View Full Version : Today my tenant called me...
He said...he regrets to inform me he has bought a resale condo and is giving me 2 mths notice that he is moving out of my 4rm hdb flat as per our tenancy agreement...supposed to end in december...dunno whether to be happy :D or sad :( ...or neutral...:cool:
Ok my take is that tenants are getting wiser and if they can buy they will buy instead of renting...so BUYERS beware if you are OVER leveraging and buying for investment to rent out..there might be a day when your tenant decides to walk out...for whatever reason..
For me it kind of HELPS me to make up my mind about my NEXT move....:)
any bro know whats a good RENOVATION forum...:D :D :D
thomastansb
01-06-12, 13:51
If I were you, I won't have the 2 months notice clause. This is the first time I see that landlord is putting this clause.
Anyway, rental is at an all time high. Who give a shit if he is going to move out or not? The rental is definitely much higher than your old rental.
buttercarp
01-06-12, 13:56
any bro know whats a good RENOVATION forum...:D :D :D
You thinking of renovating your flat and move back?
Try renotalk.com
buttercarp
01-06-12, 13:57
If I were you, I won't have the 2 months notice clause. This is the first time I see that landlord is putting this clause.
Anyway, rental is at an all time high. Who give a shit if he is going to move out or not? The rental is definitely much higher than your old rental.
If no clause for notice, then how to rent?
If want to withdraw before due date then lose deposit?:scared-3:
i put in the 2mth clause to SAFEGUARD myself in case i need to break the tenancy...cos i am also a TENANT myself..renting another property...;)
yup my flat is 20 years old...last major reno cannot remember when...:scared-1:
be nice to move back into a spanking newly renovated flat...;)
and then continue walking thru the jungles......:confused:
waiting for the DURIANS to drop...:D :D :D
You thinking of renovating your flat and move back?
Try renotalk.com'
tks for d link....;)
I am raring to go; getting a 1.3-1.5mil FH/999 leasehold condo.
I am all open to offer(s) now.
'....;)
Congrat...now u will have a place to call it
"HOME SWEET HOME"
"IT IS MY HOME"
Congrat...now u will have a place to call it
"HOME SWEET HOME"
"IT IS MY HOME"
ha ha i always had a home...its like getting back with your ex-girlfriend...:scared-1: and giving her a major work-over....:D:D:D
I am raring to go; getting a 1.3-1.5mil FH/999 leasehold condo.
I am all open to offer(s) now.
keep the dream alive bro...we all need to work towards something...anyway just to share my 2 cent thoughts with you..i also thought to sell my 4rm flat...after that i would have enough to put down deposit for a 2.2 MILLION LANDED PROPERTY plus have a BUFFER sum in case of emergency....but then i would be STUCK with having to pay off a loan of about 1.5 to 1.6 MILLION at about 4.5 to 5k a MONTH in mortgage for NEXT 30 years of my life just to LIVE that LANDED dream...TRUST me after almost a year staying in my rented landed property its NOT worth it if you have to SLOG for your house...:)
TRUST me after almost a year staying in my rented landed property its NOT worth it if you have to SLOG for your house...:)
+1 LIKED......
TRUST me after almost a year staying in my rented landed property its NOT worth it if you have to SLOG for your house...:)
if you one person suffer and then the other family members (say 6 of them living with you in your landed) happy; with you helping them realise their dream, why not...hahaa....kidding....:D
keep the dream alive bro...we all need to work towards something...anyway just to share my 2 cent thoughts with you..i also thought to sell my 4rm flat...after that i would have enough to put down deposit for a 2.2 MILLION LANDED PROPERTY plus have a BUFFER sum in case of emergency....but then i would be STUCK with having to pay off a loan of about 1.5 to 1.6 MILLION at about 4.5 to 5k a MONTH in mortgage for NEXT 30 years of my life just to LIVE that LANDED dream...TRUST me after almost a year staying in my rented landed property its NOT worth it if you have to SLOG for your house...:)
This I disagree, buy a hse with mortgage loan does not mean u need to slog for the rest of your life to service the loan. You are actually enjoying ur life living in it while the price appreciation over time will pay for your loan itself by the time u retire. Of cos, when u retire, u need to downgrade to cash out or migrate somewhere else.
I think it will be foolish otherwise for not leveraging yourself i.e. to fully pay for a house when the money can be used to generate higher returns by investing in more properties.
HDB rental shd b quite safe. Only prob is u lugi e agent's commission n prob need to spend another few weeks to screen tenants if u r still renting. If not u lugi paying rental to ur landlord n paying for reno. I always advocate buying for own stay now. Buying PC to rent out is risky at this point.
This I disagree, buy a hse with mortgage loan does not mean u need to slog for the rest of your life to service the loan. You are actually enjoying ur life living in it while the price appreciation over time will pay for your loan itself by the time u retire. Of cos, when u retire, u need to downgrade to cash out or migrate somewhere else.
I think it will be foolish otherwise for not leveraging yourself i.e. to fully pay for a house when the money can be used to generate higher returns by investing in more properties.
Nothing wrong with leveraging. It is OVER LEVERAGING that is foolish, just to get that landed.
...TRUST me after almost a year staying in my rented landed property its NOT worth it if you have to SLOG for your house...:)
I don't think you can look at it in that way. Look at all our parents/grandparents who 'slogged' to get a roof over their heads. How many of them are still slogging now? Most of the HDB/PC/Landed that they bought are all fully paid now or have very low loans on them PLUS they are sitting on very nice capital gains. In fact, a lot of them have sold off to downgrade to a fully paid property and used the balance for retirement. They are definitely not slogging now. Compare them to their contemporaries who have never bought a property. In a land scarce country like SG, even the doomsayers would tend to agree that over the long run, the property cycle will continue its upward trend barring any catastrophe. Yes, there will be ups and downs along the way but in 30 yrs (in fact I think you don't even have to wait so long), you may be smiling your way to the bank. The main thing is to be financially prudent and have enough buffer to weather the down times.
:cool-punk-headbange
HDB rental shd b quite safe. Only prob is u lugi e agent's commission n prob need to spend another few weeks to screen tenants if u r still renting. If not u lugi paying rental to ur landlord n paying for reno. I always advocate buying for own stay now. Buying PC to rent out is risky at this point.
:cool-punk-headbange
Nothing wrong with leveraging. It is OVER LEVERAGING that is foolish, just to get that landed.
Over leverage is the smartest u can do in today low interest environment.
Ur making use of others' monies to make monies.
But, u must not leverage into those illiquid asset class and at the same time, u must have fat to weather the storm.
I don't think you can look at it in that way. Look at all our parents/grandparents who 'slogged' to get a roof over their heads. How many of them are still slogging now? Most of the HDB/PC/Landed that they bought are all fully paid now or have very low loans on them PLUS they are sitting on very nice capital gains. In fact, a lot of them have sold off to downgrade to a fully paid property and used the balance for retirement. They are definitely not slogging now. In a land scarce country like SG, even the doomsayers would tend to agree that over the long run, the property cycle will continue its upward trend barring any catastrophe. Yes, there will be ups and downs along the way but in 30 yrs (in fact I think you don't even have to wait so long), you may be smiling your way to the bank. The main thing is to be financially prudent and have enough buffer to weather the down times.
totally agree but everybodys appetite for risk is NOT the same...thats why when you walk into a casino...there are SO many different types of games to play....:rolleyes:....same with property market...so many different types of housing types to play with..get the point....lifes a Gamble...win some loose some...they say...:cool:
Nothing wrong with leveraging. It is OVER LEVERAGING that is foolish, just to get that landed.
How do you measure over leveraging? When property price goes up (equity value goes up), your gearing (debt/equity) becomes lower.
The bank will only loan you $$$ when u can down at least 20%, plus u have stable income to support it. So are you over leveraged when bank approves your loan?
If one loses his stable income, dun mention landed, even HDB oso got prob servicing the loan. The only consolation is the bank cannot force u to sell ur HDB even if you become bankrupt.
Over leverage is the smartest u can do in today low interest environment.
Ur making use of others' monies to make monies.
But, u must not leverage into those illiquid asset class and at the same time, u must have fat to weather the storm.
yup in todays market u can over leverage until the "COWS" come home(pun intended):D:D:D
if you one person suffer and then the other family members (say 6 of them living with you in your landed) happy; with you helping them realise their dream, why not...hahaa....kidding....:D
especially when the HAPPIEST members are the DOG and the MAID cos they enjoy the MOST....:scared-1:
This I disagree, buy a hse with mortgage loan does not mean u need to slog for the rest of your life to service the loan. You are actually enjoying ur life living in it while the price appreciation over time will pay for your loan itself by the time u retire. Of cos, when u retire, u need to downgrade to cash out or migrate somewhere else.
I think it will be foolish otherwise for not leveraging yourself i.e. to fully pay for a house when the money can be used to generate higher returns by investing in more properties.
a old colleague bgt her 4NG hdb in tampines for 330k in 90s. around 10yrs plus. appreciation about 100k+
today valuation stands at 420k-440k
but her cpf with incurred interests back to cpf at 180k, husband cpf at 140k. outstanding loan balance 110k
if COV 30k + 440k = 470k selling price
470k - (110k+180k+140k) = 40k cash balance from sale proceeds
appreciation somehow rollback into their cpf..:D
Over leverage is the smartest u can do in today low interest environment.
Ur making use of others' monies to make monies.
But, u must not leverage into those illiquid asset class and at the same time, u must have fat to weather the storm.
Must always protect ur cash flow or have stable jobs if u want to have high leverage. Singapore may not retain her competitiveness forever. Jobs may b lost forever leading to structural unemployment. If fact our growth is slowing down compare to JB. Our physical limits r raising e cost of living ndoing business badly. Ur model of high wealth growth using leveraging n properties cld b v risky for Radha now.
totally agree but everybodys appetite for risk is NOT the same...thats why when you walk into a casino...there are SO many different types of games to play....:rolleyes:....same with property market...so many different types of housing types to play with..get the point....lifes a Gamble...win some loose some...they say...:cool:
Well, I think you are in a great position becos' you already hve a fully paid HDB. You don't have to rent so you can bide your time and shop around. Nobody can accurately guess the market highs or lows otherwise they will be billionaires. Just take your time and buy something within your means which you think will make you happy without overworrying about servicing loans. Even if the market corrects, as long as you have the buffer, don't worry. The cycles seem to be much shorter now given the high level of govt intervention. Loans do not last forever and will run down over time. One day, you will be surprised at how money you can get back if you decide to sell.
This I disagree, buy a hse with mortgage loan does not mean u need to slog for the rest of your life to service the loan. You are actually enjoying ur life living in it while the price appreciation over time will pay for your loan itself by the time u retire. Of cos, when u retire, u need to downgrade to cash out or migrate somewhere else.
I think it will be foolish otherwise for not leveraging yourself i.e. to fully pay for a house when the money can be used to generate higher returns by investing in more properties.
because of SSD you need to HOLD at least for 4 years....i kinda feel we all all SAILING on the titanic in todays enviroment....we DONT know whats ahead so rather than BE a HERO(cos heros die young)...i rather take a back seat...and cruise along until coast is clear and time is right...of course there is a chance that might NOT happen...;)
agree to fully pay up 1 house and not use the money to buy a FEW apts may NOT be the wisest thing to do...perhaps for somene in late 20s to early 30s...BUT when u are ALMOST HALF way thru life cycle(assuming we all live till 100)...you tend to look at risk from a more conservative point of view....unless of course you have a few million dollars lying around...but if thats the case then you wont be excercising your fingers typing this message you would probably be looking to buy/sell/rent your next property...:2cents:
Must always protect ur cash flow or have stable jobs if u want to have high leverage. Singapore may not retain her competitiveness forever. Jobs may b lost forever leading to structural unemployment. If fact our growth is slowing down compare to JB. Our physical limits r raising e cost of living ndoing business badly. Ur model of high wealth growth using leveraging n properties cld b v risky for Radha now.
ha ha Mr Radha just spent a few days last week staying at RWS did Mr radha step into the casino...NO...WHY?...cos Mrs Radha...say if U GO in there....:hell-hath-no-fury:....so you see Mr Radha when he do things need to align with Mrs Radha.....because if Mrs Radha NOT happy then NO use for Mr Radha...to BUY a BILLION dollar house...everyday fighting with Mrs Radha...Moral of story....house small nebermind as long as your BETTER half is happy can Liao....:D:D:D
DISCLAIMER:This is point of view of the radha household...the Tan/Lee/LIM/MOhd household may hold its OWN views...as long as HAPPY can LIAO...:D
especially when the HAPPIEST members are the DOG and the MAID cos they enjoy the MOST....:scared-1:
hmmm... that sounds familiar !
Well, I think you are in a great position becos' you already hve a fully paid HDB. You don't have to rent so you can bide your time and shop around. Nobody can accurately guess the market highs or lows otherwise they will be billionaires. Just take your time and buy something within your means which you think will make you happy without overworrying about servicing loans. Even if the market corrects, as long as you have the buffer, don't worry. The cycles seem to be much shorter now given the high level of govt intervention. Loans do not last forever and will run down over time. One day, you will be surprised at how money you can get back if you decide to sell.
i sold my PC some time last year stayed there almost 4 years my HDB flat help me to pay my PC...before that my HDB flat sheltered me and my family so many years..its like an OLD friend...i believe and treasure friendship....so if i were to cut off my hdb flat by selling off its like breaking friendship with an OLD and TRUSTED friend...somehow i treasure GOOD friends...:cheers4:
How do you measure over leveraging? When property price goes up (equity value goes up), your gearing (debt/equity) becomes lower.
The bank will only loan you $$$ when u can down at least 20%, plus u have stable income to support it. So are you over leveraged when bank approves your loan?
If one loses his stable income, dun mention landed, even HDB oso got prob servicing the loan. The only consolation is the bank cannot force u to sell ur HDB even if you become bankrupt.
There are guidelines out there on what percentage of your income should go towards paying that loan. Each individual will have to decide, wisely or foolishly.
