View Full Version : Hey, How you guys define "afford-able" ??
ikan bilis
14-11-11, 17:51
What is affordable ??..
- 40% of monthly income gone into condo/hdb mortgage repayment ??
- House price less than 8yrs of total income ??
- 450sq 2bdr MM at $1200psf very affordable ??
- Monthly rental psf income to psf value at ratio of 1:200 ??
- Or,.. “affordable” means the maximum amount the govt could squeeze from you ??
:confused: :D
buttercarp
14-11-11, 17:57
5 times the annual income is affordable to me.
The price psf is dependent on the present market rate.
Personally I don't mind an ulu location as long as it is within walking distance to the main road to catch a bus.
In that way, my kids would be able to move around easily without me chauffering them around.
I would definitely not pay a premium to stay in town.
What is affordable ??..
- 40% of monthly income gone into condo/hdb mortgage repayment ??
- House price less than 8yrs of total income ??
- 450sq 2bdr MM at $1200psf very affordable ??
- Monthly rental psf income to psf value at ratio of 1:200 ??
- Or,.. “affordable” means the maximum amount the govt could squeeze from you ??
:confused: :D
for property affordability to me is devt-servicing ratio of 25% or less. i am very conservative i know.
ikan bilis
14-11-11, 19:43
HeeHee... :D
affordable?... for me, tiny fish only, ca$h always tight tight... so if cash flow is near balanced (slight negative, or better slightly positive).... can cheong in liow... (whether wanna jump in at that time frame is separate issue/decision)
and that means...
- loan of about 2/3 or 65-70%...
- stretch to maximum no of years allowed...
- I do not look much at capital gain or any strata title depreciation
- if rental covers mortgage+tax+MCST charges...
that's is already affordable to me... the most i will top up more if suay suay interest gone up....
(and note: Negative cash flow does not mean negative profit)
me only look at cash flow...
~~~~~~~~~~~~~~~~
relax lah... listen to some songs....
http://www.youtube.com/watch?v=w3oe1-V5rUs
1. <5 year family annual income.
2. Debt service ratio can be tweaked if the loan period is longer but in general, <20% monthly family income for <25 years loan.
40% of income is fine but must be able to repay in full within 15 years
What is affordable ??..
- 40% of monthly income gone into condo/hdb mortgage repayment ??
- House price less than 8yrs of total income ??
- 450sq 2bdr MM at $1200psf very affordable ??
- Monthly rental psf income to psf value at ratio of 1:200 ??
- Or,.. “affordable” means the maximum amount the govt could squeeze from you ??
:confused: :DI assume this is for home stay and not investment property? Well, 40% of monthly income I assume is total household income is pretty high for well off families. Assuming a 'not too bad' family of household income of $12k/mth = $4.8k/mth which can easily get a $1.6mil ppty over a 30yr tenure at <2% interest rate. Not the idea HDB had when they raised income ceiling for EC. Which EC cost $1.6mil???
Well, I personally think house price of about 10yrs of total income is just about right for me so loan tenure stretch about 20 to 25 years... :spliff:
devilplate
14-11-11, 21:14
Hdb bto is affordable for the given income ceiling
buttercarp
14-11-11, 21:19
40% of income is fine but must be able to repay in full within 15 years
I totally agree with you about the 15 year loan tenure.... better still if can repay within 10 years.
buttercarp
14-11-11, 21:24
Hdb bto is affordable for the given income ceiling
Yup, BTO is affordable , but EC is may not be so affordable for the given income ceiling.
I totally agree with you about the 15 year loan tenure.... better still if can repay within 10 years.
Lost opportunity cost if loan tenure so short ... especially when interest rate is so low .. you should max out loan tenure ... refinance to shorten it if interest rate goes up
This 60% LTV ratio really killer for leveraging ... with 4y SSD and furniture voucher, the leveraging effect is damn low :banghead:
Nobody should be worried about affordability with such stupid measures, defeat the purpose of leverage
buttercarp
14-11-11, 22:03
Lost opportunity cost if loan tenure so short ... especially when interest rate is so low .. you should max out loan tenure ... refinance to shorten it if interest rate goes up
This 60% LTV ratio really killer for leveraging ... with 4y SSD and furniture voucher, the leveraging effect is damn low :banghead:
Nobody should be worried about affordability with such stupid measures, defeat the purpose of leverage
That's what the loan officer told me too.
But I'd rather clear the loan ASAP and get the load off my mind.
ikan bilis
14-11-11, 22:11
That's what the loan officer told me too.
But I'd rather clear the loan ASAP and get the load off my mind.
Go for max loan tenure…. Any extra cash savings can just be used to clear partial loan capital after the lock-in period… most important issue is “discipline” (don’t squander your extra cash savings)… ;)
I totally agree with you about the 15 year loan tenure.... better still if can repay within 10 years.
give and take lah. 10 years was the standard about 25 years ago. i think the standard and facilities have improved so 15 years is probably a fair figure.
Affordable means, after u make the downpayment, u still have $200k cash on standby. This $$$ cannot be invested, only in cash form.
Monthly cash outlay after CPF ard 1k cash, not amounting to more than % 30 of income will be great. If after expenses still can save on family income 15-20% it will be very comfortable
buttercarp
14-11-11, 22:38
Go for max loan tenure…. Any extra cash savings can just be used to clear partial loan capital after the lock-in period… most important issue is “discipline” (don’t squander your extra cash savings)… ;)
Depends on how you look at it.
If you are actively investing in other things, then it may be good to max out the loan tenure when the interest rates are low.
For me anything to do with money is so stressful.
The last time when i contemplated to buy or not to buy, I lost 3 kg in one month. Then met up with loan officer to consider loan also so stressful that I lost somemore weight.
However everything has been settled, so the weight accumulated back to square one:( .
With my "virtual" lifestyle, where I spend most of my free time in front of the computer with no vices, squandering of cash is not an issue. Spending it may be an issue:D .....just kidding, suffering from Vitamin M deficiency now and hoping to overcome it within the next 10 years.
Depends on how you look at it.
If you are actively investing in other things, then it may be good to max out the loan tenure when the interest rates are low.
For me anything to do with money is so stressful.
The last time when i contemplated to buy or not to buy, I lost 3 kg in one month. Then met up with loan officer to consider loan also so stressful that I lost somemore weight.
However everything has been settled, so the weight accumulated back to square one:( .
With my "virtual" lifestyle, where I spend most of my free time in front of the computer with no vices, squandering of cash is not an issue. Spending it may be an issue:D .....just kidding, suffering from Vitamin M deficiency now and hoping to overcome it within the next 10 years.
if you're stressing yourself so much over money, it really isn't worth it.
buttercarp
14-11-11, 22:43
if you're stressing yourself so much over money, it really isn't worth it.
That's why I don't invest.... it's way too stressful.
That's why I want to clear my loan ASAP.
Affordable means, after u make the downpayment, u still have $200k cash on standby. This $$$ cannot be invested, only in cash form.
Monthly cash outlay after CPF ard 1k cash, not amounting to more than % 30 of income will be great. If after expenses still can save on family income 15-20% it will be very comfortable
unless one is approaching retirement, then having $200K cash as standby makes sense (but standby for what ah? to make downpayment during fire sale ah? hehe) To me I will only hold 50% of my annual income as movable cash, the rest I will invest and grow the money.
investing without leverage can also be fairly stress free.
That's why I don't invest.... it's way too stressful.
That's why I want to clear my loan ASAP.
buttercarp, given the low interest rates, i would want to drag my loan as long as possible!!! a healthy debt-servicing ratio actually is better....dun stress urself too much....make sure u insure your health (eat well, sleep well, and buy insurance) so that you can continue to pay your loans....
unless one is approaching retirement, then having $200K cash as standby makes sense (but standby for what ah? to make downpayment during fire sale ah? hehe) To me I will only hold 50% of my annual income as movable cash, the rest I will invest and grow the money.
Oh the 200k is in standby is unexpected lost of income to tahan the housing instalment . Well in a situation both loses income , can tahan ard 30 instalments only.
If market crashes can take advantage also. Anything above that 200k can invest. invest= any $$$ that u can afford to lose 100%.
That is my definition of affordable on TS.
I think have to take care of some basic stuff first. think an average family needs about $3-4k a month for expenses. With kids, you need more - maid, enrichment classes. For me, it is 40% expense, 40% savings/ investment and then 20% mortgage.
devilplate
14-11-11, 23:36
For primary residence, take lesser loan
For investment ppty, take more loan
Always max out loan tenure....y? U can always shorten tenure whenever u refinance but u can nvr extend it.
No matter how high interest rate rise, mortgage loan always the cheapest loan u can get in this world.
those who tink they r very smart by being overly conservative r the greatest fools....
devilplate
14-11-11, 23:38
I think have to take care of some basic stuff first. think an average family needs about $3-4k a month for expenses. With kids, you need more - maid, enrichment classes. For me, it is 40% expense, 40% savings/ investment and then 20% mortgage.
actually debt sevicing ratio doesnt matter at all when ur loan is less den 60% for investment ppty
For primary residence, yes.....vy impt....best if u can use cpf to pay entirely.....den save up to buy another hse asap....
So for me, i stay in cheaper hse and invest more.....rather den stay in posh big hse and no money left to invest..
devilplate
14-11-11, 23:47
Depends on how you look at it.
If you are actively investing in other things, then it may be good to max out the loan tenure when the interest rates are low.
For me anything to do with money is so stressful.
The last time when i contemplated to buy or not to buy, I lost 3 kg in one month. Then met up with loan officer to consider loan also so stressful that I lost somemore weight.
However everything has been settled, so the weight accumulated back to square one:( .
With my "virtual" lifestyle, where I spend most of my free time in front of the computer with no vices, squandering of cash is not an issue. Spending it may be an issue:D .....just kidding, suffering from Vitamin M deficiency now and hoping to overcome it within the next 10 years.
i seriously believe u had overstretched urself...spend too much to stay in it and no more vit m to invest......god bless u
devilplate
14-11-11, 23:52
5 times the annual income is affordable to me.
The price psf is dependent on the present market rate.
Personally I don't mind an ulu location as long as it is within walking distance to the main road to catch a bus.
In that way, my kids would be able to move around easily without me chauffering them around.
I would definitely not pay a premium to stay in town.
vy funny to use annual income as yardstick.....annual income is variable la....retrenched liao how?
To me i jus based on mthly installment....after putting down dp, i still hw much left? The spare cash i have can last me for at least 1yr of installment anot if i got retrenched?
Tats y big ticket items like landed, ppl normally take less den 60% loan when buying for own stay.....its all about the quantum of mthly installment tat matters
devilplate
15-11-11, 00:01
investing without leverage can also be fairly stress free.
tats when u r above 60yo la....weak heart....no more holding power liao
If dun leverage while yng, u old age will b vy stressful
devilplate
15-11-11, 00:07
Affordable means, after u make the downpayment, u still have $200k cash on standby. This $$$ cannot be invested, only in cash form.
Monthly cash outlay after CPF ard 1k cash, not amounting to more than % 30 of income will be great. If after expenses still can save on family income 15-20% it will be very comfortable
how u come up wif the figure of 200k? Hehe
My rule of thumb must haf 12 mths of mthly installment + expenses as spare cash for primary residence.....
What is affordable ??..
- 40% of monthly income gone into condo/hdb mortgage repayment ??
- House price less than 8yrs of total income ??
- 450sq 2bdr MM at $1200psf very affordable ??
- Monthly rental psf income to psf value at ratio of 1:200 ??
- Or,.. “affordable” means the maximum amount the govt could squeeze from you ??
:confused: :D
depends for own stay or for investment. diff calculation and expectations.
buttercarp
15-11-11, 07:23
vy funny to use annual income as yardstick.....annual income is variable la....retrenched liao how?
To me i jus based on mthly installment....after putting down dp, i still hw much left? The spare cash i have can last me for at least 1yr of installment anot if i got retrenched?
Tats y big ticket items like landed, ppl normally take less den 60% loan when buying for own stay.....its all about the quantum of mthly installment tat matters
Yup I have done all the above.:) Thanks for the advice.
i seriously believe u had overstretched urself...spend too much to stay in it and no more vit m to invest......god bless u
No lah.....if really cannot breathe, then will have to sell my present place to pay for new place when it TOPs then will have lots of fresh air to breathe again.:)
how u come up wif the figure of 200k? Hehe
My rule of thumb must haf 12 mths of mthly installment + expenses as spare cash for primary residence.....
Instalment plus living expenses lor. Safety fund lah. Now I want another 100-200k set aside just in case 30-50 percent drop come can pick up another unit. I think 24 mths instalment probably is safer + some provision for interest rates hikes.
