View Full Version : any newbie questions ??...
ikan bilis
19-05-12, 14:45
hmm... today this forum very boring,... :sleep:
any newbie condo questions/problems pls throw here so that all the old birds/lau-jiow can answer.... ;)
(disclaimer: me no old-bird here hor... just a small fish swimming around…)
wait until i got 1 million cash, at least..
then i can start shopping... :ashamed1::ashamed1:
then me will seek advices from the many gurus here :banghead::banghead:
ikan bilis
19-05-12, 14:51
wait until i got 1 million cash, at least..
then i can start shopping... :ashamed1::ashamed1:
then me will seek advices from the many gurus here :banghead::banghead:
haha... then you can ask those gurus how to acheive the very first S$1Mil in ca$h... ;)
me small fish no worth millions so cannot tell you anything... :ashamed1:
I wanted to get a condo, preferably 999 year lease or freehold. However, I have an oustanding of HDB loan of 450k approximately.
My household income is around 7k++, and I have a disposable rental income of around 2.4k. Besides, I have 2 young infant children.
I have around 100-120kSGD cash savings, and I am eagerly and actively searching for a property for my family.
The places I have been scouting are:
1. Flamingo Valley - Siglap
2. Trizon - Mt Sinai
3. Glentree - Mt Sinai
4. Ridgewood - Mt Sinai
or any possibly a good development in D15.
Please advise as I am worried I may miss the boat.
You should look at old fh resale. Not the new development.
I wanted to get a condo, preferably 999 year lease or freehold. However, I have an oustanding of HDB loan of 450k approximately.
My household income is around 7k++, and I have a disposable rental income of around 2.4k. Besides, I have 2 young infant children.
I have around 100-120kSGD cash savings, and I am eagerly and actively searching for a property for my family.
The places I have been scouting are:
1. Flamingo Valley - Siglap
2. Trizon - Mt Sinai
3. Glentree - Mt Sinai
4. Ridgewood - Mt Sinai
or any possibly a good development in D15.
Please advise as I am worried I may miss the boat.
ikan bilis
19-05-12, 15:47
I wanted to get a condo, preferably 999 year lease or freehold. However, I have an oustanding of HDB loan of 450k approximately.
My household income is around 7k++, and I have a disposable rental income of around 2.4k. Besides, I have 2 young infant children.
I have around 100-120kSGD cash savings, and I am eagerly and actively searching for a property for my family.
The places I have been scouting are:
1. Flamingo Valley - Siglap
2. Trizon - Mt Sinai
3. Glentree - Mt Sinai
4. Ridgewood - Mt Sinai
or any possibly a good development in D15.
Please advise as I am worried I may miss the boat.
bro,... with my small fish small brain knowledge...
first hor,
not fair for you to keep throwing questions to this forum... you need to answer some questions first...
- your hdb had not completed the MOP yet... how to buy 2nd pte properties ?
- still got 450K hdb loan, so 120K only enough for 300K condo (max 60% LTV for 2nd loan), how to buy FV ??..
:beats-me-man:
second hor,
by telling you this, me small fish sure kena bombarded by all the forumers here, and risk kena prosecuted by authorities... sigh.. sigh.. :scared-3: :scared-3:
- may be you can try the mainland chinese way...
- in Beijing, couple fake divorce (but still stay together) just to get around with one house per family rule...
- may be hdb can allow to leave the flat to your wife and 2-kids, without any forced acquired by hdb... after the divorce...
- you then go buy your >S$1Mil dream condo (since you said your bank could loan you up to 90%)...
hmmm.... i think other gurus here can help you better... small fish's brain not powerful enough for this question... ;)
phantom_opera
19-05-12, 15:47
haha... then you can ask those gurus how to acheive the very first S$1Mil in ca$h... ;)
me small fish no worth millions so cannot tell you anything... :ashamed1:
1. Gambling
2. HSI Call or Put options or forex or commodities or futures trading with initial capital of 100k
3. Marry a partner who has that $1mio
4. Inheritance
I am a newbie with CPF + CASH ard 450k household income 130k/year (with no outstanding loan) and find it hard to purchase a 999 or freehold under current price... I am quite doubtful with a household income of 7k++ should go for 1 now.
To purchase I don't think it would be an issue but to enjoy your life for the reamaining 20 years(prime)...I guess you will be slave to your property leh.
I am considering a Resale HDB better despite attempting to purchase one myself at the moment but everytime I think of how I would be asset rich(subjet to market condition also) and cash poor...I cannot tahan but HDB...I cannot buy now..as i got msia property under my wife's name which is still under master title and yet to be top...how to transfer name ar???
Any taikor can advise further based on their experience would be very much appreciated. 36yrs old this year...
phantom_opera
19-05-12, 16:02
I am a newbie with CPF + CASH ard 450k household income 130k/year (with no outstanding loan) and find it hard to purchase a 999 or freehold under current price... I am quite doubtful with a household income of 7k++ should go for 1 now.
To purchase I don't think it would be an issue but to enjoy your life for the reamaining 20 years(prime)...I guess you will be slave to your property leh.
I am considering a Resale HDB better despite attempting to purchase one myself at the moment but everytime I think of how I would be asset rich(subjet to market condition also) and cash poor...I cannot tahan but HDB...I cannot buy now..as i got msia property under my wife's name which is still under master title and yet to be top...how to transfer name ar???
Any taikor can advise further based on their experience would be very much appreciated. 36yrs old this year...
You are considered super high flyers already at this age, u mean u r renting?
ikan bilis
19-05-12, 16:04
I am a newbie with CPF + CASH ard 450k household income 130k/year (with no outstanding loan) and find it hard to purchase a 999 or freehold under current price... I am quite doubtful with a household income of 7k++ should go for 1 now.
To purchase I don't think it would be an issue but to enjoy your life for the reamaining 20 years(prime)...I guess you will be slave to your property leh.
I am considering a Resale HDB better despite attempting to purchase one myself at the moment but everytime I think of how I would be asset rich(subjet to market condition also) and cash poor...I cannot tahan but HDB...I cannot buy now..as i got msia property under my wife's name which is still under master title and yet to be top...how to transfer name ar???
Any taikor can advise further based on their experience would be very much appreciated. 36yrs old this year...
wow... think you better check with some lawyers...
too cheem,... but may be can look into...
- subsale your m'sia property
- inject/transfer your m'sia property into a m'sia company entity, (company name under both you and your wife's name)
- talk to HDB or MP, tell them you have a BUC in m'sia and promise to sell it within 6-months upon TOP, see if they allow you to buy HDB now.
and note if m'sia property is commercial property or land parcel not zoned for residential usage, you still can buy hdb here....
;)
btw: Oooii... you people what newbie... i just checked the join date... me newest!! ...
CondoInterested
19-05-12, 16:22
wait until i got 1 million cash, at least..
then i can start shopping... :ashamed1::ashamed1:
then me will seek advices from the many gurus here :banghead::banghead:
It's good to read and understand the Singapore's housing law and regulation, and also how the loan, bank, HDB, CPF and cash work when you need to buy either HDB or private property, etc.
And also same time be aware of your own situation, so you know the time is right, you just strike straight away, not need to spend days and maybe even weeks to understand, and by time you understand, the market may already move far far away liow.
You are considered super high flyers already at this age, u mean u r renting?
Staying with parent now and cashed out my private recently.
I am putting the cash back to property of course else it would eventually eaten up by inflation. Question is HDB or PTE. I am considering HDB and I probably can work as hobby liao. Stuck with msia property issue....
Should I inform HDB on the mentioned Property which is still under contruction and not even strata yet..Master title.....+_+
Need lawyer advise from msia liao....
Alternatively...Slave for the next 20 yrs and get a LH or 999 or Freehold but...this would be my last last choice..
wow... think you better check with some lawyers...
too cheem,... but may be can look into...
- subsale your m'sia property
- inject/transfer your m'sia property into a m'sia company entity, (company name under both you and your wife's name)
- talk to HDB or MP, tell them you have a BUC in m'sia and promise to sell it within 6-months upon TOP, see if they allow you to buy HDB now.
and note if m'sia property is commercial property or land parcel not zoned for residential usage, you still can buy hdb here....
;)
btw: Oooii... you people what newbie... i just checked the join date... me newest!! ...
Joined long time back but 14 posts...newbies..for sure in term of market exposure...I usually go for own stay nia..but start to think or trying to think more wise now le..
phantom_opera
19-05-12, 16:36
Staying with parent now and cashed out my private recently.
I am putting the cash back to property of course else it would eventually eaten up by inflation. Question is HDB or PTE. I am considering HDB and I probably can work as hobby liao. Stuck with msia property issue....
Should I inform HDB on the mentioned Property which is still under contruction and not even strata yet..Master title.....+_+
Need lawyer advise from msia liao....
Alternatively...Slave for the next 20 yrs and get a LH or 999 or Freehold but...this would be my last last choice..
u mean with 450k cash + cpf, you can go into semi-retirement?? I am sure you do not have kids right? why not one small HDB and one MM after MOP ??
ikan bilis
19-05-12, 16:37
Joined long time back but 14 posts...newbies..for sure in term of market exposure...I usually go for own stay nia..but start to think or trying to think more wise now le..
bro,... if i were you... i will die die find all way to transfer of m'sia property, and hoot a big big dual key EC (if can no longer tahan sold ex-PC high and need buy back at even higher now)...
anyway, you got a wide choice of HDB-EA, EC or PC... no housing headache.. ;)
HDB-EA will be a good choice, 130-160sqm... d@mn shiok !!.... :cheers4:
I wanted to get a condo, preferably 999 year lease or freehold. However, I have an oustanding of HDB loan of 450k approximately.
My household income is around 7k++, and I have a disposable rental income of around 2.4k. Besides, I have 2 young infant children.
I have around 100-120kSGD cash savings, and I am eagerly and actively searching for a property for my family.
The places I have been scouting are:
1. Flamingo Valley - Siglap
2. Trizon - Mt Sinai
3. Glentree - Mt Sinai
4. Ridgewood - Mt Sinai
or any possibly a good development in D15.
Please advise as I am worried I may miss the boat.
can try the marq, I heard they might be selling the guardhouse.
u mean with 450k cash + cpf, you can go into semi-retirement?? I am sure you do not have kids right? why not one small HDB and one MM after MOP ??
No , not what I mean. I mean I don't have to work like slave for my remaining prime to service my housing loan.
Getting a HDB(Big big type) I think even if I lose my current job...I can chin chai chin chai find a job I like and still able to service the loan with ease.
With my current income and interest rate...obtaining a loan is not too difficult but don't feel like being a slave anymore. I probably will leverage when the time is right. Right now is to fight inflation only so at least must get something while the remaining cash to go into some useful investment like getting some Bluechip stocks for dividends etc? Any advise are welcome as we are all learning to be finanical indenpendent or free
bro,... if i were you... i will die die find all way to transfer of m'sia property, and hoot a big big dual key EC (if can no longer tahan sold ex-PC high and need buy back at even higher now)...
anyway, you got a wide choice of HDB-EA, EC or PC... no housing headache.. ;)
HDB-EA will be a good choice, 130-160sqm... d@mn shiok !!.... :cheers4:
Yea...EA / EM...shiok shiok! Trying to get my msia property issue resolved...fainted...Backside itchy go purchase 1 at JB under wife's name (SHE is PR from msia) now want to move back HDB so leh chey....best..is dunno how to subsale as it is under Master Title else I have many Sister in laws to transfer name..
hi all gurus,
thx bro ikan bilis for ur offer.
in light of downturn (potential) in most parts of the world, i'd be keen to hear ur opinions so we can consider our next move.
- wife n myself in our mid/late-30s;
- 5-yr MOP for HDB (fully-paid in 2009) coming up in Aug 2012;
- combined dual-income of ard SGD300k p.a.;
- cash + CPF of ard SGD600k.
- we are considering buying a PC for own stay (>= 1000sf);
- advice from family/ frnds to hold on to HDB till new policy forbids;
- if we buy this yr, and mkt corrects/ crashes, we would like to have the option of buying another for investment/ self-stay at a distressed price to partially off-set the drop in value of 2nd property;
- wife is of the opinion of just buy since we're not over-stretched, whereas i'm thinking of the potential correction in the 2013/2014...
so, how shld we play this property game?
thx in advance for sharing ur ideas/ comments.
hmm... today this forum very boring,... :sleep:
any newbie condo questions/problems pls throw here so that all the old birds/lau-jiow can answer.... ;)
(disclaimer: me no old-bird here hor... just a small fish swimming around…)
ikan bilis
19-05-12, 16:52
hi all gurus,
thx bro ikan bilis for ur offer.
in light of downturn (potential) in most parts of the world, i'd be keen to hear ur opinions so we can consider our next move.
- wife n myself in our mid/late-30s;
- 5-yr MOP for HDB (fully-paid in 2009) coming up in Aug 2012;
- combined dual-income of ard SGD300k p.a.;
- cash + CPF of ard SGD600k.
- we are considering buying a PC for own stay (>= 1000sf);
- advice from family/ frnds to hold on to HDB till new policy forbids;
- if we buy this yr, and mkt corrects/ crashes, we would like to have the option of buying another for investment/ self-stay at a distressed price to partially off-set the drop in value of 2nd property;
- wife is of the opinion of just buy since we're not over-stretched, whereas i'm thinking of the potential correction in the 2013/2014...
so, how shld we play this property game?
thx in advance for sharing ur ideas/ comments.
haha... me better shut-up liow... :ashamed1: :ashamed1:
and note ikanbilis=small fish... :D
need to wait for rich guys like that Toy-Bear, CCR, devil-property-agent to talk to you... ;)
Keep your HDB and buy a landed property when there is really a correction.
hi all gurus,
thx bro ikan bilis for ur offer.
in light of downturn (potential) in most parts of the world, i'd be keen to hear ur opinions so we can consider our next move.
- wife n myself in our mid/late-30s;
- 5-yr MOP for HDB (fully-paid in 2009) coming up in Aug 2012;
- combined dual-income of ard SGD300k p.a.;
- cash + CPF of ard SGD600k.
