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Thread: Advise on hdb with remaining lease of 65 years.

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    Default Advise on hdb with remaining lease of 65 years.

    Dear folks,

    Seeking your opinion on whether you would buy a hdb property with remaining lease of 65 years left? The hdb is located in yishun but one min walk to the mrt and the new northpoint city has come up too.

    I am currently renting it out but given the remaining lease.. am considering if selling it would be better at this point.

    Appreciate the advise.

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    Quote Originally Posted by Ryan18 View Post
    Dear folks,

    Seeking your opinion on whether you would buy a hdb property with remaining lease of 65 years left? The hdb is located in yishun but one min walk to the mrt and the new northpoint city has come up too.

    I am currently renting it out but given the remaining lease.. am considering if selling it would be better at this point.

    Appreciate the advise.
    Not enough info to give advise.

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    Age:
    Income Wife, Husband.
    Children Age.
    Children income if staying together.
    Cash on hand.
    CPF OA,SA,MA
    HDB loan plus accrued interest.
    Any other loan.

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    No need to give strangers complete details. Just keep the HDB. Don't sell. You are already earning good money from it, and next to MRT is always easily rentable.

    Only sell it if you intend to replace it with another unit in a far better location. Since you're renting it out I assume you are living in private property elsewhere.

    So just keep the HDB. Very simple.

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    True, we will give you advise accordingly by AssUme what info you provide.

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    Generally, you have to think what you want to do with the money.

    Let's say you will get 300k sales proceed. What are you going to do with it? Put in the bank? That would be stupid.

    On the other hand, you will be getting 20k a year by renting out. In 20 years time, you would have collected 400k in rental. Maybe your HDB drop 100k. But still a 300k gain.

    So you have to do an estimation of how much do you think that flat will depreciate, what you want to do with your money. Buying another resale HDB will set you back for 5 years due to the MOP (about 100k). And I assume you can't enter the BTO market as you are staying in your second property. Like what Arcachon said, there are too many variables which is difficult to advise in depth.

    But just convert everything into $$ terms so you can make informed decision. If you don't, you will be guessing blindly.

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    Quote Originally Posted by Ryan18 View Post
    Dear folks,

    Seeking your opinion on whether you would buy a hdb property with remaining lease of 65 years left? The hdb is located in yishun but one min walk to the mrt and the new northpoint city has come up too.

    I am currently renting it out but given the remaining lease.. am considering if selling it would be better at this point.

    Appreciate the advise.
    Assuming that you are below 55 years of age and used some your CPF to finance the HDB flat. If you sell your HDB flat now, the sale proceed less whatever you had drawn out form your CPF and the accrued interest will be returned to your CPF and the balance (if any) will be returned to you in cash by HDB. With no loan taken from your CPF (assuming that you do not draw from your CPF for your second property), you can buy another private property or resale flat to meet your new needs. Alternatively, leave the money in your CPF to earn at least 2.5% interest.

    However, if you are 55 years and above, the sale proceed that is returned to your CPF will be channeled to your Retirement Account to Full Sum if you had pledge your flat earlier. You will have a higher CPF Life payout when you reach 65 years. (Retirement Planning)

    You should start planning for your retirement now with all financial options available to you.

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    Quote Originally Posted by Ryan18 View Post
    Dear folks,

    Seeking your opinion on whether you would buy a hdb property with remaining lease of 65 years left? The hdb is located in yishun but one min walk to the mrt and the new northpoint city has come up too.

    I am currently renting it out but given the remaining lease.. am considering if selling it would be better at this point.

    Appreciate the advise.
    https://www.propertyguru.com.sg/ques...which-is-less-

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    Final decision will be up to you, but just to give you my thoughts:

    1) I never own 99-years leasehold properties, and never intend to do so. The reasons are obvious - You will need to keep quickly selling to the next greater fool before the 99-years lease runs down (in fact, even before there are 70 remaining years of lease left!).

    2) Based on analysts' research, 99-years leasehold properties' prices will fall quickly when remaining lease is 65 years or less (if I did not remember wrongly).

    3) Don't forget the massive number of BTO flats coming online in next few years and many reaching 5 years MOP!

    4) People will tell you that you can always rent out, but with gov tightening foreigners coming in, and only allowing very high-paying foreign talents (who can afford and will only rent luxury properties), who are you going to rent to in future? Don't think many Singaporeans will rent from you right (considering (3) above)?



    Quote Originally Posted by Ryan18 View Post
    Dear folks,

    Seeking your opinion on whether you would buy a hdb property with remaining lease of 65 years left? The hdb is located in yishun but one min walk to the mrt and the new northpoint city has come up too.

    I am currently renting it out but given the remaining lease.. am considering if selling it would be better at this point.

    Appreciate the advise.

