View Full Version : Advice needed.
Hi, seeking some advice here as I'm looking to buy a property for own stay n renting out some of the rooms, probably buying year end. I have around 200k cash on hand, and around 15k emergency cash lock up with endowment. CPf already used up for first property (LH) n looking to pay up end of the year or by next year using CPf plus around 30k cash. I'm able to generate 2.2k to 2.4k per month (conservative calculation). Question is, benefit of buying resale or new project? Lh or FH? 3 or 2bdrm? Looking forward to hear some useful advice here. Thanks.
Hi, seeking some advice here as I'm looking to buy a property for own stay n renting out some of the rooms, probably buying year end. I have around 200k cash on hand, and around 15k emergency cash lock up with endowment. CPf already used up for first property (LH) n looking to pay up end of the year or by next year using CPf plus around 30k cash. I'm able to generate 2.2k to 2.4k per month (conservative calculation). Question is, benefit of buying resale or new project? Lh or FH? 3 or 2bdrm? Looking forward to hear some useful advice here. Thanks.
Your first property will be fully paid? What's your household income?
Yes. First apartment will be fully paid, aiming this year or next year. Salary very low, quite embrassing to reveal. Haha. But 700k loan shouldn't be an issue as I do not have any existing loan other than mortgage.
Yes. First apartment will be fully paid, aiming this year or next year. Salary very low, quite embrassing to reveal. Haha. But 700k loan shouldn't be an issue as I do not have any existing loan other than mortgage.
I cannot advise you as I am no expert. I am just curious, how much did you pay for your 1st apartment? How old is the apartment now? Care to share more?
Lol. That's not the point here.
assuming your current apartment is hdb...your next property should go for FH condo/landed
but the property price right now is too sky high..:scared-3:
short-term wise, i will build up bullets(money) first and wait for a correction...then enter to get a good bargain later on... ;)
and do note that interest rate will be increase by the time correction step in..
so, make sure you have do sufficient homework when taking loan:D
Good Friday so try to do more good deeds and kaypo a bit here teeheehee....
Given your situation, if I were you I would first buy myself a nice dinner to congratulate on fully paying off first house (when that happens). But after that I will not make any move.
I would build up my reserves able to last me at least 6 months of expenses. Are you sure 15k is enough for you? Esp it is locked up somewhere... and not so liquid.
Once that is achieved, then by then market should have corrected bit more, can look for good yielding property to generate the desired income. Your expected income of 2.5k can be easily generated with good location MM around 600-700k. For larger units, if budget is tight you need to go for older projects with proven yield and clientele segment. Look at it purely from investment standpoint and don't let your personal preferences or prejudices cloud the judgement. *last point very important and not easy to achieve*
I'm curious though, with super low income, how do you get a 700k bank loan? You seem confident about it... care to share the secret? Spouse working in bank? You Ex Director of bank? Major shareholder? Wat...?
No lah, it's not. Under my name only. Am just afraid of any cooling measure coming again n whether market will correct it's a question mark still.
No lah, it's not. Under my name only. Am just afraid of any cooling measure coming again n whether market will correct it's a question mark still.
Market is confirm coming down. All info points to that. It HAS TO happen. Definitely before the next GE. Else many heads will roll and we have bigger problems of political instability to worry about other than property... by then our mind will not be thinking about property any more.
No lah, it's not. Under my name only. Am just afraid of any cooling measure coming again n whether market will correct it's a question mark still.
mr tharman said wait a little bit...so if u believe him..then wait...maybe end this year maybe next....:cool:
But if suddenly for strange reason maybe kena lightning strike Sky Habitat launch 1200psf I suggest you no need to think faster grab....... LOL!!!!!!!!
Good Friday so try to do more good deeds and kaypo a bit here teeheehee....
Given your situation, if I were you I would first buy myself a nice dinner to congratulate on fully paying off first house (when that happens). But after that I will not make any move.
I would build up my reserves able to last me at least 6 months of expenses. Are you sure 15k is enough for you? Esp it is locked up somewhere... and not so liquid.