- we are considering buying a PC for own stay (>= 1000sf);
- advice from family/ frnds to hold on to HDB till new policy forbids;
- if we buy this yr, and mkt corrects/ crashes, we would like to have the option of buying another for investment/ self-stay at a distressed price to partially off-set the drop in value of 2nd property;
- wife is of the opinion of just buy since we're not over-stretched, whereas i'm thinking of the potential correction in the 2013/2014...
so, how shld we play this property game?
thx in advance for sharing ur ideas/ comments.
With your strong income, ability to pay off the hdb in 5 years, and still with huge cpf+ cash saving, you chose to buy a hdb during the golden period at 2006-07. How do you end up in this situation? :D
hi all gurus,
thx bro ikan bilis for ur offer.
in light of downturn (potential) in most parts of the world, i'd be keen to hear ur opinions so we can consider our next move.
- wife n myself in our mid/late-30s;
- 5-yr MOP for HDB (fully-paid in 2009) coming up in Aug 2012;
- combined dual-income of ard SGD300k p.a.;
- cash + CPF of ard SGD600k.
- we are considering buying a PC for own stay (>= 1000sf);
- advice from family/ frnds to hold on to HDB till new policy forbids;
- if we buy this yr, and mkt corrects/ crashes, we would like to have the option of buying another for investment/ self-stay at a distressed price to partially off-set the drop in value of 2nd property;
- wife is of the opinion of just buy since we're not over-stretched, whereas i'm thinking of the potential correction in the 2013/2014...
so, how shld we play this property game?
thx in advance for sharing ur ideas/ comments.
rattydrama
19-05-12, 18:11
I am a newbie with CPF + CASH ard 450k household income 130k/year (with no outstanding loan) and find it hard to purchase a 999 or freehold under current price... I am quite doubtful with a household income of 7k++ should go for 1 now.
To purchase I don't think it would be an issue but to enjoy your life for the reamaining 20 years(prime)...I guess you will be slave to your property leh.
I am considering a Resale HDB better despite attempting to purchase one myself at the moment but everytime I think of how I would be asset rich(subjet to market condition also) and cash poor...I cannot tahan but HDB...I cannot buy now..as i got msia property under my wife's name which is still under master title and yet to be top...how to transfer name ar???
Any taikor can advise further based on their experience would be very much appreciated. 36yrs old this year...
If you are 36 years old, time is on your side, you may just buy anything that has greater capital appreciation.
put 20% downpayment, stretch the loan tenure to the max. duo key project is a good option for you.
If market is on your side, you may realised that you can retire early and receive passive income.
rattydrama
19-05-12, 18:17
With your strong income, ability to pay off the hdb in 5 years, and still with huge cpf+ cash saving, you chose to buy a hdb during the golden period at 2006-07. How do you end up in this situation? :D
Bro, there are many who receive good paying job but nvr read ppty news or simply not keen. a roof on their head is simply what they need and they are adverse risk taker.
bro u're too humble...
i have zero experience in buying private property, so when time permits i'll logon to read and learn from other members' opinions and experience. i'm sure you have valuable advice to share. :cheers5:
haha... me better shut-up liow... :ashamed1: :ashamed1:
and note ikanbilis=small fish... :D
need to wait for rich guys like that Toy-Bear, CCR, devil-property-agent to talk to you... ;)
thx for ur suggeation bro.
we toyed with the idea of a landed pty, but feel we'll be biting more than we can chew. chances are our next home will be a condo/ apt if we do get something. landed... feels/ sounds outta reach for the next couple of years at least.
Keep your HDB and buy a landed property when there is really a correction.
Landed is limited while condos are plenty. 2-3 million landed should be reasonable for a family of 4. I understand it also depends on how secure is the household income, ie. how recession proof.
thx for ur suggeation bro.
we toyed with the idea of a landed pty, but feel we'll be biting more than we can chew. chances are our next home will be a condo/ apt if we do get something. landed... feels/ sounds outta reach for the next couple of years at least.
Bro, there are many who receive good paying job but nvr read ppty news or simply not keen. a roof on their head is simply what they need and they are adverse risk taker.
:D I am not doubting him. Just commenting. I also have a friend in this profile. But luck is on his side to move from the far far away pc to city fringe pc for his child primary school.
rattydrama
19-05-12, 18:30
hi all gurus,
thx bro ikan bilis for ur offer.
in light of downturn (potential) in most parts of the world, i'd be keen to hear ur opinions so we can consider our next move.
- wife n myself in our mid/late-30s;
- 5-yr MOP for HDB (fully-paid in 2009) coming up in Aug 2012;
- combined dual-income of ard SGD300k p.a.;
- cash + CPF of ard SGD600k.
- we are considering buying a PC for own stay (>= 1000sf);
- advice from family/ frnds to hold on to HDB till new policy forbids;
- if we buy this yr, and mkt corrects/ crashes, we would like to have the option of buying another for investment/ self-stay at a distressed price to partially off-set the drop in value of 2nd property;
- wife is of the opinion of just buy since we're not over-stretched, whereas i'm thinking of the potential correction in the 2013/2014...
so, how shld we play this property game?
thx in advance for sharing ur ideas/ comments.
before all those cooling measures, you can strike rich fairly easily. If it is before Aug 2010, you can sell away yr HDB and downgrade to a resale HDB and loan up to the max.
with 600K + 300k = 900k of cpf/cash, can hoot 6 units of FH mm around 500k each at 10% downpayment. You could rent out 2.5k pa month which translate to around 5% net rental yield. Monthly Installement is about 1.3k for 30 years. Positive cash flow is $700 per month after deducting agent fee, tax etc...
nett passive income is $700 x 6 = $4,200 per month.
on top of this you are seating on cap appreciation due to inflation and tenant are helping you to pay instalment.
Not so easy now.
:cheers1:
we were looking ard for a resale HDB/ PC then, and i recall COV was quite high in 2005-07. we were lucky with the timing of events, as wife took a few months break b4 starting at her new coy. we applied as a single-income couple. didn't wanna pay the COV and decided to utilise my entitlement as a singaporean and get whatever we could brand new fr HDB. :)
With your strong income, ability to pay off the hdb in 5 years, and still with huge cpf+ cash saving, you chose to buy a hdb during the golden period at 2006-07. How do you end up in this situation? :D
Some I know have bought landed in good district and sitting on more than 80% capital appreciation.
:D I am not doubting him. Just commenting. I also have a friend in this profile. But luck is on his side to move from the far far away pc to city fringe pc for his child primary school.
thx for sharing bro.
we do speculate and invest in equities, but still i'll consider us relativell risk-adverse. think i'll have sleepless nights with so much leverage. :)
mmm but it's an idea! :cheers4:
before all those cooling measures, you can strike rich fairly easily. If it is before Aug 2010, you can sell away yr HDB and downgrade to a resale HDB and loan up to the max.
with 600K + 300k = 900k of cpf/cash, can hoot 6 units of FH mm around 500k each at 10% downpayment. You could rent out 2.5k pa month which translate to around 5% net rental yield. Monthly Installement is about 1.3k for 30 years. Positive cash flow is $700 per month after deducting agent fee, tax etc...
nett passive income is $700 x 6 = $4,200 per month.
on top of this you are seating on cap appreciation due to inflation and tenant are helping you to pay instalment.
Not so easy now.
:cheers1:
rattydrama
19-05-12, 18:40
Some I know have bought landed in good district and sitting on more than 80% capital appreciation.
landed is easier to chew if it comes from the investment profits. landed is also for long term cap apprecation, rental yield is bad. Unless for some deserving few who earns big bulks and have very secure jobs, the quantum is big to swallow.
Its also all about holding power.
can try the marq, I heard they might be selling the guardhouse.
I prefer landed or condo in the D10 and D15 district.
before all those cooling measures, you can strike rich fairly easily. If it is before Aug 2010, you can sell away yr HDB and downgrade to a resale HDB and loan up to the max.
with 600K + 300k = 900k of cpf/cash, can hoot 6 units of FH mm around 500k each at 10% downpayment. You could rent out 2.5k pa month which translate to around 5% net rental yield. Monthly Installement is about 1.3k for 30 years. Positive cash flow is $700 per month after deducting agent fee, tax etc...
nett passive income is $700 x 6 = $4,200 per month.
on top of this you are seating on cap appreciation due to inflation and tenant are helping you to pay instalment.
Not so easy now.
:cheers1:
So... is that what you did bro rat? Meow
rattydrama
19-05-12, 18:54
thx for sharing bro.
we do speculate and invest in equities, but still i'll consider us relativell risk-adverse. think i'll have sleepless nights with so much leverage. :)
mmm but it's an idea! :cheers4:
you have 300k income, no sweat to own 6 units. LOL. I started off reading ppty new for 10 years before putting my bucks in ppty. of course, some are much better then me and staying in landed now.
look at sg policy, its all bout calculated risk.
well, I think resale FH CCR has some hope now. the price looks attractive. better cap appreciation for ccr. if the market worsen due to euro crisis, you may have a good chance to enter. alot of company flocked to SG to set up their regional HQ here, the stream of demand is here. Just observe the number of international schools that were set up here in recent years for clue.
some with low/un-utilised plot ratio may have future potential for en bloc and change in planning by ura. who knows!?
my 2cents.
rattydrama
19-05-12, 18:55
So... is that what you did bro rat? Meow I dont like MM and nvr own MM and I am wrong!:banghead:
rattydrama
19-05-12, 19:02
cal is based on 20% downpayment not 10%.
before all those cooling measures, you can strike rich fairly easily. If it is before Aug 2010, you can sell away yr HDB and downgrade to a resale HDB and loan up to the max.
with 600K + 300k = 900k of cpf/cash, can hoot 6 units of FH mm around 500k each at 10% downpayment. You could rent out 2.5k pa month which translate to around 5% net rental yield. Monthly Installement is about 1.3k for 30 years. Positive cash flow is $700 per month after deducting agent fee, tax etc...
nett passive income is $700 x 6 = $4,200 per month.
on top of this you are seating on cap appreciation due to inflation and tenant are helping you to pay instalment.
Not so easy now.
:cheers1:
I dont like MM and nvr own MM and I am wrong!:banghead:
See la. Rat should love their bro Mickey Mouse...
cal is based on 20% downpayment not 10%.
900k can hoot 9 what... Why 6
rattydrama
19-05-12, 19:09
See la. Rat should love their bro Mickey Mouse... I LOVE KBW, "untested".. I am a risk adverse!
rattydrama
19-05-12, 19:11
900k can hoot 9 what... Why 6
must keep for rainy days!! at least 3 yrs of funds. Some say 6 months but I think its not good enough.
phantom_opera
19-05-12, 20:15
I think it us wise to be risk adverse now, once u have kid or more kids the working mother may quit job so count this in
must keep for rainy days!! at least 3 yrs of funds. Some say 6 months but I think its not good enough.
3yrs of funds these days are not enough, banks recommendation is 2yrs based on 4+% interest rates, my personal opinion is 5yrs if not 3yrs based on 3%, you never know when interest when will go up up like Up@Robertson Quay
rattydrama
19-05-12, 20:31
3yrs of funds these days are not enough, banks recommendation is 2yrs based on 4+% interest rates, my personal opinion is 5yrs if not 3yrs based on 3%, you never know when interest when will go up up like Up@Robertson Quay
I'm great alot of us are prudent so at least ppty price wont crash... If your existing ppty is already seating on cap appreciation then it should be alright, isnt so? too much cash on hand will be eroded by inflation.
You can easily afford a 2 mil pc (without over stretch) at city fringe or D10,11 area, except timing is not right. No one can advise on timing.. It is a probability game based on gut feel, economic outlook, market situation, etc.
Safest bet is to buy during recession, hold thru the cycle.
we were looking ard for a resale HDB/ PC then, and i recall COV was quite high in 2005-07. we were lucky with the timing of events, as wife took a few months break b4 starting at her new coy. we applied as a single-income couple. didn't wanna pay the COV and decided to utilise my entitlement as a singaporean and get whatever we could brand new fr HDB. :)
phantom_opera
19-05-12, 20:54
Let me give an example. My peer bought a semi-D for > 2 million after selling off HDB at Holland in 2008. She and husband both working and probably do not plan to have kid. She was quite stressed during the Lehman crisis and secretly I think she regretted buying such a big house too (maintenance, cleaning, climb up and down - they do not have maid). Luckily due to QE1/QE2, we have a sharp turn around and she probably feels much assured now.
Such is the danger of overstretching yourself. I also think it is dangerous to assume you always have double income as one day the wife may quit job to take care of kids.
hi all gurus,
thx bro ikan bilis for ur offer.
in light of downturn (potential) in most parts of the world, i'd be keen to hear ur opinions so we can consider our next move.
- wife n myself in our mid/late-30s;
- 5-yr MOP for HDB (fully-paid in 2009) coming up in Aug 2012;
- combined dual-income of ard SGD300k p.a.;
- cash + CPF of ard SGD600k.
- we are considering buying a PC for own stay (>= 1000sf);
- advice from family/ frnds to hold on to HDB till new policy forbids;
- if we buy this yr, and mkt corrects/ crashes, we would like to have the option of buying another for investment/ self-stay at a distressed price to partially off-set the drop in value of 2nd property;
- wife is of the opinion of just buy since we're not over-stretched, whereas i'm thinking of the potential correction in the 2013/2014...
so, how shld we play this property game?
thx in advance for sharing ur ideas/ comments.
Question is whether you want to enjoy your fruits of labour now, ie buy condo to stay in, or continue to build up your wealth for passive income?
If the aim is the second, stay in your HDB and invest in property that gives you good rental return. The rental should cover the installations + expenses. I would buy 1 property of say 1mil every year (you should be able to do that looking at your income). It's using the same principle of dollar cost averaging... if you believe that property prices always go up in the long run. With this strategy, you don't try to time the market, market goes up, you buy, market goes down, you buy a bigger unit.
with 20% down the first property of 1 mil, you have plenty of cash for contingency. 1 year later, with 40% down, you should have still have substantial cash still with 1 more year of savings... and so forth.... Your rental income will also help get more loans. Of course have enough contingency cash. Increasing rental income in the long run will also help support future purchases.
In the long run, you'll have multiple properties. Prices could have easily gone up by 50% by the time you retire.... Sell some to fully repay the banks if you choose too.
That's what I'm doing. Working well so far...:cheers4:
I sense fear about being a slave tomyour house.... If you continue this way of thinking you can't make money.... Properties in Singapore is an appreciating assets.... Take big loan and drag for 35 years when you are young.... Coz you can work and rental can pay for itself....