If we don't go shopping or go to town often, living expenses can be surprisingly low.
For primary residence, take lesser loan
For investment ppty, take more loan
Always max out loan tenure....y? U can always shorten tenure whenever u refinance but u can nvr extend it.
No matter how high interest rate rise, mortgage loan always the cheapest loan u can get in this world.
those who tink they r very smart by being overly conservative r the greatest fools....
Think the devil also kena the BASIC virus, calling ppl fools here too...haha
Jonathan0503
15-11-11, 08:19
For primary residence, take lesser loan
For investment ppty, take more loan
Always max out loan tenure....y? U can always shorten tenure whenever u refinance but u can nvr extend it.
No matter how high interest rate rise, mortgage loan always the cheapest loan u can get in this world.
those who tink they r very smart by being overly conservative r the greatest fools....
Can confirm if refinance cannot extend tenure? Even if you change bank?
Recently took up an equity loan and was allowed to have a longer tenure than the original loan leh...
Think the devil also kena the BASIC virus, calling ppl fools here too...haha
:D The virus quite potent wor. That thread is growing super fast :D
phantom_opera
15-11-11, 09:10
Purchasing power of SGD has gone down may be 50% since QE1 ... such is affordability :beats-me-man:
DP is kind enough to call people fools .... taking very short tenure loan is actually more risky :scared-3:
buttercarp
15-11-11, 09:22
If we don't go shopping or go to town often, living expenses can be surprisingly low.
Yup, totally agree with you.
Most of the time when we go shopping, we end up with lots unnecessary things.
Moreover, parking cost alone can burn a whole in the pocket.
devilplate
15-11-11, 09:45
Think the devil also kena the BASIC virus, calling ppl fools here too...haha
whahaha:p
some of u r using the word devil as well....LOL
devilplate
15-11-11, 09:48
Can confirm if refinance cannot extend tenure? Even if you change bank?
Recently took up an equity loan and was allowed to have a longer tenure than the original loan leh...
refinance within same bank definitely no way
btw, equity loan and refinance not the same hor
devilplate
15-11-11, 09:52
Yup I have done all the above.:) Thanks for the advice.
No lah.....if really cannot breathe, then will have to sell my present place to pay for new place when it TOPs then will have lots of fresh air to breathe again.:)
ok....i remember last time i haf a few sleepless nites when i just bot the first ppty......but its due to excitement....LOL
dun understand y u so stress out until lost few kg.....:confused:
i only manage to lost 2-3kg during a 4day outfield training last time....LOL
devilplate
15-11-11, 10:16
Yup, totally agree with you.
Most of the time when we go shopping, we end up with lots unnecessary things.
Moreover, parking cost alone can burn a whole in the pocket.
yday i tot go window shop shop....but bot a watch in the end:o
buttercarp
15-11-11, 10:33
ok....i remember last time i haf a few sleepless nites when i just bot the first ppty......but its due to excitement....LOL
dun understand y u so stress out until lost few kg.....:confused:
i only manage to lost 2-3kg during a 4day outfield training last time....LOL
Hahaha.....
Both stress and excitement.
After I decided on the unit, before putting a deposit, I recce-ed the whole neighbourhood. Drove round and round the estate to observe the atmosphere in the place. The width of the road, where the electricity generator was. Then I stood at the site where my unit is going to be built for a few hours. Took lots of pictures of surrounding place.
Then that time beginning of financial turmoil... July 2011, after I put deposit, I sort of half regretted that I bought. Wonering whether I made the correct decision........
Anyway I very easily stressed when it comes to money.
Since I have never won any money, I cannot afford to lose it......
I can only relax when I am in the virtual world:) .
devilplate
15-11-11, 10:36
Hahaha.....
Both stress and excitement.
After I decided on the unit, before putting a deposit, I recce-ed the whole neighbourhood. Drove round and round the estate to observe the atmosphere in the place. The width of the road, where the electricity generator was. Then I stood at the site where my unit is going to be built for a few hours. Took lots of pictures of surrounding place.
Then that time beginning of financial turmoil... July 2011, after I put deposit, I sort of half regretted that I bought. Wonering whether I made the correct decision........
Anyway I very easily stressed when it comes to money.
Since I have never won any money, I cannot afford to lose it......
I can only relax when I am in the virtual world:) .
i noe easier said den done la but still wana say lor.....
we only live once.....life is too short to have regrets;)
Hahaha.....
Both stress and excitement.
After I decided on the unit, before putting a deposit, I recce-ed the whole neighbourhood. Drove round and round the estate to observe the atmosphere in the place. The width of the road, where the electricity generator was. Then I stood at the site where my unit is going to be built for a few hours. Took lots of pictures of surrounding place.
Then that time beginning of financial turmoil... July 2011, after I put deposit, I sort of half regretted that I bought. Wonering whether I made the correct decision........
Anyway I very easily stressed when it comes to money.
Since I have never won any money, I cannot afford to lose it......
I can only relax when I am in the virtual world:) .
First u shocked me with your power of observation, now you impress me with your perseverance.... Stand? And Few hours???? Wow dont tell me you also wanna pick out which breed of birds build nest around the area kekeke.... :tongue3:
Hahaha.....
Both stress and excitement.
After I decided on the unit, before putting a deposit, I recce-ed the whole neighbourhood. Drove round and round the estate to observe the atmosphere in the place. The width of the road, where the electricity generator was. Then I stood at the site where my unit is going to be built for a few hours. Took lots of pictures of surrounding place.
Then that time beginning of financial turmoil... July 2011, after I put deposit, I sort of half regretted that I bought. Wonering whether I made the correct decision........
Anyway I very easily stressed when it comes to money.
Since I have never won any money, I cannot afford to lose it......
I can only relax when I am in the virtual world:) .
i understand what you mean. but that said, i always listen to my gut feel/inner voice/child spirit whatever you call it. when you invest/purchase a property, you will definitely have the feel good / not so good factor. hence decisive people (i guess it comes with experience and a very keen eye on the markets) can make a decision within 2 hrs.
everyone has a different appetite for risk, and everybody will always be wiser ON HINDSIGHT. go for low risk investments e.g. go for cheaper properties in areas that still have a lot of room for growth e.g. Punggol, Jurong Lake etc because mass market (middle income) definitely a bigger market i.e. there will always be potential buyers with tight budget.
buttercarp
15-11-11, 12:01
i understand what you mean. but that said, i always listen to my gut feel/inner voice/child spirit whatever you call it. when you invest/purchase a property, you will definitely have the feel good / not so good factor. hence decisive people (i guess it comes with experience and a very keen eye on the markets) can make a decision within 2 hrs.
Yup.... gut feeling, that's it.
My husband took less than half an hour to decide to buy after he saw the place, however I had to be doubly sure.
First u shocked me with your power of observation, now you impress me with your perseverance.... Stand? And Few hours???? Wow dont tell me you also wanna pick out which breed of birds build nest around the area kekeke.... :tongue3:
Yup, spent 2 hours there. Walked to and fro around the area, chatted with a maid there. Sat in the car, then sat on the car to get better photo shots.
i noe easier said den done la but still wana say lor.....
we only live once.....life is too short to have regrets;)
After I read basic's thread, I no longer regret buying.:)
I think I have made the right decision!
After I read basic's thread, I no longer regret buying.:)
I think I have made the right decision!What about Basic's thread that made you not to regret?
buttercarp
15-11-11, 12:57
What about Basic's thread that made you not to regret?
Most are skeptical of his idea that the market is going to crash.
Moreover after buying don't look back as one bro has advised.
And that more foreigners are coming here to invest in property.
Something like below?
Andy Xie basically said: Dump your China property now!
Andy Xie also will agree: Buy Singapore property now, another 20 good years with rising population target of 6.5m by 2020 (from current 5m)! :D
Furthermore, if people still skeptical about Andy Xie, they die die must heed LKY who said: Never sell your HDB property!!!
Wah! Andy Xie agreed with me that property prices in Singapore will rise and not fall! Why so? This is what he said:
"任何一个人口开始下降的国家房 价只会掉，"
Therefore, any country whose population keep increasing and GDP keep increasing, property price can only rise and not fall!
Andy Xie: Dump your China property now!
http://news.taizhou.com.cn/zztz/2011...ent_474746.htm
他，曾在1997年成功预测香港房地产将暴跌50%和内地通缩，因为一直唱空房地产市场被人戏称为经济界的 “空军一号”，他就是经济学家谢国忠。
He has successfully predicted the 1997 Hong Kong real estate will fall 50% and the Mainland deflation, because the real estate market has been singing empty economic circles is dubbed the "Air Force One", he is an economist Andy Xie.
谢原来预测，中国的房价下跌50%是在2012年，今年年初他改变原先预测，认为今年下半年将开始下跌，但 这个下跌不是一步到位的，先期先下跌 20%～30%，之后可能会有反复，到2014年会出现房价下跌50%。就好比A股从6000点下跌，跌到 5000点的时候就会有人进场，托一托。捞底的人总会有的。房价下跌20%～30%之后，急需买房的和一些 投资客会进场，交易量就会起来。
Xie had predicted that China's housing prices fell 50% in 2012, he changed the original forecast earlier this year that will begin to decline this year, but this decline is not a one-step, the initial first down by 20% to 30%, followed by possible will be repeated, there will be 2014 prices fell 50%. Like A shares fell from 6,000 points, down to 5000, when it was admitted, asked a prop. Fishing at the end were always there. Prices fell 20% to 30%, the need to buy a house and some investors will approach, trading volume will be up.
“再过10年，中国人口开始下降，10年后房价不会涨起来了，只会掉不会涨。任何一个人口开始下降的国家房 价只会掉，当时日本每年房价下调7%。人口老化是一个巨大的力量，以后对中国影响非常大，人口老龄化后一个 社会负担越来越重，人口老龄化以后不要谈楼市会不会涨，是不会涨的。”谢国忠说。
"In 10 years, China's population began to decline, prices will not rise after 10 years together, and will not rise out Any country with a population decline in house prices will start out, Japan was down 7% annual price population aging is a tremendous force, after a very large impact on China, after an aging population increasingly heavy burden on a society, do not talk about the future aging population will rise property is not up to. "Xie said.
谢国忠一直建议投资者尽快卖掉手中空房，那么卖掉房之后买什么呢？
“先留着，现在人民币不会贬值，不管内部通胀有多少，不敢贬值，贬了的话所有的钱都会流出中国。不过现在卖 的话肯定卖不掉，很多朋友卖房子都没人看，没办法只能熬。如果这时有人来看你的空房子，一定要卖了，这是个 好机会。如果下一次房价掉的话，要持续掉三四年。”
Xie has been recommended investors sell their availability as soon as possible, then sell the house after buying it?
"First keep, and now will not devalue the yuan, regardless of how much domestic inflation, not depreciation, devaluation of the words all of the money will go out of China, but it certainly can not sell now sell many of my friends are selling the house no one, not approach can only boil if when people come to your empty house, must sell, this is a good opportunity if house prices fall, then the next to last out three or four years. "
谢国忠说，在泡沫崩溃的时候做什么也不管用。其实，内地的房地产在2008年就应该让它崩盘，但后来政府大 量发行货币，又把它撑起来了。这次泡沫崩溃，救市的资金会比2008年的更多。
那么像2008年大规模救市的历史会重演吗？
“2008年、2009年十万亿钱砸进滋生泡沫现在可以吗？政府是不敢做的，政府是受限制的，在货币政策上 是受限制的，它是不可能像2008年这样做的。”
Xie said, when the collapse of the bubble do not work. In fact, the mainland's real estate in 2008 should make it crash, but later the government issued a lot of money and took it to hold up to the. The collapse of the bubble, bailout funds for more than 2008.
So like the 2008 large-scale bailout history will repeat itself?
"In 2008, 2009, ten trillion throwing money at breeding foam now can it? Government is not done, the government is restricted in the monetary policy is limited, it is impossible to do so as in 2008 . "
What about Basic's thread that made you not to regret?
yday i tot go window shop shop....but bot a watch in the end:o
What watch did you buy?
phantom_opera
15-11-11, 14:29
What watch did you buy?
Watch is good gauge of inflationary pressure .. Paneroi :D ?
Watch is good gauge of inflationary pressure .. Paneroi :D ?
Got to be Rolex. It has the highest level of liquidity . Just look at the window of pawn shops.