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    It’s really hard to advise because much will depend on wherever you need the safety net (insurance) of HDB.

    If can fully sell your stakes in SG one day, private is the way to go.

    If can’t and for some reason suspect that at some point need to downgrade expenditure on personal housing, especially if you have kids and/or ageing parents, then it’s better to keep a HDB as reserve.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Thanks but my concern is the property value will drop drastically after the 65 year mark and its already reaxhed the 65 year mark

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    Quote Originally Posted by Amber Woods View Post
    Assuming that you are below 55 years of age and used some your CPF to finance the HDB flat. If you sell your HDB flat now, the sale proceed less whatever you had drawn out form your CPF and the accrued interest will be returned to your CPF and the balance (if any) will be returned to you in cash by HDB. With no loan taken from your CPF (assuming that you do not draw from your CPF for your second property), you can buy another private property or resale flat to meet your new needs. Alternatively, leave the money in your CPF to earn at least 2.5% interest.

    However, if you are 55 years and above, the sale proceed that is returned to your CPF will be channeled to your Retirement Account to Full Sum if you had pledge your flat earlier. You will have a higher CPF Life payout when you reach 65 years. (Retirement Planning)

    You should start planning for your retirement now with all financial options available to you.
    Hi, the hdb is fully paid up. My wife and myself are in our late thirties and staying in a private property.
    Loan on that is about 900k. We have no kids at the moment.

    The question is.. would it be better to sell the hdb since its reached the 65 year mark.. then to also sell our private condo and move somewhere central?

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    Quote Originally Posted by Ryan18 View Post
    Hi, the hdb is fully paid up. My wife and myself are in our late thirties and staying in a private property.
    Loan on that is about 900k. We have no kids at the moment.

    The question is.. would it be better to sell the hdb since its reached the 65 year mark.. then to also sell our private condo and move somewhere central?
    You see what happen when you did not provide enough info for people to advise you, this is the different between someone train on the subject matter or bystander.

    My wife and myself are in our late thirties
    (can take more risk)
    staying in a private property.
    (income can get more property)
    Loan on that is about 900k.
    (need to look at income)
    We have no kids at the moment.
    (Need to go medical checkout asap)

    For those who like to AssUme can now better AssUme with the above info.

    With the above need to know what is the selling price now, what is the rental income and are you able to get another property without ABSD.
    Last edited by Arcachon; 22-06-18 at 07:33.

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    Quote Originally Posted by Ryan18 View Post
    Hi, the hdb is fully paid up. My wife and myself are in our late thirties and staying in a private property.
    Loan on that is about 900k. We have no kids at the moment.

    The question is.. would it be better to sell the hdb since its reached the 65 year mark.. then to also sell our private condo and move somewhere central?
    The value of your aging HDB flat as the current policy stands mean that its value will continue to drop going forward. Selling the flat is an option but you will not be able to buy another resale HDB flat without giving out your private property.

    You also mentioned the possibility of also selling your private property and move to somewhere central. It can be assumed that your private property is also in OCR and LH too.

    You probably need to even examine the state of your current private property and decide if it makes sense to rent it out or cash out (if you bought it cheap).

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    Ok
    Last edited by Ryan18; 23-06-18 at 00:25.

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    [QUOTE=Arcachon;535978]You see what happen when you did not provide enough info for people to advise you, this is the different between someone train on the subject matter or bystander.

    My wife and myself are in our late thirties
    (can take more risk)
    staying in a private property.
    (income can get more property)
    Loan on that is about 900k.
    (need to look at income)
    We have no kids at the moment.
    (Need to go medical checkout asap)

    For those who like to AssUme can now better AssUme with the above info.

    With the above need to know what is the selling price now, what is the rental income and are you able to get another property without

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    [QUOTE=Ryan18;536001]
    Quote Originally Posted by Arcachon View Post
    You see what happen when you did not provide enough info for people to advise you, this is the different between someone train on the subject matter or bystander.

    My wife and myself are in our late thirties
    (can take more risk)
    staying in a private property.
    (income can get more property)
    Loan on that is about 900k.
    (need to look at income)
    We have no kids at the moment.
    (Need to go medical checkout asap)

    For those who like to AssUme can now better AssUme with the above info.

    With the above need to know what is the selling price now, what is the rental income and are you able to get another property without
    Ah i see.. i can give you my height and weight too if it helps. 😂

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    [QUOTE=Ryan18;536002]
    Quote Originally Posted by Ryan18 View Post

    Ah i see.. i can give you my height and weight too if it helps. ��
    Ryan, you have to understand property agent for asking the way they do. They have been trained this way and so do other financial consultants. They are single-dimensional and their objective is to size you up to see if you are a potential current or future business prospect. If you fall outside their perimeter, they will move on to the next target.

