Sell HDB or Keep?

[ocoloco79]

u shdnt reduce ur loan with ur HOT HOT CASH....especially now the interest rate so so low

i din mention about mortgage packages like stanchart mortgage 1 sibor meh?

however, if u r retired and more den perhaps 50yo, den pls go ahead and fully redemn ur 'primary residence' mortgage loan and leave the younger ones to fry ppty....u shd be sitting back relax and watching the show oredi

I haven't reduce lah, still contemplating, but most likely will reduce cos in short term, dun think we wanna invest so soon esp with 80% debt out there. Can save up again mah But your words make me itchy to hold again You can never understand the feeling of an 80% of debt loan out there..cos you dun borrow 80%. very stressed one leh..

[devilplate]

I haven't reduce lah, still contemplating, but most likely will reduce cos in short term, dun think we wanna invest so soon esp with 80% debt out there. Can save up again mah But your words make me itchy to hold again You can never understand the feeling of an 80% of debt loan out there..cos you dun borrow 80%. very stressed one leh..

ISNT it worse off for u to reduce ur loan and ended up with no spare cash?? imagine u r retrenched etc or u nid emergency cash to tide smthing over...medical fees etc etc...

I ALWAYS FEEL SAFER WITH SPARE HOT CASH ON HAND

[ocoloco79]

ISNT it worse off for u to reduce ur loan and ended up with no spare cash?? imagine u r retrenched etc or u nid emergency cash to tide smthing over...medical fees etc etc...

I ALWAYS FEEL SAFER WITH SPARE HOT CASH ON HAND

chances of retrenchment is low(touchwood). Both our civil service job (Ministry) always in high demand.. *Pray*

[gfoo]

chances of retrenchment is low(touchwood). Both our civil service job (Ministry) always in high demand.. *Pray*

then as long as PAP in power, you are safe to leverage away.

all others, please have 2 years income in cash and perhaps half that in precious metals before over leveraging

[devilplate]

then as long as PAP in power, you are safe to leverage away.

all others, please have 2 years income in cash and perhaps half that in precious metals before over leveraging

keep canadian gold coins enuff....in case currency become toilet paper still can use gold coin to barter trade

still waiting for gold spot price to retrace leh....now i scare scare to buy more gold coins wor

[Nestor]

Am I right to say that HDB prices might go down by quite a bit going forward?

[devilplate]

Am I right to say that HDB prices might go down by quite a bit going forward?

i believe at most 20%.

duno if 20% meant alot to u

[amk]

... realised that it will take me about 25 years to accumulate the same profit if I were to sell off my hdb now....

Nestor did you read this line ? very accurate description of your situation.

HDB price depends heavily on gov policies. U never know what will happen after the GE.

sell the HDB and get the cash/cpf standby for opportunities.

btw for 1km purpose why only levelz ? there are plenty of small apartments at the other shelford side. all freehold some more. a few of them are even brand new, just TOPed

[rattydrama]

citibank also has it. 70% pledge

its not about the rate,...their rates nvr the best....

read their website lor....this package is for those who have spare cash and duno wat to do with it at the moment(waiting for opportunity )

http://www.standardchartered.com.sg/...eone-sibor/en/

[rattydrama]

not if those who are comtemplating to sell and read this forum.

anyway if you want to sell, may well sell now cos valuation may drop soon. If you cannot decide now and only 6 months later, I suspect you could suffer a 50k difference. So is either now or many years ahead.

Good luck..

Am I right to say that HDB prices might go down by quite a bit going forward?

[devilplate]

citibank also has it. 70% pledge

uob aso hf

wat u mean by pledge?? i nvr pledge anything b4 wor

[devilplate]

not if those who are comtemplating to sell and read this forum.

anyway if you want to sell, may well sell now cos valuation may drop soon. If you cannot decide now and only 6 months later, I suspect you could suffer a 50k difference. So is either now or many years ahead.

Good luck..

care to explain y valuation will drop???

only COV is dropping....

my understanding: HDB valuation will only drop when ppl start to sell below valuation which i dun tink any govt cooling measures will trigger it...only jialatX3 crisis and unemployment rate rise to 5%++

[luckybear]

I have a friend who happily rented out his exeutive flat to 2 china students for $2k/mth.Unknown to him that is the start of his nightmare.