Window shopping lands you a rolex? Wow! Ok... I'd probably just get a timex! LOL! No need a rolex! LOL! :rolleyes:
devilplate
15-11-11, 15:27
Window shopping lands you a rolex? Wow! Ok... I'd probably just get a timex! LOL! No need a rolex! LOL! :rolleyes:
wah ....bros here all see me very up
Buy rolex can hold value over time mah.....ur timex worth $1 once u bot it? Hehe
wah ....bros here all see me very up
Buy rolex can hold value over time mah.....ur timex worth $1 once u bot it? HeheLOL! I not so up market lah... everything also must have investment value then I belong to a different class of humans already... LOL! :spliff: I'm happy with my timex! :cheers6:
buttercarp
15-11-11, 16:22
wah ....bros here all see me very up
Buy rolex can hold value over time mah.....ur timex worth $1 once u bot it? Hehe
Agree that Rolex is the ultimate watch.
But I rather not buy cos it will sitting in the safe, as I will be uncomfortable wearing it. I am secure with my tag heuer. If go malaysia, I wear my cheap Adidas watch.
Jonathan0503
15-11-11, 17:46
refinance within same bank definitely no way
btw, equity loan and refinance not the same hor
So has to switch bank to extend tenure lah?
Agree that Rolex is the ultimate watch.
But I rather not buy cos it will sitting in the safe, as I will be uncomfortable wearing it. I am secure with my tag heuer. If go malaysia, I wear my cheap Adidas watch.
actually rolex watch can pawn and get immediate cash lor. unlike those complicated financial products want to liquidate also need 3-5 working days + admin surcharges etc...by the time money gets to the person he/she would probably have died....LOL
Affordable to me means being able to pay in full by age 45 and be able to maintain the same quality of life while repaying the loan.
Though there's so-called labour shortage, we can no longer count on being employed after 45. Even if we are, we may get a pay cut.
Need some advice on behalf of a family member:
Assuming a combine cpf of $200k, does cpf allows a wipe out refinance and is it wise to reduce downpayment by $200k at today's interest rate? Reason that couple do not use cpf is becos CPF gives 2.5% interest while bank only charge about 1%+-, If do not reduce loan by $200k, the couple will be using about 30% -40% of income in cash to service loan which is quite tight. Estimated couple current status: Combine income assuming $10knett, currently owns a honda civic with a loan(not sure how much) and have a young toddler plus ageing parents from both sides. Property bought is 1 mil 2 bedder freehold property, taken $800k loan. pls advice, thanks!
I think for own-stay property, the price is affordable if it's <= 10yrs of your total income(passive + active).
For investment property, my definition of affordable is to set aside 2yrs installment payment with a 70% LTV?
Since the couple has $200k combined (I presume it is in Ordinary Account), why not just write to the bank to increase the CPF component of the monthly repayments instead? In this way they can still benefit from the arbitrage from 2.5% CPF interest and bank loan interest of 1%, as well as reduce the cash component of the monthly repayments.
Need some advice on behalf of a family member:
Assuming a combine cpf of $200k, does cpf allows a wipe out refinance and is it wise to reduce downpayment by $200k at today's interest rate? Reason that couple do not use cpf is becos CPF gives 2.5% interest while bank only charge about 1%+-, If do not reduce loan by $200k, the couple will be using about 30% -40% of income in cash to service loan which is quite tight. Estimated couple current status: Combine income assuming $10knett, currently owns a honda civic with a loan(not sure how much) and have a young toddler plus ageing parents from both sides. Property bought is 1 mil 2 bedder freehold property, taken $800k loan. pls advice, thanks!
Need some advice on behalf of a family member:
Assuming a combine cpf of $200k, does cpf allows a wipe out refinance and is it wise to reduce downpayment by $200k at today's interest rate? Reason that couple do not use cpf is becos CPF gives 2.5% interest while bank only charge about 1%+-, If do not reduce loan by $200k, the couple will be using about 30% -40% of income in cash to service loan which is quite tight. Estimated couple current status: Combine income assuming $10knett, currently owns a honda civic with a loan(not sure how much) and have a young toddler plus ageing parents from both sides. Property bought is 1 mil 2 bedder freehold property, taken $800k loan. pls advice, thanks!
How old is the couple, and how many years of loan they are getting? Next year will be tricky and I am unsure if they loaned too much @ 800k?
Couple in mid thirties, loan to max, so I presume 30 years.
Couple in mid thirties, loan to max, so I presume 30 years.
I understand max is 35 years.
There are many fine details that need to be consider:
1. How old is their toddler, any additional courses/classes for their kid?
2. Monthly insurance premium for toddler etc
3. Car insurances, petrol and loan(which you are unsure of)
4. Income stream reliability
5. Do they intend to have 2nd child?
and many others.
I personally feel 800k loan amount is abit high and risky.
Is this freehold unit a newly TOP or resales unit? Are they buying for own stay or investment?
It's a 2 bedder fh apartment. Currently the in laws helping to look after kid abt 2 yr old. They did give extra allowance I think, maybe not alot for in law to take care of kids. The rest m not sure, but can assume worst case scenario.. Better to be safe than sorry. since already bot house, now is the decision whether to reduce lian to $600k or just keep in cpf earning 2.5 interest. samsara's idea of getting the bank to work out a higher sum in instalments should be a good idea?
It's a 2 bedder fh apartment. Currently the in laws helping to look after kid abt 2 yr old. They did give extra allowance I think, maybe not alot for in law to take care of kids. The rest m not sure, but can assume worst case scenario.. Better to be safe than sorry. since already bot house, now is the decision whether to reduce lian to $600k or just keep in cpf earning 2.5 interest. samsara's idea of getting the bank to work out a higher sum in instalments should be a good idea?
Samsara's idea is to re-finance; I am unsure your relative's loan lock-in period? Usually there is a legal clawback clause that they would need to pay if they going to change any arrangement, that is also including re-financing. If the total sum bear by your relatives, assuming 800k @ 2.5k++ per month. He/she can request to finance bulk of it through CPF OA, assuming they both earn 5K and above; OA monthly contribution would be 1.1k, so total would be 2.2-2.3kSGD. The CPF adjustment is FOC and would bear no penalty charges then.
This would help them to soften the impact then. I am just surprise that your relatives have such a good saving - 200K cash on hand to pay off 20% of the house with stamp duty etc.
Btw, is this FH unit a new one or resales? Location? OCR or CCR?
devilplate
02-01-12, 12:30
Need some advice on behalf of a family member:
Assuming a combine cpf of $200k, does cpf allows a wipe out refinance and is it wise to reduce downpayment by $200k at today's interest rate? Reason that couple do not use cpf is becos CPF gives 2.5% interest while bank only charge about 1%+-, If do not reduce loan by $200k, the couple will be using about 30% -40% of income in cash to service loan which is quite tight. Estimated couple current status: Combine income assuming $10knett, currently owns a honda civic with a loan(not sure how much) and have a young toddler plus ageing parents from both sides. Property bought is 1 mil 2 bedder freehold property, taken $800k loan. pls advice, thanks!
jus apply to use cpf to pay for mthly installment will do liao
no nid rocket science ;)
There is no requirement to refinance in order to utilise more CPF in the monthly installment. However, this is subject to the bank approving the increase.
Samsara's idea is to re-finance; I am unsure your relative's loan lock-in period? Usually there is a legal clawback clause that they would need to pay if they going to change any arrangement, that is also including re-financing. If the total sum bear by your relatives, assuming 800k @ 2.5k++ per month. He/she can request to finance bulk of it through CPF OA, assuming they both earn 5K and above; OA monthly contribution would be 1.1k, so total would be 2.2-2.3kSGD. The CPF adjustment is FOC and would bear no penalty charges then.
This would help them to soften the impact then. I am just surprise that your relatives have such a good saving - 200K cash on hand to pay off 20% of the house with stamp duty etc.
Btw, is this FH unit a new one or resales? Location? OCR or CCR?
sibei stress to loan 800k :scared-2::scared-2:
Samsara's idea is to re-finance; I am unsure your relative's loan lock-in period? Usually there is a legal clawback clause that they would need to pay if they going to change any arrangement, that is also including re-financing. If the total sum bear by your relatives, assuming 800k @ 2.5k++ per month. He/she can request to finance bulk of it through CPF OA, assuming they both earn 5K and above; OA monthly contribution would be 1.1k, so total would be 2.2-2.3kSGD. The CPF adjustment is FOC and would bear no penalty charges then.
This would help them to soften the impact then. I am just surprise that your relatives have such a good saving - 200K cash on hand to pay off 20% of the house with stamp duty etc.
Btw, is this FH unit a new one or resales? Location? OCR or CCR?
Its fh new in ocr, 813 sanctuary, near kovan. They sold their hdb, got some cash plus $200cpf. Ok lar, not surprising.
Its fh new in ocr, 813 sanctuary, near kovan. They sold their hdb, got some cash plus $200cpf. Ok lar, not surprising.
Ah, that explains why they have the cash for the downpayment.
What really motivates them to get a condo? I used to be like them till I almost retrenched last year. I have recently downgraded to HDB as I cannot take the stress over the loan repayment etc.
Are they 35 or below? If former, the risk is high with 800K loan in today economy outlook.
devilplate
02-01-12, 16:21
Ah, that explains why they have the cash for the downpayment.
What really motivates them to get a condo? I used to be like them till I almost retrenched last year. I have recently downgraded to HDB as I cannot take the stress over the loan repayment etc.
Are they 35 or below? If former, the risk is high with 800K loan in today economy outlook.
they got 200k cash lying in OA leh....ok la....let say int rate up...3k/mth installment.....200k can last them 5yrs+......cannot be 5yrs jobless rite?
they got 200k cash lying in OA leh....ok la....let say int rate up...3k/mth installment.....200k can last them 5yrs+......cannot be 5yrs jobless rite?
Ok, noted.
I just feel 800k loan is just too high risk. I also had a look in propertyguru for the development. It is an apartment with simple facilities and is in clutter area. Mid thirties is really prone to retrenchment; I am constantly worried for myself.
devilplate
02-01-12, 16:35
Ok, noted.
I just feel 800k loan is just too high risk. I also had a look in propertyguru for the development. It is an apartment with simple facilities and is in clutter area. Mid thirties is really prone to retrenchment; I am constantly worried for myself.
actually those high income earner more worrying.....
average folks earning 5k pm can easily find another job of let say 4k during bad times?
actually those high income earner more worrying.....
average folks earning 5k pm can easily find another job of let say 4k during bad times?
I do not agree; my household income is around 7kSGD. I am earning around 4kSGD+ gross as of now, and I have sent several resumes last year, and will be doing so this year as well.
I have difficulties in getting replies from the prospective companies. It can be quite worrying and I am 34 year old +++ now.
devilplate
02-01-12, 16:41
I do not agree; my household income is around 7kSGD. I am earning around 4kSGD+ gross as of now, and I have sent several resumes last year, and will be doing so this year as well.
I have difficulties in getting replies from the prospective companies. It can be quite worrying and I am 34 year old +++ now.
i noe of a fren quite high flyer earning like 500k a yr.....but his debts aso like crazily high.....driving a 280k car wif 90% loan......staying in a landed wif ard 2mil loan
wat if he kena retrenched?
i noe of a fren quite high flyer earning like 500k a yr.....but his debts aso like crazily high.....driving a 280k car wif 90% loan......staying in a landed wif ard 2mil loan
wat if he kena retrenched?
I cannot comment that friend of yours, but I am skeptical especially as I almost got retrenched late last year. I was even in the mood to get one unit in Mount Sina then and was discouraged by many kind rational forumers here.
I must admit its more of a risk management, and I must say I have weak appetitte for that.
Personally, I feel there are three main components for consideration:
a. what is the net position of the individual? E.g. loans = $5m but total paper value of assets = $10m means the net worth is $5m (positive)
b. what is the overall likelihood of the paper value of the assets holding? E.g. diversified holdings in stocks, properties, bonds, etc = balanced portfolio with minimal risk of net asset value dropping below total liabilities
c. what is the overall liquidity of the assets? E.g. stocks are liquid but can be volatile, properties are not as liquid but volatility is not as high, mix of holdings means liquidity and volatility of asset prices can have a balance
In the case of your friend, if his net assets value is $10m, outstanding liabilities of $3m would not be anything significant since it amounts to only 30% of his net worth.
Loans, when utilised properly, are highly effective tools for wealth creation.
Just my two cents worth.
i noe of a fren quite high flyer earning like 500k a yr.....but his debts aso like crazily high.....driving a 280k car wif 90% loan......staying in a landed wif ard 2mil loan
wat if he kena retrenched?
i noe of a fren quite high flyer earning like 500k a yr.....but his debts aso like crazily high.....driving a 280k car wif 90% loan......staying in a landed wif ard 2mil loan
wat if he kena retrenched?