The problem is if you put all your money into a landed and stay in in!!! Then you stressed....
If you buy two condos and rent it out, then if you lose yournjob just sell it if you neednto, or else still rent it out.... 30 years time you will have two condos and one hdb...
Why is this being slave to your house?
The withhold Singaporeans are that we are house proud, pour all the momeyninto one single house, spend 150 k renovating it then after that say you slave to the house? If you stay in hdb, en rent out your condo, where got slave to your house?????
hi all gurus,
here is my newbie profile:
oustanding loan(1 pc + 1 hdb) = 800k
cash+cpf = 400k
household income = 140k
net pc rental income = 34k
conservative pc paper profit = 400k
own stay hdb still lock under 3yr mop = neligable paper profit
am i over leverage or under leverage?
dreaming of owning another rental unit...so far only dare to dream...
although i joined this forum in dec08, but m still a newbie :ashamed1:,
but have definitely benefited from this forum.
so, how shld we continue in this property game?
thx in advance for sharing ur ideas/ comments.
My friend married a New New Zealander is trying to buy a HDB.
Being a good citizen, she just disclosed her husband's property in New Zealand.
HDB now refuses to allow them to buy HDB flat (her husband is a PR, so they are 1 Citizen + one PR).
Appeal, appeal, appeal, no use.
Saw MP, Got letter, still no use.
Her husband is now pushing her to move the family to New Zealand where they have a nice farm (with resident property). But she prefer to stay in Singapore as her parents and other relatives are all here.
Last I heard is that marriage is also under stress.
So watch your words before you talk to HDB.
Thanks,
Richard
PS. I am not suggesting that you don't disclose your overseas property, but don't bet on that you can appeal once disclosed. They are very strict to the new rules.
hi all gurus,
here is my newbie profile:
oustanding loan(1 pc + 1 hdb) = 800k
cash+cpf = 400k
household income = 140k
net pc rental income = 34k
conservative pc paper profit = 400k
own stay hdb still lock under 3yr mop = neligable paper profit
am i over leverage or under leverage?
dreaming of owning another rental unit...so far only dare to dream...
although i joined this forum in dec08, but m still a newbie :ashamed1:,
but have definitely benefited from this forum.
so, how shld we continue in this property game?
thx in advance for sharing ur ideas/ comments.Don't think you are over leveraging. OK Ok. However, I'm more concerned about the PC you have now which is definitely not under your name. In short, I believe that you will eventually sell it unless you have v strong reasons to hold on. PC price is that timing game that nobody likes to be in so you have to decide when you will sell it if you so decides to. :cheers5:
Don't think you are over leveraging. OK Ok. However, I'm more concerned about the PC you have now which is definitely not under your name. In short, I believe that you will eventually sell it unless you have v strong reasons to hold on. PC price is that timing game that nobody likes to be in so you have to decide when you will sell it if you so decides to. :cheers5:
hi ys, the pc is under me+wife name. we bought the condo before the resale hdb. That time no rule of must sell pc after buying resale hdb.
Have not thought of selling in the short term yet, bec we do not want to just leave the money in the bank... :)
Don't think you are over leveraging. OK Ok. However, I'm more concerned about the PC you have now which is definitely not under your name. In short, I believe that you will eventually sell it unless you have v strong reasons to hold on. PC price is that timing game that nobody likes to be in so you have to decide when you will sell it if you so decides to. :cheers5: hi ys, the pc is under me+wife name. we bought the condo before the resale hdb. That time no rule of must sell pc after buying resale hdb.
Have not thought of selling in the short term yet, bec we do not want to just leave the money in the bank... :) but if i go buy another one, let say 600k, surely is over leverage liao right?
Hi all gurus, newbie here and this is my maiden post...
need advice about New LH vs Old FH
Thinking to buy a PC at toa payoh,
and still considering between Trevista (FH 2000) and Trellis Tower (LH 2012).
I notice the quantum for 3 bedroom (10xx sqft) is almost the same.
Which one is better option, considering I want to rent it out first with possibility for own stay later.
Thank you in advance for all gurus advice...
Hi all gurus, newbie here and this is my maiden post...
need advice about New LH vs Old FH
Thinking to buy a PC at toa payoh,
and still considering between Trevista (FH 2000) and Trellis Tower (LH 2012).
I notice the quantum for 3 bedroom (10xx sqft) is almost the same.
Which one is better option, considering I want to rent it out first with possibility for own stay later.
Thank you in advance for all gurus advice...
I am not a guru, just an office boy.
But I did notice your FH2000 and LH2012 is the other way round.
If own stay is on the plans, the newer ones is certainly better, you dont want to spend so much time and effort (which is money) rectifying 20 year old apartments. Anyway, Trev is easier to buy with so much competition now.
I am answering this based on just the 2 developments. Personally, I think with the amount, u can get better quality investments. Toa Payoh, though is between Bishan Sky and Novena Soleil, doesnt mean that the price will also gravitate toward the middle. If you thinking that way, then, sorry man! Gotta tell you many many already noticed that. But is there a rush to cheong buy tpy ? nope.
DKSG
Just ask yourself,
1. if the rental is down by 40%, how long can you sustain with your current pc + hdb.
2. If you purchase additional a condo, with above situation, can you sustain? How long can you sustain?
3. If interest rate shoot up to 4%, and with so many properties, can you sustain and for how long?
4. If you need to cut loss when property down 30-40%, can you take the loss? ( Shuay Shuay receive bye bye Package)
if you have no trouble with 1,2,3, you are not over leverage.
If ok with 4, you have assess the risks, and ready to face the consequence when luck is not on your side.
Just my personal thoughts..
hi all gurus,
here is my newbie profile:
oustanding loan(1 pc + 1 hdb) = 800k
cash+cpf = 400k
household income = 140k
net pc rental income = 34k
conservative pc paper profit = 400k
own stay hdb still lock under 3yr mop = neligable paper profit
am i over leverage or under leverage?
dreaming of owning another rental unit...so far only dare to dream...
although i joined this forum in dec08, but m still a newbie :ashamed1:,
but have definitely benefited from this forum.
so, how shld we continue in this property game?
thx in advance for sharing ur ideas/ comments.
Thanks for your correction:ashamed1: :ashamed1:
Ya, actually I also wondering, why not many people cheong tpy. Is it because there are many hdb block around tpy? any specific reason for this?
I am not a guru, just an office boy.
But I did notice your FH2000 and LH2012 is the other way round.
If own stay is on the plans, the newer ones is certainly better, you dont want to spend so much time and effort (which is money) rectifying 20 year old apartments. Anyway, Trev is easier to buy with so much competition now.
I am answering this based on just the 2 developments. Personally, I think with the amount, u can get better quality investments. Toa Payoh, though is between Bishan Sky and Novena Soleil, doesnt mean that the price will also gravitate toward the middle. If you thinking that way, then, sorry man! Gotta tell you many many already noticed that. But is there a rush to cheong buy tpy ? nope.
DKSG
hi all gurus,
here is my newbie profile:
oustanding loan(1 pc + 1 hdb) = 800k
cash+cpf = 400k
household income = 140k
net pc rental income = 34k
conservative pc paper profit = 400k
own stay hdb still lock under 3yr mop = neligable paper profit
am i over leverage or under leverage?
dreaming of owning another rental unit...so far only dare to dream...
although i joined this forum in dec08, but m still a newbie :ashamed1:,
but have definitely benefited from this forum.
so, how shld we continue in this property game?
thx in advance for sharing ur ideas/ comments.
Hi... Could you share what's your age profile and your family profile? Kids etc? 140k is per month or annual? Also, how old is your PC? Are you sure your income will be secure? TIA.
Thanks for your correction:ashamed1: :ashamed1:
Ya, actually I also wondering, why not many people cheong tpy. Is it because there are many hdb block around tpy? any specific reason for this?
This question is a bit tough for a newbie to understand.
You may refer to some of my earlier posts on the same topic. I think its in Watertown or something.
Just remember what I say above - tpy price doesnt have to be betw Bishan and Novena - can be very much lower.
Only agents will con u saying that since Bishan is now $1,700 psf, tpy will very soon hit $1,800 psf. If someone tell u that, they are lying big time.
DKSG
That is why I suggested landed to pug as he/she is looking for own stay.
landed is easier to chew if it comes from the investment profits. landed is also for long term cap apprecation, rental yield is bad. Unless for some deserving few who earns big bulks and have very secure jobs, the quantum is big to swallow.
Its also all about holding power.
U may be fortunate.
I dont like MM and nvr own MM and I am wrong!:banghead:
U may be fortunate.
I like MM because the quantum is low, however my family of four requires a bigger space.
Question is people are insecure during recession period & may not buy. As I have said earlier - job is recession proof.
You can easily afford a 2 mil pc (without over stretch) at city fringe or D10,11 area, except timing is not right. No one can advise on timing.. It is a probability game based on gut feel, economic outlook, market situation, etc.
Safest bet is to buy during recession, hold thru the cycle.
Thanks you...:)
That whats exactly the agent told me...
I think I need to do more homework before decide to jump in to the ship,
:cheers4:
This question is a bit tough for a newbie to understand.
You may refer to some of my earlier posts on the same topic. I think its in Watertown or something.
Just remember what I say above - tpy price doesnt have to be betw Bishan and Novena - can be very much lower.
Only agents will con u saying that since Bishan is now $1,700 psf, tpy will very soon hit $1,800 psf. If someone tell u that, they are lying big time.
DKSG
Hi... Could you share what's your age profile and your family profile? Kids etc? 140k is per month or annual? Also, how old is your PC? Are you sure your income will be secure? TIA.
140k per yr lah, if 140k/mth, i no need to come newbie thread liao :D
age = late 30s, 1kid
PC around 5yr old (collected rent for 3 yrs liao)
job security = not government sector leh = so cant be sure
140k per yr lah, if 140k/mth, i no need to come newbie thread liao :D
age = late 30s
PC around 5yr old (collected rent for 3 yrs liao)
job security = not government sector leh = so cant be sure
Thanks for the reply, do you have kids as well? Oh yes, your PC is a 99 year leasehold or freehold?
Mine is around 7k+/mth and 2k+ disposal rental income from my parent's HDB.
We are now bunking in together, and I am looking to get a PC.
rattydrama
20-05-12, 10:23
This question is a bit tough for a newbie to understand.
You may refer to some of my earlier posts on the same topic. I think its in Watertown or something.
Just remember what I say above - tpy price doesnt have to be betw Bishan and Novena - can be very much lower.
Only agents will con u saying that since Bishan is now $1,700 psf, tpy will very soon hit $1,800 psf. If someone tell u that, they are lying big time.
DKSG
I will go for Balestier or Novena than TPY. :D
Thanks for the reply, do you have kids as well?
Mine is around 7k+/mth and 2k+ disposal rental income from my parent's HDB.
We are now bunking in together, and I am looking to get a PC.
ya, 1 kid :)
I will go for Balestier or Novena than TPY. :D
sorri huh, why is Balestier better than TPY,
personally i value mrt....
Have planted the crops too & enjoying the fruits. But that was viable before the last few CMs. More difficult now.
Question is whether you want to enjoy your fruits of labour now, ie buy condo to stay in, or continue to build up your wealth for passive income?
If the aim is the second, stay in your HDB and invest in property that gives you good rental return. The rental should cover the installations + expenses. I would buy 1 property of say 1mil every year (you should be able to do that looking at your income). It's using the same principle of dollar cost averaging... if you believe that property prices always go up in the long run. With this strategy, you don't try to time the market, market goes up, you buy, market goes down, you buy a bigger unit.
with 20% down the first property of 1 mil, you have plenty of cash for contingency. 1 year later, with 40% down, you should have still have substantial cash still with 1 more year of savings... and so forth.... Your rental income will also help get more loans. Of course have enough contingency cash. Increasing rental income in the long run will also help support future purchases.
In the long run, you'll have multiple properties. Prices could have easily gone up by 50% by the time you retire.... Sell some to fully repay the banks if you choose too.
That's what I'm doing. Working well so far...:cheers4:
rattydrama
20-05-12, 10:25
U may be fortunate.
maybe...but no harm buying one to keep..at the rite price of course.:D
ya, 1 kid :)
I see. Do you find hard (financially) to provide enrichment class/programmes and "investment" in your child, when you have 800k outstanding loan etc? Do you cater buffer of 6 months, as well as keeping sufficient ammo for your child development?
If yes, please share how you make/do it? I am keen to learn the trick.
Lastly, your PC is a 99 leasehold or freehold?
rattydrama
20-05-12, 10:30
Question is people are insecure during recession period & may not buy. As I have said earlier - job is recession proof.
when recession comes, its a different ball game. many are willing to cut losses and sell at lost less willing to commit, there will be plenty to select and no takers.
also pple are going small instead of big to cut quantum...rent will drop and pple dont mind to queeze in smaller unit
hi bro,
i share ur opinion about treating pty as an asset - itz supposed to make me $ via rental income/ cap gains over time. so we're not looking to over-stretch, prefer to have spare bullets so we can act if situation changes. tha rules out landed pty for the time being.
however i'm more concerned abt over-leveraging. as interest rates can be volatile (tho consensus is that it's gonna stay low for next 2-3 yrs), what do you think of taking a shorter loan to save on interest pmts, which will eat into capital gains? any significant difference to the strategy of using pty to make $?
itz likely we'll rent out the HDB, and move into the condo/ apt if we make a purchase.
thx! :cheers5:
I sense fear about being a slave tomyour house.... If you continue this way of thinking you can't make money.... Properties in Singapore is an appreciating assets.... Take big loan and drag for 35 years when you are young.... Coz you can work and rental can pay for itself....
The problem is if you put all your money into a landed and stay in in!!! Then you stressed....
If you buy two condos and rent it out, then if you lose yournjob just sell it if you neednto, or else still rent it out.... 30 years time you will have two condos and one hdb...
Why is this being slave to your house?
The withhold Singaporeans are that we are house proud, pour all the momeyninto one single house, spend 150 k renovating it then after that say you slave to the house? If you stay in hdb, en rent out your condo, where got slave to your house?????