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    [QUOTE=Ryan18;536002]
    Quote Originally Posted by Ryan18 View Post

    Ah i see.. i can give you my height and weight too if it helps. ��
    Your Height and weight will help to find out how long you will be alive to enjoy in this World, a Medical Doctor will be able to help.

    If you are Fat and Tall not much time left.

    If you get angry with world and sound easily also got less time in this World.

    Relax, time is short, how many ten years can one have, cry father cry mother will never prolong one life.
    Last edited by Arcachon; 23-06-18 at 07:32.

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    [QUOTE=Amber Woods;536003]
    Quote Originally Posted by Ryan18 View Post

    Ryan, you have to understand property agent for asking the way they do. They have been trained this way and so do other financial consultants. They are single-dimensional and their objective is to size you up to see if you are a potential current or future business prospect. If you fall outside their perimeter, they will move on to the next target.
    I didnt come here to ask a property agent for advise. If i wanted that, i would have gone to a property agent. Secondly, i dont think its appropriate for an agent to make snide remarks in a forum on a 'potential client'.

    Just my two cents input.

    Anyway, i will be exiting myself from this forum. Seems like its a platform for agents to convince you to buy or sell.

    Thanks anyway for the inputs. Cheers.

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    I am sorry that you had a bad experience on this forum Ryan.

    I am not an agent. Some of the people on this thread who replied to you aren't agents as well. We are just very interested in property, being personally vested in property.

    It's just a crying shame that the one person who had offended you was an agent, and a very active one at that, because this forum was originally set up with the intention of sharing property opinions and views among genuine buyers, sellers, owners and other interested parties.

    Many genuine posters on this forum (non-agents) have left throughout the years. It is sad.

    To be honest, I don't know why agents bother coming here to post on this forum. I have had to constantly move their property ads to the correct sections as well as edit or delete them in some cases.

    These agents can easily go post in propertyguru or some other property listings portal, as they are just wasting their time posting their ads in here.

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    Quote Originally Posted by reporter2 View Post
    I am sorry that you had a bad experience on this forum Ryan.

    I am not an agent. Some of the people on this thread who replied to you aren't agents as well. We are just very interested in property, being personally vested in property.

    It's just a crying shame that the one person who had offended you was an agent, and a very active one at that, because this forum was originally set up with the intention of sharing property opinions and views among genuine buyers, sellers, owners and other interested parties.

    Many genuine posters on this forum (non-agents) have left throughout the years. It is sad.

    To be honest, I don't know why agents bother coming here to post on this forum. I have had to constantly move their property ads to the correct sections as well as edit or delete them in some cases.

    These agents can easily go post in propertyguru or some other property listings portal, as they are just wasting their time posting their ads in here.
    May be should ban all agent from forum just let investor in the forum. Amen

    https://www.propwise.sg/the-7-deadly...operty-buyers/

    The 7 Deadly Sins of Singapore Property Buyers

    Sin #2: Looking for free advice

    As a property blogger, a common message I receive in my mailbox reads like this: “I am a 44-year-old with two school-going children. Our monthly household income is $xx,xxx and we have a combined savings of $xxx,xxx. We have an outstanding loan of $xxx,xxx for our 4-room HDB flat and we are planning to upgrade to a condo (or buy a private property for investment). Do you think it’s the right time to buy? What do you think about condo X and condo Y? Which layout is a better buy…”

    Do you know the problem with asking for free advice?Because I don’t know you, I can only offer you general advice based on assumptions.Because it is free advice, I know you will either take it at face value or trust me half-heartedly and forget about the whole thing.

    If my advice helps you in some way, you will most likely forget to thank me. If the advice influences you to make the wrong decision, you will conveniently put the blame on me.

    Time is a precious resource for all of us so it’s best invested in activities that reap measurable returns (both for you and me). If you’re about to make a million (or multi-million) dollar decision, would asking for free advice be in your best interest?

    Ask yourself: When you need advice for a big business deal or in a tricky lawsuit, will you go for paid professional advice, or just settle for free advice?

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    [QUOTE=Ryan18;536122]
    Quote Originally Posted by Amber Woods View Post

    I didnt come here to ask a property agent for advise. If i wanted that, i would have gone to a property agent. Secondly, i dont think its appropriate for an agent to make snide remarks in a forum on a 'potential client'.

    Just my two cents input.

    Anyway, i will be exiting myself from this forum. Seems like its a platform for agents to convince you to buy or sell.

    Thanks anyway for the inputs. Cheers.
    Quote Originally Posted by reporter2 View Post
    I am sorry that you had a bad experience on this forum Ryan.

    I am not an agent. Some of the people on this thread who replied to you aren't agents as well. We are just very interested in property, being personally vested in property.

    It's just a crying shame that the one person who had offended you was an agent, and a very active one at that, because this forum was originally set up with the intention of sharing property opinions and views among genuine buyers, sellers, owners and other interested parties.