And it is not true that banks cannot force sell a HDB flat. They have a first charge on your HDB flat if you take a commercial bank loan, followed by CPF Board.
hmmm... that sounds familiar !
actually thats what Mr Mohd Ismail(Propnex CEO) said during his seminar that i attended....:D..makes a LOT of sense...of course he is a muslim and probably has a Cat and Not a DOG...:D
actually thats what Mr Mohd Ismail(Propnex CEO) said during his seminar that i attended....:D..makes a LOT of sense...of course he is a muslim and probably has a Cat and Not a DOG...:D
Oh yes, rite! that same seminar i attended.
I also super-like your old-friend the 4rm-HDB, same here... will not sell mine too.
There are guidelines out there on what percentage of your income should go towards paying that loan. Each individual will have to decide, wisely or foolishly.
And it is not true that banks cannot force sell a HDB flat. They have a first charge on your HDB flat if you take a commercial bank loan, followed by CPF Board.
Tats y I said once banks approve ur loan, u r not over leveraged (for now). But once you lose your job, any kind of loan and even credit card bills is over leveraged.
So you rather die having to have fulfilled ur landed dream than to die having not to fulfill ur dream (i.e buy condo). And at the end of the day, you might not even die at all!
Tats y I said once banks approve ur loan, u r not over leveraged (for now). But once you lose your job, any kind of loan and even credit card bills is over leveraged.
So you rather die having to have fulfilled ur landed dream than to die having not to fulfill ur dream (i.e buy condo). And at the end of the day, you might not even die at all!
You trust the banks so much?:doh: Sure, when they want to lend you money, anything oso can as long as dun break MAS rules.
It is not a matter of losing jobs. When interest rates rises and you have borrowed to the hilt, then you will have to struggle to pay that huge loan that the bank willingly and happily approved.
Must always protect ur cash flow or have stable jobs if u want to have high leverage. Singapore may not retain her competitiveness forever. Jobs may b lost forever leading to structural unemployment. If fact our growth is slowing down compare to JB. Our physical limits r raising e cost of living ndoing business badly. Ur model of high wealth growth using leveraging n properties cld b v risky for Radha now.
Should global economy slip into recession, jobs are slashed, pple are panic selling their properties, prices tumble like no tomorrow.
Tell me frankly or ask yourself in your deep conscious mind, by the time this happens, do you dare to go in and buy? Are you sure you won't lose your job as well? Will you know you are entering at rock bottom prices?
This is just like the stock market. It is easy to say that you can wait till price bottoms out, then go in. By the time it comes, it's the balls that count.
You trust the banks so much?:doh: Sure, when they want to lend you money, anything oso can as long as dun break MAS rules.
It is not a matter of losing jobs. When interest rates rises and you have borrowed to the hilt, then you will have to struggle to pay that huge loan that the bank willingly and happily approved.
I dunno which bank dare to lend you money more than you can afford. Your worries of interest rate hike and affordability is always existent no matter which era you are in.
You can only sleep well when you dun hv any loan burden, but you are not making good use of the good opportunities now and realise you are losing out comparatively if things dun turn your way as u predict.
I dunno which bank dare to lend you money more than you can afford. Your worries of interest rate hike and affordability is always existent no matter which era you are in.
You can only sleep well when you dun hv any loan burden, but you are not making good use of the good opportunities now and realise you are losing out comparatively if things dun turn your way as u predict.
Well, I dun think landed is a good opportunity now given the huge increase in price over the last few years. I may be wrong, though.
Should global economy slip into recession, jobs are slashed, pple are panic selling their properties, prices tumble like no tomorrow.
Tell me frankly or ask yourself in your deep conscious mind, by the time this happens, do you dare to go in and buy? Are you sure you won't lose your job as well? Will you know you are entering at rock bottom prices?
This is just like the stock market. It is easy to say that you can wait till price bottoms out, then go in. By the time it comes, it's the balls that count.
As long it is a good price to me I will go in. I'm re-building up my reserve now.
Should global economy slip into recession, jobs are slashed, pple are panic selling their properties, prices tumble like no tomorrow.
Tell me frankly or ask yourself in your deep conscious mind, by the time this happens, do you dare to go in and buy? Are you sure you won't lose your job as well? Will you know you are entering at rock bottom prices?
This is just like the stock market. It is easy to say that you can wait till price bottoms out, then go in. By the time it comes, it's the balls that count.
There are only to things you need to overcome in investment. FEAR and GREED
Nothing wrong with leveraging. It is OVER LEVERAGING that is foolish, just to get that landed.
yea ... :cheers4:
As long it is a good price to me I will go in. I'm re-building up my reserve now.
by the time you see light at the end of the tunnel, those prized units with good facing and layout will no longer be available.
plus with the 4 years SSD, when you buy during upturn, you might only be able to sell during the downturn.
Should global economy slip into recession, jobs are slashed, pple are panic selling their properties, prices tumble like no tomorrow.
Tell me frankly or ask yourself in your deep conscious mind, by the time this happens, do you dare to go in and buy? Are you sure you won't lose your job as well? Will you know you are entering at rock bottom prices?
This is just like the stock market. It is easy to say that you can wait till price bottoms out, then go in. By the time it comes, it's the balls that count.
VERY TRUE...early 2009 is a CLASSIC example so cheap also i DONT dare buy...:doh:
ha ha my situation can also be applued to the car market..its like i got an OLD car...should i sell it and get a NEW car...or should i do up my OLD car thats been serving me well...change leather seats...bodykit..new rims tyres...:D:D:D...he he property market got so many perspectives...
VERY TRUE...early 2009 is a CLASSIC example so cheap also i DONT dare buy...:doh:
2009 is already too late for fire sale.
VERY TRUE...early 2009 is a CLASSIC example so cheap also i DONT dare buy...:doh:
2008-2010 yr end, i feel like im playing monopoly :D
keep the dream alive bro...we all need to work towards something...anyway just to share my 2 cent thoughts with you..i also thought to sell my 4rm flat...after that i would have enough to put down deposit for a 2.2 MILLION LANDED PROPERTY plus have a BUFFER sum in case of emergency....but then i would be STUCK with having to pay off a loan of about 1.5 to 1.6 MILLION at about 4.5 to 5k a MONTH in mortgage for NEXT 30 years of my life just to LIVE that LANDED dream...TRUST me after almost a year staying in my rented landed property its NOT worth it if you have to SLOG for your house...:)
I, for one, do not want to live in a landed property even if I have the means to do so, unless I belong to the Warren Buffet category (read: unlimited wealth). The issue is maintenance. My good old friend, who has lived in a landed property for the past 12 years, told me she is now facing problems of a leaking roof, clogged drain, peeling paint on the porch and other maintenance issues. They are now thinking of moving back to an apartment.
Anyway, her situation is quite unique. She and her sister (both married with a total of 7 children in both households) bought the 3-storey house so they can live together. Their mum and an unmarried brother live with them too, together with 2 maids. Their younger brother's 2 children and a maid are also "permanently parked" there too.
So, in total, there are about 15 people living in that 3-storey house. And if you include the younger brother's family, there are 20 people in the house each evening when everyone comes home from school/work! :scared-1:
Should global economy slip into recession, jobs are slashed, pple are panic selling their properties, prices tumble like no tomorrow.
Tell me frankly or ask yourself in your deep conscious mind, by the time this happens, do you dare to go in and buy? Are you sure you won't lose your job as well? Will you know you are entering at rock bottom prices?
This is just like the stock market. It is easy to say that you can wait till price bottoms out, then go in. By the time it comes, it's the balls that count.
Besides a stable job, the other issue is illness, especially a debilitating and costly ailment that can wipe out your life savings. Between my spouse and I, we have lost 4 friends to cancer, all below aged 40; and another 2 who have just finished chemo, in their 40s.
Well, I dun think landed is a good opportunity now given the huge increase in price over the last few years. I may be wrong, though.
Is it really a huge increase over the past few years vs ENORMOUS increase over the past 20 yrs?
Do you agree that landed experienced much higher increase than condos over the past few years? If yes, why?
Do you agree that in terms of built-in psf, landed is still considerably cheaper than condo psf? If yes, so do you think landed will rise or fall over the next few years?
Do u really think land scarce Singapore have limited upside for landed vs condos with unlimited air space building upwards?
Besides a stable job, the other issue is illness, especially a debilitating and costly ailment that can wipe out your life savings. Between my spouse and I, we have lost 4 friends to cancer, all below aged 40; and another 2 who have just finished chemo, in their 40s.
Tats y wack a landed now and enjoy life than to wait for price to fall. You dun even know what will happen tomorrow. :rolleyes:
If you are near to death, anything else does not matter. At least you 've been there, tried it, enjoyed it.
Is it really a huge increase over the past few years vs ENORMOUS increase over the past 20 yrs?
Do you agree that landed experienced much higher increase than condos over the past few years? If yes, why?
Do you agree that in terms of built-in psf, landed is still considerably cheaper than condo psf? If yes, so do you think landed will rise or fall over the next few years?
Do u really think land scarce Singapore have limited upside for landed vs condos with unlimited air space building upwards?
Problem is foreigners cant buy landed and so demand is limited to Singaporeans only unless you are buying landed in Sentosa, which is 99LH
I, for one, do not want to live in a landed property even if I have the means to do so, unless I belong to the Warren Buffet category (read: unlimited wealth). The issue is maintenance. My good old friend, who has lived in a landed property for the past 12 years, told me she is now facing problems of a leaking roof, clogged drain, peeling paint on the porch and other maintenance issues. They are now thinking of moving back to an apartment.
Anyway, her situation is quite unique. She and her sister (both married with a total of 7 children in both households) bought the 3-storey house so they can live together. Their mum and an unmarried brother live with them too, together with 2 maids. Their younger brother's 2 children and a maid are also "permanently parked" there too.
So, in total, there are about 15 people living in that 3-storey house. And if you include the younger brother's family, there are 20 people in the house each evening when everyone comes home from school/work! :scared-1:
In today's technology, many houses are built with less maintenance. If you have a house with bare painted walls, surely, peeling paint problems will occur. Repaint the entire house only cost $5000. If you have tiled it up, you dun need to be bothered with this problem at all. This goes the same for condos. The difference is you pay few hundered bucks every month for condos vs you pay a lump sum every few years for landed.
Worst still, sometimes what you pay for condo maintenance didnt really go to maintain your block. It went to repair facilities damaged or abused by other residents and their friends, it went to pay for security guards with increasing salaries every year and etc.
In today's technology, many houses are built with less maintenance. If you have a house with bare painted walls, surely, peeling paint problems will occur. Repaint the entire house only cost $5000. If you have tiled it up, you dun need to be bothered with this problem at all. This goes the same for condos. The difference is you pay few hundered bucks every month for condos vs you pay a lump sum every few years for landed.
Worst still, sometimes what you pay for condo maintenance didnt really go to maintain your block. It went to repair facilities damaged or abused by other residents and their friends, it went to pay for security guards with increasing salaries every year and etc.
many landed property doesnt have a gym, a 50m lap pool, BBQ pit, tennis court, playground function room
Problem is foreigners cant buy landed and so demand is limited to Singaporeans only unless you are buying landed in Sentosa, which is 99LH
Even without foreigners speculating our landed properties, landed oredi can rise so much just by local demands. Imagine wat if one day the door is opened up as we have more foreigners coming into Spore? Will u be seeing the pot of gold becoming a hill of gold?
Not even going there, there are merely 50,000 landed hses in Singapore. This is less than 1% of the total population in Singapore. Dun tell me the top 1% of Sporeans cannot afford landed? :scared-5:
many landed property doesnt have a gym, a 50m lap pool, BBQ pit, tennis court, playground function room
Well, if you want facilities, can always join a country club, or best still, buy a condo and rent out the condo. Then you can enjoy the condo facilities for free while you hv rental income and capital gain! Tats wat I am doing :cheers4:
a old colleague bgt her 4NG hdb in tampines for 330k in 90s. around 10yrs plus. appreciation about 100k+
today valuation stands at 420k-440k
but her cpf with incurred interests back to cpf at 180k, husband cpf at 140k. outstanding loan balance 110k
if COV 30k + 440k = 470k selling price
470k - (110k+180k+140k) = 40k cash balance from sale proceeds
appreciation somehow rollback into their cpf..:D
Then the unit is at a discount of 80K.
The Valuation of the unit is below market rate, adjusted to inflation or 2.6%.
No wonder LKY say don't sell your HDB, maybe trying to tell you once the market valuation is use instead of the control Valuation the selling price will be higher.
Well, if you want facilities, can always join a country club, or best still, buy a condo and rent out the condo. Then you can enjoy the condo facilities for free while you hv rental income and capital gain! Tats wat I am doing :cheers4:
thank god that my condo doesnt allow that.
thank god that my condo doesnt allow that.
How u know or 100% sure your condo doesnt allow tat? Do you remember each and every resident in your condo? They cannot bring friends over?
Well, if you want facilities, can always join a country club, or best still, buy a condo and rent out the condo. Then you can enjoy the condo facilities for free while you hv rental income and capital gain! Tats wat I am doing :cheers4:
Could you share which condo(s) is it? I will avoid them.
Could you share which condo(s) is it? I will avoid them.
Almost every frd I know who invested in condo does tat. Like tat hor, you better avoid buying condos. You mean owner once rented out the unit cannot use the facilities?
Almost every frd I know who invested in condo does tat. Like tat hor, you better avoid buying condos. You mean owner once rented out the unit cannot use the facilities?
I think the facilities right(s) or/and entitlement(s) should reserve solely to the resident(s).
I wouldn't want a overcrowded masses in my condo compound.
I think the facilities right(s) or/and entitlement(s) should reserve solely to the resident(s).
I wouldn't want a overcrowded masses in my condo compound.
Then u hv to buy apartments and not condos. All condos have at least 300 units or families. Including their guests, there can easily be 1500 people inside a condo at the same time.
I think the facilities right(s) or/and entitlement(s) should reserve solely to the resident(s).
I wouldn't want a overcrowded masses in my condo compound.
I even heard of ex-owners after selling their condo units, keep coming back to use the facilities.
Then u hv to buy apartments and not condos. All condos have at least 300 units or families. Including their guests, there can easily be 1500 people inside a condo at the same time.
No. I want a landed.
No. I want a landed.