Living the high life. If get retrench, the most is the car go for lor. And you can volunteer to help him out by taking over his car.
If it is not too sensitive, do you mind sharing which industry you are in and what kind of job scope are you interested in?
I do not agree; my household income is around 7kSGD. I am earning around 4kSGD+ gross as of now, and I have sent several resumes last year, and will be doing so this year as well.
I have difficulties in getting replies from the prospective companies. It can be quite worrying and I am 34 year old +++ now.
Further to my last post, a person's salary is an illusion. It creates both fear and complacency as a comfort zone. Fear of losing the salary and complacency in the false belief that the salary can be perpetually available. Until one recognises the true nature of "salary", he will not be able to achieve financial freedom.
i noe of a fren quite high flyer earning like 500k a yr.....but his debts aso like crazily high.....driving a 280k car wif 90% loan......staying in a landed wif ard 2mil loan
wat if he kena retrenched?
devilplate
02-01-12, 17:07
Personally, I feel there are three main components for consideration:
a. what is the net position of the individual? E.g. loans = $5m but total paper value of assets = $10m means the net worth is $5m (positive)
b. what is the overall likelihood of the paper value of the assets holding? E.g. diversified holdings in stocks, properties, bonds, etc = balanced portfolio with minimal risk of net asset value dropping below total liabilities
c. what is the overall liquidity of the assets? E.g. stocks are liquid but can be volatile, properties are not as liquid but volatility is not as high, mix of holdings means liquidity and volatility of asset prices can have a balance
In the case of your friend, if his net assets value is $10m, outstanding liabilities of $3m would not be anything significant since it amounts to only 30% of his net worth.
Loans, when utilised properly, are highly effective tools for wealth creation.
Just my two cents worth.
his house on 80% loan....car 90%
not a very close fren so i dun hf other details lor....hehehe
but well my point is to bring up those high income earner chalking up high debts lah....:D
If the high-income earner does not have correspondingly high net asset value and he chalks up large amounts of debt then he is asking for trouble. On the other hand, if the high-income earner chalks up debt as a utility to increase his net asset value, then he is able to create wealth much faster than he could ever have had without monetary tools such as loans.
his house on 80% loan....car 90%
not a very close fren so i dun hf other details lor....hehehe
but well my point is to bring up those high income earner chalking up high debts lah....:D
Living the high life. If get retrench, the most is the car go for lor. And you can volunteer to help him out by taking over his car.
LOL. i sold my SLK recently to make a small profit...also to release some spare cash.
anyway yup i know that if i get retrenched, i must have enough savings to tide me over next few months, but it is never much a worry for me because my passive income is actually quite ok.
a lot of singaporeans mindset is to work hard at work so they have stable income. i think that's not for me - i make sure i work very hard at creating a stable passive income, so that my day job income actually becomes redundant. but of course i am still young so i should continue to climb the corporate ladder.
with stable passive income, you don't have to worry about being made redundant. and because when you are good at what you do, companies fear losing you as an asset. so never forget to develop and upgrade your skills, develop a niche for yourself that companies will find you indispensable.
If it is not too sensitive, do you mind sharing which industry you are in and what kind of job scope are you interested in?
I am in lifescience/biotechnology industry, engineering and customer service. The outlook doesn't look favorable, and I reckon I will have any breakthrough.
I am looking for similiar capacity, managerial role if possible. The bottomline is a steadier job background with reasonable package.
devilplate
02-01-12, 17:13
If the high-income earner does not have correspondingly high net asset value and he chalks up large amounts of debt then he is asking for trouble. On the other hand, if the high-income earner chalks up debt as a utility to increase his net asset value, then he is able to create wealth much faster than he could ever have had without monetary tools such as loans.
but i am not toking abt debt mgmt hor....
LOL. i sold my SLK recently to make a small profit...also to release some spare cash.
anyway yup i know that if i get retrenched, i must have enough savings to tide me over next few months, but it is never much a worry for me because my passive income is actually quite ok.
a lot of singaporeans mindset is to work hard at work so they have stable income. i think that's not for me - i make sure i work very hard at creating a stable passive income, so that my day job income actually becomes redundant. but of course i am still young so i should continue to climb the corporate ladder.
with stable passive income, you don't have to worry about being made redundant. and because when you are good at what you do, companies fear losing you as an asset. so never forget to develop and upgrade your skills, develop a niche for yourself that companies will find you indispensable.
You probably in total control of your life, the way you wanted it to be.
Unlike you, I have one kid and expecting another one in June. My wife and myself are not high flyers and our combine household income is just a humble 4+3 = 7++KSGD gross. We have had the ambitious vision/dream to send our kid to Henry Park primary last year and somehow I woke up from the tempting dream after I almost retrenched. It was a close shave, and somehow the reality catches up with me.
Though I armed with an average degree with a master, I am somehow downright sandwiched in the middle, and probably lower middle rung of our society. I am not very optimistic and cautiously we downgraded to HDB for a peaceful sleep at night.
Your grasp of financial knowledge is sound and it is likely that you should be able to achieve financial freedom very easily (if you have not already done so) from this point on as long as you do not get distracted.
At age 25, active income: 100%, passive income: 0%
At age 30, active income: 80%, passive income: 20%
At age 35, active income: 60%, passive income: 40%
At age 40, active income: 40%, passive income: 60%
At age 45, active income: 20%, passive income: 80%
Once you are able to achieve at least 60% passive income, you are financially free and will be able to pursue any form of active income opportunity that is based on your personal beliefs and passions. Ironically, when this happens, your active income will then grow quickly as well (catch up with your passive income and overtake it) because you are no longer entirely dependant on it for subsistence, allowing you to do better than your peers in that area.
At that point, you no longer work for money but money continues to come in without much effort.
LOL. i sold my SLK recently to make a small profit...also to release some spare cash.
anyway yup i know that if i get retrenched, i must have enough savings to tide me over next few months, but it is never much a worry for me because my passive income is actually quite ok.
a lot of singaporeans mindset is to work hard at work so they have stable income. i think that's not for me - i make sure i work very hard at creating a stable passive income, so that my day job income actually becomes redundant. but of course i am still young so i should continue to climb the corporate ladder.
with stable passive income, you don't have to worry about being made redundant. and because when you are good at what you do, companies fear losing you as an asset. so never forget to develop and upgrade your skills, develop a niche for yourself that companies will find you indispensable.
devilplate
02-01-12, 17:19
You probably in total control of your life, the way you wanted it to be.
Unlike you, I have one kid and expecting another one in June. My wife and myself are not high flyers and our combine household income is just a humble 4+3 = 7++KSGD gross. We have had the ambitious vision/dream to send our kid to Henry Park primary last year and somehow I woke up from the tempting dream after I almost retrenched. It was a close shave, and somehow the reality catches up with me.
Though I armed with an average degree with a master, I am somehow downright sandwiched in the middle, and probably lower middle rung of our society. I am not very optimistic and cautiously we downgraded to HDB for a peaceful sleep at night.
oh i remember u oredi.....u wana upgrade to D10 condo rite?
yaya.....its totally impossible for u to upgrade.....somemore one more kid on the way
btw congrats .....gona haf a dragon baby!! :D
Further to my last post, a person's salary is an illusion. It creates both fear and complacency as a comfort zone. Fear of losing the salary and complacency in the false belief that the salary can be perpetually available. Until one recognises the true nature of "salary", he will not be able to achieve financial freedom.
Agree. Salary is but pocket money to me now. More important is the paid work must be meaningful. Building on passive income is more important to me at this point... I am over 35 and my last drawn is around 6k but so what, if your luck is not here and time not right you simply wont land the job no matter how hard you try...
oh i remember u oredi.....u wana upgrade to D10 condo rite?
yaya.....its totally impossible for u to upgrade.....somemore one more kid on the way
btw congrats .....gona haf a dragon baby!! :D
Thanks. It only means I need to be prudent and careful with my expenditure.
My babies are barely 1 year apart. My elder son was born last year May, and this second son will be arriving in June.
The life in Singapore is taking a toll of my wife and myself; we are considering getting one home in Iskandar and live there to better utilise our income.
What is your take?
devilplate
02-01-12, 17:22
LOL. i sold my SLK recently to make a small profit...also to release some spare cash.
hmm....ur SLK bot when COE low low?
been hearing ppl say they drive for free for 2-3yrs but tats only possible for those cheaper jap cars....conti cars cant make any profits leh :(
Congratulations on achieving "salary is but pocket money to me now". Not many people will be able to have that kind of achievement at age 35+. When you excel in your own area of expertise and are industrious in establishing and maintaining your network (of vendors, associates, partners, customers, etc), companies will look for you and not the other way around.
Agree. Salary is but pocket money to me now. More important is the paid work must be meaningful. Building on passive income is more important to me at this point... I am over 35 and my last drawn is around 6k but so what, if your luck is not here and time not right you simply wont land the job no matter how hard you try...
Agree. Salary is but pocket money to me now. More important is the paid work must be meaningful. Building on passive income is more important to me at this point... I am over 35 and my last drawn is around 6k but so what, if your luck is not here and time not right you simply wont land the job no matter how hard you try...
Hi mcmlxxvi,
How do you survive without a job now? or you are getting lesser paid job to make yourself less stress?
devilplate
02-01-12, 17:23
Thanks. It only means I need to be prudent and careful with my expenditure.
My babies are barely 1 year apart. My elder son was born last year May, and this second son will be arriving in June.
The life in Singapore is taking a toll of my wife and myself; we are considering getting one home in Iskandar and live there to better utilise our income.
What is your take?
dun stay in boleh land la.....security issue hor,.....u single den no problem.....but u got kids and wifey lor
Congratulations to you on the incipient birth. :)
The best investment is in your kids. Look back on your own journey in various aspects (financial, education, moral values, compassion, empathy etc) and ask yourself how your experience will help pave the path for them. For example, in the area of financial literacy, did you ever wonder whether your personal investment strategies would have been different in your early working years had your financial knowledge been stronger?
Thanks. It only means I need to be prudent and careful with my expenditure.
My babies are barely 1 year apart. My elder son was born last year May, and this second son will be arriving in June.
The life in Singapore is taking a toll of my wife and myself; we are considering getting one home in Iskandar and live there to better utilise our income.
What is your take?
You probably in total control of your life, the way you wanted it to be.
Unlike you, I have one kid and expecting another one in June. My wife and myself are not high flyers and our combine household income is just a humble 4+3 = 7++KSGD gross. We have had the ambitious vision/dream to send our kid to Henry Park primary last year and somehow I woke up from the tempting dream after I almost retrenched. It was a close shave, and somehow the reality catches up with me.
Though I armed with an average degree with a master, I am somehow downright sandwiched in the middle, and probably lower middle rung of our society. I am not very optimistic and cautiously we downgraded to HDB for a peaceful sleep at night.
You are humble. Do agree that with a kid, you can take less risks. However you are still young at 34. Even max out loan also no problem. Never look at mortgage as something poisonous. It is only if you let it control you rather than control it to help you make money. A property can be an asset or liability depending on how you manage it. Step by step. Dont need to jump straight to D10. You are fortunate yo have a goal. Most people dont even know what they really want and just follow the herd. Start small. Buy Something you can live in and yet price allow you to sleep at night. When time comes and opportunity comes be brave and sell it. Upgrade. Then buy more if possible. Start to build on that passive income...in good times you can accomplish many levels in just one year or two.
If the high-income earner does not have correspondingly high net asset value and he chalks up large amounts of debt then he is asking for trouble. On the other hand, if the high-income earner chalks up debt as a utility to increase his net asset value, then he is able to create wealth much faster than he could ever have had without monetary tools such as loans.
yup healthy debts are good. i must thank my dad in inculcating me the right 'training' since young on how to service good debt. for example, when i wanted to buy a nike shoe for $180 (back in 1992, that is helluva expensive for a teenager), he would 'loan' me $180 as installments i.e he would deduct $10 from my pocket money every week (and then a $10 'admin' surcharge that i have to use my own savings to get the $180 loan). i learnt that at the end of the day, i could still purchase something even though i don't have the full amount.
my brother and i had an 'accounts book' each and we have to manage it and it was always a fun affair doing accounting. we will seek all ways to repay the loan asap e.g. volunteer to wash the car for $5, weed the garden for $3....and 'invest' the money i.e. if we save $50, we will request Dad (our banker) to hold it for us for six months, and he'll double whatever we saved every 6 months.
instead of becoming money-minded, i felt that i was very financially savvy at a young age. when i went university, i started my own trading account with his blessings.
man, miss my dad....