    Many genuine posters on this forum (non-agents) have left throughout the years. It is sad.

    To be honest, I don't know why agents bother coming here to post on this forum. I have had to constantly move their property ads to the correct sections as well as edit or delete them in some cases.

    These agents can easily go post in propertyguru or some other property listings portal, as they are just wasting their time posting their ads in here.
    Ryan, I noted that your unhappiness with this forum and in particular, the property agent who actively responded to you, have drawn the attention of the Admin of this forum. There are many non agents sharing their knowledge and experience previously but they have been 'driven out' by some very persistence property agents and some vested investors who said very nasty things and show no appreciation of their contributions especially when their views differ. I still can recall some contributors like Leeds and Economist who made very constructive contributions to this forum but were driven out.

    Someone even advised Leeds and Economist that this forum was meant for vested individuals to share and encourage each other and wonder why they should even come here.

    I hope that Admin can do more to encourage objective agents and more non agents to contribute to this forum and allow the free flow of information without insulting or trolling people who do not share the same views with those vested.

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    [QUOTE=Amber Woods;536133]
    Quote Originally Posted by Ryan18 View Post



    Ryan, I noted that your unhappiness with this forum and in particular, the property agent who actively responded to you, have drawn the attention of the Admin of this forum. There are many non agents sharing their knowledge and experience previously but they have been 'driven out' by some very persistence property agents and some vested investors who said very nasty things and show no appreciation of their contributions especially when their views differ. I still can recall some contributors like Leeds and Economist who made very constructive contributions to this forum but were driven out.

    Someone even advised Leeds and Economist that this forum was meant for vested individuals to share and encourage each other and wonder why they should even come here.

    I hope that Admin can do more to encourage objective agents and more non agents to contribute to this forum and allow the free flow of information without insulting or trolling people who do not share the same views with those vested.
    Agree, should only let people who like to say the ground is sweet until 2011.

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    [QUOTE=Arcachon;536135]
    Quote Originally Posted by Amber Woods View Post

    Agree, should only let people who like to say the ground is sweet until 2011.
    The difference between being objective and not clearly lies.

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    [QUOTE=Amber Woods;536136]
    Quote Originally Posted by Arcachon View Post

    The difference between being objective and not clearly lies.
    There was no lies, just sweet people talking to one another.

    One should ask what one can do for others and not what others should do for them.

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    [QUOTE=Arcachon;536137]
    Quote Originally Posted by Amber Woods View Post

    There was no lies, just sweet people talking to one another.

    One should ask what one can do for others and not what others should do for them.
    It is not about telling lies. Lie here refers to straight and clear position.

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    About objectivity: Who can be truly 100% objective about SG property??? Agents are dependent on transactions, buyers want the best value for money, sellers hope for highest price (if selling) and landlord just aim for highest returns. Onlookers are worried about future generations and their affordability, appreciation or depreciation of HDB and private prices. One can only be truly objective if he / she is also naive.

    Even Arcachon, I think he only became an agent recently (within 1 or 2 years).

    As far as being objective, I have tried my best to provide a balanced picture (my own biased picture). In 2013, I stood alongside the bears, knowing that TDSR will cause prices to dip significantly. In 2015, I committed to my own purchase but still acknowledged the stark scenario facing the property market. Only in late 2016 when the TDSR regulations was relaxed (and later SSD further loosened) did I switch gear to join the bears.

    Moreover, it is not necessary for one to be non-vested to be able to contribute to the discussion meaningfully. Everyone talks about cars and COEs as well. If one must be non-vested to participate, then only those who ride bikes can participate in those discussions. Is this rule fair?

    The thing about non-participation of ex-forummers:

    It works both ways as well. There were those who refused to read the signs or interpret them logically. It also frustrated some well-meaning forummers who pointed in the correct directions. Negative times every news and every sign you note. Positive times everything ignore. How can?

    However, the thing is that due to TDSR, those who have benefitted from having many properties are stopped from having more, while those who had been stubborn through this period still refuse to read the signs, allowing new entrants into the market to overtake them in property. It is very hard for all three parties to contribute to the discussion.

    Price high don't buy. Price dropped (but not enough) don't buy. Price stabilise don't buy. Price already going up, still don't buy. Then when to buy? For them who need to learn the lesson, I would just say, better don't buy and see what happens in a few years' time. Water taxes already up. Electricity is definitely on the way up. Oil prices steadily up. Land prices cheonging. If you want to wait, what can stop you?
    Last edited by Kelonguni; 01-07-18 at 13:32.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Well say, my England limited. I once talk to a powderful England who think the world own him everything.

    Life is short, relax join in the fun because at the end of each life, dust to dust, ass to ass. Amen.

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