Gd, smart and wise choice! :cheers1:
buttercarp
01-06-12, 18:52
Tats y wack a landed now and enjoy life than to wait for price to fall. You dun even know what will happen tomorrow. :rolleyes:
If you are near to death, anything else does not matter. At least you 've been there, tried it, enjoyed it.
Actually why is everyone saying that staying in landed is so good?
My MIL who is from Malaysia also told me that .
Now in Singapore, she lives in a 4 room HDB flat and still yearns for a landed.
She said I will find out why in time to come.
Although I look forward to my new place, I kinda feel apprehensive about landed as I have been staying on very high floors,mostly top floors.
Almost every frd I know who invested in condo does tat. Like tat hor, you better avoid buying condos. You mean owner once rented out the unit cannot use the facilities?
you can check the MCST rules, not supposed to but i suppose some people are not aware or dont care...
you can check the MCST rules, not supposed to but i suppose some people are not aware or dont care...
might as well buy a condo opposite, and park there. no need to buy hdb parking liao..:D save $$$$$$$$$
many landed property doesnt have a gym, a 50m lap pool, BBQ pit, tennis court, playground function room
ya but landed got NO FT and thats the BEST thing EVER about landed...IMHO...:D
Frankly, my first choice would be landed, followed by a PC in Mt Sinai. I love the greenary and Henry Park primary.
It is exclusive, yet accessible to hawker centers and amentities.
If there is any kind owners who wish to let go their Mt Sinai property at an affordable price, please PM me.
I am sincere.
Trapping-bird
01-06-12, 21:02
Frankly, my first choice would be landed, followed by a PC in Mt Sinai. I love the greenary and Henry Park primary.
It is exclusive, yet accessible to hawker centers and amentities.
If there is any kind owners who wish to let go their Mt Sinai property at an affordable price, please PM me.
I am sincere.
What is ur affordable price? 300k, 500k or 1.2m?
What is ur affordable price? 300k, 500k or 1.2m?
1.2 to 1.5 mil SGD is a good figure? If success, I will rent out all HDBs (mine and my parents) to sustain.
Trapping-bird
01-06-12, 21:08
1.2 to 1.5 mil SGD is a good figure? If success, I will rent out all HDBs (mine and my parents) to sustain.
Bro how abt the flamingo valley u aiming? You not interested Liao?
Trapping-bird
01-06-12, 21:09
1.2 to 1.5 mil SGD is a good figure? If success, I will rent out all HDBs (mine and my parents) to sustain.
Wow, u have 3 hdbs now?? One u stay, one ur parents and one u currently renting out??
Wow, u have 3 hdbs now?? One u stay, one ur parents and one u currently renting out??
I am currently staying in 5 room HDB with my parents. I am renting out my parent's HDB flat now. This is why I have disposal rental income 2k+.
My plan is if I am going to get Mt Sinai condo (not apartment) FH/Leasehold successfully, I will house my parents and my family in it again and rent out my 5 room HDB flat as well. Then I will have 2k+ x 2 = 4k+ disposal rental income, coupled with my household income 7k+.
I believe total of 11k+ to 12k would be well-support to finance my condo?
I am keen in Flamingo Valley, however Mt Sinai has always been my 2nd choice after landed. FV is 3rd choice.
Trapping-bird
01-06-12, 21:19
I am currently staying in 5 room HDB with my parents. I am renting out my parent's HDB flat now. This is why I have disposal rental income 2k+.
My plan is if I am going to get Mt Sinai condo (not apartment) FH/Leasehold successfully, I will house my parents and my family in it again and rent out my 5 room HDB flat as well. Then I will have 2k+ x 2 = 4k+ disposal rental income, coupled with my household income 7k+.
I believe total of 11k+ to 12k would be well-support to finance my condo?
I am keen in Flamingo Valley, however Mt Sinai has always been my 2nd choice after landed. FV is 3rd choice.
12k is not alot but living under one roof together so many men may pose a challenge. Ur mop for ur 5 rm flat is over? Plan properly before u buy. U still got 2 small babies..
I believe total of 11k+ to 12k would be well-support to finance my condo?
First, u shall be very thankful to your parents that, u rent out their HDB and keep all their rental income. I will nvr let my children to do to me.
Second, not all your household income is to support the financing of your dream condo.
U hv a child, another one on the way very soon, your aged parents, your inlaws perhaps need your support. On top of that, u and your wife are working in the same bank back office and facing the risk of job security.
And u may have a car to support as well.
Trapping-bird
01-06-12, 21:25
I am currently staying in 5 room HDB with my parents. I am renting out my parent's HDB flat now. This is why I have disposal rental income 2k+.
My plan is if I am going to get Mt Sinai condo (not apartment) FH/Leasehold successfully, I will house my parents and my family in it again and rent out my 5 room HDB flat as well. Then I will have 2k+ x 2 = 4k+ disposal rental income, coupled with my household income 7k+.
I believe total of 11k+ to 12k would be well-support to finance my condo?
I am keen in Flamingo Valley, however Mt Sinai has always been my 2nd choice after landed. FV is 3rd choice.
Assuming u have 12k monthly income after all rentals,
12k-4k loan-500parents-1500for 2 babies-1000car-1000 misc-600insurance-blar blar blar.. Saving $$00??
First, u shall be very thankful to your parents that, u rent out their HDB and keep all their rental income. I will nvr let my children to do to me.
Second, not all your household income is to support the financing of your dream condo.
U hv a child, another one on the way very soon, your aged parents, your inlaws perhaps need your support. On top of that, u and your wife are working in the same bank back office and facing the risk of job security.
And u may have a car to support as well.
Thanks for the reminder, however the desire of owning one PC in the Mt Sinai backyard proves luring.
My parents HDB is fully paid for.
My current commitment is as follows:
1. Car expenses + fuel + carpark = 1000SGD (6 years COE left)
2. Housing loan of 460k over 35 years loan tenure = 1500SGD (offset with both husband and wife CPF)
3. Children expenses = 1500SGD
4. Parents stay with us , so no allowances but food expenditure = 1000SGD
5. Meals = we bring homecook food to eat in office
Most of the time, we stay put in our neighbourhood. Hence, our entertainment expenses is minimal.
Total liability as of now = 1000+1500+1500+1000 = 5000
Our phone is fully subsidize by our company. So, no charges.
Broadband services - I am using mobile BB which is from my company.
Now, if I decided to go ahead with Mt Sinai property, I will need to finance around 5k monthly. Hence, 5k loan + 5000k (expenses) = 10k.
Thus, working backwards we still have around 2k left for emergency or unforeseen expenses/needs.
Seems very tight leh...
But nothing ventured, nothing gained. I won't do it if I were in your shoes. Maybe that's why I'm not one of the 17% of Singaporean millionaires. :beats-me-man:
Seems very tight leh...
But nothing ventured, nothing gained. I won't do it if I were in your shoes. Maybe that's why I'm not one of the 17% of Singaporean millionaires. :beats-me-man:
I concur with you; it is tight.
However, as what you mentioned earlier - no pain no gain. I am still scouting around in Mt Sinai, and I am open to all preposition(s) available.
All Mt Sinai landlord, please do PM me if you wish to let go yours at an affordable and reasonable price.
To yowetan
U hv an existing housing loan, so u can only have 60% LTV on the S1.2-1.5m property, or say u must have 40% x1,400,000 =$640,000 cash + CPF.
Or u pay off your HDB first and then hv 80% LTV which is about $300,000.
It is good to dream a dream, but dun over-dream.
I cannot believe, u dun give allowance to your parents and u collect their rental income from their fully paid HDB.
To yowetan
U hv an existing housing loan, so u can only have 60% LTV on the S1.2-1.5m property, or say u must have 40% x1,400,000 =$640,000 cash + CPF.
Or u pay off your HDB first and then hv 80% LTV which is about $300,000.
It is good to dream a dream, but dun over-dream.
I cannot believe, u dun give allowance to your parents and u collect their rental income from their fully paid HDB.
We work in a bank. Hence, LTV is not a concern.
Yes, we dun give allowances since we all stay under one roof. My parents are fully supportive of my dream.
We work in a bank. Hence, LTV is not a concern.
Yes, we dun give allowances since we all stay under one roof. My parents are fully supportive of my dream.
I will write to MAS for this loophole now. So, u better move fast.
I will write to MAS for this loophole now. So, u better move fast.
Please go ahead. I am waiting for it !
Please show your letter here. Thanks!
Allthepies
01-06-12, 22:00
I will write to MAS for this loophole now. So, u better move fast.
Give people a chance la, you can see he put in a lot of effort to get his dream home. Cheers :cheers4:
Unlike another group of Singaporeans who know only to threaten the government so that they can buy hdb and condo cheap without any real effort or sacrifice.
TheOnlyGayInTheVillage
01-06-12, 22:00
Assuming u have 12k monthly income after all rentals,
12k-4k loan-500parents-1500for 2 babies-1000car-1000 misc-600insurance-blar blar blar.. Saving $$00??
Only 500$ for the parents who let you keep all their hdb rental income????
Omg.
Only 500$ for the parents who let you keep all their hdb rental income????
Omg.
I dun give allowances for money saved will be of a better use in coming near future.
Give people a chance la, you can see he put in a lot of effort to get his dream home. Cheers :cheers4:
Unlike another group of Singaporeans who know only to threaten the government so that they can buy hdb and condo cheap without any real effort or sacrifice.
How do this group of Singaporean threaten the government?
I thought our government is almighty?
I dun give allowances for money saved will be of a better use in coming near future.
life is too short for chasing the property dreams.. and ur parents deserved to enjoy in their golden age.
eating home cook food at office and no holidays, no insurance and stretching to the max for that dream house is no-no for me.
pls enjoy life, instead adding stress onto the family. no doubt they maybe supportive, deep in their heart might be praying for no hiccups
Please go ahead. I am waiting for it !
Please show your letter here. Thanks!
Oops, sent
u wait for circular from MAS, should be soon.
life is too short for chasing the property dreams.. and ur parents deserved to enjoy in their golden age.
eating home cook food at office and no holidays, no insurance and stretching to the max for that dream house is no-no for me.
pls enjoy life, instead adding stress onto the family. no doubt they maybe supportive, deep in their heart might be praying for no hiccups
Enjoy life in their golden age is somehow and somewhat subjective and vague.
I can't rebutt your reasoning as living well is a big topic and really a subjective one. Hence, different people different stroke.
Oops, sent
u wait for circular from MAS, should be soon.
Let me quote your above statement.
We shall see.
Oops, sent
u wait for circular from MAS, should be soon.
Why must you do this kinda things ?
I think u shld reflect! Try viewing Reflections this weekend.
Singapore nowadays full of this kind of people, vicious, jealous and out to sabotage others. As if other people's loss will be their gain.
Anyway, back to the topic (sorry for joining in so late).
If tenant (HDB) call to terminate lease, quickly get someone else to come in and take over lo!
But I do agree staying in own place is good. A good feeling.
But also agree dont slog for a property by compromising other things in life. You only got ONE life! Enjoy it!
Remember, the millions u cash out or whatever property at the end of the day is just going to be a number in the bank account. Whether its $500K, or $2 mil, doesnt make much diff.
Think, my friends, Think!
DKSG
wouldn't it be nice if u book all expenses paid holiday for ur folks from some of the rental income? Money can be earn but biological clock is ticking. U are lucky ur parents are so generous.
wouldn't it be nice if u book all expenses paid holiday for ur folks from some of the rental income? Money can be earn but biological clock is ticking. U are lucky ur parents are so generous.
Yes, I agree with you on spending a portion of rental income.
As mentioned, the definition of living well and enjoying of life differs among individuals and/or family.
Why must you do this kinda things ?
I think u shld reflect! Try viewing Reflections this weekend.
Singapore nowadays full of this kind of people, vicious, jealous and out to sabotage others. As if other people's loss will be their gain.
Anyway, back to the topic (sorry for joining in so late).
If tenant (HDB) call to terminate lease, quickly get someone else to come in and take over lo!
But I do agree staying in own place is good. A good feeling.
But also agree dont slog for a property by compromising other things in life. You only got ONE life! Enjoy it!
Remember, the millions u cash out or whatever property at the end of the day is just going to be a number in the bank account. Whether its $500K, or $2 mil, doesnt make much diff.
Think, my friends, Think!
DKSG
Laguna definitely protecting his interest.
if market crash, and if 20-40% of owners are over leveraging or max 80% LTV on many properties. these pple bo bian to fire-sale or bankrupt.
but this will affect the richer investors or owners, to seeing their properties prices dived deeper becos kena sabotaged by this group of buyers/owners..
Lol. It's true that employees of bank need not have to fork out 40% for 2nd property. Given his situation, I don't dare to dream so big either. Me single no commitment, got rental income, n a almost fully paid unit, also don't dare to buy. Maybe that's why I'm still poor. Lol
Laguna definitely protecting his interest.
if market crash, and if 20-40% of owners are over leveraging or max 80% LTV on many properties. these pple bo bian to fire-sale or bankrupt.
but this will affect the richer investors or owners, to seeing their properties prices dived deeper becos kena sabotaged by this group of buyers/owners..
I am buying for it for my family, my children.
I am not an investor but a person who dream to own a dream place of my own. FH/999 leasehold.
Why must you do this kinda things ?
I think u shld reflect! Try viewing Reflections this weekend.
Singapore nowadays full of this kind of people, vicious, jealous and out to sabotage others. As if other people's loss will be their gain.
Anyway, back to the topic (sorry for joining in so late).
If tenant (HDB) call to terminate lease, quickly get someone else to come in and take over lo!
But I do agree staying in own place is good. A good feeling.
But also agree dont slog for a property by compromising other things in life. You only got ONE life! Enjoy it!
Remember, the millions u cash out or whatever property at the end of the day is just going to be a number in the bank account. Whether its $500K, or $2 mil, doesnt make much diff.
Think, my friends, Think!
DKSG
In fact, a number of banks hv alr withdrawn the higher LTV for staff. Our dear frn may not even aware of it.
If u read back his past posts, including begging money to have the down payment etc, u will know that he is really over-stretching himself just to stay in a private condo. And he just want to buy a private condo way below market.
IMO, this is not life. A PC may not improve the quality of life. It is the happiness, no wori and healthy that make life more complete. Dream an imposssible dream is lovely, but making an impossible dream to come true is not easy.