Once that is achieved, then by then market should have corrected bit more, can look for good yielding property to generate the desired income. Your expected income of 2.5k can be easily generated with good location MM around 600-700k. For larger units, if budget is tight you need to go for older projects with proven yield and clientele segment. Look at it purely from investment standpoint and don't let your personal preferences or prejudices cloud the judgement. *last point very important and not easy to achieve*
I'm curious though, with super low income, how do you get a 700k bank loan? You seem confident about it... care to share the secret? Spouse working in bank? You Ex Director of bank? Major shareholder? Wat...? My one month expenditure is around 2k to 2.5k including insurance, bills, nice dinner, shopping etc. As for the 15k is fairly liquid as i can just storm down to the insurance complany n they have to pay me in 30 days. As for salary, my expectation for low can be your high, n your expectation for high can be my low. :rolleyes:
My one month expenditure is around 2k to 2.5k including insurance, bills, nice dinner, shopping etc. As for the 15k is fairly liquid as i can just storm down to the insurance complany n they have to pay me in 30 days. As for salary, my expectation for low can be your high, n your expectation for high can be my low. :rolleyes:
It will be good if you can share your rough figure for your income. If you hide here and there, any form of advices, opinions and suggestions are invalid.
Based on the info, I am sceptical you can afford it. You need to do your sum properly. You have a very tight finances after buying. Usually, emergency fund is about 8-10 mths of your pay. All the best
:)
Commission 100k plus. so? Some banks don't take commission into consideration. Why do I want to take the risk of facing a lower mortgage approved amount? I already said I'm looking to take 700 k loan n passive income of min 2k plus per month. What does it have to do whether or not to reveal my income Since I already know that loan of 700k is not an issue? Rental income earned will be up to 70% added to the monthly income.
Based on the info, I am sceptical you can afford it. You need to do your sum properly. You have a very tight finances after buying. Usually, emergency fund is about 8-10 mths of your pay. All the best
:)
Thanks. I also think that I can't afford afford a property. :rolleyes:
Sounds like you are a property agent who just struck a big deal.
Repeat what you did 10x then no need to care about bank loan liao... pay in full ca$h......
No lah. Working in bank. But, that's not the point.
No lah. Working in bank. But, that's not the point.
Yep. Just make sure you comfortable with your reserves, settled liao then think of hunting ....... like that the hunt also more shiok haha
Gonna play devil's advocate a bit... no risk no gain... if always wait for reserve to stock up before entering the market becoz fearful of uncertainties, then only the rich who's earning $30k/mth can buy properties lor... use $10k save $20k. Can buy within 1 year. Rather, its more about proper planning and timing your entry well.
You have $200k reserve. Not sure how much you have left for your current mortgage loan. You must decide if you want to finish payment of your current house or to pay 40% downpayment for next house. If you have outstanding $60k loan, it'll be wiser to pay up before committing to new house coz you will then qualify for 80% LTV unless your outstanding loan is > 20% of new house.
Scenario A: Pay up current mortgage loan...
1. After paying up your current loan, your cpf is crippled. You cannot use cpf for 2nd or subsequent house loan unless you have at least $67 500 in your ordinary and special account combined. Therefore, you must ensure that you have sufficient funds before you can use your cpf for monthly servicing of loan. This figure changes yearly.
2. After paying up your current loan, you probably only have $150k cash or less (assuming you clear up your cpf ordinary account). You probably can only look at less than new launches @ $650k quantum. (20% of $650k = $130k). And you have v little left ($20k) for stamp duty and renovation. Extremely tight! This price of $650k can at best get you a 2 bedder in OCR (nothing bigger). If you are looking for FH, its probably a small studio with some cash to spare.
3. No rental income yet coz you are waiting for your new launch to be ready. So you cannot tap on extra cash. Its only cash out cash out cash out. Not sure if your family can support that for now.
Scenario B: Don't pay up current mortgage loan...