Bro, there is great value in boleh-land. That is the reason why we call it boleh-land. Otherwise we will call it tat-boleh-land. :)
dun stay in boleh land la.....security issue hor,.....u single den no problem.....but u got kids and wifey lor
I pity you. Did you go into this industry because of all the rosy news previously? Remember there are strong encouragement previously for people to go into this industry? What happened now? I fear this is going to be similar to IT industry in early 1990s where too many people graduate with IT degrees and after several years many become jobless and have to switch field. :scared-3:
I am in lifescience/biotechnology industry, engineering and customer service. The outlook doesn't look favorable, and I reckon I will have any breakthrough.
I am looking for similiar capacity, managerial role if possible. The bottomline is a steadier job background with reasonable package.
Congratulations to you on the incipient birth. :)
The best investment is in your kids. Look back on your own journey in various aspects (financial, education, moral values, compassion, empathy etc) and ask yourself how your experience will help pave the path for them. For example, in the area of financial literacy, did you ever wonder whether your personal investment strategies would have been different in your early working years had your financial knowledge been stronger?
You are right in developng financial knowledge, however in those days I am even poorer to begin with. But, you are right I should fall back on my past experience and guide my kids out of the dilemma I am facing now.
hmm....ur SLK bot when COE low low?
been hearing ppl say they drive for free for 2-3yrs but tats only possible for those cheaper jap cars....conti cars cant make any profits leh :(
no leh...i made $30K leh....
devilplate
02-01-12, 17:28
anyway now bestest time for those looking to upgrade or buy first ppty for investment.....ppty px arent gg to rise much.....more likely to drop and u can haf the luxury of time to save up more
Ah, that explains why your understanding is so different from a lot of other people. Your dad was very wise and has taught you and your brother very well. You are living testament to his brilliance.
yup healthy debts are good. i must thank my dad in inculcating me the right 'training' since young on how to service good debt. for example, when i wanted to buy a nike shoe for $180 (back in 1992, that is helluva expensive for a teenager), he would 'loan' me $180 as installments i.e he would deduct $10 from my pocket money every week (and then a $10 'admin' surcharge that i have to use my own savings to get the $180 loan). i learnt that at the end of the day, i could still purchase something even though i don't have the full amount.
my brother and i had an 'accounts book' each and we have to manage it and it was always a fun affair doing accounting. we will seek all ways to repay the loan asap e.g. volunteer to wash the car for $5, weed the garden for $3....and 'invest' the money i.e. if we save $50, we will request Dad (our banker) to hold it for us for six months, and he'll double whatever we saved every 6 months.
instead of becoming money-minded, i felt that i was very financially savvy at a young age. when i went university, i started my own trading account with his blessings.
man, miss my dad....
devilplate
02-01-12, 17:29
no leh...i made $30K leh....
u sell urself? how easy to sell ar.....i scare vy troublesome leh
I pity you. Did you go into this industry because of all the rosy news previously? Remember there are strong encouragement previously for people to go into this industry? What happened now? I fear this is going to be similar to IT industry in early 1990s where too many people graduate with IT degrees and after several years many become jobless and have to switch field. :scared-3:
It is tough and almost impossible for me to switch industry now as I am already almost mid 30s. With 2 kids with me, it is even harder for me to make any drastic changes in my current profile unless there are some kind forumers here who wish to give me some help.
Else, I guess I will take it as it is and just work to my best. As of now, I read this forum as a favorite past time and hopefully I will win TOTO and afford a unit of my choice.
Congratulations on achieving "salary is but pocket money to me now". Not many people will be able to have that kind of achievement at age 35+. When you excel in your own area of expertise and are industrious in establishing and maintaining your network (of vendors, associates, partners, customers, etc), companies will look for you and not the other way around.
I confess I never placed 100 percent in my work when I could... In recent years, with some bullets, half the time was busy building on passive income rather than seriously working... But I have been frugal, still am, and I never go the illegal way nor harm anyone else in my past 10+ years of work. So I always rest peacefully at night...
u sell urself? how easy to sell ar.....i scare vy troublesome leh
Wrong topic haha
devilplate
02-01-12, 17:32
Bro, there is great value in boleh-land. That is the reason why we call it boleh-land. Otherwise we will call it tat-boleh-land. :)
my relatives in msia tell me better dun invest in msia ppty hor.....they say only KL worth looking at.....
den i look at it....might as well jus hold ringgit in FD to earn 3-3.5% worry free int?
vy tough to collect rental in boleh land.....LOL
devilplate
02-01-12, 17:33
lalalalallalaa
Money is important but it is not the most important. Financial mastery lies not only in the understanding of the purpose of money. It also lies in the understanding of humanity - psychology, moral values, needs and wants. With a sound understanding of humanity, you will understand that money is a construct of humanity and as such can be wielded to do your bidding instead of being enslaved by it.
You are right in developng financial knowledge, however in those days I am even poorer to begin with. But, you are right I should fall back on my past experience and guide my kids out of the dilemma I am facing now.
devilplate
02-01-12, 17:39
Money is important but it is not the most important. Financial mastery lies not only in the understanding of the purpose of money. It also lies in the understanding of humanity - psychology, moral values, needs and wants. With a sound understanding of humanity, you will understand that money is a construct of humanity and as such can be wielded to do your bidding instead of being enslaved by it.
ur ang mor damn powderful
i macham like reading a book lor....LOL
Hi mcmlxxvi,
How do you survive without a job now? or you are getting lesser paid job to make yourself less stress?
I am semi retired now, living on rental income and eating away on my cpf actually to service the loan so as not to eat into contingency funds ...while awaiting my 3rd property to complete for more passive income... Meanwhile considering contract job to add on bullets...
ur ang mor damn powderful
i macham like reading a book lor....LOL
Ya very enjoy and inspirational leh. Samsara come out book leh... I buy... Kekeke
Malaysia and Singapore are in a unique 唇亡齿寒 situation today. Singapore needs to help Malaysia in order to help ourselves. Our strengths (branding, reputation, systems, etc) can help Malaysia establish herself on the global stage. The leaders of today have recognised that, and unlike the previous hard-liners who put personal enmity above national interests, are working towards that.
The two countries will work together closely and become more integrated economically. The other aspects will gel in time to come (properties, FDIs, currencies, etc).
my relatives in msia tell me better dun invest in msia ppty hor.....they say only KL worth looking at.....
den i look at it....might as well jus hold ringgit in FD to earn 3-3.5% worry free int?
vy tough to collect rental in boleh land.....LOL
my relatives in msia tell me better dun invest in msia ppty hor.....they say only KL worth looking at.....
den i look at it....might as well jus hold ringgit in FD to earn 3-3.5% worry free int?
vy tough to collect rental in boleh land.....LOL
the few sporeans i know who are looking at JB malaysia is doing so for retirement and lower cost of living, simply bcos they are being priced out of spore. I too am not optimisstic on malaysia property for investment/rental.
Frankly, I have spent a substantial amount of time and effort in my early years on improving my grasp of the English language. Part of the reason was practicality, the other was passion. The practical aspect lay in the area of academic pursuits - a strong grasp of language allowed me to learn faster and more in-depth than my peers. It also helped that I was terribly passionate about reading and writing.
ur ang mor damn powderful
i macham like reading a book lor....LOL
u sell urself? how easy to sell ar.....i scare vy troublesome leh
no lah quite easy. place the ad sgcarmart, then people will contact you. usually people who want to buy luxury cars are serious buyers (and dealers) anyway.
i sold it within 5 days, but i was lucky because expat bought from me, and he didn't negotiate much i did all the running to LTA and transfer paperwork for him, even help him applied car insurance LOL.
Thanks bro. I do try to write down my thoughts in my spare time and have a small collection of writings pertaining to various aspects of life (financial, spiritual, etc) which I share with my associates. Nothing fantastic but it serves as a read for me sometimes when I am in a retrospective mood. You will be surprised how one's psyche and mind-state change over the years. Sometimes I do not even recognise my own writings done tens of years ago.
Ya very enjoy and inspirational leh. Samsara come out book leh... I buy... Kekeke
u sell urself? how easy to sell ar.....i scare vy troublesome leh
u can place an ad and sell it yourself. Once u and buyer have decided u can PM me if u need contacts to help u settle the hustle. I have contacts that do it for almost free.
devilplate
02-01-12, 17:57
no lah quite easy. place the ad sgcarmart, then people will contact you. usually people who want to buy luxury cars are serious buyers (and dealers) anyway.
i sold it within 5 days, but i was lucky because expat bought from me, and he didn't negotiate much i did all the running to LTA and transfer paperwork for him, even help him applied car insurance LOL.
i was told if new buyer taking loan....den paperwork can leave it to a middleman tat earn on bank loan comm....hmm
mabe i shd try to sell my car
sell to dealer without trade in for conti cars at least kotok 15-30k off the market fair value depending on the model
Thanks bro. I do try to write down my thoughts in my spare time and have a small collection of writings pertaining to various aspects of life (financial, spiritual, etc) which I share with my associates. Nothing fantastic but it serves as a read for me sometimes when I am in a retrospective mood. You will be surprised how one's psyche and mind-state change over the years. Sometimes I do not even recognise my own writings done tens of years ago.
looking at your nick, i believe you are buddhist? i am buddhist also. actually blessed with the good life i've had, there's a good amount of money that i actually donate back to charity. my close friends think i want to lower my taxes but basically my motivation is that i believe being blessed with such wealth it is important to cultivate selflessness and give it back to society.
ultimately, i can't bring my money and properties with me in my next life. my guru always remind me to practice non-attachment!!! which i am trying my best to not let material needs rule my life - ultimately we should harness our wealth to gain more wisdom and practice compassion. :)
devilplate
02-01-12, 17:58
u can place an ad and sell it yourself. Once u and buyer have decided u can PM me if u need contacts to help u settle the hustle. I have contacts that do it for almost free.
yeah...heard abt such middleman from vag forum too
i was told if new buyer taking loan....den paperwork can leave it to a middleman tat earn on bank loan comm....hmm
mabe i shd try to sell my car
sell to dealer without trade in for conti cars at least kotok 15-30k off the market fair value depending on the model
yup dealers want to earn money from you, not you from them! just like developers!!!
devilplate
02-01-12, 18:02
Thanks bro. I do try to write down my thoughts in my spare time and have a small collection of writings pertaining to various aspects of life (financial, spiritual, etc) which I share with my associates. Nothing fantastic but it serves as a read for me sometimes when I am in a retrospective mood. You will be surprised how one's psyche and mind-state change over the years. Sometimes I do not even recognise my own writings done tens of years ago.
mindset cfm changes over time
Investment is most rewarding when it is pre-emptive instead of reactive. When we observe changes in the environment, we need to act swiftly on these observations and the corresponding analyses. This applies not only to property investments but to other areas such as business opportunities as well.
Few in the early part of the post-war 20th century would have thought about investing in Singapore land. On hind-sight, a lot of things are clearly seen; the challenge is to recognise potential before the masses do and to have the gumption to act on one's beliefs.
my relatives in msia tell me better dun invest in msia ppty hor.....they say only KL worth looking at.....
den i look at it....might as well jus hold ringgit in FD to earn 3-3.5% worry free int?
vy tough to collect rental in boleh land.....LOL
It is tough and almost impossible for me to switch industry now as I am already almost mid 30s. With 2 kids with me, it is even harder for me to make any drastic changes in my current profile unless there are some kind forumers here who wish to give me some help.
Else, I guess I will take it as it is and just work to my best. As of now, I read this forum as a favorite past time and hopefully I will win TOTO and afford a unit of my choice.
yo bro yowetan, be "not afraid of changes". u are barely 5 years from your super prime of 40. There are many industries that offer better opportunities. Let go of your fear and ask successful pple ard u, i m sure if u open your mind to changes u might find unexpected rewards.
in todays huat huat times, i see many 30s making 120-150k, and these are not the super huat. The secret lies in the industry i believe.
I am thinking of getting a condo unit in JB Iskandar area, and live there with my family. Then I will continue working in Singapore and shuttle between 2 countries, with my wife and my kids (when they are in schools).
Till then, I will rent out my HDB.
Is the plan viable?
Your 慧根 and 福报 are strong. One's affinity with wealth is a result of prior karma. One's karma is the result of prior action. In giving without expectations, one shall receive ten-fold of what he has given.