What happens if the property is down, or he himself or his wife, jobless...then what is next for his family?
Remember, the millions u cash out or whatever property at the end of the day is just going to be a number in the bank account. Whether its $500K, or $2 mil, doesnt make much diff.
Think, my friends, Think!
DKSG
I will be so much happier to have $2m credit in my bank account than $500k.
My $2m in the bank account is a debit balance and not a credit balance.
Yes, you are right. Condos once rented out, owners transfer all right of use of the facilities to the tenants. Luckily there is no such person like you and your friends in my condos. Anyway, even if there are, the MCs will get the security guards to chase you out even if you are owners because you have no right to be using the facilities when you already tenanted out your units. :beats-me-man:
Almost every frd I know who invested in condo does tat. Like tat hor, you better avoid buying condos. You mean owner once rented out the unit cannot use the facilities?
Landed rise previously because in the past 3 years when MND is under MBT, MND approved almost all PRs who applied to buy landed! Now you think this will happen again after the watershed GE and MBT? Don't believe, don't have to wait long, wait till 2016 and you can see how the landed transactions perform.
50,000 landed houses? that is 5% of total housing. Unfortunately, <6% citizens can afford to buy landed and of that probably only 3% is willing to buy landed to live in (doesn't make sense to invest in landed as the net yield is negative!) while the rest rather buy bungalows-in-the-sky!, so we should see oversupply of landed by 2016. :banghead:
Even without foreigners speculating our landed properties, landed oredi can rise so much just by local demands. Imagine wat if one day the door is opened up as we have more foreigners coming into Spore? Will u be seeing the pot of gold becoming a hill of gold?
Not even going there, there are merely 50,000 landed hses in Singapore. This is less than 1% of the total population in Singapore. Dun tell me the top 1% of Sporeans cannot afford landed? :scared-5:
Landed problems are well known. I have many friends who shift from landed to condos (and never turn back), and yet I have yet to hear any friend tell me they shift from condos to landed. :rolleyes:
I, for one, do not want to live in a landed property even if I have the means to do so, unless I belong to the Warren Buffet category (read: unlimited wealth). The issue is maintenance. My good old friend, who has lived in a landed property for the past 12 years, told me she is now facing problems of a leaking roof, clogged drain, peeling paint on the porch and other maintenance issues. They are now thinking of moving back to an apartment.
Anyway, her situation is quite unique. She and her sister (both married with a total of 7 children in both households) bought the 3-storey house so they can live together. Their mum and an unmarried brother live with them too, together with 2 maids. Their younger brother's 2 children and a maid are also "permanently parked" there too.
So, in total, there are about 15 people living in that 3-storey house. And if you include the younger brother's family, there are 20 people in the house each evening when everyone comes home from school/work! :scared-1:
Landed rise previously because in the past 3 years when MND is under MBT, MND approved almost all PRs who applied to buy landed! Now you think this will happen again after the watershed GE and MBT? Don't believe, don't have to wait long, wait till 2016 and you can see how the landed transactions perform.
IF not wrong, the quote for PR to buy landed is limited to 50 pa.
wait markets are more exciting now...
I will be so much happier to have $2m credit in my bank account than $500k.
My $2m in the bank account is a debit balance and not a credit balance.
I mean when you die that time la!
Or when you are at your deathbed.
Sorry I dont mean to curse u hor! I didnt say at what age ok ?
When a person dies, whether he got $500K or $2 mil, not much difference to him. Except when he got $ 2mil, he usually die faster. Haha!
DKSG
I am currently staying in 5 room HDB with my parents. I am renting out my parent's HDB flat now. This is why I have disposal rental income 2k+.
My plan is if I am going to get Mt Sinai condo (not apartment) FH/Leasehold successfully, I will house my parents and my family in it again and rent out my 5 room HDB flat as well. Then I will have 2k+ x 2 = 4k+ disposal rental income, coupled with my household income 7k+.
I believe total of 11k+ to 12k would be well-support to finance my condo?
I am keen in Flamingo Valley, however Mt Sinai has always been my 2nd choice after landed. FV is 3rd choice.
Office Boy only got ONE advice to you.
Total Income
Less : ALL expenses (everyone)
must be Twice your instalment amount
And if you are using CPF to finance all these HDBs, PCs, then make sure your CPF got 1 year of instalment for all these.
You never heard of bank retrenchment ?
We can only help you so much. If you run into trouble, I am sure there are investors out here willing to help buy over your condo at a decent price (albeit near market price).
So, Good Luck!
DKSG
PS : Office Boy sometimes also help send documents from Finance to other Dept, so got read these analysis on the go. haha!
Office Boy only got ONE advice to you.
Total Income
Less : ALL expenses (everyone)
must be Twice your instalment amount
And if you are using CPF to finance all these HDBs, PCs, then make sure your CPF got 1 year of instalment for all these.
You never heard of bank retrenchment ?
We can only help you so much. If you run into trouble, I am sure there are investors out here willing to help buy over your condo at a decent price (albeit near market price).
So, Good Luck!
DKSG
PS : Office Boy sometimes also help send documents from Finance to other Dept, so got read these analysis on the go. haha!
Could you elaborate further on this statement:
Total Income
Less : ALL expenses (everyone)
must be Twice your instalment amount
Is it really a huge increase over the past few years vs ENORMOUS increase over the past 20 yrs?
Do you agree that landed experienced much higher increase than condos over the past few years? If yes, why?
Do you agree that in terms of built-in psf, landed is still considerably cheaper than condo psf? If yes, so do you think landed will rise or fall over the next few years?
Do u really think land scarce Singapore have limited upside for landed vs condos with unlimited air space building upwards?
Nope. My landed increased as much as my condo next to MRT. But it took 12 years for my landed to achieve what my condo did in 2 years.
Landed psf is almost equal to condo psf and that is for land. :doh:
Nope. The whole of Singapore is land scarce. It's people like you who stop at nothing to get landed that is pushing up the prices which is foolish.
Anyway, Thanks to people like you that I am able to cash out on my landed big time.:D
I mean when you die that time la!
Or when you are at your deathbed.
Sorry I dont mean to curse u hor! I didnt say at what age ok ?
When a person dies, whether he got $500K or $2 mil, not much difference to him. Except when he got $ 2mil, he usually die faster. Haha!
DKSG
When u hv $2m credit with the bank, u die faster.
I have S$2m debit with the bank, will not die so fast then.
since we are all on the topic of money and its importance let me share a story i personally experienced a few weeks ago....;)
my wife took me to alkaff mansion to celebrate my birthday...the bill came up to $205!!!!....this maybe small change to some of the millionares here....but after the meal when i went back home i was still hungry and had supper...:confused:
But its a BIG amount to me and i was quite disturbed by my wife spending that kind of $$$ on a meal for 2 persons...of course it was with good intent and purpose...:o
but i was thinking like $200 can buy 100 packets of chicken rice and feed a poor person for 100 days...or $200 could buy enough groceries to feed a poor family for at least 2 weeks.......the same $200 i spent on a luxurious meal would be so much more appreciated by some many mouths for so much longer..:)
moral of story....we can buy a 2million dollar house to live in and still not be happy compared to a poor family living and Huddled in a $200K 2rm flat:rolleyes:
brothers and sisters....$$$ is IMPORTANT but its NOT everything....:cool:
You have to include those PRs who have become Singapore too.. Of course, not everyone bought landed.:p
IF not wrong, the quote for PR to buy landed is limited to 50 pa.
wait markets are more exciting now...
Trapping-bird
01-06-12, 23:48
Only 500$ for the parents who let you keep all their hdb rental income????
Omg.
Collect rental from parents Hdb but keep all inside pockets.. What a good boy.
OMG..... so many "Chao Kuan" people around but don't know it themselves.
Almost every frd I know who invested in condo does tat. Like tat hor, you better avoid buying condos. You mean owner once rented out the unit cannot use the facilities?
This is a good one!
Also, you have to include those have big dream and inspired to hit big time!:p
Nope. My landed increased as much as my condo next to MRT. But it took 12 years for my landed to achieve what my condo did in 2 years.
Landed psf is almost equal to condo psf and that is for land. :doh:
Nope. The whole of Singapore is land scarce. It's people like you who stop at nothing to get landed that is pushing up the prices which is foolish.
Anyway, Thanks to people like you that I am able to cash out on my landed big time.:D
OMG..... so many "Chao Kuan" people around but don't know it themselves.
these cheapo also dare to proudly announce they owe properties yet using facilities. :doh:
"ji tao bo standard"
btw i do have some condos pass, and carpark tags.. but don't return for facilities
only go to my own gym but limited equipments,
then go to true fitness, sign up recently months ago..
whahahahahahah how come so called as rich investors, doing chao kuan patterns..:tongue3:
moral of story....we can buy a 2million dollar house to live in and still not be happy compared to a poor family living and Huddled in a $200K 2rm flat:rolleyes:
brothers and sisters....$$$ is IMPORTANT but its NOT everything....:cool:
Bro, the reality in Singapore today is that you are likely to be unhappy if you are poor. You need money for everything, not least, putting food on the table. You can no longer grow your own vegetables or rear your own chickens.
You can be a happy poor in Malaysia or Thailand, but not Singapore.
can i put up my condos resident card, and car park tags for sale..??
vista park, melville park, infiniti, camelot, the waterside..
i can do more and extras for D15 only, the remaining projects cannot order for more. pls place order here, for parking or gyming purposes..
and u can impress gals with many parking decals..
whahahahahaha :D :D
Bro, the reality in Singapore today is that you are likely to be unhappy if you are poor. You need money for everything, not least, putting food on the table. You can no longer grow your own vegetables or rear your own chickens.
You can be a happy poor in Malaysia or Thailand, but not Singapore.
ya la bro ..very true... easy to TCSS...i know what you mean...:cheers4:
whahahahahaha :D :D`
melville park = whamamamama:scared-1:
You can be a happy poor in Malaysia or Thailand, but not Singapore.
can be poor in Hougang..:D:D:D
can be poor in Hougang..:D:D:D
No lah. Hougang Huat ah!:D
`
melville park = whamamamama:scared-1:
the waterside also whamamamamama, 10 times take lift 10 times either indians, pinoy maids, or little ang mo.
only consolation is to see dennis foo, around 8pm a S-class come to pick him
the waterside also whamamamamama, 10 times take lift 10 times either indians, pinoy maids, or little ang mo.
only consolation is to see dennis foo, around 8pm a S-class come to pick him
ha ha every morning he WALK to tanjung rhu market at night got S-class...
http://events.insing.com/feature/dennis-foo-voice-of-experience/id-c86e0000
ha ha every morning he WALK to tanjung rhu market at night got S-class...
http://events.insing.com/feature/dennis-foo-voice-of-experience/id-c86e0000
block 11 lobby, s-class number plate shld be 88. 2 digits la..
never talk before, only the old folks talk to old folks.
if not mistaken, our mp mr mah also stay there in the 90s.
gotta check with the folks to confirm
CondoInterested
02-06-12, 02:37
Talking about HDB, any kind soul here knows any lawyer, preferred lawyer office very near mrt, knows (because lawyer I talk to can give different version from what HDB told me) and willing to do a WILL for HDB flats.
It's to WILL a grandparent's HDB to grandchildren. Urgently need to settle this.
2 Law Firm I have talked / email to, both have office at HDB Hub, after giving info to them, both tell me in 1 week time can ready, but months still not ready.
buttercarp
02-06-12, 03:41
Talking about HDB, any kind soul here knows any lawyer, preferred lawyer office very near mrt, knows (because lawyer I talk to can give different version from what HDB told me) and willing to do a WILL for HDB flats.
It's to WILL a grandparent's HDB to grandchildren. Urgently need to settle this.
2 Law Firm I have talked / email to, both have office at HDB Hub, after giving info to them, both tell me in 1 week time can ready, but months still not ready.
Hi I have pm-ed u.
Collect rental from parents Hdb but keep all inside pockets.. What a good boy.
.....another possibility is he actually owns his parents' flat as well, another loop hole to own 2 HDB flats.
..there are possibly number of people doing that.
1.2 to 1.5 mil SGD is a good figure? If success, I will rent out all HDBs (mine and my parents) to sustain.
Yowetan, I think with your monthly income of $11K, you can support a S$1.5m condo using your bank's money. I support you! Chase your dreams!
I wont be around to see your success though, as I plan to retire overseas in my old age. SG is a gd place to work but not to retire.....hehe
buttercarp
02-06-12, 10:24
I feel so worried for yowetan.
I hope your parents and in laws have sufficient health insurance plans?
IfI were in your position, and with a large family, I would just be happy in a jumbo HDB flat. Or stay in a HDB flat near the elders if you want to be near them.
I will be in no hurry to get a private property.
You said you are in your early to mid thirties, you still have many more years ahead.
You can wait for a right time to buy.
The time may not be foreseeable in the near future but you are still young, you can afford to wait for, eg 10 - 15 years?
What about your kid(s) education?
Have you made plans for them?
Probably I am too conservative, but that's the reason why I fall asleep so easily every night!
I feel so worried for yowetan.
I hope your parents and in laws have sufficient health insurance plans?
IfI were in your position, and with a large family, I would just be happy in a jumbo HDB flat. Or stay in a HDB flat near the elders if you want to be near them.
I will be in no hurry to get a private property.
You said you are in your early to mid thirties, you still have many more years ahead.
You can wait for a right time to buy.
The time may not be foreseeable in the near future but you are still young, you can afford to wait for, eg 10 - 15 years?
What about your kid(s) education?
Have you made plans for them?
Probably I am too conservative, but that's the reason why I fall asleep so easily every night!
:cheers4:....sensible advice...:cheers4:
many many moons ago i never heed the advice of the elderly cos i was young and have my own thinking......today when i look back...sigh...should have listened to them...:o
:cheers4:....sensible advice...:cheers4:
many many moons ago i never heed the advice of the elderly cos i was young and have my own thinking......today when i look back...sigh...should have listened to them...:o
regret renting the landed or selling the condo ? ;)
regret renting the landed or selling the condo ? ;)
neither....:D....sold condo at peak and got a feel of landed living....its nice BUT not that nice...:)
many many moons ago a lot of older relatives adviced me dont play shares..i never listened...got burnt many times over...people say save money manage your finances i neber listened...i want to enjoy life partying/driving fast cars...that kind of thing now looking back i guess they were right so i become OLD man now advice young man...young man show me finger..:doh:...and the world goes Round and ROUND;)
I feel so worried for yowetan.