1. Use your cpf to continue servicing your current mortgage loan so no concern there. Just rent your current unit out and start getting rental income. If you buy new launch, then rental income starts after TOP of new launch. If you buy resale, rental income starts almost immediately.
2. Available cash of $200k allows you to only get MM units (studio) of $450k (coz you are paying 40% downpayment with spare cash for reno and stamp duty). (40% of $450k = $180K)Currently very very few studio resale or new launch cost $450k or less. Then use your $20k + $15K spare for stamp duty plus reno.
3. Even if you qualify for $700k loan, its useless. If $700k is 60% LTV, then you will need some $450k as downpayment (40% LTV). The govt has basically raised the requirements to enter the property market.
Scenario C: Wait and see...
1. Wait and see what happens in 2013 and beyond until prices fall to reasonable level for you to enter the market.
2. Take your $200k cash and make a short term investment (just in case market suddenly takes a sharp plunge and you have no ammunition). While waiting for market to undergo correction, you can stock up even more!
Summing up, senario B is highly unlikely simply because of the 40% LTV. You have to decide the urgency of moving vs waiting as well as your risk appetite. Only you can answer the question. This is not an expert talking... just sharing my 2 cents worth with my limited understanding of your situation.... All the best! :cheers5:
Sigh. Yes, my passive income is 30k pa only. But my annual income is slightly more than 150k pa. 200k is what I have now, excluding what I will be earning now till I purchase my 2nd unit, unless I were to lose my job. Max cash use to pay first unit dp is 30k, including legal fees for this year only. If next year, I don't even have to touch any cash.
based on what you are saying seems like you are staying alone in your current house or with spouse. i am assuming here that your parents, in law are not staying with you and you have ard 2 years before expecting any children.
The only reason why i am suggesting this is because your first property installment is almost fully paid up.
what you can look to do now is get a resale MM, move out and stay there with your wife. rent out your first property for additional cash flow supply.
that way you can secure another asset (although small unit) and at the same time take conservative amount of risk (which can be managed by your savings, monthly pay as well as the additional income from 1st property rental).
your downside risk is a general risk if global economy turns bad (which will hit everyone), and if you are unable to tenant out your 1st property.
Single, no bf. U got any recommendation? Lol. Maybe u give me another 5 years to settle down?:D have already moved back home. First property can lelong out for cheap rental, that's y i said min 2.2k but not 3.5k. I am not making any losses at all.
buttercarp
06-04-12, 15:42
Single, no bf. U got any recommendation? Lol. Maybe u give me another 5 years to
settle down?:D
have already moved back home. First property can lelong out for cheap rental,
that's y i said min 2.2k but not 3.5k. I am not making any losses at all.
Yes. First apartment will be fully paid, aiming this year or next year. Salary very low, quite embrassing to reveal. Haha. But 700k loan shouldn't be an issue as I do not have any existing loan other than mortgage.
Sigh. Yes, my passive income is 30k pa only. But my annual income is slightly more than 150k pa. 200k is what I have now, excluding what I will be earning now till I purchase my 2nd unit, unless I were to lose my job. Max cash use to pay first unit dp is 30k, including legal fees for this year only. If next year, I don't even have to touch any cash.
You are single and you call this income embarrassing?:doh:
You are single and you call this income embarrassing?:doh:
I do not take commission into consideration. N salary is subjective. Anyway, I planned at a very young age.
buttercarp
06-04-12, 15:46
I do not take commission into consideration.
OMG..... means you earn more!:cheers4:
Anyway, this thread is not to discuss on my pay.
Anyway, this thread is not to discuss on my pay.
If I am still single, I will buaya you and have an easier time then.
I work in bank back end operation but my annual is way behind you.
Single, no bf. U got any recommendation? Lol. Maybe u give me another 5 years to settle down?:D have already moved back home. First property can lelong out for cheap rental, that's y i said min 2.2k but not 3.5k. I am not making any losses at all.
must die die and buy now meh?
the price for property is so hot :simmering::simmering:
If I am still single, I will buaya you and have an easier time then.
