Sell HDB or Keep?

[gfoo]

ahahahha i am here watching ...

personally, i don't think it will happen as publicized. maybe some yishi yishi $100m here or there, nothing big.

trigger finger on shorts and gold now.

funny thing happening with interest rates and the bond market tho. If this carries on, gonna start refinancing my loans to fixed 5 years

[devilplate]

funny thing happening with interest rates and the bond market tho. If this carries on, gonna start refinancing my loans to fixed 5 years

only Maybank offers tat rite? u noe other lobangs? i dun like MB leh

[gfoo]

only Maybank offers tat rite? u noe other lobangs? i dun like MB leh

any bank also can, you just have to ask real nice.

[devilplate]

any bank also can, you just have to ask real nice.

u got pte banking r/s ar?

normads like me ask many times from my banker oredi...lol

[richwang]

Thanks. The GEP option is really a far fetch idea, not easily achievable, I'll have to fall on the rental option as a last resort. You mean your friend rented a unit but didn't stay there at all? I didn't know that is allowed from the school's perspective... But if that is the case then it's possible to rent the cheapest and smallest unit for 2 years at about 84k for 2 years with zero hope for any returns, and not stay there.

It will be the worst case scenario I think. It might be a better deal in my case to buy a unit in duchess, rent out my hdb to subsidize part of the condo and still have a little hope of capital appreciation later. If the price doesn't increase at all, it might still be worthwhile to hold it and rent out to expat and local families who's trying to do the same as me?

Well, GEP is preferred if you want to enjoy Nanyang. They have many classes for GEP. The contents taught in GEP class is simply different from normal classes. If you look at the PLSE papers, there are always a few extremely difficult questions. Those are indeed taught in GEP or The Learning Lab. To get a score of 270+/300, you need to be able to answer those questions.
If you cannot get into GEP, you will not get attention in Nanyang - unless you are Jim Roger.

Thanks,
Richard

[Nestor]

Well, GEP is preferred if you want to enjoy Nanyang. They have many classes for GEP. The contents taught in GEP class is simply different from normal classes. If you look at the PLSE papers, there are always a few extremely difficult questions. Those are indeed taught in GEP or The Learning Lab. To get a score of 270+/300, you need to be able to answer those questions.
If you cannot get into GEP, you will not get attention in Nanyang - unless you are Jim Roger.

Thanks,
Richard

Ok seems like I got something else to pay attention to. Thanks for the tip man...

[ocoloco79]

dipped in COV amount rite? its still transacting above valuation wor...how to dip in prices?

din notice any neighbourhood selling below valuation wor...which estate u stay?

Am staying in D19 hougang, after selling my flat, I kpo go stock the recent transacted prices, all very low.. at least 30K lower then what I have sold between 11 to 15 storey same block.. quite a few ppl selling flat in my block...Then I also heard from my agent telling me that lucky i sold my flat earlier cos prices dipped liao.. still in contact with him cos he wanna help me take a look out for firesales studio hee hee...

[rattydrama]

that is true in the north as well. the only exceptions are those HDB apartment bigger than 5 rooms - still can hold at this moment.

If the transaction price down, very soon the valuation price will also be down. HDBs transaction will take about 3 months to complete and the records released from HDB web is after the 2nd appointment so it is as good as 3 months late.

Am staying in D19 hougang, after selling my flat, I kpo go stock the recent transacted prices, all very low.. at least 30K lower then what I have sold between 11 to 15 storey same block.. quite a few ppl selling flat in my block...Then I also heard from my agent telling me that lucky i sold my flat earlier cos prices dipped liao.. still in contact with him cos he wanna help me take a look out for firesales studio hee hee...

[devilplate]

Am staying in D19 hougang, after selling my flat, I kpo go stock the recent transacted prices, all very low.. at least 30K lower then what I have sold between 11 to 15 storey same block.. quite a few ppl selling flat in my block...Then I also heard from my agent telling me that lucky i sold my flat earlier cos prices dipped liao.. still in contact with him cos he wanna help me take a look out for firesales studio hee hee...

so u wana reduce ur loan or buy a studio?