I hope your parents and in laws have sufficient health insurance plans?
IfI were in your position, and with a large family, I would just be happy in a jumbo HDB flat. Or stay in a HDB flat near the elders if you want to be near them.
I will be in no hurry to get a private property.
You said you are in your early to mid thirties, you still have many more years ahead.
You can wait for a right time to buy.
The time may not be foreseeable in the near future but you are still young, you can afford to wait for, eg 10 - 15 years?
What about your kid(s) education?
Have you made plans for them?
Probably I am too conservative, but that's the reason why I fall asleep so easily every night!
No insurances for my parents and in-laws; will depend on government policies and help. I believe hospital(s) will accept patients and provide necessary treatment even if we have no money. It was reported in straitstimes too. Hence, I am not worry over this.
Kid(s) education I will send them to good primary school. I will not throw in money like the enrichment classes but essential fundamental classes. I will probably opt for the PAP schools to enjoy heavy subsidies from government/MOE.
As mentioned, if I found one suitable unit in Mt Sinai, I will rent out my HDB flat as well to get another 2k+ disposal rental income. In total, I will be left with 7+2+2 = 11k SGD.
With the possible montly expenditure of 6k (Max) - I am left with 5k. Minus away the possible Mt Sinai PC loan, I might left with 1-2k excess cash. I believe we can live with it.
No insurances for my parents and in-laws; will depend on government policies and help. I believe hospital(s) will accept patients and provide necessary treatment even if we have no money. It was reported in straitstimes too. Hence, I am not worry over this.
Kid(s) education I will send them to good primary school. I will not throw in money like the enrichment classes but essential fundamental classes. I will probably opt for the PAP schools to enjoy heavy subsidies from government/MOE.
As mentioned, if I found one suitable unit in Mt Sinai, I will rent out my HDB flat as well to get another 2k+ disposal rental income. In total, I will be left with 7+2+2 = 11k SGD.
With the possible montly expenditure of 6k (Max) - I am left with 5k. Minus away the possible Mt Sinai PC loan, I might left with 1-2k excess cash. I believe we can live with it.
bro you are OPPOSITE of Mr BASICALLY....:D...hope you can huat big big
OLD man now advice young man...young man show me finger..:doh:...and the world goes Round and ROUND;)
er not happy dun share la , nobody force u right :tongue3:
er not happy dun share la , nobody force u right :tongue3:
ya nobody definately not you...:p
buttercarp
02-06-12, 12:05
No insurances for my parents and in-laws; will depend on government policies and help. I believe hospital(s) will accept patients and provide necessary treatment even if we have no money. It was reported in straitstimes too. Hence, I am not worry over this.
Subsidized care is BASIC care... this may not translate to quality care. Please bear this in mind.
Kid(s) education I will send them to good primary school. I will not throw in money like the enrichment classes but essential fundamental classes. I will probably opt for the PAP schools to enjoy heavy subsidies from government/MOE.
How to guarantee go to good primary school unless you are an old boy?
Good primary school does not mean problem solved hor.
Sometimes they like never teach much and expect kids to have help at home. Of course not all like that lah.
As mentioned, if I found one suitable unit in Mt Sinai, I will rent out my HDB flat as well to get another 2k+ disposal rental income. In total, I will be left with 7+2+2 = 11k SGD.
With so many people in the house, 11K can barely cover the monthly expenditure.
With the possible montly expenditure of 6k (Max) - I am left with 5k. Minus away the possible Mt Sinai PC loan, I might left with 1-2k excess cash. I believe we can live with it.
Is 6K possible with so many people at home?
regency321
02-06-12, 12:35
No insurances for my parents and in-laws; will depend on government policies and help. I believe hospital(s) will accept patients and provide necessary treatment even if we have no money. It was reported in straitstimes too. Hence, I am not worry over this.
Hi bro, I just wonder if you own a PC at Mt Sinai + another HDB flat for rental, will the social safety net still be applied to you?
As mentioned, if I found one suitable unit in Mt Sinai, I will rent out my HDB flat as well to get another 2k+ disposal rental income. In total, I will be left with 7+2+2 = 11k SGD.
With the possible montly expenditure of 6k (Max) - I am left with 5k. Minus away the possible Mt Sinai PC loan, I might left with 1-2k excess cash. I believe we can live with it.
This scenario assumes that both HDB can be rented out without any vacant period. But in a worst case scenario that both are vacant for whatever reason, will you still be able to tahan the instalment?
A number of bros here have given very good advice, I think you should plan carefully before leaping. Then again, your salary will not remain stagnant and will rise over time. Not discouraging you not to buy, but do seriously consider the worse case scenarios, and if your finances are not an issue, then you are probably ready.
Good luck !
Subsidized care is BASIC care... this may not translate to quality care. Please bear this in mind.
How to guarantee go to good primary school unless you are an old boy?
Good primary school does not mean problem solved hor.
Sometimes they like never teach much and expect kids to have help at home. Of course not all like that lah.
With so many people in the house, 11K can barely cover the monthly expenditure.
Is 6K possible with so many people at home?
BASIC care is sufficient since they are already old. No amount of high end sophiscated healthcare would improve the quality of life.
Yes, a primary school is the basic fundamental I can offer and afford in today's economy climate. I can provide the channel, however I will not throw away my hard earn money into those enrichment scam coffers.
Yes, 6K is sufficient as I have laid out the costing carefully. My parents are the one doing cooking and we will plan our groceries purchase carefully. The reason of choosing Mt Sinai as it is accessible to wet markets in Ayer Rajah, Ghim Moh, Clementi and JB (if I decided to go ahead with groceries purchase across the cross way).
11kSGD is barely enough but should be sufficient. I choose to get longer loan tenure to 1) reduce my monthly loan commitment, 2) complement with decreasing mortage term insurance. Hence, my plan is to owe the bank's money with little to no intention of clearing the loans.
Unless law has change, else once I am dismiss from this world the property still belongs to my family, my children.
i just learnt that rental is NOT a GOD given gift...logic tells you that at some point of time at tenant thats paying 2 to 3k in rental would succumb to BUYING a property instead of renting...where he pays less than his rental and he got a place to call his own.....:o
just a few weeks ago i was like so confident that my rental hdb is a given and my tenant is happy and living comfortably...then SUDDENLY out of the blue i get a call and its..."GAME OVER"...:cool:
Thankfully i am none the worse off...but cant imagine how it might affect other bros/sis...without proper planning/backing...
once again my 2:2cents: experience in life...
DISCLAIMER:Not meant as advice for the YOUNG and BOLD...live life as you wish....:)
Hi bro, I just wonder if you own a PC at Mt Sinai + another HDB flat for rental, will the social safety net still be applied to you?
This scenario assumes that both HDB can be rented out without any vacant period. But in a worst case scenario that both are vacant for whatever reason, will you still be able to tahan the instalment?
A number of bros here have given very good advice, I think you should plan carefully before leaping. Then again, your salary will not remain stagnant and will rise over time. Not discouraging you not to buy, but do seriously consider the worse case scenarios, and if your finances are not an issue, then you are probably ready.
Good luck !
Hi, fyi - if you admitted the patient into government hospital, they will not stop treatment unless you intervene.
However, you will recieve debts and this can be easily structure and be negotiate to faciliate the progressive payment aka installment.
Hence, as what I have had mentioned earlier it doesn't matter if I have buy them insurance for I have never hold a slight intention of paying off loan(s) and bill(s) incur back to the government. This is a loop hole.
Many foreigners are doing the same for our healthcare, and most of Singaporean are not doing so. So, upon knowing it I decided to try this!
i just learnt that rental is NOT a GOD given gift...logic tells you that at some point of time at tenant thats paying 2 to 3k in rental would succumb to BUYING a property instead of renting...where he pays less than his rental and he got a place to call his own.....:o
just a few weeks ago i was like so confident that my rental hdb is a given and my tenant is happy and living comfortably...then SUDDENLY out of the blue i get a call and its..."GAME OVER"...:cool:
Thankfully i am none the worse off...but cant imagine how it might affect other bros/sis...without proper planning/backing...
once again my 2:2cents: experience in life...
DISCLAIMER:Not meant as advice for the YOUNG and BOLD...live life as you wish....:)
Upon recieving termination from your tenant, are you going to end your landed rental as well?
i am beginning to wonder if you are "real" in this world...:o
no offence...;)
BASIC care is sufficient since they are already old. No amount of high end sophiscated healthcare would improve the quality of life.
Yes, a primary school is the basic fundamental I can offer and afford in today's economy climate. I can provide the channel, however I will not throw away my hard earn money into those enrichment scam coffers.
Yes, 6K is sufficient as I have laid out the costing carefully. My parents are the one doing cooking and we will plan our groceries purchase carefully. The reason of choosing Mt Sinai as it is accessible to wet markets in Ayer Rajah, Ghim Moh, Clementi and JB (if I decided to go ahead with groceries purchase across the cross way).
11kSGD is barely enough but should be sufficient. I choose to get longer loan tenure to 1) reduce my monthly loan commitment, 2) complement with decreasing mortage term insurance. Hence, my plan is to owe the bank's money with little to no intention of clearing the loans.
Unless law has change, else once I am dismiss from this world the property still belongs to my family, my children.
Bro... "good primary" schools are over-rated. They don't turn idiots into geniuses.
The best thing you can do for your children is to provide them an environment at home that is conducive for learning.
Btw wrt money, it is not how much money you have but how much excess money you have.
"good primary" schools are also neighbourhood schools but located in good neighbourhoods. By "good neighbourhood", I mean areas where families are in excess of money. This need not necessarily mean in Bukit Timah or Mt Sinai area... a school in a HDB area where conservative parents hoard up their money and readily spend on the education of their kids can produce top students too.
Once a primary school is established in producing top students, it becomes a vicious cycle and this is self perpetuating. For example in the 70's, Tao Nan compared to say ACS is miles apart, students were even embarassed to associated with such a "ching chong" sounding school. But if you look at the changing demographic and affluence of the Marine Parade area, you will know why the students tend to do better.
Kid(s) education I will send them to good primary school. I will not throw in money like the enrichment classes but essential fundamental classes. I will probably opt for the PAP schools to enjoy heavy subsidies from government/MOE
Upon recieving termination from your tenant, are you going to end your landed rental as well?
now deciding....:cool: ...maybe reno my "highly developed block"(HDB) flat and move back in....relax for 1 year everyday go HDB coffeshop read paper Lim Kopi.....wear singlet...been a while since i did that...:D
i am beginning to wonder if you are "real" in this world...:o
no offence...;)
trust me he is....i saw him before at flamingo valley showflat...:D
yowetan did not plan for many contingencies like Retrenchment of one of them of both. Back office work is always subject to outsourcing.
I tried to put myself into the shoe's of his parents.
1. rent out my HDB flat and keep my rental income
2. hardly any allowance for me
3. Do all the housework and cooking etc etc
4. taking care of the grandchildren.
5. no money/insurance for me if I fall sick
6. Will I be kicked out of the house if I am old and sick? who will take care of me?
7. what happen if one of them retrenched, do I need to sell my HDB to support them?
Conclusion : My parents are very fortunate that dun hv a son like yowetan.
trust me he is....i saw him before at flamingo valley showflat...:D
wao.....tattoo on his face??:confused:
Just to share my own experience which I thought is pretty similar to TS, my tenant gave me a surprise earlier this week by exercising the diplomatic clause. He works in a foreign bank and was given the marching order. Although I am given 2 mth's notice, I am unlikely to find a new tenant immediately after the current one shifts out. Likely to suffer a couple of months' vacancy without rentals while I quickly do some renov and refurb, plus I need to fork out $12k to repay him back his deposits
Things many a times do not happen as per planned, so need to be prudent esp when $$$ is concerned :doh:
Just to share my own experience which I thought is pretty similar to TS, my tenant gave me a surprise earlier this week by exercising the diplomatic clause. He works in a foreign bank and was given the marching order. Although I am given 2 mth's notice, I am unlikely to find a new tenant immediately after the current one shifts out. Likely to suffer a couple of months' vacancy without rentals while I quickly do some renov and refurb, plus I need to fork out $12k to repay him back his deposits
Things many a times do not happen as per planned, so need to be prudent esp when $$$ is concerned :doh:
you mean so diff to rent out?? or you just take this opportunity to reno...different thing le...:p
trust me he is....i saw him before at flamingo valley showflat...:D
I have never see you before?!
yowetan did not plan for many contingencies like Retrenchment of one of them of both. Back office work is always subject to outsourcing.
I tried to put myself into the shoe's of his parents.
1. rent out my HDB flat and keep my rental income
2. hardly any allowance for me
3. Do all the housework and cooking etc etc
4. taking care of the grandchildren.
5. no money/insurance for me if I fall sick
6. Will I be kicked out of the house if I am old and sick? who will take care of me?
7. what happen if one of them retrenched, do I need to sell my HDB to support them?
Conclusion : My parents are very fortunate that dun hv a son like yowetan.
I read yowetan's story with interest I believe I'm only slightly younger.
Just to add on: Intention to leave the loans (liabilities) for future generation (his dependents) to repay... :doh:
I think he need to understand that getting a house is only part of a story. Other than the location, it is basically an empty vessel.. need to feel it up with things that are cherished.
In the banking sector, I believe sure the employers are concerned about whether their employees themselves are financially sound. Could be risky career wise if there are surprises along the way.
No insurances for my parents and in-laws; will depend on government policies and help. I believe hospital(s) will accept patients and provide necessary treatment even if we have no money. It was reported in straitstimes too. Hence, I am not worry over this.
Kid(s) education I will send them to good primary school. I will not throw in money like the enrichment classes but essential fundamental classes. I will probably opt for the PAP schools to enjoy heavy subsidies from government/MOE.
As mentioned, if I found one suitable unit in Mt Sinai, I will rent out my HDB flat as well to get another 2k+ disposal rental income. In total, I will be left with 7+2+2 = 11k SGD.