I work in bank back end operation but my annual is way behind you.
me just 1 yr older than ts & still single also .. got chance :D:D
must die die and buy now meh?
the price for property is so hot :simmering::simmering:
me just 1 yr older than ts & still single also .. got chance :D:D must plan earlier mah, must really wait till property crash then do research meh? Aiyo.... Don't anyhow guess my age lah. 83 can means 8th march
must die die and buy now meh?
the price for property is so hot :simmering::simmering:
me just 1 yr older than ts & still single also .. got chance :D:D
I need a sugar sister or lover. Could you kindly gracious enough to pass me the chance instead?
must plan earlier mah, must really wait till property crash then do research meh? Aiyo.... Don't anyhow guess my age lah. 83 can means 8th march
No one is buying now except kamikaze...
easy.. just look out for gals named estella born in 1983..
or try to type Facebook for that name...
try luck try luck advise..:D
Wow if ur 1983 that's impressive! 4 years older and u have fully paid up ur first! I think buying now is ok, just buy thr right ones :D
:cheers5:
Time is on ur side.
8th march leh. Alamak. Anyway, this nick is so common many forum already have this nick. :mad:
I think I know you... Your first property almost paid up is Estella Gardens 99LH right
I think I know you... Your first property almost paid up is Estella Gardens 99LH right
that's FH..
8th march leh. Alamak. Anyway, this nick is so common many forum already have this nick. :mad:
...........三八妇女节？？:D
buttercarp
06-04-12, 16:21
I need a sugar sister or lover. Could you kindly gracious enough to pass me the chance instead?
I tot u married oredi?
I think I know you... Your first property almost paid up is Estella Gardens 99LH right
Ya, got shuttle bus one. No lah. It's already out of topic. :tongue3:
Ya, got shuttle bus one. No lah. It's already out of topic. :tongue3:
Wow, seems like so many people are interested in you leh.:cheers4: They are all humorous and friendly bros/sis.
You are in a good position.. resist the temptation to commit now and wait out for at least half a year... maybe even a year. It's not as if you lack a roof over your head. Since it is for investment, you have to watch the timing carefully and ask yourself what is the upside at current prices.
During this time accumulate more savings to put down for a pricier apartment. With your youth and income, you can afford to go into higher gearing.
IMHO
Sigh. Yes, my passive income is 30k pa only. But my annual income is slightly more than 150k pa. 200k is what I have now, excluding what I will be earning now till I purchase my 2nd unit, unless I were to lose my job. Max cash use to pay first unit dp is 30k, including legal fees for this year only. If next year, I don't even have to touch any cash.
2012 Property Prices Outlook: It's all downhill from here
Private residentials are too expensive now for what homebuyers are willing to pay which will lead to a 5% yearly dip, says Colliers.
The high-end market is experiencing a sales drought which should persist as purchasers look for more value deals, and even in the mass-market segment where such bargains can be found, the influx of new supply will still push prices down.
Overall, the 2012 property prices will suffer from a gradual easing with the government letting the current cooling measures drag down the price index to more reasonable levels.
"With prices exceeding historical peaks, homebuyers have become increasingly resistant towards further price growth. Coupled with the continued injection of land supply for the development of private residential projects, Executive Condominiums and more public housing from planned Build-To-Order flats, a buyers’ market with increased options may eventually emerge," said Ms Chia Siew Chuin, Director of Research & Advisory, Colliers International.
"Additionally, while the low interest rate environment could support home buying in 2012, particularly in the primary market, the slow resale market will continue to put a drag on prices. The high-end/luxury market, which is already languishing in slow sales activity, is also expected to see further price falls as prospective buyers continue to hold back on their purchases. In the mass-market segment, demand will continue to be somewhat supply driven. However, with increasing supply and options available, the potential price growth for mass-market homes will be minimised," she said.
You are in a good position.. resist the temptation to commit now and wait out for at least half a year... maybe even a year. It's not as if you lack a roof over your head. Since it is for investment, you have to watch the timing carefully and ask yourself what is the upside at current prices.