Recession is the opportunity that some of the people here acre longing for.
when recession comes, its a different ball game. many are willing to cut losses and sell at lost less willing to commit, there will be plenty to select and no takers.
also pple are going small instead of big to cut quantum...rent will drop and pple dont mind to queeze in smaller unit
I see. Do you find hard (financially) to provide enrichment class/programmes and "investment" in your child, when you have 800k outstanding loan etc? Do you cater buffer of 6 months, as well as keeping sufficient ammo for your child development?
If yes, please share how you make/do it? I am keen to learn the trick.
Lastly, your PC is a 99 leasehold or freehold?
PC is 99yr next to mrt.
er... i mentioned i have 400k cpf+cash, i assume this is my current buffer liao...
no trick leh, we are just salaried man and woman, everyday work and work, so sian... got give kid weekend enrichment class...
Just ask yourself,
1. if the rental is down by 40%, how long can you sustain with your current pc + hdb.
2. If you purchase additional a condo, with above situation, can you sustain? How long can you sustain?
3. If interest rate shoot up to 4%, and with so many properties, can you sustain and for how long?
4. If you need to cut loss when property down 30-40%, can you take the loss? ( Shuay Shuay receive bye bye Package)
if you have no trouble with 1,2,3, you are not over leverage.
If ok with 4, you have assess the risks, and ready to face the consequence when luck is not on your side.
Just my personal thoughts..
1. 34k rental down 40% = $20k/yr
3. interest rate at 4%, 800k 30yrs mthly installment = $3.8k = $46k/yr
meaning i need to cough out additional $26k/yr just current 2 property.
2. Add another 600k property, say i show hand 400k, loan 200k at 4%, mthly installment = $1k = $12k/yr
technically speaking, our current salary can cover the loans,
but not much saving, downgrade life style, minimum oversea holidays, i think cant sleep well every night :D
4. that's true, if valuation down, need to topup, i no $$$ liao; can only sell.
based on your scenario, so i think better guai guai stay put with 2 properties enough liao,
sian liao, when can i own 3rd property! :banghead: any other magic formula ? :D
PC is 99yr next to mrt.
er... i mentioned i have 400k cpf+cash, i assume this is my current buffer liao...
no trick leh, we are just salaried man and woman, everyday work and work, so sian... got give kid weekend enrichment class...
I am keen to know more about giving children portion.
Could you share with me what are the underlying cost in providing your child? I need to plan for my two infant children. I need to make sure the cost is cover before I embark in getting 1.3 to 1.5 mil FH property in D10 or D15.
Last, would you mind sharing more what are your expenses, liabilities like? Car loans etc if any?
hi gurus!
here's my newbie profile:
1 hdb fully paid
1 pc (top 2015) with 1.3mln loan
cash+cpf+investment = 500k
family income = 450k pa (fairly certain for next 2-3 yrs, but not sure beyond)
spouse+i are both in our late 30s; no kid (do not want!)
thinking is to use the hdb for passive income to at retirement in addition to cpf+srs+savings, but the 1.3mln mortgage has been making me very nervous (i don't like debt). am i worrying too much? :confused:
hi gurus!
here's my newbie profile:
1 hdb fully paid
1 pc (top 2015) with 1.3mln loan
cash+cpf+investment = 500k
family income = 450k pa (fairly certain for next 2-3 yrs, but not sure beyond)
spouse+i are both in our late 30s; no kid (do not want!)
thinking is to use the hdb for passive income to at retirement in addition to cpf+srs+savings, but the 1.3mln mortgage has been making me very nervous (i don't like debt). am i worrying too much? :confused:
You are very safe. Household income for a couple at 450k is excellent.
Mine is only around 90k max per annual, and I am already start looking for a 1.3mil project.
hi gurus!
here's my newbie profile:
1 hdb fully paid
1 pc (top 2015) with 1.3mln loan
cash+cpf+investment = 500k
family income = 450k pa (fairly certain for next 2-3 yrs, but not sure beyond)
spouse+i are both in our late 30s; no kid (do not want!)
thinking is to use the hdb for passive income to at retirement in addition to cpf+srs+savings, but the 1.3mln mortgage has been making me very nervous (i don't like debt). am i worrying too much? :confused:
450k per year still worry ah? 1.3m - 500k = net outstanding is only 800k, i think u save 3 - 5 yrs can clear the loan liao...
gurus, if majority current buyers are like ommmm, i dun think property prices will drop much, cause sure no problem to handle higher interest rates and topup...
No wonder all the new condos are snapped up by hdb upgrades lately. Property market needs this group of people.
phantom_opera
20-05-12, 11:01
Hey ... all these newbies are just for fun or what?? I really seriously doubt the reported figures unless u are in sales position (which is not stable)
Even at 300k+ per year, you are in the top 5% and u still need to tcss in this forum :doh: I think I believe in 90k+ yowetan more than the 450k per year family income
Your household income of $28,000
is higher than 95.0%++ of all households.
450k per year still worry ah? 1.3m - 500k = net outstanding is only 800k, i think u save 3 - 5 yrs can clear the loan liao...
gurus, if majority current buyers are like ommmm, i dun think property prices will drop much, cause sure no problem to handle higher interest rates and topup...
i'm a singaporean :D did some quick analysis - assuming we need to safekeep 300k for retirement, that leaves 1.1mil loan which will take us 5 yrs to clear. but i'm only confident of this level of income for next 2-3 years..
@phantom_opera: i'm wary all my retirement funds land up in real estate which is high risk imho
Trapping-bird
20-05-12, 11:08
You are very safe. Household income for a couple at 450k is excellent.
Mine is only around 90k max per annual, and I am already start looking for a 1.3mil project.
Hi Yowentan,
Pls advise how 90k Pa with 450k Hdb loan and 100k cash can buy a 1.5m Fh. I also want to buy.. Thanks .
Have planted the crops too & enjoying the fruits. But that was viable before the last few CMs. More difficult now.
Have acquired properties despite the CMs , from deferred payment, to 20% down, to 30% down, to the latest 40% down+ABSD.
The good thing about these is that the loan bank repayment is less with higher cash.
Didn't mind paying the additional 3% ABSD as I bought at a lower price more than 3% lower than before the CM.:D
Hey ... all these newbies are just for fun or what?? I really seriously doubt the reported figures unless u are in sales position (which is not stable)
Even at 300k+ per year, you are in the top 5% and u still need to tcss in this forum :doh: I think I believe in 90k+ yowetan more than the 450k per year family income
Your household income of $28,000
is higher than 95.0%++ of all households.
Thank you for believing in me; I am always truthful and honest though I have a big and ambitious plan (not dream).
rattydrama
20-05-12, 11:20
leverage is to make $ work harder for you. no point paying up in full. :D
hi bro,
i share ur opinion about treating pty as an asset - itz supposed to make me $ via rental income/ cap gains over time. so we're not looking to over-stretch, prefer to have spare bullets so we can act if situation changes. tha rules out landed pty for the time being.
however i'm more concerned abt over-leveraging. as interest rates can be volatile (tho consensus is that it's gonna stay low for next 2-3 yrs), what do you think of taking a shorter loan to save on interest pmts, which will eat into capital gains? any significant difference to the strategy of using pty to make $?
itz likely we'll rent out the HDB, and move into the condo/ apt if we make a purchase.
thx! :cheers5:
Hi Yowentan,
Pls advise how 90k Pa with 450k Hdb loan and 100k cash can buy a 1.5m Fh. I also want to buy.. Thanks .
Hi, I do not have a answer as I have not committed to 2nd property yet.
My last purchase was just ending of Lehman. Invested abroad lately as do not want to pay absd.
Have acquired properties despite the CMs , from deferred payment, to 20% down, to 30% down, to the latest 40% down+ABSD.
The good thing about these is that the loan bank repayment is less with higher cash.
Didn't mind paying the additional 3% ABSD as I bought at a lower price more than 3% lower than before the CM.:D
rattydrama
20-05-12, 11:27
hi gurus!
here's my newbie profile:
1 hdb fully paid
1 pc (top 2015) with 1.3mln loan
cash+cpf+investment = 500k
family income = 450k pa (fairly certain for next 2-3 yrs, but not sure beyond)
spouse+i are both in our late 30s; no kid (do not want!)
thinking is to use the hdb for passive income to at retirement in addition to cpf+srs+savings, but the 1.3mln mortgage has been making me very nervous (i don't like debt). am i worrying too much? :confused:
one thing to over come debt is cap appreciation... I think your 450kpa income is enough for you to hoot another ppty.
Trapping-bird
20-05-12, 11:29
Hi, I do not have a answer as I have not committed to 2nd property yet.
Why not get a LH 99 Yo first. Stay a few years and sell with some profit and get a Fh then.. What you think? Thanks
Why not get a LH 99 Yo first. Stay a few years and sell with some profit and get a Fh then.. What you think? Thanks
To be honest, I am afraid if I spend to get a LH 99, I will have problem coming out for FH/999 in future.
rattydrama
20-05-12, 11:34
450k pa seems pretty unreachable from many people without leveraging on ppty in the past years.
Hey ... all these newbies are just for fun or what?? I really seriously doubt the reported figures unless u are in sales position (which is not stable)
Even at 300k+ per year, you are in the top 5% and u still need to tcss in this forum :doh: I think I believe in 90k+ yowetan more than the 450k per year family income
Your household income of $28,000
is higher than 95.0%++ of all households.
Trapping-bird
20-05-12, 11:37
To be honest, I am afraid if I spend to get a LH 99, I will have problem coming out for FH/999 in future.
Well you can sell the LH after a few years, with that you can hoot a Fh .. You planning to keep your Hdb or sell?
Well you can sell the LH after a few years, with that you can hoot a Fh .. You planning to keep your Hdb or sell?
I intend to keep the HDB, and get a FH PC for own stay, and this PC has to be near good primary school for my two kids.
Trapping-bird
20-05-12, 11:43
I intend to keep the HDB, and get a FH PC for own stay, and this PC has to be near good primary school for my two kids.
I also want Fh but only can get a LH , thus I just bought one OCR LH and save for my Fh ..
I also want Fh but only can get a LH , thus I just bought one OCR LH and save for my Fh ..
If you are comfortable with your strategy and plan, it is good then.
I am just skeptical if I can afford when I am loaded with a HDB and LH PC.
I just want to finish off with a FH PC in D10 and D15.
Trapping-bird
20-05-12, 11:51
If you are comfortable with your strategy and plan, it is good then.
I am just skeptical if I can afford when I am loaded with a HDB and LH PC.
I just want to finish off with a FH PC in D10 and D15.
Good luck to you then bro..
I am just skeptical if I can afford when I am loaded with a HDB and LH PC.
hi yowetan, maybe you are right... like me, now, also cannot afford another unit with 2 loans on hand...
ikan bilis
20-05-12, 13:03
Thanks for your correction:ashamed1: :ashamed1:
Ya, actually I also wondering, why not many people cheong tpy. Is it because there are many hdb block around tpy? any specific reason for this?
bro radha08 has a budget similar to yours...
and he is digging out all the nice penthouses islandwide...
check out his old posts, like
http://forums.condosingapore.com/showthread.php?t=13637
http://forums.condosingapore.com/showthread.php?t=13686
(but quite a lot of listings on propertyguru no longer valid)
may be you should not limit your choice to tpy only... ;)
and penthouse will be very shiok shiok!!... :cheers4:
but if i go buy another one, let say 600k, surely is over leverage liao right?$600k PC restricts you to a studio at very specific locations only in today's market... Not very wise to buy at not so ideal location for now!!! Plus it may be slightly over leveraging... :cheers6:
$600k PC restricts you to a studio at very specific locations only in today's market... Not very wise to buy at not so ideal location for now!!! Plus it may be slightly over leveraging... :cheers6:
frankly speaking, since i count myself to have bought earlier, i haven't come to terms with the current pricing... i post my profile here, just wish to hear alternative opinions from all gurus like yourself :D
what happens if a property which used to value at 1.5mln (with mortgage of 1.1mln) drops 40% hypothetically i.e. now valued at 0.9mln? does bank writedown and requires us to top-up/payback part of the loan?
hi gurus!
here's my newbie profile:
1 hdb fully paid
1 pc (top 2015) with 1.3mln loan
cash+cpf+investment = 500k
family income = 450k pa (fairly certain for next 2-3 yrs, but not sure beyond)
spouse+i are both in our late 30s; no kid (do not want!)
thinking is to use the hdb for passive income to at retirement in addition to cpf+srs+savings, but the 1.3mln mortgage has been making me very nervous (i don't like debt). am i worrying too much? :confused:
Wow, 450K pa mine only 45K pa.:doh:
Hi guys how abt the fellow profile for a couple in mid 30s:
1 hdb 5rm in central outstanding loan $150K (potential rental $4K pm)
cash+cpf+investment = $400K
family income = $200K pa
No other loan.
Can afford a pc for say $1.2m?
I intend to keep the HDB, and get a FH PC for own stay, and this PC has to be near good primary school for my two kids.How old are you kids? Same gender or different gender?
hi bro,
thx for ur suggestion. landed is too big a commitment, we're not too comfy with borrowing such a large quantum, esp when i/r could go north in the not-too-distant future.
chances are we'll rent out the HDB, and stay in the next condo/ apt for a few yrs, and depending on our financial situation and mkt conditions, we're open to either renting it out or selling it if/ when we get 3rd pty. :)
Keep your HDB and buy a landed property when there is really a correction.
what happens if a property which used to value at 1.5mln (with mortgage of 1.1mln) drops 40% hypothetically i.e. now valued at 0.9mln? does bank writedown and requires us to top-up/payback part of the loan?As long as you are still paying every month, quite unlikely banks will require top ups. Furthermore, a drop of 40% in property prices is nothing short of a deep recession/economic crisis so unlikely scenario lah! Yes, you worry too much! :cheers6:
now i know property prices so wfwt liao.. apparently still got many cashrich, income revenue aplenty pple still have not hoted their dream condo yet. Looks like I am not wrong when I see av of 2-3 luxury car per level on a HDB carpark
No wonder all the new condos are snapped up by hdb upgrades lately. Property market needs this group of people.
Hi guys how abt the fellow profile for a couple in mid 30s:
1 hdb 5rm in central outstanding loan $150K (potential rental $4K pm)
cash+cpf+investment = $400K
family income = $200K pa
No other loan.
