appearance.
So when deciding which property to buy, we really don't have too much to consider here besides price, size, and proximity to work and extended family. I've lived in places where I saw bigger considerations like crime rates, racial enclaves, total lack of public transport or street lighting. And these places were within city limits in First World countries. Count your lucky stars, Singaporeans.
Q What's your financing strategy?
A We have a mortgage with OCBC that was revised three years ago. The lock-in period is over.
I don't have mortgage insurance as the repayment is comfortable for one of us to take on and we don't have kids. Because we're both working, if one of us goes, the other can take on the mortgage.
Q Do you have insurance cover for property and contents?
A We have home contents insurance. My husband and I invest in higher-quality appliances such as Miele washing machine, vacuum cleaner, and De Dietrich dishwasher and three ovens (steam, convection and microwave).
Q What's your overall investing strategy?
A I've been a freelancer for the last 10 years. I was a pioneer of the gig economy at that time. It's difficult to make and plan for investments because you need a steady pay cheque.
I've invested in myself, for example, pursuing my master's degree and other courses. You can afford to be like that when you don't have children, which was a conscious choice for us. I choose to grow myself. This year, once things calm down and get into a certain workflow, I really need to start looking at finances.
Having insurance is important to me and I ensure that whatever I earn, my priority is to pay my insurance premiums. I have all the basic insurance... personal accident, hospitalisation and surgical insurance, critical illness, and a retirement savings plan, which provides a lump sum when I'm 60 and monthly payouts for a certain period of time.
I don't have term insurance as everyone else in my family is financially stable and I have no dependants.
Q My dream home is...
A I don't have a dream home in Singapore. Here, you live where you can afford to live and location is key. Singapore is my home and is my hubby's as well. This is where we will grow old... I just hope to have homes in both cities.
I never fantasise about a dream home. I just need it to be convenient and comfortable.
Reply With Quote
Originally Posted by PropVestor