During this time accumulate more savings to put down for a pricier apartment. With your youth and income, you can afford to go into higher gearing.
IMHO
Agree:) i recommend the same. Unless u have the luck to find a seller in distress
Just in case you missed this earlier post...
Gonna play devil's advocate a bit... no risk no gain... if always wait for reserve to stock up before entering the market becoz fearful of uncertainties, then only the rich who's earning $30k/mth can buy properties lor... use $10k save $20k. Can buy within 1 year. Rather, its more about proper planning and timing your entry well.
You have $200k reserve. Not sure how much you have left for your current mortgage loan. You must decide if you want to finish payment of your current house or to pay 40% downpayment for next house. If you have outstanding $60k loan, it'll be wiser to pay up before committing to new house coz you will then qualify for 80% LTV unless your outstanding loan is > 20% of new house.
Scenario A: Pay up current mortgage loan...
1. After paying up your current loan, your cpf is crippled. You cannot use cpf for 2nd or subsequent house loan unless you have at least $67 500 in your ordinary and special account combined. Therefore, you must ensure that you have sufficient funds before you can use your cpf for monthly servicing of loan. This figure changes yearly.
2. After paying up your current loan, you probably only have $150k cash or less (assuming you clear up your cpf ordinary account). You probably can only look at less than new launches @ $650k quantum. (20% of $650k = $130k). And you have v little left ($20k) for stamp duty and renovation. Extremely tight! This price of $650k can at best get you a 2 bedder in OCR (nothing bigger). If you are looking for FH, its probably a small studio with some cash to spare.
3. No rental income yet coz you are waiting for your new launch to be ready. So you cannot tap on extra cash. Its only cash out cash out cash out. Not sure if your family can support that for now.
Scenario B: Don't pay up current mortgage loan...
1. Use your cpf to continue servicing your current mortgage loan so no concern there. Just rent your current unit out and start getting rental income. If you buy new launch, then rental income starts after TOP of new launch. If you buy resale, rental income starts almost immediately.
2. Available cash of $200k allows you to only get MM units (studio) of $450k (coz you are paying 40% downpayment with spare cash for reno and stamp duty). (40% of $450k = $180K)Currently very very few studio resale or new launch cost $450k or less. Then use your $20k + $15K spare for stamp duty plus reno.
3. Even if you qualify for $700k loan, its useless. If $700k is 60% LTV, then you will need some $450k as downpayment (40% LTV). The govt has basically raised the requirements to enter the property market.
Scenario C: Wait and see...
1. Wait and see what happens in 2013 and beyond until prices fall to reasonable level for you to enter the market.
2. Take your $200k cash and make a short term investment (just in case market suddenly takes a sharp plunge and you have no ammunition). While waiting for market to undergo correction, you can stock up even more!
Summing up, senario B is highly unlikely simply because of the 40% LTV. You have to decide the urgency of moving vs waiting as well as your risk appetite. Only you can answer the question. This is not an expert talking... just sharing my 2 cents worth with my limited understanding of your situation.... All the best! :cheers5:
Bro ysyap... You power sia your advice also can ctrl c ctrl v.... Lol
Wow, seems like so many people are interested in you leh.:cheers4: They are all humorous and friendly bros/sis.
Got sis interested in her? Eh....
Aiya now only good to invest in stocks...
I was 25 when I earned the same salary as you but got into some property which left me scarred till today only can breakeven. Go figure.
Invest in stocks now - i think will get scarred :scared-3:
At least stocks can run in time mah. Now STI is far from peak.
Property u sure stuck for at least 3-4 years!
At least stocks can run in time mah. Now STI is far from peak.
Property u sure stuck for at least 3-4 years!
US job mkt is doing badly in mar. B careful.
US job mkt is doing badly in mar. B careful.
Ok :)
Don't worry QE3 is backing us up
Ok :)
Don't worry QE3 is backing us up
Additional QE is having lesser impact. Hundred Trees sub sales r doing v well. U had sold too early.