Can afford a pc for say $1.2m?
another high income profile... with 200k income yearly sure can afford lah
400k - 20% downpayment - 150k hdb = left 10k
80% loan@4%@30yr = $55k installment/yr
although left over cash look weak, but you have got 200k per yr leh, saving up in no time, not to mention when u rent out ur hdb... sure can afford lah...
frankly speaking, since i count myself to have bought earlier, i haven't come to terms with the current pricing... i post my profile here, just wish to hear alternative opinions from all gurus like yourself :DI'm also coming to terms with current pricing... :rolleyes: Btw, me no guru... am learning everyday from other gurus here! :)
I'm also coming to terms with current pricing... :rolleyes: Btw, me no guru... am learning everyday from other gurus here! :)
so many high income profile claimed to be newbie... high price here to stay... :D
but getting more difficult for me to get 3rd unit :(
You know your comfort level & situation best. One important point of Property investment is about holding power.
hi bro,
thx for ur suggestion. landed is too big a commitment, we're not too comfy with borrowing such a large quantum, esp when i/r could go north in the not-too-distant future.
chances are we'll rent out the HDB, and stay in the next condo/ apt for a few yrs, and depending on our financial situation and mkt conditions, we're open to either renting it out or selling it if/ when we get 3rd pty. :)
another high income profile... with 200k income yearly sure can afford lah
400k - 20% downpayment - 150k hdb = left 10k
80% loan@4%@30yr = $55k installment/yr
although left over cash look weak, but you have got 200k per yr leh, saving up in no time, not to mention when u rent out ur hdb... sure can afford lah...You are actually quite good with the mathematics so you are in an admirable position to ensure that you are not over committing. Plus I can see that you are very meticulous so you might tend to over estimate which serves as an additional layer of protection for yourself and your family so cheers! I am learning from you too.
Just a question, when you guys factor in cash+cpf+investment, do you separate cash+cpf from investment? Since I would rather treat investment as "illiquid". In this way I deduct the reserves [whatever amount you wish to set to sleep safe at night in case of no job/rental income], the balance amount from cash+cpf after deduction of the reserves, you can determine the property you can afford. In this way, you have 2 tiers of reserves, actual reserves set aside + investment portion
Unless the investment portion will be liquidating in full to fund the property purchase
I think people should stop pretending to come here and ask for advice whether to buy or not. Then post things like their annual income, cash holdings, etc. I think its not healthy.
Office Boy like myself dont have that much money. So to me all these looks like showing off.
I believe those who post here and ask for advice are quite fake, I am sure their bankers would have already told them how much loan the bank can give them, so what kinda price PC they can get.
Sour Grapes
DKSG
:p:p:p
what happens if a property which used to value at 1.5mln (with mortgage of 1.1mln) drops 40% hypothetically i.e. now valued at 0.9mln? does bank writedown and requires us to top-up/payback part of the loan? As long as you are still paying every month, quite unlikely banks will require top ups. Furthermore, a drop of 40% in property prices is nothing short of a deep recession/economic crisis so unlikely scenario lah! Yes, you worry too much! :cheers6:
actually this one also bothering me also leh...
recently i refinance my condo... revalued at 1.X m, then the loan contract state approval on assumption of this valuation...
wow lau... if price drop say 20%, then will the bank ask me to top up?
banker didnt really answer me this question, due to the new low rate i go ahead to refinance
my refinance amt is only less than 50% of the re-vaulation leh...
so many high income profile claimed to be newbie... high price here to stay... :D
but getting more difficult for me to get 3rd unit :(Do not underestimate yourself. In a forum where high income earners readily reveal their current status, it gives everybody a pseudo impression that there are many such earners. In actuality, there are more lower income earners in this forum plus outside this forum. Your household income already place you high in our country's income list so cheers :cheers5: ... don't rush in for 3rd unit just because everybody is buying. Have yourself a little more patience and you may be the last man standing and laughing too. :o Holding power is paramount to property investment otherwise you'll be on the wrong side of the firesale. :scared-3:
actually this one also bothering me also leh...
recently i refinance my condo... revalued at 1.X m, then the loan contract state approval on assumption of this valuation...
wow lau... if price drop say 20%, then will the bank ask me to top up?
banker didnt really answer me this question, due to the new low rate i go ahead to refinance
my refinance amt is only less than 50% of the re-vaulation leh...At 50% of the revaluation, you are already deep inside the safety bracket which our govt calculated based on 60% LTV so don't worry so much. :cheers6:
another high income profile... with 200k income yearly sure can afford lah
400k - 20% downpayment - 150k hdb = left 10k
80% loan@4%@30yr = $55k installment/yr
although left over cash look weak, but you have got 200k per yr leh, saving up in no time, not to mention when u rent out ur hdb... sure can afford lah...
I think alot also depends on whether the condo is in the money. Those who bot yrs ago would be in d money while those who boy recently would be at breakeven at the best. For those in money, they have lower risk even if the showhand cos the most sell off at lower price and still breakeven or lose little. Those who bot recent is in another ball game altogether.
hi newbie here
Me and my wife is currently staying in a FH 2 brm condo near siglap area. The condo was bought at low price in 2009. We have no kids. We are planning to get another 2 brm apartment for own stay possibly at hougang, pasir ris or even yishun area.
Question is : with the current market condition, should I sell my current condo or keep it for rental?
Thanks
thanks bro for your suggestion,
I never live in penthouse but read from this forum, penthouse will generally hotter compare to the unit below :)
From my viewing, I also like tiong bahru area,
Twin Regency and Regency Suites, but price psf is very high >1500 and I heard their city view will gone soon by the new gls :beats-me-man:
Must learn more from all the guru here first, if not my hard earn money will be burn :cheers4:
bro radha08 has a budget similar to yours...
and he is digging out all the nice penthouses islandwide...
check out his old posts, like
http://forums.condosingapore.com/showthread.php?t=13637
http://forums.condosingapore.com/showthread.php?t=13686
(but quite a lot of listings on propertyguru no longer valid)
may be you should not limit your choice to tpy only... ;)
and penthouse will be very shiok shiok!!... :cheers4:
Can the prevailing rental pay for your mortgage and nett off with passive income?
hi newbie here
Me and my wife is currently staying in a FH 2 brm condo near siglap area. The condo was bought at low price in 2009. We have no kids. We are planning to get another 2 brm apartment for own stay possibly at hougang, pasir ris or even yishun area.
Question is : with the current market condition, should I sell my current condo or keep it for rental?
Thanks
At 50% of the revaluation, you are already deep inside the safety bracket which our govt calculated based on 60% LTV so don't worry so much. :cheers6:
I like to find out do the bank have the right to ask for top up or not lor...
Like value drop 20% even if I only borrow 50% of value...
Mine is foreign bank Leh, touch wood, if they wan to pull out of sg, then what going to happen to me manz... But still I went ahead to take a bet, bec Kia Si at the same time like to gamble :D
I like to find out do the bank have the right to ask for top up or not lor...
Like value drop 20% even if I only borrow 50% of value...
Mine is foreign bank Leh, touch wood, if they wan to pull out of sg, then what going to happen to me manz... But still I went ahead to take a bet, bec Kia Si at the same time like to gamble :DMe no expert in banking finance sector but if foreign banks want to pull out, they will probably sell their local business to another finance company or bank to take over all the customers. Nothing will happen to you lah!!! Then again there may be clauses I'm unaware of too...
I like to find out do the bank have the right to ask for top up or not lor...
Like value drop 20% even if I only borrow 50% of value...
Mine is foreign bank Leh, touch wood, if they wan to pull out of sg, then what going to happen to me manz... But still I went ahead to take a bet, bec Kia Si at the same time like to gamble :D
in the 90s.. there are call back top up from banks. pls check with bank seniors.
i bet the newbie bankers were not ard, to witness it..
I think people should stop pretending to come here and ask for advice whether to buy or not. Then post things like their annual income, cash holdings, etc. I think its not healthy.
Office Boy like myself dont have that much money. So to me all these looks like showing off.
I believe those who post here and ask for advice are quite fake, I am sure their bankers would have already told them how much loan the bank can give them, so what kinda price PC they can get.
Sour Grapes
DKSG
:p:p:p
I guess u dun mean me right... Compare to the rest here, I super low income office boy...
Actually beats me, for 200k and above, how can never think about moving to bigger house earlier... From being Hdb owner having income limit to being 200k earner, sure is high flyer with bright brains... How would not have made property investment earlier... :D
I have about 200k cash on hand. Say no commitment at the moment, what is the comfortable range I should look into for pc? Max mortgage per month <2.7k. Thanks.
phantom_opera
20-05-12, 16:30
Wow with 8k per month combined family income to a 25 to 40k per month within MOP of 5y what kind of jobs hah I think I need to ask my son to venture into thus wahaha
Trapping-bird
20-05-12, 16:41
Wow with 8k per month combined family income to a 25 to 40k per month within MOP of 5y what kind of jobs hah I think I need to ask my son to venture into thus wahaha
Go sell vcd at road side ..
ikan bilis
20-05-12, 16:44
Wow with 8k per month combined family income to a 25 to 40k per month within MOP of 5y what kind of jobs hah I think I need to ask my son to venture into thus wahaha
yah-lor... very scary & shocking... :scared-1:
what type of newbie are these ??... some very cash rich, some very high income, or some very smart cheong pte condo liow and then buy back another hdb before 30 Aug 2010...
better don't let cow or developers see this thread... else cow will forget about CM6 and go straight to CM7... or developers will bid OCR GLS to 800psf, and bishan >1000psf... :scared-4: :scared-4:
like that me will hold everything very tight tight tight liow... :rolleyes: ;)
I am inspired from the fellow forumers experience sharing.
I will definitely fighting for the holy grail - 1.5 mil SGD landed or private FC condo.
I guess u dun mean me right... Compare to the rest here, I super low income office boy...
Actually beats me, for 200k and above, how can never think about moving to bigger house earlier... From being Hdb owner having income limit to being 200k earner, sure is high flyer with bright brains... How would not have made property investment earlier... :D
retirement is always at the back of our large ticket financial decisions esp no kids when we get old. Few yrs ago when we had some cash to buy a 2nd property, we didn't go ahead cos we were concern abt the big leverage which if not careful, means we'll be in trouble at retirement. now we're looking at passive income at retirement, which rental seems to be a good option. different stages of life..?
No interest in showing off wealth but keen to understand why many people seem so confident about taking big loans, although I believe our financial condition is healthier than many..
I guess u dun mean me right... Compare to the rest here, I super low income office boy...
Actually beats me, for 200k and above, how can never think about moving to bigger house earlier... From being Hdb owner having income limit to being 200k earner, sure is high flyer with bright brains... How would not have made property investment earlier... :D
Ignorance or fear or both... I was both... But once you conquer the former, then you will conquer the latter. I still have friends who never touch any kind of investments. Just keep money...
How old are you kids? Same gender or different gender?
My elder son is 1 year old, and younger son is coming soon in 1-2 weeks time.
My wife and myself are 35 year old, working in back end office of a foreign bank. Household income is around 7k+, with disposal income of 2k+ from my parent's HDB flat.
Ignorance or fear or both... I was both... But once you conquer the former, then you will conquer the latter. I still have friends who never touch any kind of investments. Just keep money...
yes this is our situation.. kia si.. else won't bother to think so hard liao..
retirement is always at the back of our large ticket financial decisions esp no kids when we get old. Few yrs ago when we had some cash to buy a 2nd property, we didn't go ahead cos we were concern abt the big leverage which if not careful, means we'll be in trouble at retirement. now we're looking at passive income at retirement, which rental seems to be a good option. different stages of life..?
No interest in showing off wealth but keen to understand why many people seem so confident about taking big loans, although I believe our financial condition is healthier than many..
Some see this as a different asset class... Some see this as a huge liability. Depends on which side of the balance sheet you look at. I am learning to see everything from a different perspective.
My elder son is 1 year old, and younger son is coming soon in 1-2 weeks time.
My wife and myself are 35 year old, working in back end office of a foreign bank. Household income is around 7k+, with disposal income of 2k+ from my parent's HDB flat.
ops? frankly speaking, u should leave that bank if that's what they pay..
yes this is our situation.. kia si.. else won't bother to think so hard liao..
Hi. Could you mind revealing what career/professional are you in? Why do you claim that the PA income of 450k is only guaranteed for 2-3 years?
ops? frankly speaking, u should leave that bank if that's what they pay..
Hi. Yes, I am working in the ops, operation under investment area - settlement etc.
My wife is in the same team as me.
Hi. Could you mind revealing what career/professional are you in? Why do you claim that the PA income of 450k is only guaranteed for 2-3 years?
we're both in financial services.. high risk sector and will continue to be like that in the foreseeable future.. 2-3 yrs purely gut feel..
Do you mean admin?
Hi. Yes, I am working in the ops, operation under investment area - settlement etc.
My wife is in the same team as me.
we're both in financial services.. high risk sector and will continue to be like that in the foreseeable future.. 2-3 yrs purely gut feel..
I see; you are in a sales/relationship style of career.
How about your PC? A FH or 99 LH then? You have a healthy annual income and it should be good to pay off as much as possible.
Do you mean admin?
No. It is more than daily administrative job. It needs expertise, knowledge to handle the trade settlement etc.
I do everything (bonds, certificates, equity-linked notes, securities and UTs)
Hi. Yes, I am working in the ops, operation under investment area - settlement etc.
My wife is in the same team as me.
some foreign banks are aggressively moving their BO functions to India.. I think local banks are safer, and their compensations are also catching up.
some foreign banks are aggressively moving their BO functions to India.. I think local banks are safer, and their compensations are also catching up.
Yes, you are right. The bank which my wife and myself work for is down-sizing the department(s) respectively and gradually.
I am uncertain if our jobs will be secure then.
Do you have any opportunities for me or/and my wife then?
I see; you are in a sales/relationship style of career.
How about your PC? A FH or 99 LH then? You have a healthy annual income and it should be good to pay off as much as possible.
it's a 99 LH. I'm hoping to continue to save aggressively and payoff quickly. but still can't help worrying about the loan vs retirement..
Have senior colleagues that think alike and did not invest & worry about old age & retirement. Successful Businessmen have learnt the art of leveraging. They leverage on good people who helps them to make more money. They leverage on banks people to grow their business. The more successful ones list their company. However, one must always leverage with calculated risk & fall back plan. Timing of investment is crucial. Do your research and do not hearsay or follow heard mentality. Invest with this in mind & leave emotion out of the equation. Good luck.
retirement is always at the back of our large ticket financial decisions esp no kids when we get old. Few yrs ago when we had some cash to buy a 2nd property, we didn't go ahead cos we were concern abt the big leverage which if not careful, means we'll be in trouble at retirement. now we're looking at passive income at retirement, which rental seems to be a good option. different stages of life..?