Wisdom allows society to discern the roots of suffering. Compassion allows society to work on dismantling them.
looking at your nick, i believe you are buddhist? i am buddhist also. actually blessed with the good life i've had, there's a good amount of money that i actually donate back to charity. my close friends think i want to lower my taxes but basically my motivation is that i believe being blessed with such wealth it is important to cultivate selflessness and give it back to society.
ultimately, i can't bring my money and properties with me in my next life. my guru always remind me to practice non-attachment!!! which i am trying my best to not let material needs rule my life - ultimately we should harness our wealth to gain more wisdom and practice compassion. :)
yo bro yowetan, be "not afraid of changes". u are barely 5 years from your super prime of 40. There are many industries that offer better opportunities. Let go of your fear and ask successful pple ard u, i m sure if u open your mind to changes u might find unexpected rewards.
in todays huat huat times, i see many 30s making 120-150k, and these are not the super huat. The secret lies in the industry i believe.
Hi DaytonaSS bro, thanks for the encouragement. I do need that though. As much as I want or hope for a better salary or package I also aware if I have the quality to take that kind of package.
I admit I am not the smartest, witty nor outstanding. Hence, I am kinda lack of confidence of myself.....especially lately.
Your plan is very tiring on your wife and kids.
Your plan is very tiring on your wife and kids.
I am currently driving though, and my elder son is only 8 months old. Hence, there will be a potential of 3-4 years period which I do not have to worry ferry my children thru n fro the two nation.
Having said that, my wife and myself have to adhere to the travelling timing. The fortunate part is our working location is near to each other.
It is all about cost of living. Money not enough.
Thanks bro. I do try to write down my thoughts in my spare time and have a small collection of writings pertaining to various aspects of life (financial, spiritual, etc) which I share with my associates. Nothing fantastic but it serves as a read for me sometimes when I am in a retrospective mood. You will be surprised how one's psyche and mind-state change over the years. Sometimes I do not even recognise my own writings done tens of years ago.
Do you have those on Twitter? I will 'follow'...
I am thinking of getting a condo unit in JB Iskandar area, and live there with my family. Then I will continue working in Singapore and shuttle between 2 countries, with my wife and my kids (when they are in schools).
Till then, I will rent out my HDB.
Is the plan viable?
viable, just make sure ur kids' schs are in woodlands, and you work in woodlands. then u can drive malaysian car also. i know of people who do that but they don't look very happy to me leh...it's like they are always far away and doesn't join us for gatherings...always in their own houses in JB during weekends/holidays...i think it's suitable for those who are very private people with no interest in socializing...unless u already have friends in JB.
viable, just make sure ur kids' schs are in woodlands, and you work in woodlands. then u can drive malaysian car also. i know of people who do that but they don't look very happy to me leh...it's like they are always far away and doesn't join us for gatherings...always in their own houses in JB during weekends/holidays...i think it's suitable for those who are very private people with no interest in socializing...unless u already have friends in JB.
There is a problem. I do not have much friends in Singapore and definitely do not have any in Malaysia.
The only copies I have of them are saved in my computer. :) Perhaps we can arrange a GTG for this forum sometime soon, will be great to meet up with the folks here...
Do you have those on Twitter? I will 'follow'...
Bro, you may wish to wait till the third link is announced before you make any decisions. I believe there should be something on this sometime soon.
There is a problem. I do not have much friends in Singapore and definitely do not have any in Malaysia.
Bro, you may wish to wait till the third link is announced before you make any decisions. I believe there should be something on this sometime soon.
Please enlighten me what is this 3rd link you are refering, also how can this impact and affect my decision? TIA.
The only copies I have of them are saved in my computer. :) Perhaps we can arrange a GTG for this forum sometime soon, will be great to meet up with the folks here...
We should GTG at and gate crash one of the FEO 'lunch buffet' lol and question all the agents until they cryyyyyyy lol
Presently there are two physical links between Singapore and Malaysia. They are the Causeway and the Second Link (Tuas). It is probable that there will be another physical link that will be established between the two countries. Given that much emphasis has been placed on the Iskandar Development Region (IDR), the third link (if any) should provide greater convenience to business folks travelling between Singapore and the IDR.
Disclaimer: the above is just my conjecture.
Please enlighten me what is this 3rd link you are refering, also how can this impact and affect my decision? TIA.
Maybe we could have a group buy with a 50% discount. :cheers1:
We should GTG at and gate crash one of the FEO 'lunch buffet' lol and question all the agents until they cryyyyyyy lol
devilplate
02-01-12, 19:21
Investment is most rewarding when it is pre-emptive instead of reactive. When we observe changes in the environment, we need to act swiftly on these observations and the corresponding analyses. This applies not only to property investments but to other areas such as business opportunities as well.
Few in the early part of the post-war 20th century would have thought about investing in Singapore land. On hind-sight, a lot of things are clearly seen; the challenge is to recognise potential before the masses do and to have the gumption to act on one's beliefs.
Wat u tink of ringgit vs sgd? For the past few decades, ringgit been on a low term downtrend.....any chance of reversal?
phantom_opera
02-01-12, 19:23
samsara's nick reminds me of this powerful movie
http://www.youtube.com/watch?v=ESvXW0b1NsA
the third link is the MRT going up to JB lor...
I am thinking of getting a condo unit in JB Iskandar area, and live there with my family. Then I will continue working in Singapore and shuttle between 2 countries, with my wife and my kids (when they are in schools).
Till then, I will rent out my HDB.
Is the plan viable?
How long have you live in the hdb?
Trying to semi-retire and enjoy basic passive income from rental too. Any tips to share?
I am semi retired now, living on rental income and eating away on my cpf actually to service the loan so as not to eat into contingency funds ...while awaiting my 3rd property to complete for more passive income... Meanwhile considering contract job to add on bullets...
How long have you live in the hdb?
I just downgraded from my condo to HDB 2 months ago. It is a resales unit.
I just downgraded from my condo to HDB 2 months ago. It is a resales unit.
Is there a mop before you can buy second property?
Is there a mop before you can buy second property?
I believe there is a MOP for next property in Singapore. I am unsure if it is applicable if I am getting one in Malaysia?
Trying to semi-retire and enjoy basic passive income from rental too. Any tips to share?
Hmmm, the run up is pass... But timing still very important. Personally, I think, except for some projects, generally timing has become more important than location... Build the portfolio step by step. Have a goal for each move, be it 50k, 100k or 500k. Have a plan and time horizon and execute it when time comes. The rest is intuition and pure guts...
devilplate
02-01-12, 20:46
I believe there is a MOP for next property in Singapore. I am unsure if it is applicable if I am getting one in Malaysia?
If buy resale without grant, i believe no mop to buy pte ppty.....
devilplate
02-01-12, 20:47
Trying to semi-retire and enjoy basic passive income from rental too. Any tips to share?
How much a mth u nid inorder to go into semi
If buy resale without grant, i believe no mop to buy pte ppty.....
the minute you buy HDB, new or resale, there's a MOP of 5 years.
devilplate
02-01-12, 21:04
the minute you buy HDB, new or resale, there's a MOP of 5 years.
Mop to buy pte ppty hor....u so sure meh?
Not toking abt mop to sell or sublet hor
thought you were referring to pte. pte never had an mop, just the seller stamp duty mah.
now that i look at the ruling, so it doesn't preclude a owner from buying a resale hdb, and buy a private after that but they have to stay in the hdb for 5 years?
devilplate
02-01-12, 21:17
thought you were referring to pte. pte never had an mop, just the seller stamp duty mah.
now that i look at the ruling, so it doesn't preclude a owner from buying a resale hdb, and buy a private after that but they have to stay in the hdb for 5 years?
Yes sir u r rite provided never take cpf housing grant
Mop to buy pte ppty hor....u so sure meh?
Not toking abt mop to sell or sublet hor
Q: I have not fulfilled the minimum occupation period. What are the types of private properties I can invest in?
[ Living in HDB Flats > Purchasing Private Properties ]
A: If you have not fulfilled the minimum occupation period, you can only invest in:
pure commercial properties
pure industry properties
vacant land not zoned for residential developmentYou cannot invest in any type of property that is classified as residential or has residential accommodation.
Example:
Mr Tan has not fulfilled the minimum occupation period for his HDB flat. He wants to invest in a two-storey shop house. The first story is a retail shop. The second story is an apartment. He cannot invest because the property offers residential accommodation.
devilplate
02-01-12, 21:23
Haha....pls read thru hdb website thoroughly la....aiyoyoyo
Haha....pls read thru hdb website thoroughly la....aiyoyoyo
ah so des. thank you for the clarification.
I just downgraded from my condo to HDB 2 months ago. It is a resales unit.
You need to stay in the Hdb minimum 5 yrs before you can sell it or rent it out la...
Q: I have not fulfilled the minimum occupation period. What are the types of private properties I can invest in?
[ Living in HDB Flats > Purchasing Private Properties ]
A: If you have not fulfilled the minimum occupation period, you can only invest in:
pure commercial properties
pure industry properties
vacant land not zoned for residential developmentYou cannot invest in any type of property that is classified as residential or has residential accommodation.
Example:
Mr Tan has not fulfilled the minimum occupation period for his HDB flat. He wants to invest in a two-storey shop house. The first story is a retail shop. The second story is an apartment. He cannot invest because the property offers residential accommodation.
Where you get that from? Hdb or cpf? Its strange. Coz last I know you can just buy the private except you must stay in hdb during the MOP...
devilplate
02-01-12, 21:35
ah so des. thank you for the clarification.
I only partially correct....wakakaka
Bot after 30th aug 2010, all must fulfil 5yrs mop before one allowed to buy pte
http://www.hdb.gov.sg/fi10/fi10325p.nsf/w/PrivatePtyEligibility?OpenDocument
Where you get that from? Hdb or cpf? Its strange. Coz last I know you can just buy the private except you must stay in hdb during the MOP...http://askhdb.hdb.gov.sg/Home/Hybrid/Themes/HDB/view-results.asp?mesid=5824355&iscfp=&selectedcategory=&from=ask&folderid=&projectid=7875909&reaskpage=answer%2Easp&recordquestion=&returnurl=
From HDB website! :o
I only partially correct....wakakaka
Bot after 30th aug 2010, all must fulfil 5yrs mop before one allowed to buy pte
http://www.hdb.gov.sg/fi10/fi10325p.nsf/w/PrivatePtyEligibility?OpenDocument
I didn't know about the commercial ave. Haha.
I only partially correct....wakakaka
Bot after 30th aug 2010, all must fulfil 5yrs mop before one allowed to buy pte
http://www.hdb.gov.sg/fi10/fi10325p.nsf/w/PrivatePtyEligibility?OpenDocument
Oh...! Dont personally know anyone who bought after that, no wonder I still blur... Thanks bros devil and yap for clarifying.
Oh...! Dont personally know anyone who bought after that, no wonder I still blur... Thanks bros devil and yap for clarifying.You are most welcome... :cheers4:
This forum very useful, every time learn something new.
This forum very useful, every time learn something new.
Cheers to that... Wish every bro and sis here tomorrow 开工大吉! While I continue looking... Lol
Hi DaytonaSS bro, thanks for the encouragement. I do need that though. As much as I want or hope for a better salary or package I also aware if I have the quality to take that kind of package.
I admit I am not the smartest, witty nor outstanding. Hence, I am kinda lack of confidence of myself.....especially lately.
bro y dont u start by doing some reading. Alot of pple are restricted by their mindset. For change to happen it must start from oneself. "For things to change, i m change first"
First feed your mind with positive food, before u can effect changes in your attitude and then actions. Before anything good can happen, u need to attract it. 1 book U can Start reading/ DVD is " The Secret" and understand the law of attraction.
The Smartest can also self destruct in casinos lor, so its more than being the smartest.
Advice from my msian JB bros:
can buy in JB, but only to stay (weekday or/and weekend) and enjoy the 'exchange-rate'. House price will not rise. And if you really plan/want to buy, just get a 'non-famous' landed terrace of around RM300k.
'Development' changes its location every decade or so in Johore. Caveat Emptor :2cents:
$20k/mth. Any advice?
How much a mth u nid inorder to go into semi
$20k/mth. Any advice?$20k a month for semi? Does it include both passive and active income? I take it as full retirement already... $20k/mth salary belongs to the top 5% of Singaporeans already, right? :o
Ok, after reading the comments, we were advising that he sell off his 813@sanctuary 2 bedder and wait. When price dropped next year, he can get a 3 bedder with the same owning power. By the way, anyone with a kid stay in a 2 bedder? Is it too small for a family of 3?? I know ideally will be a 2+S, but what abt 2 bedder and the child's room with study table for whole family? that is what happen to my relative now. M trying to use this to convince him to sell and upgrade, meanwhile wait for crash.