Bro ysyap... You power sia your advice also can ctrl c ctrl v.... Lol
quite a good template ! :D:D:D
Hi, seeking some advice here as I'm looking to buy a property for own stay n renting out some of the rooms, probably buying year end. I have around 200k cash on hand, and around 15k emergency cash lock up with endowment. CPf already used up for first property (LH) n looking to pay up end of the year or by next year using CPf plus around 30k cash. I'm able to generate 2.2k to 2.4k per month (conservative calculation). Question is, benefit of buying resale or new project? Lh or FH? 3 or 2bdrm? Looking forward to hear some useful advice here. Thanks.
a lot of gurus said, timing very impt... if buy later means pay lesser and take smaller loan, then it means more huat-ah! :D
however, if timing cannot wait, then must have solid solid strategy which is not easy to achieve.... :tongue3:
some gurus say, make sure got ready tenants that can give good yield to support long term mortgage payment. why leh? Becoz as long as can pay monthly mortgage and not over-stretched, in theory, the banks *should* just leave the loan alone until it's fully paid off... just theory only hor and also depends on case-by-case basis of individual finance situation... confirm? how i know? :beats-me-man:
then, the next question is how to get ready tenants? most effortless way is to buy with tenancy and this is also the highest risk. Why? Because hor, the tenant might turn out to be nightmare.... more of a judgement call. Hee... ;)
another much more tedious way is to target the type of tenant you want first and then zoom into the district, apartment type and amount of rent that is reasonable which will provide the type of yield above.... it's not an easy job, a fair amount of leg-work and thick-skinned asking would be required... :cheers6:
for an example, an agent share with me last time, around Joo Chiat area, district 15, for a financial *single* expat who works in cbd area (can stretch up to suntec), can afford about 3k of rent for 1-2 bedroom apt/condo for fairly new projects.... so based on the above, you can agar agar count how much to pay for what type of apt/condo that can lead to the targeted yield.... *single-hood* is important in this case, because Joo Chiat can be a little too sleazy for some folks... :rolleyes: :cool:
oh ya, from my past kpo viewings so far, if got choice, i would go for professionals who can afford the whole unit, rather than mid-salary workers who can just afford to rent room. why leh? i've seen some 'shared' unit, which is rather untidy in common areas like kitchen, living rooms and common toilet... worse still if they're students, the place might look like "war zone"... :eek: :doh:
by the way, my gut feeling is that the housing price will not go down drastically in Singapore in the near future because of low interest rates environment (led by US-FED which some Ben guy hinted that rate will be almost 0 until end of 2014, right?)... also hor, the "invisible hands" do not really want to see the property value go down a lot...
for commercial interests, the banks/financial institutes dun like to see that happen becoz if need to write down asset values, it will directly impact their books and shareholders will be acting like angry birds want to shoot at the pigs -> CEO/CIO/CFO/CxOs... :D
for political interest, it's a cornerstone strategy in Singapore... if property value goes down a lot, the complain will worsen because Home Ownership Rate* is 88.6%... imagine the unhappiness of 88.6% of the population.... :simmering: :tsk-tsk:
just my :2cents:
* - figure quoted from website below, as of 2011 stats:
http://www.singstat.gov.sg/stats/keyind.html
Additional QE is having lesser impact. Hundred Trees sub sales r doing v well. U had sold too early.
100 trees :doh: could have net 500k more for both my 2bedders
OMG.........:doh:
I need a sugar sister or lover. Could you kindly gracious enough to pass me the chance instead?
Invest in stocks now - i think will get scarred :scared-3:
Ya lor, my spouse kenna get "burned" until VERY VERY jialat since 1 yr back, until "roasted".:scared-3: Maybe my house's fengshui no good, any recommendation for good fengshui master or not.:ashamed1: I engaged twice (different fengshui masters), but no improvement, looks like getting worst and worst like that leh.:banghead:
100 trees :doh: could have net 500k more for both my 2bedders
Has it top yet? Did you go check out the landscaping and workmanship?
shauntanzs
07-04-12, 12:38
Once that is achieved, then by then market should have corrected bit more, can look for good yielding property to generate the desired income. Your expected income of 2.5k can be easily generated with good location MM around 600-700k. For larger units, if budget is tight you need to go for older projects with proven yield and clientele segment. Look at it purely from investment standpoint and don't let your personal preferences or prejudices cloud the judgement. *last point very important and not easy to
When properties price drop, so may rental. Or an increase in interest may diminish you yield.