No interest in showing off wealth but keen to understand why many people seem so confident about taking big loans, although I believe our financial condition is healthier than many..
Yes, you are right. The bank which my wife and myself work for is down-sizing the department(s) respectively and gradually.
I am uncertain if our jobs will be secure then.
Do you have any opportunities for me or/and my wife then?
I don't work in Ops but let me ask around..
it's a 99 LH. I'm hoping to continue to save aggressively and payoff quickly. but still can't help worrying about the loan vs retirement..
You are worrying too much. Your home (HDB or PC) is already a passive vehicle to generate passive income for your retirement, unless your wife and yourself want to indulge in quality high end lifestyle?
Could you share your age profile again?
I don't work in Ops but let me ask around..
No worries; I am asking on behalf of my wife. She will be giving birth in 1-2 weeks time and I am worried that my company will find a reason to remove her.
Despite delivering soon, she still needs to report to work and we have to squeeze into the daily SMRT to report work.
ikan bilis
20-05-12, 17:15
yes this is our situation.. kia si.. else won't bother to think so hard liao..
nothing wrong to be cautious/conservative...
from what i feel, the sgp govt also kiasu and made wrong policy => in 2008/9 reduce hdb build to <10K, and allow pte property owners to buy back hdb
we are suppose to be in some great depression right now if don;t have Fed Ben's QE1 & QE2... all the people around me never expected our situation today...
;)
You are worrying too much. Your home (HDB or PC) is already a passive vehicle to generate passive income for your retirement, unless your wife and yourself want to indulge in quality high end lifestyle?
Could you share your age profile again?
late 30.. we have very simple and prudent lifestyle e.g. no car/kids. pc is an attempt to upgrade our living environment (not standard) esp when our retirement is fast approaching :)
No worries; I am asking on behalf of my wife. She will be giving birth in 1-2 weeks time and I am worried that my company will find a reason to remove her.
Despite delivering soon, she still needs to report to work and we have to squeeze into the daily SMRT to report work.
good news is these foreign banks are very careful about their reputations, so your wife should be safe at least until when she returns from maternity
We are in very delicate & uncertain situation in the next few months. Wait for opportunities.
nothing wrong to be cautious/conservative...
from what i feel, the sgp govt also kiasu and made wrong policy => in 2008/9 reduce hdb build to <10K, and allow pte property owners to buy back hdb
we are suppose to be in some great depression right now if don;t have Fed Ben's QE1 & QE2... all the people around me never expected our situation today...
;)
late 30.. we have very simple and prudent lifestyle e.g. no car/kids. pc is an attempt to upgrade our living environment (not standard) esp when our retirement is fast approaching :)
You can afford to get another one to build passive stream of income when both of you retired. Alternatively, both of you can get a typical MM style unit where it will be your retirement nest and the remaining two units will meant for the rental revenue generator(s).
We are in very delicate & uncertain situation in the next few months. Wait for opportunities.
When the situation breaks out, there will be more uncertainties then.
Could you shed more light in the "opportunities" available quoted from you?
You can afford to get another one to build passive stream of income when both of you retired. Alternatively, both of you can get a typical MM style unit where it will be your retirement nest and the remaining two units will meant for the rental revenue generator(s).
don't think we'll consider a 3rd one - still feel safer with cash. we'll probably live in the pc for some yrs, and if there's a need to increase cash flow, then move back to hdb and rent out pc.
But not property. Look out for undervalued blue chips but not now. Beware of certain bonds, gold & commodities? Waiting for good buy in London property. Watch after Olympic.
When the situation breaks out, there will be more uncertainties then.
Could you shed more light in the "opportunities" available quoted from you?
rattydrama
20-05-12, 17:45
don't think we'll consider a 3rd one - still feel safer with cash. we'll probably live in the pc for some yrs, and if there's a need to increase cash flow, then move back to hdb and rent out pc.
base on your risk appetite, I guess you will jump in if there is a correction. Its not wrong to hold tons of cash now.
what can be said is that property and gold is still the best hedge against inflation. For property, everyone need a roof in our small island, the price will not drop dead, so can class it as portion of yr retirement fund.
With so many cms, I doubt the ppty price will drop 40%. Our gov just need to twist the policy around.
some very smart cheong pte condo liow and then buy back another hdb before 30 Aug 2010...
Guru, dun suan me leh
Of cos I got my story why I go for condo first....
In 2003, when we want to get our first house, we are under unique situation where we are not allow to buy bto and left over Hdb units; that time sengkang so many EA left over....Serangoon central 4A resale around 280k; we find the resale high price and old, so end up buy new launch 2rm condo ard 420k in far north(bec cheapest lor)... that time kerrisdale 2rm 450k, city sq 500k++, citylights 600k...
In 2008, when I see condos in other area price cheong Liao, but mine lag behind, then I understand location x3... I sold it on end 2008, then alternating between parents and inlaws house... Then prices start to slide... We want to buy a home back... U go see the first thread I started, with 800k budget, I wishfully hope to find freehold in d11 :D. The closest that get into our range was Amaryllis Ville 900k++, but west sun.
Until in apr09, I got impatient and also realize the resale projects we viewed seems to increase in price... I was really very stress then, bec i scare we might not able to afford pc anymore (kia su)...
So, we change target district, got the rcr near mrt resale tenanted unit... Why tenanted? Bec still Kia Si mah, collect rent to service installment feel safer...
Until early 2010, bey tahan liao, want to have our own home, so go buy resale Hdb... I already dam suay to kena 3yr mop, bec a bit earlier my mop only 1yr...
so i dun have chance to get grant from bto hdb, but maybe it is a blessing in disguise :)
i may not be the very very very newbie, but compare the many here with multiple prop, of cos i very newbie lah; and this forum indeed did teach me quite many things about property.
End of story...
rattydrama
20-05-12, 19:22
taggy, good timing in disguise!! :p I see see look look so many years but nvr buy anything...and seeing the price went up and down again still nvr buy..good for you!
so morale of the story, must buy something and anything, in particular when market is down wahahaha..price will nvr go to old low but new heights.
ikan bilis
20-05-12, 19:27
Guru, dun suan me leh
Of cos I got my story why I go for condo first....
In 2003, when we want to get our first house, we are under unique situation where we are not allow to buy bto and left over Hdb units; that time sengkang so many EA left over....Serangoon central 4A resale around 280k; we find the resale high price and old, so end up buy new launch 2rm condo ard 420k in far north(bec cheapest lor)... that time kerrisdale 2rm 450k, city sq 500k++, citylights 600k...
In 2008, when I see condos in other area price cheong Liao, but mine lag behind, then I understand location x3... I sold it on end 2008, then alternating between parents and inlaws house... Then prices start to slide... We want to buy a home back... U go see the first thread I started, with 800k budget, I wishfully hope to find freehold in d11 :D. The closest that get into our range was Amaryllis Ville 900k++, but west sun.
Until in apr09, I got impatient and also realize the resale projects we viewed seems to increase in price... I was really very stress then, bec i scare we might not able to afford pc anymore (kia su)...
So, we change target district, got the rcr near mrt resale tenanted unit... Why tenanted? Bec still Kia Si mah, collect rent to service installment feel safer...
Until early 2010, bey tahan liao, want to have our own home, so go buy resale Hdb... I already dam suay to kena 3yr mop, bec a bit earlier my mop only 1yr...
so i dun have chance to get grant from bto hdb, but maybe it is a blessing in disguise :)
i may not be the very very very newbie, but compare the many here with multiple prop, of cos i very newbie lah; and this forum indeed did teach me quite many things about property.
End of story...
haha... bro, no suan lah... you guys are really not "newbie"... you had been holding pte condo longer than me... and me no guru...
few regulars including me are surprised with the buying capability/firepower of you guys... we were more like expecting hdb upgraders, or young successful singles to enter MM...
and thank for sharing your encounter... it could be coincident but you got all the good timing in buying PC and hdb... :cheers4:
to summarise: => you guys are no way newbie,... the real newbies had not come to this forum yet...
:rolleyes: ;)
pinkpolkadot
20-05-12, 19:30
I bought a PC for own stay, TOP in 3 years time. I am staying in a 5 room HDB in Tiong Bahru area. 29 years old unit but still solid. Question is shall I sell or rent it out after 3 years? considering the lease life is diminishing. What kind of rental can fetch if it is 8 minutes slow walk to MRT and fully furnished?
rattydrama
20-05-12, 19:32
I bought a PC for own stay, TOP in 3 years time. I am staying in a 5 room HDB in Tiong Bahru area. 29 years old unit but still solid. Question is shall I sell or rent it out after 3 years? considering the lease life is diminishing. What kind of rental can fetch if it is 8 minutes slow walk to MRT and fully furnished?
you should keep it. tiong bahru is a good location. I suspect you can fetch 3k rental easily.
haha... bro, no suan lah... you guys are really not "newbie"... you had been holding pte condo longer than me... and me no guru...
few regulars including me are surprised with the buying capability/firepower of you guys... we were more like expecting hdb upgraders, or young successful singles to enter MM...
and thank for sharing your encounter... it could be coincident but you got all the good timing in buying PC and hdb... :cheers4:
to summarise: => you guys are no way newbie,... the real newbies had not come to this forum yet...
:rolleyes: ;)
:cheers4: the best part of this forum is for sharing knowledge and for us to tcss :D
Hi. Yes, I am working in the ops, operation under investment area - settlement etc.
My wife is in the same team as me.
Husband and wife in the same team? No restriction in your company?
hi newbie here
Me and my wife is currently staying in a FH 2 brm condo near siglap area. The condo was bought at low price in 2009. We have no kids. We are planning to get another 2 brm apartment for own stay possibly at hougang, pasir ris or even yishun area.
Question is : with the current market condition, should I sell my current condo or keep it for rental?
Thanks
Such a waste to switch from siglap to housing, pasir ris area. siglap area has good potential.
late 30.. we have very simple and prudent lifestyle e.g. no car/kids. pc is an attempt to upgrade our living environment (not standard) esp when our retirement is fast approaching :)At late 30s, you are implying retirement is fast approaching? You plan to retire at 40? :)
At late 30s, you are implying retirement is fast approaching? You plan to retire at 40? :)
I quite like the idea!
Actually your retirement can be made earlier as long as you can see that there are not THAT many things in life you die die must have.
Think this way - the BMW you want to buy is worth 2-3 years savings, you will need to work another 2-3 years just to afford that. Is the car worth your 2-3 years slogging in the office ?
For Office Boy like me, it will be is the BMW worth the extra 8-10 years of doing photocopying, buy stationeries, answer phone calls, etc ?
Until my answer is YES! (ie the sense of pride of owning that car is worth the slogging - remember to each their own), I will choose to retire earlier.
DKSG
Guru, dun suan me leh
Of cos I got my story why I go for condo first....
In 2003, when we want to get our first house, we are under unique situation where we are not allow to buy bto and left over Hdb units; that time sengkang so many EA left over....Serangoon central 4A resale around 280k; we find the resale high price and old, so end up buy new launch 2rm condo ard 420k in far north(bec cheapest lor)... that time kerrisdale 2rm 450k, city sq 500k++, citylights 600k...
In 2008, when I see condos in other area price cheong Liao, but mine lag behind, then I understand location x3... I sold it on end 2008, then alternating between parents and inlaws house... Then prices start to slide... We want to buy a home back... U go see the first thread I started, with 800k budget, I wishfully hope to find freehold in d11 :D. The closest that get into our range was Amaryllis Ville 900k++, but west sun.
Until in apr09, I got impatient and also realize the resale projects we viewed seems to increase in price... I was really very stress then, bec i scare we might not able to afford pc anymore (kia su)...
So, we change target district, got the rcr near mrt resale tenanted unit... Why tenanted? Bec still Kia Si mah, collect rent to service installment feel safer...
Until early 2010, bey tahan liao, want to have our own home, so go buy resale Hdb... I already dam suay to kena 3yr mop, bec a bit earlier my mop only 1yr...
so i dun have chance to get grant from bto hdb, but maybe it is a blessing in disguise :)
i may not be the very very very newbie, but compare the many here with multiple prop, of cos i very newbie lah; and this forum indeed did teach me quite many things about property.
End of story...You then guru lah... venture into D11 and now got RCR unit... You kia si also a kia si guru! Lol! :cheers5:
I quite like the idea!
Actually your retirement can be made earlier as long as you can see that there are not THAT many things in life you die die must have.
Think this way - the BMW you want to buy is worth 2-3 years savings, you will need to work another 2-3 years just to afford that. Is the car worth your 2-3 years slogging in the office ?
For Office Boy like me, it will be is the BMW worth the extra 8-10 years of doing photocopying, buy stationeries, answer phone calls, etc ?
Until my answer is YES! (ie the sense of pride of owning that car is worth the slogging - remember to each their own), I will choose to retire earlier.
DKSGMe thinking of retiring since 3 years back but now still see no light at the end of tunnel. Hey, wait, think I'm seeing some light though but realised its the start of the tunnel in my rear view mirror! :scared-5:
Me thinking of retiring since 3 years back but now still see no light at the end of tunnel. Hey, wait, think I'm seeing some light though but realised its the start of the tunnel in my rear view mirror! :scared-5:
You are certainly a rare talent at Humour!
You dont see The Light because you keep blocking the end (the one in front) with LV bags, BMWs, extra PCs, branded stuff, etc). Remove all these, you will see it.
DKSG
Have friends retired at 40 & migrated to australia. Do some property investments in Australia & locally. Having great relaxing life for the family in particular the children.
At late 30s, you are implying retirement is fast approaching? You plan to retire at 40? :)
You are certainly a rare talent at Humour!
You dont see The Light because you keep blocking the end (the one in front) with LV bags, BMWs, extra PCs, branded stuff, etc). Remove all these, you will see it.
DKSG
target by 45. as u said, if we keep life simple then really don't have to cheong till 60+ then retire right?