Ok, after reading the comments, we were advising that he sell off his 813@sanctuary 2 bedder and wait. When price dropped next year, he can get a 3 bedder with the same owning power. By the way, anyone with a kid stay in a 2 bedder? Is it too small for a family of 3?? I know ideally will be a 2+S, but what abt 2 bedder and the child's room with study table for whole family? that is what happen to my relative now. M trying to use this to convince him to sell and upgrade, meanwhile wait for crash.
I own a 2 BR in hillview previously with a young toddler then; it is still okay as the floor space is squarish and well utilise. However, I moved on as I couldnt take the stress of paying up the units. Now, I can sleep better in my 5 room HDB flat in Yishun.
1. Who can say for sure price will drop next year?
2. If drop will it be big enough to justify getting lock in by all the seller's SSD and paying another round of stamp duties and legal fees, agent fees etc?
3. If didn't drop who going to compensate them?
Above food for thought. Not an inducement to sell or to buy. :ashamed1:
Ok, after reading the comments, we were advising that he sell off his 813@sanctuary 2 bedder and wait. When price dropped next year, he can get a 3 bedder with the same owning power. By the way, anyone with a kid stay in a 2 bedder? Is it too small for a family of 3?? I know ideally will be a 2+S, but what abt 2 bedder and the child's room with study table for whole family? that is what happen to my relative now. M trying to use this to convince him to sell and upgrade, meanwhile wait for crash.
1. Who can say for sure price will drop next year?
2. If drop will it be big enough to justify getting lock in by all the seller's SSD and paying another round of stamp duties and legal fees, agent fees etc?
3. If didn't drop who going to compensate them?
Above food for thought. Not an inducement to sell or to buy. :ashamed1:
I agree. If everything was hunky dory, and interest rates are at a high, I'm pretty sure there's a good chance of a significant correction due to European woes. But there's so much pessimism and caution, how can a market peak with this kind of market psychology?
primeesense
03-01-12, 20:22
This thread has deviated quite a bit from what it was started to be, but I must say this is one of the best threads in this forum. A lot of food for thought :)
I own a 2 BR in hillview previously with a young toddler then; it is still okay as the floor space is squarish and well utilise. However, I moved on as I couldnt take the stress of paying up the units. Now, I can sleep better in my 5 room HDB flat in Yishun.
Good choice.
As long can sleep comfortable at night, be it a condo or HDB, it is ok.
more so 2bedroom to 5room, size is bigger, your kids can enjoy a lot.
Congret!
Good choice.
AS long dont buy FEO project means affordable.
I own a 2 BR in hillview previously with a young toddler then; it is still okay as the floor space is squarish and well utilise. However, I moved on as I couldnt take the stress of paying up the units. Now, I can sleep better in my 5 room HDB flat in Yishun.
Right move. Not worth the risk holding on to pc, if over stretch on instalment. But I will prefer to hold on to pc than hdb at this inflation period. No one can be sure price will dip this year when us and Europe keep pushing back crisis with loans.
As for your thoughts on Malaysia property, I think the investment is even higher risk than Singapore due to unstable government and inmature policy making..
I think many here missed the boat in Malaysia due to past prejudices and perceptions. Culturally and fundamentally, there is a lot familiarity, Malaysia has a lot of potential and there are alot of opportunities there.
Past 3-4 years, you would have easily doubled or tripled your money if you had invested in good KL or Penang properties.
JB looks set to be the next big move.
The political landscape has totally changed since Dr M's days. Never forget, he was dominant in Malaysia for 22years and he had an axe to grind. Today, look at Iskandar Malaysia and the multitude and scope of cooperation taking place between Singapore and Malaysia.
Not too long ago, we were still squabbling about water agreements and crooked bridge. Fast forward today, the KTM tracks since British colonial times were taken away in July last year, MRT going into JB by 2018, large tracts of prime Marina Bay has been marked for joint development, etc, etc. It would have been unimaginable just 4-5 years ago.
As in any property investments, be it in Spore or elsewhere, its about choosing wisely, location, timing and guts.
Lol, buying more singapore properties also not enough bullets, definitely don't feel missing any boat in Malaysia for past 3-4 years.
You may be right on some Malaysia properties. In Singapore for the past 4year, close both eye also make in property at any part of Singapore.
As for iskander, It is too early to buy into the idea now, no one can be sure of its success, given Malaysia track records.
Even Robert Kuok quit Malaysia.. Something is not right..
I think many here missed the boat in Malaysia due to past prejudices and perceptions. Culturally and fundamentally, there is a lot familiarity, Malaysia has a lot of potential and there are alot of opportunities there.
Past 3-4 years, you would have easily doubled or tripled your money if you had invested in good KL or Penang properties.
JB looks set to be the next big move.
The political landscape has totally changed since Dr M's days. Never forget, he was dominant in Malaysia for 22years and he had an axe to grind. Today, look at Iskandar Malaysia and the multitude and scope of cooperation taking place between Singapore and Malaysia.
Not too long ago, we were still squabbling about water agreements and crooked bridge. Fast forward today, the KTM tracks since British colonial times were taken away in July last year, MRT going into JB by 2018, large tracts of prime Marina Bay has been marked for joint development, etc, etc. It would have been unimaginable just 4-5 years ago.
As in any property investments, be it in Spore or elsewhere, its about choosing wisely, location, timing and guts.
Think we have said enough about Malaysia, so buyers beware!
I always say, if you want Malaysia to make it, a few ways:
1) Chinese take over govt (not possible right?)
2) tackle corruption from the ground level (not possible right since corruption is rampant at the top?).
3) improve security (not possible when you find police is even corrupt right?)
4) Make Malaysia's land as small as Singapore! :tongue3:
Short of the above, Malaysia property price got no hope of long-term appreciation. Every thing is fake. Iskandar? Many people forgot the Waterfront city JB tried to build near the Woodlands Causeway. Now is dead town! Let's see: Iskandar can make it? :banghead:
Lol, buying more singapore properties also not enough bullets, definitely don't feel missing any boat in Malaysia for past 3-4 years.
You may be right on some Malaysia properties. In Singapore for the past 4year, close both eye also make in property at any part of Singapore.
As for iskander, It is too early to buy into the idea now, no one can be sure of its success, given Malaysia track records.
Even Robert Kuok quit Malaysia.. Something is not right..
I own a 2 BR in hillview previously with a young toddler then; it is still okay as the floor space is squarish and well utilise. However, I moved on as I couldnt take the stress of paying up the units. Now, I can sleep better in my 5 room HDB flat in Yishun.
Nice move, and can get back a HDB... before the previous CM.
I own a 2 BR in hillview previously with a young toddler then; it is still okay as the floor space is squarish and well utilise. However, I moved on as I couldnt take the stress of paying up the units. Now, I can sleep better in my 5 room HDB flat in Yishun.
what is the difference in monthly installments between the ex-PC and your current HDB?
I own a 2 BR in hillview previously with a young toddler then; it is still okay as the floor space is squarish and well utilise. However, I moved on as I couldnt take the stress of paying up the units. Now, I can sleep better in my 5 room HDB flat in Yishun.
In my opinion, you made a wise choice. The space in a 5 room HDB is good enough for your family with 2 kids. I don't advise you to move to JB. Security/safety of your wife and kids is a concern. When your kids start to go to school, it will be very very inconvenient for them to shuttle back and forth between Henry Park and JB. There will be a lot of wasted time for them sitting in the car. Yishun is still accessible to all parts of Singapore by public transport (albeit a long journey) but at least your kids can travel safely on their own around Singapore from Yishun when they are older. And if worst come to the worst you and your wife can still give up the car (a depreciating asset) and use public transport and taxis too. It would be prudent for you to set aside money for the kids education rather than property at this stage given your circumstances.
How about property in Bangkok? Thinking of spending a few months as it has lower cost of living when I want to retire.
Think we have said enough about Malaysia, so buyers beware!
I always say, if you want Malaysia to make it, a few ways:
1) Chinese take over govt (not possible right?)
2) tackle corruption from the ground level (not possible right since corruption is rampant at the top?).
3) improve security (not possible when you find police is even corrupt right?)
4) Make Malaysia's land as small as Singapore! :tongue3:
Short of the above, Malaysia property price got no hope of long-term appreciation. Every thing is fake. Iskandar? Many people forgot the Waterfront city JB tried to build near the Woodlands Causeway. Now is dead town! Let's see: Iskandar can make it? :banghead:
Not sure about Bangkok. Somebody else can advise you? :cheers1:
How about property in Bangkok? Thinking of spending a few months as it has lower cost of living when I want to retire.
How about property in Bangkok? Thinking of spending a few months as it has lower cost of living when I want to retire.
air quality is bad
I only know traffic jam very bad especially peak hours.
Now got bad flooding?
Last time thought very peaceful, until recently all the mass protests and protestors (including journalists) got killed by snipers / police / etc. Then I no longer think safe anymore.
Many people are still speculating how long can Thaksin's sister last before the military topple her? Don't feel safe leh.
air quality is bad
Where is the next best place to retire?
I only know traffic jam very bad especially peak hours.
Now got bad flooding?
Last time thought very peaceful, until recently all the mass protests and protestors (including journalists) got killed by snipers / police / etc. Then I no longer think safe anymore.
Many people are still speculating how long can Thaksin's sister last before the military topple her? Don't feel safe leh.
Got money I sure stay-put in Singapore. :D
Where is the next best place to retire?
Got money I sure stay-put in Singapore. :DNo money then how?
:doh: Don't know how.
May be need to cow-pay cow-bull, street protest no money to buy food lor! Ask gov to bring up the price of property so that can sell property and cash out the money to spend. When there are more old people than young people, then old people will win because got more votes to vote them out lor if they don't comply! (just like recently they come out with CM5 trying to please the younger ones by bringing down the property price). :p
No money then how?
I have put in depth thought for a great place to retire.
My definition of great place in order of priority:
1. affordability in term of housing, good car, and daily expenses
2. quality of life
3. safety and security
4. good and reasonable cost medical care, preferably can claim under one of the CPF schemes
5. good food, good massage, good gym
6. not too far from home
I finally taken Penang as it meets almost all my criteria.
Under Make Malaysia your Second Home scheme, a brand new BMW523 series is less than S$100,000. An unblock seaview high end quality condo is only at M$700 (can be as high as M$1400 as well, depends on project).
U need to go to the place a few time to make up your mind, is it the place that u like? do u think u can make new friends there?
Other questions include : ru making it first home or second home?
You can drive to Thailand places of interest for holiday.
what is the difference in monthly installments between the ex-PC and your current HDB?
My 5 room flat is fully paid for, as the proceed from my 2BR sales managed to cover most of them (inclusive of my current CPF amount).
Just browsed the earlier pages of this thread and realised there were some discussion on BKK, Iskandar, JB, KL and Penang. I have spent a lot of time in analysing these locations for investment purposes. Just to sum up a few
1. Political aspect
This is the fundamental to all investments and it is even more critical than economy growth.
Thailand : all parties are busy with their election. No one know whether they will be in the chair next term, as such, most of the policy decisions tend to be short sighted.
BKK : extremely difficult for town planning. Flooding is going to be a recurring concern for investors. I doubt they can solve the problem within these 10 years. There are many other issuse as well.
Malaysia : for reason I pick Penang, it is in the hand of Lim, for next term as well.
Other key factors I consider before I put my monies in Penang, KL or JB and JB
1. growth
2. FDI
3. achievement of the govt projects (this is the worries for Iskandar) and long term planning
4. number of unsold properties
5. construction cost, land supply (check the size of greater KL and Iskandas)
still have a few, cannot recall off hand....
Of course, the bad is the traffic condition in Penang there...but still can take it...afterall, retirees have lot of time.
Wrote too much tonite...
if u want my research paper, buy me dinner....
Just browsed the earlier pages of this thread and realised there were some discussion on BKK, Iskandar, JB, KL and Penang. I have spent a lot of time in analysing these locations for investment purposes. Just to sum up a few
1. Political aspect
This is the fundamental to all investments and it is even more critical than economy growth.
Thailand : all parties are busy with their election. No one know whether they will be in the chair next term, as such, most of the policy decisions tend to be short sighted.
BKK : extremely difficult for town planning. Flooding is going to be a recurring concern for investors. I doubt they can solve the problem within these 10 years. There are many other issuse as well.
Malaysia : for reason I pick Penang, it is in the hand of Lim, for next term as well.
Other key factors I consider before I put my monies in Penang, KL or JB and JB
1. growth
2. FDI
3. achievement of the govt projects (this is the worries for Iskandar) and long term planning
4. number of unsold properties
5. construction cost, land supply (check the size of greater KL and Iskandas)
still have a few, cannot recall off hand....