When properties price drop, so may rental. Or an increase in interest may diminish you yield.
Yes. Thats the risk in property investment. Probably should work out both ideal, average and worst scenarios and see if you can stomach all...
shauntanzs
07-04-12, 12:49
Anyway estalla u are in good position, dun rush. Buying high price resale with good rental yield may not be a bad things to tide over inflation if your investment horizon is long enough. Just hold on to good properties during downtown.
shauntanzs
07-04-12, 12:57
Life is in a cycle. If everyone just sit n wait to buy low, who is going to support the high price profit?
When price drop meaning economy not so good, it's hard to get tenant as well.
Although I agree to keep bullets for correction, I also believe there are still good bargains waiting to uncover.
Entry at the right point of the cycle is no doubt important but I believe in buying the hidden potential and by gut feel. Hence, recent new launches are not for me. Those are hype by developer and herd mentality buying. I am already in the radar screen of IRAS and glad they are happy with my explanation on properties. IRAS income reporting is here again and happy with the passive income even though has to share with the taxman. Tenants are realizing dream.:)
Hi, seeking some advice here as I'm looking to buy a property for own stay n renting out some of the rooms, probably buying year end. I have around 200k cash on hand, and around 15k emergency cash lock up with endowment. CPf already used up for first property (LH) n looking to pay up end of the year or by next year using CPf plus around 30k cash. I'm able to generate 2.2k to 2.4k per month (conservative calculation). Question is, benefit of buying resale or new project? Lh or FH? 3 or 2bdrm? Looking forward to hear some useful advice here. Thanks.
as a learner myself who benefitted from personal gurus, my take on this as an academic exercise is to follow ysyap's scenario c - wait and see. this is esp so as the market seems to be heating up for new launches, resales seem relatively quiet, and you got existing hdb waiting to be fully paid [though very soon].
so best time to enter may be 3 months before you finish paying your hdb. by then you can borrow 80% and the market direction is clearer. strictly there is no right time to enter the market, as you may already know. it all depends on what is your investment horizon and aim. at every time, there is always a neglected segment that you can seriously consider going into, if you dare.
being in bank and waiting abatedly to leverage on your 700k accessible loan, as well as maybe your knowledge as a ?property agent [guessing here cos several people i know took exams to standby], the wait can be unbearable.
options:
1. wait and see - buy brandnew - got to wait 3 to 4 years for returns.
2. wait and see - buy resale and renovate - lots of legwork!
3. buy subsale lh ocr - some are transacting within your budget.
lh/fh no difference cos the premium is already priced in.
2 or 3br depends on your budget and your target tenant in that area.
4. leverage on a like-minded friend and buy together [must be careful here]; though if you can think of someone, do not exclude that possibility.
too many possibilities and considerations.
just sharing some musings...
happy househunting!
Bro ysyap... You power sia your advice also can ctrl c ctrl v.... LolCtrl C Ctrl V no power lah... only gimmicky... Lol!
I think TS has fled from this thread and has stopped posting bcoz of all the creepy advances from forummers with invasive personal questions and comments.
she is doing research, i guess.. :D
no SGD 1 million no talk for a nice FH condo in a decent location nowadays.. :banghead:
:(
she is doing research, i guess.. :D
no SGD 1 million no talk for a nice FH condo in a decent location nowadays.. :banghead:
:(
typo, it should be LH...
new2mondrian
07-04-12, 23:40
Actually $200k of cash is not much these days. Why don't just hold tight to the cash, and wait out this cycle? In the meantime, you'd have accumulated more dry powder and be ready for the next downturn... And more importantly you can sleep well every night.
new2mondrian
07-04-12, 23:55
Entry at the right point of the cycle is no doubt important but I believe in buying the hidden potential and by gut feel. Hence, recent new launches are not for me. Those are hype by developer and herd mentality buying. I am already in the radar screen of IRAS and glad they are happy with my explanation on properties. IRAS income reporting is here again and happy with the passive income even though has to share with the taxman. Tenants are realizing dream.:)
Aiyoh IRAS so active these days!!! What did they do? The same as what they did to poor mcmlxxvi?