Barely a mth later,these 2 tenants sub-tenanted d flat to 6 of their course mates charging $500 each knowing HDB allows max 8 persons in 1 unit.So they collected $3000 every mth & pay my friend $2k.Each of them stay free n still hv $500 pocket money every mth. They have become landlord themselves without owning it.

That's not all,first they dont maintain the house,they cook but never cleans up,dont mops flr,toilets not washed.So my friend counter react by getting a part time maid n get them to pay thinking that it will solve the problem but they r smarter.Knowing that they are paying they mess even more. They wear shoes in the house,bring girlfriends back,imaging 16 peoples messing up.It was so bad that the maid quit after 1 mth.

Now my friend is thinking of selling d flat but he's locked up with a 2 yrs tenancy.He's using d $2K rental to cover his $1950 hdb loan while his mthly cpf contribution is use to pay his current condo.

He regretted renting out n should hv just sold it half yr ago when prices peaked,now he's burdened with 2 mortages n pray hard that interest rates wont increase so soon.

That's the profile of a typical hdb tenant.Pte condo gets better quality tenants.

[rattydrama]

against your housing loan. not sure if I use the correct english. wor... sorry!

uob aso hf

wat u mean by pledge?? i nvr pledge anything b4 wor

[devilplate]

I have a friend who happily rented out his exeutive flat to 2 china students for $2k/mth.Unknown to him that is the start of his nightmare.

Barely a mth later,these 2 tenants sub-tenanted d flat to 6 of their course mates charging $500 each knowing HDB allows max 8 persons in 1 unit.So they collected $3000 every mth & pay my friend $2k.Each of them stay free n still hv $500 pocket money every mth. They have become landlord themselves without owning it.

That's not all,first they dont maintain the house,they cook but never cleans up,dont mops flr,toilets not washed.So my friend counter react by getting a part time maid n get them to pay thinking that it will solve the problem but they r smarter.Knowing that they are paying they mess even more. They wear shoes in the house,bring girlfriends back,imaging 16 peoples messing up.It was so bad that the maid quit after 1 mth.

Now my friend is thinking of selling d flat but he's locked up with a 2 yrs tenancy.He's using d $2K rental to cover his $1950 hdb loan while his mthly cpf contribution is use to pay his current condo.

He regretted renting out n should hv just sold it half yr ago when prices peaked,now he's burdened with 2 mortages n pray hard that interest rates wont increase so soon.

That's the profile of a typical hdb tenant.Pte condo gets better quality tenants.

ur fren TA nvr state 'no subletting' allowed prior to owner's consent meh???

can use tat clause to break lease wat....

i will terminate the contract straightaway and makan their 2mths deposit...and if they dunwan to move out, i call police or HDB! so simple to handle

[mcmlxxvi]

how to be as savvy as your guys.....can share?

Practice, practice, practice, timing, practice, practice, practice, guts, practice.

[mcmlxxvi]

I haven't reduce lah, still contemplating, but most likely will reduce cos in short term, dun think we wanna invest so soon esp with 80% debt out there. Can save up again mah But your words make me itchy to hold again You can never understand the feeling of an 80% of debt loan out there..cos you dun borrow 80%. very stressed one leh..

My first I borrowed 90% plus balance transfer plus credit card plus personal term loan plus . .. .. . so I know very well what 'stress' you meant.

[rattydrama]

think I explained in my other threads.

make it simple: demand drop price also drop - it is a matter of time. we shall see.

too details, scare people and kinda

care to explain y valuation will drop???

only COV is dropping....

my understanding: HDB valuation will only drop when ppl start to sell below valuation which i dun tink any govt cooling measures will trigger it...only jialatX3 crisis and unemployment rate rise to 5%++

[devilplate]

Practice, practice, practice, timing, practice, practice, practice, guts, practice.

learning curve

i ever fully paid one ppty too (parents always say: fully paid ur hse!! dun pay bank interest.....take short tenure better.....10-15yrs BEST.....35yrs ended up pay double for ur hse...haha)

[mcmlxxvi]

learning curve

i ever fully paid one ppty too (parents always say: fully paid ur hse!! dun pay bank interest.....take short tenure better.....10-15yrs BEST.....35yrs ended up pay double for ur hse...haha)

Ya la do more of it (buy borrow sell, not beg borrow steal) within the shorter period of time and practice more lah.