With the possible montly expenditure of 6k (Max) - I am left with 5k. Minus away the possible Mt Sinai PC loan, I might left with 1-2k excess cash. I believe we can live with it.
Government need to feature your life story on TV.
what a sad case.
Government need to feature your life story on TV.
what a sad case.
This is the first time I realise this guy is a SAD case....
he will be throwing his old and sick parents to the Govt and he himself stay in the PC and collect rental income from his parents's HDB flat.
This is the first time I realise this guy is a SAD case....
he will be throwing his old and sick parents to the Govt and he himself stay in the PC and collect rental income from his parents's HDB flat.
It is early to tell if it is a SAD or GOOD case to have our government responsible for aging people/population in term of basic healthcare and silver lifestyle well-being.
We have a good discussion within the family, and we believe pooling our resources together and focus on our objective would be a better notion.
As mentioned, different people different stroke.
pinkpolkadot
02-06-12, 14:07
No insurances for my parents and in-laws; will depend on government policies and help. I believe hospital(s) will accept patients and provide necessary treatment even if we have no money. It was reported in straitstimes too. Hence, I am not worry over this.
If I am your parents I will be very sad. Very very sad.
If I am your parents I will be very sad. Very very sad.
I cannot comment on you but my parents agree with my thoughts.
I am not getting any insurance for myself because I think insurance is a scam. I would rather have the government pay for it.
pinkpolkadot
02-06-12, 14:12
I cannot comment on you but my parents agree with my thoughts.
I am not getting any insurance for myself because I think insurance is a scam. I would rather have the government pay for it.
Very very sad.
This is the first time I realise this guy is a SAD case....
he will be throwing his old and sick parents to the Govt and he himself stay in the PC and collect rental income from his parents's HDB flat.
This sort of sad cases are pretty common in today's society. on the surface, they claim it is for the better good for the "family" etc and will promise their folks that they will live and eat for free etc, but underneath they are simply taking advantage of their parent's love and home as a ATM machine to finance a lifestyle which they cant afford.
And when the old folks are old sick and grey, I guess the next step will be to do or not do whatever is necessary for them to kick the bucket so that they will have full control of their assets.
While all these are happening, the kids will learn and then do the same to their parents. What goes around comes around.
pinkpolkadot
02-06-12, 14:19
This sort of sad cases are pretty common in today's society. on the surface, they claim it is for the better good for the "family" etc and will promise their folks that they will live and eat for free etc, but underneath they are simply taking advantage of their parent's love and home as a ATM machine to finance a lifestyle which they cant afford.
And when the old folks are old sick and grey, I guess the next step will be to do or not do whatever is necessary for them to kick the bucket so that they will have full control of their assets.
While all these are happening, the kids will learn and then do the same to their parents. What goes around comes around.
**** Super like ah!
I cannot comment on you but my parents agree with my thoughts.
I am not getting any insurance for myself because I think insurance is a scam. I would rather have the government pay for it.
yowetan, u dun get insurance for yourself. U get it for your dependants!
That aside, I think getting hosp insurance for parents/in-laws is impt.. These should be the basic before committing to property..
Unless u seriously believe u get get away with not paying any bills, they can derail your dreams.
yowetan, u dun get insurance for yourself. U get it for your dependents!
That aside, I think getting hosp insurance for parents/in-laws is impt.. These should be the basic before committing to property..
Hi, I used to think like most Singaporean few years back getting a H&S plan. However, due to some circumstances I realised that using our CPF medisave account to be insured under government basic medishield would be suffice for most of us for a basic healthcare needs.
Moreover, due to their old age the premium for the H&S plan is getting irrelevant and unhelpful.
I certainly dun advocate throwing away money to the agents commission and the insurance companies coffer.
Also, I realise people love to talk about filial piety value(s) but I seriously doubt they really understand the definition of true filial piety.
pinkpolkadot
02-06-12, 14:29
Also, I realise people love to talk about filial piety value(s) but I seriously doubt they really understand the definition of true filial piety.
WOW LOOK WHO IS TALKING!
WOW LOOK WHO IS TALKING!
Talk is all he can lah.
He will NEVER be able to buy a PC at Mount Senai lah. Which bank will actually borrow someone who will have to depend on HDB rental to pay for a mortgage that he cant afford.
pinkpolkadot
02-06-12, 14:52
Talk is all he can lah.
He will NEVER be able to buy a PC at Mount Senai lah. Which bank will actually borrow someone who will have to depend on HDB rental to pay for a mortgage that he cant afford.
He already said this in post #82:
We work in a bank. Hence, LTV is not a concern.
Like that also can meh?. Whistle blow to MAS and his bubble of dream will be burst right in his face.
He already said this in post #82:
We work in a bank. Hence, LTV is not a concern.
Like that also can meh?. Whistle blow to MAS and his bubble of dream will be burst right in his face.
in his dream
I have never see you before?!
ha ha joking la...:D
movement_art
02-06-12, 15:09
I cannot imagine what Yowe is doing, no insurance???. Once illness strike.etc, your kids will suffer. Please do sometime about that.
Just Imagine if you lose your income and yet need to pay for medical and mortgages. You then want to buy, but no one want to cover, too late. You dun want your most love ones be getting busary in school(full of shame and embarrassed), Or wife work 2 jobs or parents go on working, to take care of you.
If you dun believe ask around those who is in the situation.
Very irresponsible.
Sincerely do something about it and get some insurance first then leverage.
No offence intended
ha ha joking la...:D
Ah, I see.
Btw, it seems the economy is bustling with activities. River isle is a success in punggol central.
With that, I believe there is strong demand in D10 Mt Sinai. I am waiting for opportunities.
All landlords who wish to dispose his/her Mt Sinai FH/999 PC, please do PM me your best price/offer.
I cannot imagine what Yowe is doing, no insurance???. Once illness strike.etc, your kids will suffer. Please do sometime about that.
Just Imagine if you lose your income and yet need to pay for medical and mortgages. You then want to buy, but no one want to cover, too late. You dun want your most love ones be getting busary in school(full of shame and embarrassed), Or wife work 2 jobs or parents go on working, to take care of you.
If you dun believe ask around those who is in the situation.
Very irresponsible.
Sincerely do something about it and get some insurance first then leverage.
No offence intended
The basic H&S and dependant scheme is already part of my employment benefits. It is covered.
As mentioned, I am getting the mortage term insurance to protect my asset(s) from government and banks so as to hand over my children/family with little/zero liabilities.
Your kind intention is appreciated, and please rest assure that my families are well-covered except my aging parents and in-laws whom I strategically position government policies to look after them.
you mean so diff to rent out?? or you just take this opportunity to reno...different thing le...:p
if your driving on a long straight road trying to reach your destination...and suddenly there is a road block...it takes a while to get around it...:cool:
some people will turn back i.e SELL their property
some will bash thru...i.e rent out to any tom dick harry at CHEAPER price...in process damaging your vehicle if its a roadblock or if its ur house...:confused::confused::confused:
some will just wait hoping to get clearance to go thru the roadblock...i.e in the meantime wash/polish/service your car OR if its an APT...reno...:D
so you see life is never a straight road without obstacles....think about it my friends....whether your on the road or sipping a magarita at your d9/10/11 luxury condo...:cool:
ikan bilis
02-06-12, 15:15
hmm... you people pls don;t see yowetan no up like that...
if he sells his parents' hdb, say $600K, plus 100K cash on hand, and use it as 40% deposit.... he has the resources to buy that $1.3-1.75mil condo... and i believe bank will finance that 60% LTV...
the only issues would be hdb mop... how is he going to buy pte condo and rent out his hdb without fulfilling his hdb mop ??... hmm... tough question on how to get around with that.... :D
i'm only saying he has the resources to do it hor... never say if it is right/wrong thing doing it... pls don;t flame me hor... me small fish only... :rolleyes: ;)
hmm... you people pls don;t see yowetan no up like that...
if he sells his parents' hdb, say $600K, plus 100K cash on hand, and use it as 40% deposit.... he has the resources to buy that $1.3-1.75mil condo... and i believe bank will finance that 60% LTV...
the only issues would be hdb mop... how is he going to buy pte condo and rent out his hdb without fulfilling his hdb mop ??... hmm... tough question on how to get around with that.... :D
i'm only saying he has the resources to do it hor... never say if it is right/wrong thing doing it... pls don;t flame me hor... me small fish only... :rolleyes: ;)
i rather be a SMALL fish with sharp teeth than a BIG fish with NO teeth...:D
The basic H&S and dependant scheme is already part of my employment benefits. It is covered.
As mentioned, I am getting the mortage term insurance to protect my asset(s) from government and banks so as to hand over my children/family with little/zero liabilities.
Your kind intention is appreciated, and please rest assure that my families are well-covered except my aging parents and in-laws whom I strategically position government policies to look after them.
bro honestly i pity you looks like your shoulder very heavy got a lot of responsibility in your life and a lot of people to take care....think of your own well being sometimes this type of stress got INVISIBLE damage and can affect your health...so eat well exercise regularly and do good deed to those less fortunate so you can get good karma in return....:)
bro honestly i pity you looks like your shoulder very heavy got a lot of responsibility in your life and a lot of people to take care....think of your own well being sometimes this type of stress got INVISIBLE damage and can affect your health...so eat well exercise regularly and do good deed to those less fortunate so you can get good karma in return....:)
Thank you for the well wishes and advices. I feel I have to do something in my lifetime. I want to do something that would benefit my family line in next generation.
If failed, I just take it easy and move on. If I dun try, there can never ever a chance in many lifetime(s) after me.
Also, I realise people love to talk about filial piety value(s) but I seriously doubt they really understand the definition of true filial piety.
Then what is your value and definition?
:sleep:
Thank you for the well wishes and advices. I feel I have to do something in my lifetime. I want to do something that would benefit my family line in next generation.
If failed, I just take it easy and move on. If I dun try, there can never ever a chance in many lifetime(s) after me.
$$$ more important or health more important?
if your prediction is wrong, you gonna have problem sleeping every night...
$$$ more important or health more important?
if your prediction is wrong, you gonna have problem sleeping every night...
I have plan and prepare for the worst. Bankruptcy is nothing to cry and ashame of.
I have plan and prepare for the worst. Bankruptcy is nothing to cry and ashame of.
ok lor.
bet your $$ and don't look back.
:cool:
It is early to tell if it is a SAD or GOOD case to have our government responsible for aging people/population in term of basic healthcare and silver lifestyle well-being.
We have a good discussion within the family, and we believe pooling our resources together and focus on YOUR objective would be a better notion.
As mentioned, different people different stroke.
Lol.. this is sickening.
How to get approval from hdb to rent out both hubs and stay in a condo?do you mean hdb is sleeping?:cool:
I am currently staying in 5 room HDB with my parents. I am renting out my parent's HDB flat now. This is why I have disposal rental income 2k+.
My plan is if I am going to get Mt Sinai condo (not apartment) FH/Leasehold successfully, I will house my parents and my family in it again and rent out my 5 room HDB flat as well. Then I will have 2k+ x 2 = 4k+ disposal rental income, coupled with my household income 7k+.
I believe total of 11k+ to 12k would be well-support to finance my condo?
I am keen in Flamingo Valley, however Mt Sinai has always been my 2nd choice after landed. FV is 3rd choice.
How to get approval from hdb to rent out both hubs and stay in a condo?do you mean hdb is sleeping?:cool:
That's a secret.
How to get approval from hdb to rent out both hubs and stay in a condo?do you mean hdb is sleeping?:cool:
hdb got say rent out cannot stay pc meh??
ikan bilis
02-06-12, 16:17
How to get approval from hdb to rent out both hubs and stay in a condo?do you mean hdb is sleeping?:cool:
legal lah, as long as both hdb met mop... one hdb belonged to parent, another hdb is his...:beats-me-man:
Thank you for the well wishes and advices. I feel I have to do something in my lifetime. I want to do something that would benefit my family line in next generation.
If failed, I just take it easy and move on. If I dun try, there can never ever a chance in many lifetime(s) after me.
To put things in perspective, your plan of doing something in your lifetime calls for making use of the previous generation to fulfill your personal dreamswhile at the same time, taking risks that may cause even your next generation to be in financial encumbrance so that you can do something that would benefit your family line.
And at the same time, intending to delegate your moral responsibilities of taking care of your elderly members to the government and hence the tax paying society at large.
Does the above make any sense? :doh:
Always thought landed is for own stay but condos are for investment. :D
Landed rise previously because in the past 3 years when MND is under MBT, MND approved almost all PRs who applied to buy landed! Now you think this will happen again after the watershed GE and MBT? Don't believe, don't have to wait long, wait till 2016 and you can see how the landed transactions perform.
50,000 landed houses? that is 5% of total housing. Unfortunately, <6% citizens can afford to buy landed and of that probably only 3% is willing to buy landed to live in (doesn't make sense to invest in landed as the net yield is negative!) while the rest rather buy bungalows-in-the-sky!, so we should see oversupply of landed by 2016. :banghead:
To put things in perspective, your plan of doing something in your lifetime calls for making use of the previous generation to fulfill your personal dreamswhile at the same time, taking risks that may cause even your next generation to be in financial encumbrance so that you can do something that would benefit your family line.
And at the same time, intending to delegate your moral responsibilities of taking care of your elderly members to the government and hence the tax paying society at large.
Does the above make any sense? :doh:
Frankly, this is a calculated move.
This is in response to lajia too. This is the root of the problem of kbw, not build so many hdb flats and still not enough. I thought there must valid reason like parents need to stay with children or vice versa as elderly parents need to be taken care, etc. before they can rent out their flats and not just MOP. Maliki Oman mentioned that they re catching such people without formal approval from hdb. :scared-3:
legal lah, as long as both hdb met mop... one hdb belonged to parent, another hdb is his...:beats-me-man:
Parents may have lots of money and do not need yowetow's allowance. Alternatively, yoweton's parent may give all the money to buy the condo at mount Sinai. Not sure which is better.
I feel so worried for yowetan.
I hope your parents and in laws have sufficient health insurance plans?
IfI were in your position, and with a large family, I would just be happy in a jumbo HDB flat. Or stay in a HDB flat near the elders if you want to be near them.