Of course, the bad is the traffic condition in Penang there...but still can take it...afterall, retirees have lot of time.
Wrote too much tonite...
if u want my research paper, buy me dinner....
I read up elsewhere in other forums.
It seems that there is a considerable number of Singaporean who have had their 2nd homes there. It is very tempting given the size and space over there, as well as the so-called affordable lifestyle across the causeway.
What really deters me now is probably the hassle of travelling and I do not rule myself and my family out of the relocating equation if the hindrance becomes less evident in years to come; Iskandar is to integrate well with Singapore with MRT infrastructure and other projects on hand.
I am just seeking for an affordable quality lifestyle, which I probably might be missing out in Singapore as of now.
I read up elsewhere in other forums.
It seems that there is a considerable number of Singaporean who have had their 2nd homes there. It is very tempting given the size and space over there, as well as the so-called affordable lifestyle across the causeway.
What really deters me now is probably the hassle of travelling and I do not rule myself and my family out of the relocating equation if the hindrance becomes less evident in years to come; Iskandar is to integrate well with Singapore with MRT infrastructure and other projects on hand.
I am just seeking for an affordable quality lifestyle, which I probably might be missing out in Singapore as of now.
知足常乐 :sleep:
Lol, buying more singapore properties also not enough bullets, definitely don't feel missing any boat in Malaysia for past 3-4 years.
You may be right on some Malaysia properties. In Singapore for the past 4year, close both eye also make in property at any part of Singapore.
As for iskander, It is too early to buy into the idea now, no one can be sure of its success, given Malaysia track records.
Even Robert Kuok quit Malaysia.. Something is not right..
Robert Kuok moved part of his empire out from Malaysia but he is still heavily invested there.
Anyway, for someone like Robert to be seen as moving out, our own PM Lee is right now in Putrajaya with PM Najib to talk about more cooperation on Iskandar JB. You can expect good news very soon.
Anyway there will inevitably be supporters and detractors on JB, the proverbial "dangerous zone"... to each his own... time will tell.
:47:
Think we have said enough about Malaysia, so buyers beware!
I always say, if you want Malaysia to make it, a few ways:
1) Chinese take over govt (not possible right?)
2) tackle corruption from the ground level (not possible right since corruption is rampant at the top?).
3) improve security (not possible when you find police is even corrupt right?)
4) Make Malaysia's land as small as Singapore! :tongue3:
Short of the above, Malaysia property price got no hope of long-term appreciation. Every thing is fake. Iskandar? Many people forgot the Waterfront city JB tried to build near the Woodlands Causeway. Now is dead town! Let's see: Iskandar can make it? :banghead:
By the time you suddenly discover that JB has "make it", it would be way too late. :D
:47:
Oh, btw, I should explain myself - I am only positive about NUSAJAYA, which is just a small part of Iskandar Malaysia.
Iskandar is 3 times the size of Singapore... whereas Nusajaya is one-eigth the size of Singapore, and herein lies the promised land... :D
:47:
I can give it another 30 years and the property price for the property anybody bought there will still not make it! :beats-me-man:
By the time you suddenly discover that JB has "make it", it would be way too late. :D
:47:
Oh, btw, I should explain myself - I am only positive about NUSAJAYA, which is just a small part of Iskandar Malaysia.
Iskandar is 3 times the size of Singapore... whereas Nusajaya is one-eigth the size of Singapore, and herein lies the promised land... :D
:47:
Interesting. What is special about nusajaya?
I second the Penang idea. But no time to shop around there.
Interesting. What is special about nusajaya?
http://www.nusajayacity.com/sdev_residential.php
http://www.iskandarmalaysia.com.my/flagship-b-nusajaya
http://www.irda.com.my/
:47:
I can give it another 30 years and the property price for the property anybody bought there will still not make it! :beats-me-man:
haha, teddybear, you're so cute... cheers!
:47:
http://www.eastledang.com/
Any comments on this one? :beats-me-man:
The thing with land abundant Johor is you can't tell if they will do up a new nusajaya 10 years don't from now.
The thing with land abundant Johor is you can't tell if they will do up a new nusajaya 10 years don't from now.
Bro, there'll be lesser and lesser PRIME land next to Singapore in 10 years time...
Aiya, why I bother to promote Nusajaya, I have properties in Singapore too but I'm invested there in Nusajaya, just in case!
Forget about Penang, Bangkok, etc for retirement lar... I also thought about it before... If your base is still Spore, then JB is just a short drive away and you can come back to Spore any moment or for retirees, your kids can drive in to visit you anytime.
Anyway, you guys go and see for yourselves la, lest people think I salesguy from Nusajaya!... it is just 15mins from Woodlands or 15mins from Tuas, highway all the way!
Peace!
:47:
http://www.eastledang.com/
Any comments on this one? :beats-me-man:
One of the best residential projects - fully SOLD except I think for bungalow lots? Not sure...
I prefer Horizon Hills though.
http://horizonhills.com.my/
Cheers!
:47:
I frequent Johor and I prefer the other side of Johor, the about an hour east of nusajaya. Blend in and live like a local. House is half the price there than nusajaya.
How about this one? Directly opposite sembawang.
http://www.senibongcove.my/en/
For Iskandar, it is not big, but huge. HUGE. Even there is an inflow of RM77.8 billion investment commitments since its launch in 2006, I would rather wait to see if it results in a thriving economy before investing. I am willing to pay a premium for being prudent as I doubt on the delivery and sustainability.
The only good for me to invest in there is, I am able to buy land at a price of M$60psf and build my dream house. But life style is far more than just a big house.
I surveyed Iskandar a few times, and found that it cannot offer the life style I wish to have.
some good neweletters for your reading
http://www.malaysiapropertyinc.com/downloads.htm[/font]
It matters not how much money is pumped into the project but the stability of the country, both economically as well as politically that matters to investors. I'm also concerned about how Chinese are treated in Malaysia or in that part of Malaysia too. Heard several horror stories too about their treatment of Chinese... ;)
It matters not how much money is pumped into the project but the stability of the country, both economically as well as politically that matters to investors. I'm also concerned about how Chinese are treated in Malaysia or in that part of Malaysia too. Heard several horror stories too about their treatment of Chinese... ;)
yes, u got it
if u read my post #201, I place political issue as top of any investment decision and that is why, Penang is the top spot for Malaysia..it is in the hand of Chinese..
Ok so Singapore still better...even though for the price of a bto u can get a luxurious FH landed there. :p
How about property in Bangkok? Thinking of spending a few months as it has lower cost of living when I want to retire.
better to be a tenant there, more sabai :sleep: . Spend 3 mths each in ChiangMai, Bkk, Phuket, Koh Samui. :cheers1:
Its funny to see some comments here on JB and the risks perceived, whether rightly or wrongly. For sure, there is a lot of negative perception and past history has not been exactly promising as well.
Well, to each his own, just wanted to point out that there is an alternative to "afford-able" living, just 15mins across the border.
Do you "invest" for own retirement there or for rental income or for capital appreciation or whatever?... How feasible and how viable it is, you have to make your own judgement and conclusion based on your own circumstances, I'm not here to try to change your minds (some will die die stick to their set thinking!) :D
I just (try to) follow where the smart money is moving.
Apologies to TS for hijacking the thread... so lets get back to "afford-able" in Singapore instead... if there is still such a prospect available (ok, maybe if you're a mini-star, salary cuts notwithstanding)...
Nuff said, cheers!
:47:
More confidence to buy Iskandar property for investment/retirement?
»*KL, S'pore to expand links in Iskandar Straits Times: Fri, Jan 06
PUTRAJAYA: Singapore and Malaysia are poised to broaden the scope of their cooperation in Iskandar Malaysia with Prime Minister Lee Hsien Loong's proposal to explore industrial cooperation.
Meeting here yesterday for a leaders' retreat, PM Lee and Malaysia's Prime Minister Najib Razak agreed that a new work group be set up under the Joint Ministerial Committee for Iskandar.
The work group will promote the 'twinning of economic activities' between Singapore and Iskandar, a large development region in south Johor, the two countries said in a joint statement.
Building on the momentum of good ties, the two leaders also discussed ways to strengthen cooperation in a range of areas, such as transport links, immigration, tourism and the environment.
They expressed satisfaction with the progress of Temasek Holdings and Khazanah Nasional Bhd's joint real estate developments in Singapore and Johor.
These are a $11 billion project to develop six parcels of land in Marina South and the Ophir-Rochor area, and a RM3 billion (S$1.23 billion) iconic wellness project in Iskandar.
The projects are linked to a landmark land swop deal involving former Malayan Railway land in Singapore. The broad outlines of that deal were first drawn up during Mr Lee and Datuk Seri Najib's retreat in Singapore in May 2010.
Yesterday, at a joint press conference that followed the prime ministers' four-eyes meeting and a delegation meeting involving some 20 Cabinet ministers from both sides, Mr Lee said: 'We are happy with this progress because, first, it clears old agenda which has been outstanding for a long time; and second, it sets the basis for us to move forward and to develop our bilateral relationship.'
S'pore 'open' to buying electricity from KL
Mr Lee stressed that it is very much in Singapore's interest that Iskandar Malaysia prospers. 'Then we have a broad base of prosperity, vitality, activity and mutual interest,' he said, one that is 'self-sustaining and holds its own in a very competitive world'.
Mr Najib said the 'synergistic development' in Iskandar, with southern Johor serving as a hinterland for Singapore, has been shown to be 'very workable'.
'That concept has been given very strong support by the settlement of the POA as well as the commitment between the two governments that we should collaborate and work closely together so that we can push for mutually beneficial projects to be implemented on both sides of the Causeway,' he said.
The Points of Agreement, or POA, was an agreement signed in 1990 on railway land which remained a bone of contention until its resolution recently.
On Singapore's proposal for industrial cooperation in Iskandar Malaysia, Mr Lee explained that while manufacturing is an important part of Singapore's economy, it faces constraints in space and manpower.
Both are in greater abundance in Iskandar Malaysia, Mr Lee observed.
If Iskandar can develop the infrastructure needed to take in part of the manufacturing projects which Singapore cannot fully accommodate, both countries can work together.
Johor will gain not just from the projects themselves but from the spin-offs in sectors such as logistics, in jobs created, in people moving to Iskandar and the schools, hospitals and other services that they will need.
In a joint statement, the two prime ministers also expressed satisfaction with the smooth handover of the waterworks under the 1961 Water Agreement by Singapore free of charge and in good working order to the Johor water authorities, following the expiry of the agreement last August. The statement noted that both countries affirmed the terms of the 1962 Water Agreement, under which Singapore is given the full and exclusive right to draw up to 250 million gallons of water per day from the Johor River until 2061.
Both leaders commended the water authorities on both sides for their excellent working relationship and took note of the importance of implementing the necessary measures to ensure reliable water supply, as provided for under the 1962 Water Agreement.
In their meeting, the two leaders also discussed the possibility of Singapore buying electricity from Malaysia, an idea that was raised by Mr Najib.
Mr Lee said Singapore is open to importing a share of its electricity, if the terms are right.
It is in the process of drawing up a proper framework for electricity deals. Once that is ready, Singapore welcomes Malaysian companies to participate in bids to supply electricity to the Republic, Mr Lee said.
He also noted that companies involved in such supply must meet environmental impact standards as the burning of fossil fuels can have cross-border implications.
After the morning's meetings, the prime ministers and their delegations adjourned to Seri Perdana, Mr Najib's residence in Putrajaya, for lunch.
The meal ended with a feast of Malaysian fruit that included, of course, durian.
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(From left) Malaysian Transport Minister Kong Cho Ha, Transport Minister Lui Tuck Yew, Defence Minister Ng Eng Hen, Khazanah Nasional managing director Azman Hj Mokhtar, Prime Minister Lee Hsien Loong, Malaysian Prime Minister Najib Razak, Deputy Prime Minister Teo Chee Hean, Information, Communications and the Arts Minister Yaacob Ibrahim, Foreign Minister K. Shanmugam, Environment and Water Resources Minister Vivian Balakrishnan, and National Development Minister Khaw Boon Wan viewing a model for a wellness project in Iskandar Malaysia at Perdana Putra building yesterday.
Source: The Straits Times © Singapore Press Holdings Ltd. Reprinted with permission.
It could be a replication of Batam industrial park concept whereby the HQs are in Singapore and satellite manufacturing facilities are in JB. However note that the target is to tap the low labour cost and land. Hence it is unlikely for the locals to afford the high-end houses that Singapore investors are trying to invest in.
The Malaysian workers need not come over to Singapore to work, can work in Singapore factories there.....
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