[devilplate]

think I explain in my other threads.

make it simple: demand drop price also grop - it is a matter of time. we shall see.

too details, scare people and kinda

u better pray HDB prices dun drop....we shd see blood first in pte ppty

see wat happens in 1st half of 2009.....lots of blood in pte ppty but u see any blood in HDB?

[rattydrama]

Practice, practice, practice, timing, practice, practice, practice, guts, practice.

last time 400K now doubled the price 800K to 1m....... how to practice it in ppty?

[rattydrama]

50k difference, dont think there is blood.

u better pray HDB prices dun drop....we shd see blood first in pte ppty

see wat happens in 1st half of 2009.....lots of blood in pte ppty but u see any blood in HDB?

[gfoo]

life is short, especially so when you have kids - they stay young only so often.

why stretch yourself with multiple properties and worry about repayments?

treat property as an expense. buy one that gives you the best possible lifestyle that you can afford comfortably, even taking into consideration a downturn or worse. of course buy one that isn't at a peak in prices.

cash in bank and a good property you stay in gives you room to breathe, and focus.

peace of mind, and family harmony far outstrips an extra $1-2k in nett rental income; fear of downturn coz you bought at peak; asset depreciation due to tenant fukwits; etc etc

(this advice applies specifically to this guy, and not to the other richie richs in this forum.)

[rattydrama]

This is how I see it as well.

life is short, especially so when you have kids - they stay young only so often.

why stretch yourself with multiple properties and worry about repayments?

treat property as an expense. buy one that gives you the best possible lifestyle that you can afford comfortably, even taking into consideration a downturn or worse. of course buy one that isn't at a peak in prices.

cash in bank and a good property you stay in gives you room to breathe, and focus.

peace of mind, and family harmony far outstrips an extra $1-2k in nett rental income; fear of downturn coz you bought at peak; asset depreciation due to tenant fukwits; etc etc

(this advice applies specifically to this guy, and not to the other richie richs in this forum.)

[kingkong1984]

Before 30 Aug, sell, after 30 Aug keep until policy change.

[teddybear]

Things move in cycles and trends will reverse. In 1997 - early 1998, private still going up but HDB drops like shit and blood everywhere! Remember somebody bought Bishan HDB at $760k, Hougang at $450k in early 1997, etc, drop drop drop till $450k and 320k respectively in late 1998!

u better pray HDB prices dun drop....we shd see blood first in pte ppty

see wat happens in 1st half of 2009.....lots of blood in pte ppty but u see any blood in HDB?

[gfoo]

i hope that happens.

then people will complain:
- why govt build so many flats?
- why govt dun bring in more foreign talent

[DC33_2008]

But this is the frustration of the middle-income group who is trying to become richer. They may have seen opportunity went pass and worry that it may not come again.

This is how I see it as well.

[jasonyap]

Ya I dunno why people rush to pay off their mortgage which is the cheapest money anyone can lend vs car vs reno vs credit card loan... I actually met Private Bankers with that conservative (yet illogical) mindset - that is, until they know me and listen to my explanation.

If they are young below 40s and working there is absolutely no reason why they should do that. As they say youth is priceless and in this case it is not just pricele$$ it is $$$ itself.

Do people really shiver with hot ca$h in hands dunno what to best make of it??? Ridiculous.

Because they don't invest in others...and extra cash will bite...

I would advice TS to keep HDB and go ahead with DC. It doesn't matter if your cash is just nice to pay off the down downpayment, because eventually your next salary will come in for your mouth and saving. (personally I tried and it works. I was afraid of bad businesses but the economy will not fail within 2-3 yrs)

HDB is for sure a treasure in SG and it's hard to buy back in future should you've sold it.

Another point is the interest rate is so LOW now than no other best time to make a purchase.

Lastly, hat off for you are a good DAD...