Have friends retired at 40 & migrated to australia. Do some property investments in Australia & locally. Having great relaxing life for the family in particular the children.Actually even if I can stop working at 40, I'm fearful coz I may not be used to that sort of lifestyle. Think I might continue to work and know that I'm not dependent on the job so can take things much much easier! Smile when others are all getting stressed! :)
Actually even if I can stop working at 40, I'm fearful coz I may not be used to that sort of lifestyle. Think I might continue to work and know that I'm not dependent on the job so can take things much much easier! Smile when others are all getting stressed! :)
retirement = u don't have to stare at the payroll :)
You are certainly a rare talent at Humour!
You dont see The Light because you keep blocking the end (the one in front) with LV bags, BMWs, extra PCs, branded stuff, etc). Remove all these, you will see it.
DKSGSigh... me no LV, BMW or branded stuff and still at the start of the tunnel. If add these stuff, think I'm still outside the tunnel waiting to enter it! :banghead:
target by 45. as u said, if we keep life simple then really don't have to cheong till 60+ then retire right?
Yes! Smart ommmm!
DKSG
Sigh... me no LV, BMW or branded stuff and still at the start of the tunnel. If add these stuff, think I'm still outside the tunnel waiting to enter it! :banghead:
You certainly need help then!
Buy the gurus here some dinner and ask them to show you the way!
Maybe you missed a shortcut somewhere.
You know, its like walking in IKEA, if you take certain short cuts, you end up in the canteen much earlier than others!
DKSG
Will not want to retire too early but create the ready choice to retire. Still working towards it. Hope to achieve it in less than 5 years.
Actually even if I can stop working at 40, I'm fearful coz I may not be used to that sort of lifestyle. Think I might continue to work and know that I'm not dependent on the job so can take things much much easier! Smile when others are all getting stressed! :)
You certainly need help then!
Buy the gurus here some dinner and ask them to show you the way!
Maybe you missed a shortcut somewhere.
You know, its like walking in IKEA, if you take certain short cuts, you end up in the canteen much earlier than others!
DKSGLol.. me at IKEA today and took the short cuts like you mentioned... well, its about making decisions on what kind of lifestyle you want and not regretting it later. Even if you regret, quickly tune back and remind yourself your initial reasons for those earlier decisions. Until such times that those reasons no longer make sense, then you just go ahead and indulge and delay retirement by 1 or 2 years lor... :o
this is a very entertaining nite in reading the postings here.....
thanks to all the faceless friends.....
wah...u guys thinking of early retirement leading to more dropping out of the workforce earlier, IPS will miscalculate. More FT needed. ;)
wah...u guys thinking of early retirement leading to more dropping out of the workforce earlier, IPS will miscalculate. More FT needed. ;)Me want to retire but does not mean will stop working... so don't worry. I'll not contribute to the need for FT. I'll work part time! :)
Lol.. me at IKEA today and took the short cuts like you mentioned... well, its about making decisions on what kind of lifestyle you want and not regretting it later. Even if you regret, quickly tune back and remind yourself your initial reasons for those earlier decisions. Until such times that those reasons no longer make sense, then you just go ahead and indulge and delay retirement by 1 or 2 years lor... :o
It will always start with "just 1-2 year more", then the 1-2 years get multiplied 10-20 times... then VOILA! You are 60++ already!
Office Boy is trying not to fall in to that trap!
Bought a car 2-3 years back ... and got my retirement extended x years!
:scared-1::scared-1::scared-1:
DKSG
Me want to retire but does not mean will stop working... so don't worry. I'll not contribute to the need for FT. I'll work part time! :)
Nice, semi-retire @ at a slower pace:cheers4:
IMO retirement is not about compromising of lifestyle. In fact, lifestyle should be the same as before retirement. Passive equal or more than active income. :)
target by 45. as u said, if we keep life simple then really don't have to cheong till 60+ then retire right?
phantom_opera
20-05-12, 21:52
Don't worry, we will arrive at same state as Japan or UK in another 5y time when inflation is 7% per year ... it will be cheaper to travel (don't expect staying in 5* hotel) than staying in Singapoor .. once my kid go study overseas ... just rent out all properties and travel on shoestring :cheers5:
IMO retirement is not about compromising of lifestyle. In fact, lifestyle should be the same as before retirement. Passive equal or more than active income. :)
We are talking about the lifestyle.
If we relook at our current lifestyle - the wine and dine - and decide this what we want when retire and it will take another 10 more years of hard work, and it worth it, then by all means slog another 10 years!
But if we relook our lifestyle and note that our lives can be much more simpler, no need to wine and dine, no need BMW, no need D9,10,11 condo, and that frees us to retire 10 years earlier, then why not ?
I have to stress that these are all personal choices, there is no right or wrong answers.
DKSG
It is rather personal. Does not want a downgrade. Look at the wealthy ones. :beats-me-man:
We are talking about the lifestyle.
If we relook at our current lifestyle - the wine and dine - and decide this what we want when retire and it will take another 10 more years of hard work, and it worth it, then by all means slog another 10 years!
But if we relook our lifestyle and note that our lives can be much more simpler, no need to wine and dine, no need BMW, no need D9,10,11 condo, and that frees us to retire 10 years earlier, then why not ?
I have to stress that these are all personal choices, there is no right or wrong answers.
DKSG
phantom_opera
20-05-12, 22:04
I quote the famous:
“How much do you want? Do you want three meals in a hawker centre, food court or restaurant?”
or Sultan Fish at MBS?
http://static.soshiok.com/action/PageImage/12333.jpg
We are talking about the lifestyle.
If we relook at our current lifestyle - the wine and dine - and decide this what we want when retire and it will take another 10 more years of hard work, and it worth it, then by all means slog another 10 years!
But if we relook our lifestyle and note that our lives can be much more simpler, no need to wine and dine, no need BMW, no need D9,10,11 condo, and that frees us to retire 10 years earlier, then why not ?
I have to stress that these are all personal choices, there is no right or wrong answers.
DKSG
i'll look more into the expenses i expect than worry about replacement income. u should expect some to drop e.g. mortgage payment, taxes, while some will increase e.g. medical bills, dining out, etc. if u look at them closely, u probably don't need so much "wants" which if u could afford then good, else u'll likely start to adjust lifestyle (not necessarily compromise i feel).
personal choice yes! :)
Why not have choice in life rather than no choice.:D
I quote the famous:
“How much do you want? Do you want three meals in a hawker centre, food court or restaurant?”
or Sultan Fish at MBS?
http://static.soshiok.com/action/PageImage/12333.jpg
Why not have choice in life rather than no choice.:D
your mrs will not always agree :D
We are working very closely towards this goal not just for ourselves but for our children given the ever competitive environment.
your mrs will not always agree :D
your mrs will not always agree :D
If the choice is free one ok la!
If you want to have a choice to stay in Pasir Ris or The MarQ, then you will have to work extra many many years lo!
For Office Boy, if I want a choice to stay in The MarQ, I will have to sell my next few life time to be able to even think about it!
Choices comes will costs, so dont over choice your life!
DKSG
phantom_opera
20-05-12, 22:18
If the choice is free one ok la!
If you want to have a choice to stay in Pasir Ris or The MarQ, then you will have to work extra many many years lo!
For Office Boy, if I want a choice to stay in The MarQ, I will have to sell my next few life time to be able to even think about it!
Choices comes will costs, so dont over choice your life!
DKSG
Good point
http://cdn.thedailybeast.com/content/newsweek/2012/04/15/what-money-can-t-buy-michael-sandel-on-market-moralism-run-amok/_jcr_content/body/inlineimage.img.503.jpg/1334438170311.cached.jpg
Harvard rock-star Sandel challenges all of us to look at how we’ve allowed markets to pervade our public life. He argues that the spread of market philosophy has created what he calls “a consumerist idea of freedom,” in which we think our highest freedom is what we consume. Our obsession with consumption limits our freedom to engage in a full civic life
Good point
http://cdn.thedailybeast.com/content/newsweek/2012/04/15/what-money-can-t-buy-michael-sandel-on-market-moralism-run-amok/_jcr_content/body/inlineimage.img.503.jpg/1334438170311.cached.jpg
Harvard rock-star Sandel challenges all of us to look at how we’ve allowed markets to pervade our public life. He argues that the spread of market philosophy has created what he calls “a consumerist idea of freedom,” in which we think our highest freedom is what we consume. Our obsession with consumption limits our freedom to engage in a full civic life
Confirm. Chop. Sign.
It creates insanity and vicious, damaged minds. Esp those who everyday pray, hope, obsessed over 50% drop by 2015! That everyone will be poor except himself!
Our highest freedom is our ability to choose what we want, not what others tell us what we want. Thats why many people get stuck in high paying jobs doing work that is nonsense when viewed from their own personal life!
DKSG
Confirm. Chop. Sign.
It creates insanity and vicious, damaged minds. Esp those who everyday pray, hope, obsessed over 50% drop by 2015! That everyone will be poor except himself!
Our highest freedom is our ability to choose what we want, not what others tell us what we want. Thats why many people get stuck in high paying jobs doing work that is nonsense when viewed from their own personal life!
DKSG
...Like...!
phantom_opera
20-05-12, 22:36
Confirm. Chop. Sign.
It creates insanity and vicious, damaged minds. Esp those who everyday pray, hope, obsessed over 50% drop by 2015! That everyone will be poor except himself!
Our highest freedom is our ability to choose what we want, not what others tell us what we want. Thats why many people get stuck in high paying jobs doing work that is nonsense when viewed from their own personal life!
DKSG
桑德尔认为，问题的核心在于不同人群对美好生活的不同定义。正因为人们避免在公共领域对此表达自己的道德信仰，所遗留出来的空间便让市场趁虚而入，结果是公共政策的讨论缺乏道德与精神面向，金钱的算计凌驾了一切。他说，贫富悬殊导致社会分化，不同阶层过着互不相干的生活，这必然削弱作为生活方式的民主政治。桑德尔说：“关于市场的问题其实是关于我们要如何共同生活在一起的问题。”
It is so obvious in Singapore:
Baby bonus and tax break, childcare subsidy, ABSD SSD ERP COE :doh:
桑德尔认为，问题的核心在于不同人群对美好生活的不同定义。正因为人们避免在公共领域对此表达自己的道德信仰，所遗留出来的空间便让市场趁虚而入，结果是公共政策的讨论缺乏道德与精神面向，金钱的算计凌驾了一切。他说，贫富悬殊导致社会分化，不同阶层过着互不相干的生活，这必然削弱作为生活方式的民主政治。桑德尔说：“关于市场的问题其实是关于我们要如何共同生活在一起的问题。”
It is so obvious in Singapore:
Baby bonus and tax break, childcare subsidy, ABSD SSD ERP COE :doh:
You Chinese quite the cheem, is this taken from the translated version of the book?
I go buy this book tomorrow! Engrish version.
DKSG
PS : Got Singlish one I will buy the Singlish verson.
danieltangtc
20-05-12, 23:31
桑德尔认为，问题的核心在于不同人群对美好生活的不同定义。正因为人们避免在公共领域对此表达自己的道德信仰，所遗留出来的空间便让市场趁虚而入，结果是公共政策的讨论缺乏道德与精神面向，金钱的算计凌驾了一切。他说，贫富悬殊导致社会分化，不同阶层过着互不相干的生活，这必然削弱作为生活方式的民主政治。桑德尔说：“关于市场的问题其实是关于我们要如何共同生活在一起的问题。”
It is so obvious in Singapore:
Baby bonus and tax break, childcare subsidy, ABSD SSD ERP COE :doh:
er, English please. I really really cannot read that. Chinese all return to teacher after sec 4:D
er, English please. I really really cannot read that. Chinese all return to teacher after sec 4:D
can use translate.google.com :D
danieltangtc
21-05-12, 00:11
can use translate.google.com :D
Sandel believes that the core of the problem lies in the different definitions of the different groups of people for a better life. Precisely because people avoid this in the public sphere to express their moral beliefs, left out of the space would allow the market to swoop in, the result is the lack of public policy discussions of moral and spiritual oriented calculations of money overrides all. He said the disparity between the rich and the poor lead to social differentiation, different walks of life to live unrelated, this will inevitably undermine the democratic politics as a way of life. Zander said: "The market is in fact on the question of how we can live together."
Wow this works?
It will always start with "just 1-2 year more", then the 1-2 years get multiplied 10-20 times... then VOILA! You are 60++ already!
Office Boy is trying not to fall in to that trap!
Bought a car 2-3 years back ... and got my retirement extended x years!
:scared-1::scared-1::scared-1:
DKSGWell, car is always a functional tool that I can sell away should I stop working or go into part time so no need to extend retirement plans by x years. Maybe to earn back the additional amount you loss in a car ownership (cost of driving - cost of taking public transport including taxi), you just need to work x months up to a year. i.e., if one month you use additional $600 in driving a car and you drove for 5 years, you spend additional $36 000 = less than annual salary of most who dare to buy a car. :cool:
Unfortunately car is depreciating and a liability for most of us.
Well, car is always a functional tool that I can sell away should I stop working or go into part time so no need to extend retirement plans by x years. Maybe to earn back the additional amount you loss in a car ownership (cost of driving - cost of taking public transport including taxi), you just need to work x months up to a year. i.e., if one month you use additional $600 in driving a car and you drove for 5 years, you spend additional $36 000 = less than annual salary of most who dare to buy a car. :cool:
Some people realise it and change job when they have accumulate sufficient or have enough of crap.
Confirm. Chop. Sign.
It creates insanity and vicious, damaged minds. Esp those who everyday pray, hope, obsessed over 50% drop by 2015! That everyone will be poor except himself!
Our highest freedom is our ability to choose what we want, not what others tell us what we want. Thats why many people get stuck in high paying jobs doing work that is nonsense when viewed from their own personal life!
DKSG
late 30.. we have very simple and prudent lifestyle e.g. no car/kids. pc is an attempt to upgrade our living environment (not standard) esp when our retirement is fast approaching :)
OMG! no kid is a prudent lifestyle?