The IRAS lady is quite friendly when I spoke to her over the phone. They are just doing their job. That is why enough investment locally for now. :cool:
Aiyoh IRAS so active these days!!! What did they do? The same as what they did to poor mcmlxxvi?
The IRAS lady is quite friendly when I spoke to her over the phone. They are just doing their job. That is why enough investment locally for now. ;)
Aiyoh IRAS so active these days!!! What did they do? The same as what they did to poor mcmlxxvi?
Ya lor, my spouse kenna get "burned" until VERY VERY jialat since 1 yr back, until "roasted".:scared-3: Maybe my house's fengshui no good, any recommendation for good fengshui master or not.:ashamed1: I engaged twice (different fengshui masters), but no improvement, looks like getting worst and worst like that leh.:banghead:
I Use DIY fengshui. :D So far, it is accurate.
You just need a compass, floor plan of your house or apartment, year of completion of property, fengshui chart (i use flying star base and yearly charts), facing direction of your building, occupants year of birth and your own observation. I heard Many fengshui advisors give advice based on superstitious beliefs - that is why it is useless. I use Joey Yap's advice (books and videos can be borrowed from NLB).
I Use DIY fengshui. :D So far, it is accurate.
You just need a compass, floor plan of your house or apartment, year of completion of property, fengshui chart (i use flying star base and yearly charts), facing direction of your building, occupants year of birth and your own observation. I heard Many fengshui advisors give advice based on superstitious beliefs - that is why it is useless. I use Joey Yap's advice (books and videos can be borrowed from NLB).
wa! you are good.
mention about flying star and friends... i will headache.. lol:D
I Use DIY fengshui. :D So far, it is accurate.
You just need a compass, floor plan of your house or apartment, year of completion of property, fengshui chart (i use flying star base and yearly charts), facing direction of your building, occupants year of birth and your own observation. I heard Many fengshui advisors give advice based on superstitious beliefs - that is why it is useless. I use Joey Yap's advice (books and videos can be borrowed from NLB).
Wow, you are so good but I doubt I can understand what they are trying to say. Actually I have read quite a few books about fengshui but still "mong cha cha".:ashamed1:
Do you mind to share, after you had gathered all your information, what did you do, shift furnitures or place the fengshui accessories, how about wall colours, does it matter also. Anyway I will try to get the book and take a look, hope that I can understand.:o
I will decide how to place furniture, which rooms to use more often, which to use less often, which parts of the house i need to place certain objects to suppress negative energy or magnify positive energy. The colour or shape of the objects do not matter at all, but the size matters. E.g. A 1 litre fish tank has no impact on fengshui cos it is too small.:cheers1:
You can borrow the dvd to watch. Maybe that is easier to understand.
I will decide how to place furniture, which rooms to use more often, which to use less often, which parts of the house i need to place certain objects to suppress negative energy or magnify positive energy. The colour or shape of the objects do not matter at all, but the size matters. E.g. A 1 litre fish tank has no impact on fengshui cos it is too small.:cheers1:
You can borrow the dvd to watch. Maybe that is easier to understand.
Heng ah, at last I found this thread.
Thank you for sharing with me about your DIY fengshui. Actually, it is quite interesting to know about fengshui for additional knowledge but unfortunately, maybe my IQ is slightly below average, couldn't understand all the complicated one like numbers in the boxes or "- & =" in the "ba kuai" etc except those very direct one that tell you not to put this, not to put that, haha.
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