I will be in no hurry to get a private property.
You said you are in your early to mid thirties, you still have many more years ahead.
You can wait for a right time to buy.
The time may not be foreseeable in the near future but you are still young, you can afford to wait for, eg 10 - 15 years?
What about your kid(s) education?
Have you made plans for them?
Probably I am too conservative, but that's the reason why I fall asleep so easily every night!
Know on loopholes in our system. Know of a couple holding good position in MNCs and driving good continental cars and their parents are staying in rental flat. Wonder how did they do it and why they do such things?
Hi bro, I just wonder if you own a PC at Mt Sinai + another HDB flat for rental, will the social safety net still be applied to you?
This scenario assumes that both HDB can be rented out without any vacant period. But in a worst case scenario that both are vacant for whatever reason, will you still be able to tahan the instalment?
A number of bros here have given very good advice, I think you should plan carefully before leaping. Then again, your salary will not remain stagnant and will rise over time. Not discouraging you not to buy, but do seriously consider the worse case scenarios, and if your finances are not an issue, then you are probably ready.
Good luck !
This is in response to lajia too. This is the root of the problem of kbw, not build so many hdb flats and still not enough. I thought there must valid reason like parents need to stay with children or vice versa as elderly parents need to be taken care, etc. before they can rent out their flats and not just MOP. Maliki Oman mentioned that they re catching such people without formal approval from hdb. :scared-3:
nothing wrong with renting because you can't have too many rules...rental mrkt need to have enough supply too as when you talk about opening our gate, we dont expect everyone will just come in to buy right? some will buy but most will rent i suppose. logically speaking, i could be wrong, just my :2cents:
You may negotiate with your existing tenant to allow you to bring prospective tenants for viewing while they are still there. Too bad you have diplomatic clause.
Just to share my own experience which I thought is pretty similar to TS, my tenant gave me a surprise earlier this week by exercising the diplomatic clause. He works in a foreign bank and was given the marching order. Although I am given 2 mth's notice, I am unlikely to find a new tenant immediately after the current one shifts out. Likely to suffer a couple of months' vacancy without rentals while I quickly do some renov and refurb, plus I need to fork out $12k to repay him back his deposits
Things many a times do not happen as per planned, so need to be prudent esp when $$$ is concerned :doh:
It is not me. Check with hdb website on rental. Good luck. I understand from IRAS has system that connects hdb with pcs now.
nothing wrong with renting because you can't have too many rules...rental mrkt need to have enough supply too as when you talk about opening our gate, we dont expect everyone will just come in to buy right? some will buy but most will rent i suppose. logically speaking, i could be wrong, just my :2cents:
You may negotiate with your existing tenant to allow you to bring prospective tenants for viewing while they are still there. Too bad you have diplomatic clause.
Once Dip Clause is activated, immediately can open for viewing.
Most expat's rental agreement will have Dip clause.
This the way for them to get our while u dont have such clauses.
For youwe-whatever --> just buy!
DKSG
interesting...can you point me to the statistics? over supply of landed??:confused: not PC??:confused: from one end of pasir ris to the other end, take a walk and you will know...this is just the beginning, next will be ponggol. I'm interested to look at the numbers...one day ppl will realise and appreciate to live in bigger land if they realise that the money they use for PC actually can afford a landed. ;) i cannot get myself to buy a condo if i can get a landed or cluster...just me of course...:o
Landed rise previously because in the past 3 years when MND is under MBT, MND approved almost all PRs who applied to buy landed! Now you think this will happen again after the watershed GE and MBT? Don't believe, don't have to wait long, wait till 2016 and you can see how the landed transactions perform.
50,000 landed houses? that is 5% of total housing. Unfortunately, <6% citizens can afford to buy landed and of that probably only 3% is willing to buy landed to live in (doesn't make sense to invest in landed as the net yield is negative!) while the rest rather buy bungalows-in-the-sky!, so we should see oversupply of landed by 2016. :banghead:
But what if out oof job? No more coverage.
The basic H&S and dependant scheme is already part of my employment benefits. It is covered.
As mentioned, I am getting the mortage term insurance to protect my asset(s) from government and banks so as to hand over my children/family with little/zero liabilities.
Your kind intention is appreciated, and please rest assure that my families are well-covered except my aging parents and in-laws whom I strategically position government policies to look after them.
There are instances where tenant has to find a new tenant on his own or through agents where he paid the agent's commission. Furthermore, new rental must be at least the same as existing rental or more.
Once Dip Clause is activated, immediately can open for viewing.
Most expat's rental agreement will have Dip clause.
This the way for them to get our while u dont have such clauses.
For youwe-whatever --> just buy!
DKSG
It is not me. Check with hdb website on rental. Good luck. I understand from IRAS has system that connects hdb with pcs now.
enlighten me...what i know is that once you rent out the whole unit (after fulfilling the MOP), you need to pay property tax...
Be careful. Don't end up losing both flats and ....
That's a secret.
Not so straight. You need approval. :scared-5: Go to the website.
enlighten me...what i know is that once you rent out the whole unit (after fulfilling the MOP), you need to pay property tax...
:cheers4:....sensible advice...:cheers4:
many many moons ago i never heed the advice of the elderly cos i was young and have my own thinking......today when i look back...sigh...should have listened to them...:o
Fully agreed with radah and cupgirl!
When I was younger, i tot it's my right for having a dream. To help me fulfilling the dream of owning a flat at 22, my dad helped me paid my 5% deposit for my first HDB while my GF (wife now) paid off the balance downpayment. Ironically, my parent forgo their opportunity to own HDB unut but continy to rent from HDB...
2 years later, my dad passed away (cancer) while I've just started to built my career while my mum continue to stay at rented HDB flat...
After my eldest borned, I slowly begin to understand why parents always support their children's dream... To sum it up, MOST parents will scarified their own welfares FOR THE SAKE OF THEIR KIDS if they have to.
Till today, I've live with regrets for asking my dad to sacrify his welfares...and I don't have the chance to repay his love.
My mum is staying with me and has rented out her HDB unit (I helped her purchased a 3 room HDB unit about 10 years ago). She proposed to use the rental to cover part of my monthly payment to bank. Instead of accepting her offers, I would rather letting her to use these rental to travel with her frens. These days, i will try ways and means to please my mum. She will definitely "scold" me for spending monies unnecessarily but I believe deep in her heart, she must be feeling very "rewarding"..
I hope ah-Tan can care less for himself but more toward his parents... 小心子欲养而亲不在。。。
Fully agreed with radah and cupgirl!
When I was younger, i tot it's my right for having a dream. To help me fulfilling the dream of owning a flat at 22, my dad helped me paid my 5% deposit for my first HDB while my GF (wife now) paid off the balance downpayment. Ironically, my parent forgo their opportunity to own HDB unut but continye to rent from HDB...
2 years later, my dad passed away (cancer) while I've just started to built my career while my mum continue to stay at rented HDB flat...
After eldest borned, I slowly begin to understand why parents always support their children's dream... To sum it up, MOST parents will scarified their own welfares FOR THE SAKE OF THEIR KIDS if they have to.
Till today, I've live with regrets for asking my dad to sacrify his welfares...and I don't have the chance to repay his love.
My mum us staying with me and she has rented her HDB. She proposed to use the rental to cover part of my monthly payment to bank. Instead of accepting her offers, I would rather letting her to use these rental to travel with her frens. These days, i will try ways and means to please my mum. She will definitely "scold" me for spending monies unnecessarily but I believe deep in her heart, she must be feeling very "rewarding"..
I hope ah-Tan can care less for himself but more toward his parents... 小心子欲养而亲不在。。。
Like what some HK auntie said earlier :
人在做， 天在看 !
I agree that in earlier times, parents do help children get their first property, etc. But to demand that subsequently instead of spending the monies on their parents to let them make the best of their Golden Years is inhuman! More inhuman that MMs!
My parents go on holidays now every few months!~ Until they say they have no more places they keen to go anymore! And eat whatever good (no necessary expensive) food they like! My only wish going forward is to spend even more time with them.
Without heaven, there is no earth,
Without earth, where go home,
Without home, where got parents,
Without parents, where got YOU!!!
DKSG
hmm... you people pls don;t see yowetan no up like that...
if he sells his parents' hdb, say $600K, plus 100K cash on hand, and use it as 40% deposit.... he has the resources to buy that $1.3-1.75mil condo... and i believe bank will finance that 60% LTV...
the only issues would be hdb mop... how is he going to buy pte condo and rent out his hdb without fulfilling his hdb mop ??... hmm... tough question on how to get around with that.... :D
i'm only saying he has the resources to do it hor... never say if it is right/wrong thing doing it... pls don;t flame me hor... me small fish only... :rolleyes: ;)
At the age of 30+++ and still relying on parent's resources to fulfill his "dream".....
:doh:
If my son asked my to support, I sure say Ok.. at worst, sell my PC to support his dream.... however, deep in my heart, i would rather him not to wear a big hat when his head is not big enough to wear...
I have been trying to stay away to write in here to express my opinion on Ah-tan... but somehow, I think he is really....:doh:
At the age of 30+++ and still relying on parent's resources.....
:doh:
This kind of stories are very common one!
The ending is also predictable!
When times are bad and they kenna hit by retrenchments, etc what happened ? They reckon that since parents already sacrificed so much for them already, might as well sacrifice to the max!
Anyway, not for us to comment also la!
Its other people's own business.
We are only say : 人在做 天在看 ！
DKSG
TheOnlyGayInTheVillage
02-06-12, 17:44
I fully support bro yowetan goal to buy landed, coz when times get really tough and rough it is much safer than high rise...
Parents always think about thier children. Have always asked them to use up all their money and do not leave any for us. IMO, it is our time and grandchildren time with them that they enjoy most.
TheOnlyGayInTheVillage
02-06-12, 17:48
This kind of stories are very common one!
The ending is also predictable!
When times are bad and they kenna hit by retrenchments, etc what happened ? They reckon that since parents already sacrificed so much for them already, might as well sacrifice to the max!
Anyway, not for us to comment also la!
Its other people's own business.
We are only say : 人在做 天在看 !
DKSG
人做天看而天不谴
你做他看比谁有钱?
Parents always think about thier children. Have always asked them to use up all their money and do not leave any for us. IMO, it is our time and grandchildren time with them that they enjoy most.
You got the essence and drift of what elders want from us.
It is not the travelling etc or whatever lifestyle many preached here works for my parents.
As mentioned before many times, different people different stroke.
This kind of stories are very common one!
The ending is also predictable!
When times are bad and they kenna hit by retrenchments, etc what happened ? They reckon that since parents already sacrificed so much for them already, might as well sacrifice to the max!
Anyway, not for us to comment also la!
Its other people's own business.
We are only say : 人在做 天在看 ！
DKSG
Yup fully agreed with you.
The worst thing that I see is...
Ah Tan seem to be very conbfident wor...
Wait till he see how bank (worst, he is out of job) asking him to top up the loan difference when property market is down...he will know how miserable life can be...
In today business.... Nothing is constant, CHANGING is CONSTANT!
I really hope ah-tan can fully understand we mean good to him...
Trapping-bird
02-06-12, 17:50
Thank you for the well wishes and advices. I feel I have to do something in my lifetime. I want to do something that would benefit my family line in next generation.
If failed, I just take it easy and move on. If I dun try, there can never ever a chance in many lifetime(s) after me.
Do something good buy keeping ur parents rental and not giving them a single cent? As a grown up son, this is the least thing I will do to my parents..
Yup fully agreed with you.
The worst thing that I see is...
Ah Tan seem to be very conbfident wor...
Wait till he see how bank (worst, he is out of job) asking him to top up the loan difference when property market is down...he will know how miserable life can be...
In today business.... Nothing is constant, CHANGING is CONSTANT!
I really hope ah-tan can fully understand we mean good to him...
Hi, I understand your good intent.
Having said that, we have analyze our situation and assess our ground multiple times. My wife and myself have concluded that we are pretty much stable for we are decent employees with below market rate salary which is no beneficial to a downsizing department in term of cost cutting.
There are many high income earners who should be worrying when/if the recession really comes.
TheOnlyGayInTheVillage
02-06-12, 17:51
Parents always think about thier children. Have always asked them to use up all their money and do not leave any for us. IMO, it is our time and grandchildren time with them that they enjoy most.
My parents buy whichever they like... Go for holidays many times a year, buy stuff for my niece, though never pay a single cent for my property downpayment. With every MM I rent out I bump up their allowance... They look happy.
I fully support bro yowetan goal to buy landed, coz when times get really tough and rough it is much safer than high rise...
Landed is facing the brunt of new restrictions of influx of foreigners leh!
You want Ah-Tan to kenna big time ?
Haha!
Like I always say, NEVER advise people to buy or sell, just tell them the facts we want them to consider, thats helping them.
DKSG
TheOnlyGayInTheVillage
02-06-12, 17:54
Landed is facing the brunt of new restrictions of influx of foreigners leh!
You want Ah-Tan to kenna big time ?
Haha!
Like I always say, NEVER advise people to buy or sell, just tell them the facts we want them to consider, thats helping them.
DKSG
My reason for suggesting landed were pretty clear no?
Hi, I understand your good intent.
Having said that, we have analyze our situation and assess our ground multiple times. My wife and myself have concluded that we are pretty much stable for we are decent employees with below market rate salary which is no beneficial to a downsizing department in term of cost cutting.
There are many high income earners who should be worrying when/if the recession really comes.
I wish you all the best.
If you can and for goodness sake.... try to live on your own and let your parents keep their share of earning (even if their monry will become yours hopefully many many years later...)
last but not least, GREEDs and DISIREs are the cause of suffering...
Your parents will felt more pain for you than yourself if you run into finacial hardship... Letting parent feeling peace and at ease is the greatest fillial act!
:2cents:
They are already millionaires. So, they only need our time. Just want to spend more time with them as a family and wish my children can follow.
My parents buy whichever they like... Go for holidays many times a year, buy stuff for my niece, though never pay a single cent for my property downpayment. With every MM I rent out I bump up their allowance... They look happy.
I am currently staying in 5 room HDB with my parents. I am renting out my parent's HDB flat now. This is why I have disposal rental income 2k+.