OMG! no kid is a prudent lifestyle?
and having kids is an extravagance?!:scared-5:
Unfortunately car is depreciating and a liability for most of us.Yes... cars in most countries are a liability except in Singapore in recent times when the COE spiraled out of control allowing some car owners to sell their 2nd car and still make a slight profit after driving the car for a year or 2. Hmmm... strange phenomenon but true... :confused:
phantom_opera
21-05-12, 10:26
lol ... kid is perceived as liability ... so it is prudent not to take up liability
very simple to encourage people to have kids in a market-driven economy, kids must be asset:
1. 90% discount to COE once you have 2 kids
2. Can cut queue when having kids everywhere you go, movies, airport, arts center, applying HDB in mature estate
3. lucky draw to have free HDB, one kid one chance, chance of winning is 1/10,000 ... and then followed by draw for condo, chance of winning is 1/100,000
4. Waive credit card fees and discount to credit card interest rate up to 80% once you have kids
5. Free rides on MRT/buses for kids up to PSLE
what do u think? :cheers5:
Society is changing. Got a few colleagues who are married w/o kids. They are enjoying life by having nice cars and house. One of them just collected money from CPF realises the insecurity of not having children.:ashamed1:
and having kids is an extravagance?!:scared-5:
Point 5 not true. Now goes by height not age.
lol ... kid is perceived as liability ... so it is prudent not to take up liability
very simple to encourage people to have kids in a market-driven economy, kids must be asset:
1. 90% discount to COE once you have 2 kids
2. Can cut queue when having kids everywhere you go, movies, airport, arts center, applying HDB in mature estate
3. lucky draw to have free HDB, one kid one chance, chance of winning is 1/10,000 ... and then followed by draw for condo, chance of winning is 1/100,000
4. Waive credit card fees and discount to credit card interest rate up to 80% once you have kids
5. Free rides on MRT/buses for kids up to PSLE
what do u think? :cheers5:
lol ... kid is perceived as liability ... so it is prudent not to take up liability
very simple to encourage people to have kids in a market-driven economy, kids must be asset:
1. 90% discount to COE once you have 2 kids
2. Can cut queue when having kids everywhere you go, movies, airport, arts center, applying HDB in mature estate
3. lucky draw to have free HDB, one kid one chance, chance of winning is 1/10,000 ... and then followed by draw for condo, chance of winning is 1/100,000
4. Waive credit card fees and discount to credit card interest rate up to 80% once you have kids
5. Free rides on MRT/buses for kids up to PSLE
what do u think? :cheers5:
in pt 3, your odds are even better than winning jackpot at Toto. i'm a convert liao
Hi!
I'm a newbie. Sorry to cut in to post a question. I was wondering which FH project is worth a consideration for own stay with good capital appreciation. I will be looking at around year 2015. I believe it is a bit kiasu as I need to do research from now till 2015. But if the price drop quite drastic in near future I would just grab it before 2015. Thanks a lot in advance!
rattydrama
21-05-12, 13:01
and having kids is an extravagance?!:scared-5:
kids give you the motivation to work harder.
rattydrama
21-05-12, 13:03
Yes... cars in most countries are a liability except in Singapore in recent times when the COE spiraled out of control allowing some car owners to sell their 2nd car and still make a slight profit after driving the car for a year or 2. Hmmm... strange phenomenon but true... :confused:
I concur..free ride for the last 3 years. :D entry price is key. lowest to get is 40k for a brand new avente.
rattydrama
21-05-12, 13:06
these are just incentive for the not so rich... 450kpa will not need these to exchange for freedom and responsibility.
lol ... kid is perceived as liability ... so it is prudent not to take up liability
very simple to encourage people to have kids in a market-driven economy, kids must be asset:
1. 90% discount to COE once you have 2 kids
2. Can cut queue when having kids everywhere you go, movies, airport, arts center, applying HDB in mature estate
3. lucky draw to have free HDB, one kid one chance, chance of winning is 1/10,000 ... and then followed by draw for condo, chance of winning is 1/100,000
4. Waive credit card fees and discount to credit card interest rate up to 80% once you have kids
5. Free rides on MRT/buses for kids up to PSLE
what do u think? :cheers5:
rattydrama
21-05-12, 13:08
Society is changing. Got a few colleagues who are married w/o kids. They are enjoying life by having nice cars and house. One of them just collected money from CPF realises the insecurity of not having children.:ashamed1:
smart one will adopt one if they cannt have their own.
rattydrama
21-05-12, 13:09
depending on your budget, size and location you want. do you have any project in mind?
Hi!
I'm a newbie. Sorry to cut in to post a question. I was wondering which FH project is worth a consideration for own stay with good capital appreciation. I will be looking at around year 2015. I believe it is a bit kiasu as I need to do research from now till 2015. But if the price drop quite drastic in near future I would just grab it before 2015. Thanks a lot in advance!
I do not have any projects in mind. I'm looking into areas where good quality of air and capital appreciation. I live in city area and I do not like the air quality and I went to my relative house in sengkang which the air quality is better than city area.
Good point
http://cdn.thedailybeast.com/content/newsweek/2012/04/15/what-money-can-t-buy-michael-sandel-on-market-moralism-run-amok/_jcr_content/body/inlineimage.img.503.jpg/1334438170311.cached.jpg
Harvard rock-star Sandel challenges all of us to look at how we’ve allowed markets to pervade our public life. He argues that the spread of market philosophy has created what he calls “a consumerist idea of freedom,” in which we think our highest freedom is what we consume. Our obsession with consumption limits our freedom to engage in a full civic life
greed have no boundary :D:D:D
Decksurgeon
21-05-12, 19:24
Just to intro myself, keen interest in watches and fast cars.
- wifey and me are late 20s/early 30s
- never bought/ owned hdb due to income not qualifying.
- combined dual-income of ard SGD700-800k p.a. for wy 2012. <2011 combined max of 350k
- cash + CPF of less than 100K (due to recent purchase)
In my earlier years, lots of money spent buying, selling and modding fast cars. Decided on family planning in recent 1 to 2 years.
Our portfolio includes- FH condo unit in D10, 50% paid up, outstanding loan 1.26m. in my name
-FH semi D house in north (just secured this month with what remaining cash I have), 30% paid up, owing 1.74m)
Not willing to work pass 50years of age due to extreme stress, unpredictably long work hours, depression and suicide risk. Would prefer to pursue interest in motorsport and move on the exotic segments if finances allow.
-both properties rented out with positve cashflow for PC and mild negative for landed.
-staying with folks
so, how shld we play this property game?
Sibei Hao lian
With this kind of $$$$ seriously...can hamtam here and there also painless..lol
From investment point of view , fixed asset seem to be better for long run.
From personal point of view....just go buy landed and don't compete with us la =P just kidding.."envy" http://forums.condosingapore.com/images/icons/icon11.gif
Decksurgeon
21-05-12, 19:47
With this kind of $$$$ seriously...can hamtam here and there also painless..lol
From investment point of view , fixed asset seem to be better for long run.
From personal point of view....just go buy landed and don't compete with us la =P just kidding.."envy" http://forums.condosingapore.com/images/icons/icon11.gif
trust me my friend, fussy singaporeans are a real pain in my practice. Money is earned hard and slow.
Unwillingness to work beyond 50 is now revised to 40 (in addition to your normal work hours, I also work nights weekends)
trust me my friend, fussy singaporeans are a real pain in my practice. Money is earned hard and slow.
Unwillingness to work beyond 50 is now revised to 40 (in addition to your normal work hours, I also work nights weekends)
make sure u retire then!
In Investment banking?
Sibei Hao lian
Create another nick and nit it lor.
Decksurgeon
21-05-12, 19:56
make sure u retire then!
In Investment banking?
Investment banking I wish...wife n I are both docs with me in surgery and wife in oil trading
Investment banking I wish...wife n I are both docs with me in surgery and wife in oil trading
you a cosmetic surgeon? that's why singaporeans so fussy :)
other surgeries where got fussy
Investment banking I wish...wife n I are both docs with me in surgery and wife in oil trading
What is a dr doing in oil trading or am I understanding this wrongly?
Decksurgeon
21-05-12, 20:19
you a cosmetic surgeon? that's why singaporeans so fussy :)
other surgeries where got fussy
spot on my friend.
hey decksurgeon,
think i came across ur posts in swx/ sg-roc past few years... nice pics of the timepieces. :cheers5:
Just to intro myself, keen interest in watches and fast cars.
- wifey and me are late 20s/early 30s
- never bought/ owned hdb due to income not qualifying.
- combined dual-income of ard SGD700-800k p.a. for wy 2012. <2011 combined max of 350k
- cash + CPF of less than 100K (due to recent purchase)
In my earlier years, lots of money spent buying, selling and modding fast cars. Decided on family planning in recent 1 to 2 years.
Our portfolio includes- FH condo unit in D10, 50% paid up, outstanding loan 1.26m. in my name
-FH semi D house in north (just secured this month with what remaining cash I have), 30% paid up, owing 1.74m)
Not willing to work pass 50years of age due to extreme stress, unpredictably long work hours, depression and suicide risk. Would prefer to pursue interest in motorsport and move on the exotic segments if finances allow.
-both properties rented out with positve cashflow for PC and mild negative for landed.
-staying with folks
so, how shld we play this property game?
Decksurgeon
21-05-12, 20:28
What is a dr doing in oil trading or am I understanding this wrongly?
You got it right my man. A corporate desk job would be something that generates income passively. The leveraging on your subordinates for own benefit only increase as you climb up the corporate pyramid.
Being a doc is really fee for service, and the moment you stop moving, you stop earning.
I may just move to investment banking if the opportunity arises.
Just like how bankers and RMs sell the banks products to close deals, Docs sell elective medical procedures. Technically, we are all in sales. These are things no one really needs. At least bankers have a ladder to climb where a percentage of the deals closed by subordinates goes to you
lol ... kid is perceived as liability ... so it is prudent not to take up liability
very simple to encourage people to have kids in a market-driven economy, kids must be asset:
1. 90% discount to COE once you have 2 kids
2. Can cut queue when having kids everywhere you go, movies, airport, arts center, applying HDB in mature estate
3. lucky draw to have free HDB, one kid one chance, chance of winning is 1/10,000 ... and then followed by draw for condo, chance of winning is 1/100,000
4. Waive credit card fees and discount to credit card interest rate up to 80% once you have kids
5. Free rides on MRT/buses for kids up to PSLE
what do u think? :cheers5:Are u in the coming Hougang by election? I vote for you... :cheers5:
Decksurgeon
21-05-12, 20:35
hey decksurgeon,
think i came across ur posts in swx/ sg-roc past few years... nice pics of the timepieces. :cheers5:
Glad you like them. Some are still for sale if interested :D
Glad you like them. Some are still for sale if interested :D
I especially like the rare IWC that u have. Unfortunately, cant see myself spending that kind of money.
Decksurgeon
21-05-12, 20:43
I especially like the rare IWC that u have. Unfortunately, cant see myself spending that kind of money.
Sure you can...the watch makes the man.
http://www.timezone.com/library/comarticles/comarticles0028
This would look great on your wrist:cheers5:
Just to intro myself, keen interest in watches and fast cars.
- wifey and me are late 20s/early 30s
- never bought/ owned hdb due to income not qualifying.
- combined dual-income of ard SGD700-800k p.a. for wy 2012. <2011 combined max of 350k
- cash + CPF of less than 100K (due to recent purchase)
In my earlier years, lots of money spent buying, selling and modding fast cars. Decided on family planning in recent 1 to 2 years.
Our portfolio includes- FH condo unit in D10, 50% paid up, outstanding loan 1.26m. in my name
-FH semi D house in north (just secured this month with what remaining cash I have), 30% paid up, owing 1.74m)
Not willing to work pass 50years of age due to extreme stress, unpredictably long work hours, depression and suicide risk. Would prefer to pursue interest in motorsport and move on the exotic segments if finances allow.
-both properties rented out with positve cashflow for PC and mild negative for landed.
-staying with folks
so, how shld we play this property game?You can play anyway you like... You belong to a league of investors which is pretty exclusive... My friends a couple, one a surgeon and husband a lawyer both probably have about $400k to $500k a year in combined income but living very simply in a private condo with no intention for property investment. You have taken the step of property investment so good for you. :cheers5:
one more newbie question..
does it really matter FH vs LH? what are the pros and cons?
one more newbie question..
does it really matter FH vs LH? what are the pros and cons?For investment and rental, FH and LH are really not that much different. Location is king. For own stay, will prefer FH! :)
For investment and rental, FH and LH are really not that much different. Location is king. For own stay, will prefer FH! :)
why the FH preference for own stay? any difference when it comes to enbloc?
Got friend who does not practice anymore but setup a chain of clinics and play golf at 35 years old. :o only problem with surgeon is that they are trading time with money. My doctor friend is leveraging other doctors to work for him. No difference from property investment. :D
trust me my friend, fussy singaporeans are a real pain in my practice. Money is earned hard and slow.
Unwillingness to work beyond 50 is now revised to 40 (in addition to your normal work hours, I also work nights weekends)
danieltangtc
22-05-12, 01:30
Got friend who does not practice anymore but setup a chain of clinics and play golf at 35 years old. :o only problem with surgeon is that they are trading time with money. My doctor friend is leveraging other doctors to work for him. No difference from property investment. :D
Wah, work nights and weekends really quite sad. yeah, my uncle who WAS a surgeon who is with a stroke now mentioned how he only had a limited shelf life to operate until his hands were no longer steady and his eyesight no good. Think working till 50s is max I've heard.
Certainly leveraging is a great idea...the difficult part is organising the organisation structure.
why the FH preference for own stay? any difference when it comes to enbloc?For FH, you have no concern that your lease is expiring therefore the value of the property will not fall but because of inflation and influential property prices, it will rise. For LH, once property hits 15 years old, its value cannot go up much. For enbloc, the developer needs to top up the lease. Singapore is relative young to talk about PC hitting 50 years old and more (coz not many) but that time will come v soon. :rolleyes:
For FH, you have no concern that your lease is expiring therefore the value of the property will not fall but because of inflation and influential property prices, it will rise. For LH, once property hits 15 years old, its value cannot go up much. For enbloc, the developer needs to top up the lease. Singapore is relative young to talk about PC hitting 50 years old and more (coz not many) but that time will come v soon. :rolleyes:
Not true leh....
Ivory heights and dover parkview still going up
Hi bros,
Newbie here. Would like to check regarding The new measures that bank would only loan 60% if you have an existing loan. What if my loan with a bank for my current hdb left 30k. Would the loan from bank still 60% or it can be more depending on the bank? Is it a policy or depend on the banks decision?
Thinking of buying a condo with 80% loan if possible.
Thanks bros
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