My plan is if I am going to get Mt Sinai condo (not apartment) FH/Leasehold successfully, I will house my parents and my family in it again and rent out my 5 room HDB flat as well. Then I will have 2k+ x 2 = 4k+ disposal rental income, coupled with my household income 7k+.
I believe total of 11k+ to 12k would be well-support to finance my condo?
I am keen in Flamingo Valley, however Mt Sinai has always been my 2nd choice after landed. FV is 3rd choice.
There is no short cut to riches. it is either you have it or you dont.
Just by looking at your household income of $7k, I would advise you to go get an EC instead of dreaming about Mount Sinai. A 3 bedder apartment in that area will easily set you back around min $2m.
You sure your $7k income can qualify owning a $2m 2nd property while you still have an existing HDB loan to service?
I love this forum because there are many bros and sis here always offer their sincere advice.
No matter what advices, it is always very important for the TS to consider if all those advices are helpful. No one knows the situation better than the person in that situation.
And do not blame anyone if the advice is wrong as it is the person who makes the decision should take the responsibility. I hate those people only knows how to blame people when they make the wrong decision.
I hope that TS would reflect those advices and if you think you had make the right decision then by all means. No one can take care of you including government. All the best to you for whatever decisions you had made.
Not sure whats happening to sg men nowadays. My gf family have been providing her husband free meal n lodging for years, pay for their wedding dinner in don't know which 5 stars hotel, pay the hospitalization cost when she gave birth n that cost them 20k. Can go Europe Japan etc without giving their parents a single cent. Can buy 6k Tiffany earring n nothing for the parents. My gf has to pay for the child's education, n her parents is providing the basic needs for the grandchild eg diapers n milk powder. Think now my gf parents are thinking of selling their flat so that they can provide them with the downpayment. Her mum is a housewife n father is a semi retiree, not self employed. Its has been like 10 years n the guy is in his early fourties, my gf is her mid thirties. The guy never pay a single cent.
Anyway, we need to have a real case study here. Lets support his decision n eat popcorn. Die also not our problem.
Not sure whats happening to sg men nowadays. My gf family have been providing her husband free meal n lodging for years, pay for their wedding dinner in don't know which 5 stars hotel, pay the hospitalization cost when she gave birth n that cost them 20k. Can go Europe Japan etc without giving their parents a single cent. Can buy 6k Tiffany earring n nothing for the parents. My gf has to pay for the child's education, n her parents is providing the basic needs for the grandchild eg diapers n milk powder. Think now my gf parents are thinking of selling their flat so that they can provide them with the downpayment. Her mum is a housewife n father is a semi retiree, not self employed. Its has been like 10 years n the guy is in his early fourties, my gf is her mid thirties. The guy never pay a single cent.
Anyway, we need to have a real case study here. Lets support his decision n eat popcorn. Die also not our problem.
wow good life man!! just like a 中国男人，等女人养.
die not our problem, but will be his innocent family member's problem :scared-1:
To add on, my gf n hubby only want to stay in condo.
What can we do when The son can't be bother ? Anyway I need to see some success story before committing. Lol:D
Trapping-bird
02-06-12, 19:41
To add on, my gf n hubby only want to stay in condo.
What can we do when The son can't be bother ? Anyway I need to see some success story before committing. Lol:D
You are right,, sad to see such cases.. No wonder more people outbthere said Sg men cannot make it.. All thanks to them.
Not sure whats happening to sg men nowadays. My gf family have been providing her husband free meal n lodging for years, pay for their wedding dinner in don't know which 5 stars hotel, pay the hospitalization cost when she gave birth n that cost them 20k. Can go Europe Japan etc without giving their parents a single cent. Can buy 6k Tiffany earring n nothing for the parents. My gf has to pay for the child's education, n her parents is providing the basic needs for the grandchild eg diapers n milk powder. Think now my gf parents are thinking of selling their flat so that they can provide them with the downpayment. Her mum is a housewife n father is a semi retiree, not self employed. Its has been like 10 years n the guy is in his early fourties, my gf is her mid thirties. The guy never pay a single cent.
Anyway, we need to have a real case study here. Lets support his decision n eat popcorn. Die also not our problem.
wah kao..
this man is eat soft rice ah..
if you stay condo, monthly maint. fee is at least $200++/mo for 2 bedders..
so, see your income lor..
ms stella, r u chio bu with a good heart?:D
at least share the expenses 50/50
You are right,, sad to see such cases.. No wonder more people outbthere said Sg men cannot make it.. All thanks to them.
N not all sg ladies r materialistic. Should be irregardless of nationality. Lol:D
wah kao..
this man is eat soft rice ah..
if you stay condo, monthly maint. fee is at least $200++/mo for 2 bedders..
so, see your income lor..
ms stella, r u chio bu with a good heart?:D
Sorry hor. Need 3 bedrooms at least.
U handsome n rich? :D
N not all sg ladies r materialistic. Should be irregardless of nationality. Lol:D
which nationality r u?
indo chinese?
:o
Sorry hor. Need 3 bedrooms at least.
U handsome n rich? :D
....
me is good & clean boy.... :ashamed1:
which nationality r u?
indo chinese?
:o
Don't kpo la:tongue3:
ikan bilis
02-06-12, 19:51
Not sure whats happening to sg men nowadays. My gf family have been providing her husband free meal n lodging for years, pay for their wedding dinner in don't know which 5 stars hotel, pay the hospitalization cost when she gave birth n that cost them 20k. Can go Europe Japan etc without giving their parents a single cent. Can buy 6k Tiffany earring n nothing for the parents. My gf has to pay for the child's education, n her parents is providing the basic needs for the grandchild eg diapers n milk powder. Think now my gf parents are thinking of selling their flat so that they can provide them with the downpayment. Her mum is a housewife n father is a semi retiree, not self employed. Its has been like 10 years n the guy is in his early fourties, my gf is her mid thirties. The guy never pay a single cent.
Anyway, we need to have a real case study here. Lets support his decision n eat popcorn. Die also not our problem.
your gf got another sister, who is still single ??... :D
your gf got another sister, who is still single ??... :D
Sorry, I aim her brother already.
Trapping-bird
02-06-12, 20:03
your gf got another sister, who is still single ??... :D
Many buoyas here..
ikan bilis
02-06-12, 20:04
Sorry, I aim her brother already.
heya... wasted,... with you come in kacau around... no free rice for me liow... :beats-me-man:
me siam this one and swim to somewhere else looking for my mermaid... :rolleyes:
ikan bilis
02-06-12, 20:06
Many buoyas here..
haha.... i like that.... think i will change my nick to buaya soon... :D
Trapping-bird
02-06-12, 20:12
haha.... i like that.... think i will change my nick to buaya soon... :D
Haha, ur kan-Hee-Kia not power enough ..
Bro Radha, I would suggest you test the market before making any decision. My HDB tenent called me last month to inform his decision to move out exercising diplomatic clause.
I was worried about the loss of rental income and was even wondering if I should just sell and cash-out my HDB, but guess what..got another tenent who signed up at a higher rental. :cheers1:
Life is full of possibilities...Now I thank my old tenent for the extra few $100 I am getting due to him moving out earlier.;)
Bro Yowetan, I have been following your thread right from day 1 when you wanted to buy a house in mt sinai as there are good schools in that area.
Just sharing my views-
Considering your age, you should take risk. We all know high reward usually comes with high risk.
I took a very high risk by paying a record price for my condo and leveraging heavily on personal loans to buy it.:scared-4:
I was lucky that the property prices moved up further and I was able to settle the personal loans with only the housing loan pending now. I was able to hold on to my HDB as a backup incase anything bad happened.
When I say, YOU take risk..its maybe waiting for you to complete the MOP and using your HDB's sale as 80% for your next property. Let your parents/in-laws keep their homes. They will still help you incase you are unsuccessful in your venture.
Your approach is VERY VERY VERY high risk as you are compounding your backup options also to jump into your dream home.:(
Believe me, when times are bad...even family, friends or sg garmen wont do much for you.
You may be lucky that you buy your dream property and prices move further making it a great buy...but do you really want to take such a big risk..even if calculated..:)
Hi, I understand your good intent.
Having said that, we have analyze our situation and assess our ground multiple times. My wife and myself have concluded that we are pretty much stable for we are decent employees with below market rate salary which is no beneficial to a downsizing department in term of cost cutting.
There are many high income earners who should be worrying when/if the recession really comes.
buttercarp
03-06-12, 00:50
With the possible montly expenditure of 6k (Max) - I am left with 5k. Minus away the possible Mt Sinai PC loan, I might left with 1-2k excess cash. I believe we can live with it.
At this rate the thread is going, it should be titled "Advice to yowetan".
Yowetan, how do you survive on 6-7k when you have 7 adults and 1 child (and another presumably on the way)?
I want to know if it is possible and if so would like to seek advice on how you do it.
Let me guess .......
No aircon.
Bathe with rain water or just bathe once every few days.
Use rain water to wash clothes.
Eat mainly ikan bilis and sweet potato.
No car.
No holiday.
No broadband.
No smartphone.
No data plan for mobile.
If the above is true, then really.... it is not worthwhile.
There is no quality of life.
It is like a church mouse.
Have such a big compound but so little to eat.
I think he is someone who will appear in the news or tv feature eventually for succeeding... more so if he got burnt trying...
I took a risk when I got my PC (not MM!) when most of my peers got HDB for their first house. On hindsight, based on present circumstances should have bought a much bigger unit :banghead: But that would have stretched myself financially then, so no regrets.
Don't think his is a calculated risk at all... it is purely a gamble that many things will turn out fine and be within control.
Always like these 2 quotes:
1) Fortune favors the bold
2) Fools rush in where angels fear to tread
The desire to live in condo and landed is very strong in yowetan.
Like someone mentioned, I think EC is the best option for you.
It is a condo after all and you can get >1800sqft for under $1.2mil.
Good for your extended family.
The desire to live in condo and landed is very strong in yowetan.
Like someone mentioned, I think EC is the best option for you.
It is a condo after all and you can get >1800sqft for under $1.2mil.
Good for your extended family.
...to get an EC he would have to sell one of his 2 HDBs.
Basically its not a BASIC choice, but he is banking on high-stake gamble - going in at a historical peak without willing to dispose of what are in his hand.
His parents are at an age where he is lucky that they are still able to take care of his Home while he and his wife go out to work. (At this point I am unsure if his in-laws are staying with him?) What's more this parents willingly contribute the rental of their HDBs to his income since whenever. He is banking on them to continue status quo.
He is banking on the govt to take care of the parents in event that they fall sick, and willing to put all his savings to buy a 3rd property.
A FH condo with 3 bedroom in Mt Sinai(...he is banking that it will still be in the region of 1.2-1.5 million) ... and the conservancy....possibly about $400-500pm? ( He forgot to list down this additional cost and property tax)
When his children go to school with both parents working, other costs that may not be evident until one realized that good schools are good because majority of the students there are competitive, and competitive means money as majority resort to tuition to stay competitive. Is he banking on his children to be geniuses that are independent learners? And staying near Henry Park, which he is banking on, does not guarantee a place there either.
And when his parents grew old they may not be as strong and he may need to get a maid......hopefully he and his wife's income will grow proportionately during the growing-up years of both his kids and parents. Banking on a bank job that pays when times are good.........
Hope the Bank do not run when the crunch comes, but of course there are success stories from the past, I have a friend who was a teacher together with his wife, used to owned Ixora(this went en bloc, reaping $5m each for the owners a few yrs back) and City Towers at the same time on teachers' salaries...because they borrowed from relative to buy their first PC and moves up from there. There is also another friend, also, a teacher, owns a landed with pool, moving up from a Sengkang flat to Trevorse to another PC and the current Landed by timing his investment well, sacrificing certain convenience like car for a duration etc.
pinkpolkadot
03-06-12, 07:29
人做天看而天不谴
你做他看比谁有钱?
兄弟, 人生意义不仅仅在于钱.
...There is also another friend, also, a teacher, owns a landed with pool, moving up from a Sengkang flat to Trevorse to another PC and the current Landed by timing his investment well, sacrificing certain convenience like car for a duration etc.Difficult to sacrifice cars when kids are still young. Travelling and taking them to school if school is like 20 mins ride away. If taking bus, it'll be at least 40 mins. Moving between house (1 kid at home) and school (1 kid in school) is no joke. Take 2 young kids up and down the bus during morning peak hours is no joke too. That is only bringing the kid to sch. Picking the kid from sch is another thing. That is only one weekday... :eek:
pinkpolkadot
03-06-12, 07:32
I love this forum because there are many bros and sis here always offer their sincere advice.
No matter what advices, it is always very important for the TS to consider if all those advices are helpful. No one knows the situation better than the person in that situation.
And do not blame anyone if the advice is wrong as it is the person who makes the decision should take the responsibility. I hate those people only knows how to blame people when they make the wrong decision.
I hope that TS would reflect those advices and if you think you had make the right decision then by all means. No one can take care of you including government. All the best to you for whatever decisions you had made.
who is TS?
Trapping-bird
03-06-12, 08:48
[QUOTE=pinkpolkadot]who is TS?[/QUOTET
TS is thread spreader
buttercarp
03-06-12, 10:23
who is TS?
TS = thread starter ( the person who started this topic) = radha08 in this case.
for this case, TS = Thread Subject
ikan bilis
03-06-12, 11:07
thread squatter ??..
TS = thread starter ( the person who started this topic) = radha08 in this case.
Mathematically......"TS= TCSS - CS" :D:D:D
Mathematically......"TS= TCSS - CS" :D:D:D
umm... what is CS?
Bro Radha, I would suggest you test the market before making any decision. My HDB tenent called me last month to inform his decision to move out exercising diplomatic clause.
I was worried about the loss of rental income and was even wondering if I should just sell and cash-out my HDB, but guess what..got another tenent who signed up at a higher rental. :cheers1:
Life is full of possibilities...Now I thank my old tenent for the extra few $100 I am getting due to him moving out earlier.;)
yup was browsing prop guru and realised my current rental is below market rate...that MIGHT be an option...i going down next week to view my house to take some pictures....might put up and ad to test mkt...cheers:)
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