[ocoloco79]

so u wana reduce ur loan or buy a studio?

See which one come first, if good studio come by invest studio, if interest rate rise first then reduce loan, currently still holding hee hee.. Have to wait at least 3 years to refinance for the standard chart package

[Nestor]

See which one come first, if good studio come by invest studio, if interest rate rise first then reduce loan, currently still holding hee hee.. Have to wait at least 3 years to refinance for the standard chart package

I'm also considering the same now... use what I have and invest in studio and rent out for the next few years.. then sell it and use the proceeds of that sale to fund the real deal (the <1km Bulls@#t) when the time is up... i need a way to make my current savings grow faster than what it is today in the bank

any recommendations on which property is good for short term investment? budget at < 1 mil

[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

I am curious as something suddenly crossed my mind regarding your question. If I am really retrenched, wouldn't it be worse to have an outstanding loan of 80% every month to pay?

[amk]

dipped in COV amount rite? its still transacting above valuation wor...how to dip in prices?

1st COV will drop, after that all the valuers will play along and start giving lower valuations "based on market condition". this is how HDB price moves.

[ocoloco79]

I'm also considering the same now... use what I have and invest in studio and rent out for the next few years.. then sell it and use the proceeds of that sale to fund the real deal (the <1km Bulls@#t) when the time is up... i need a way to make my current savings grow faster than what it is today in the bank

any recommendations on which property is good for short term investment? budget at < 1 mil

Hopefully you can really flip for a fat profit within a few years.. At least have to hold 3 yrs b4 you flip, if not kanna the stamp duty..

[devilplate]

I am curious as something suddenly crossed my mind regarding your question. If I am really retrenched, wouldn't it be worse to have an outstanding loan of 80% every month to pay?

u r saying tat u intend to use ur spare cash to reduce ur loan amount(not full settlement) so still got installment to pay rite?

let say u got 200k cash on hand now....if retrenched, still can afford to pay the 50mths of 4k mthly installment....i am sure u r able to find a new job within 50mths...

but if u use up all to reduce the loan....let say installment become 2k....and wat happens if u got retrenched?

[amk]

I'm also considering the same now... use what I have and invest in studio and rent out for the next few years.. then sell it and use the proceeds of that sale to fund the real deal (the <1km Bulls@#t) when the time is up... i need a way to make my current savings grow faster than what it is today in the bank

imho u should not do that. u r assuming your next studio investment will always make money, AND u r also assuming u can buy yet the next "real" deal on time at a good price too. If you are so lucky with timing the pty market, u dun need all these already.

since DC is not ur cup of tea, u could just really sell the HDB and finance your "real deal" now. Since u r buying for staying, at least even when the market is down, it doesn't matter.

[devilplate]

1st COV will drop, after that all the valuers will play along and start giving lower valuations "based on market condition". this is how HDB price moves.

anyw, i hope prices to stay flat or drop abit for HDB so tat govt dun hf to come up with new cooling measures

den after GE, can open the PR floodgate again

[Nestor]

Hopefully you can really flip for a fat profit within a few years.. At least have to hold 3 yrs b4 you flip, if not kanna the stamp duty..

I can hold for about 4 years.. but I have to do it now... doesn't have to be fat lar.. just 100k profit will do for me.. i'm easily satisfied.. haha i have one and only one main goal ... have a place which i can comfortably afford in d10 for registration purpose.. but i need to take care of family cashflow too so that's where the investment part comes in...

[Nestor]

imho u should not do that. u r assuming your next studio investment will always make money, AND u r also assuming u can buy yet the next "real" deal on time at a good price too. If you are so lucky with timing the pty market, u dun need all these already.

since DC is not ur cup of tea, u could just really sell the HDB and finance your "real deal" now. Since u r buying for staying, at least even when the market is down, it doesn't matter.

i know what you mean.. my head is bursting for considering the options.. i haven't rule out the selling of hdb yet and its definitely a viable option..

[ocoloco79]

u r saying tat u intend to use ur spare cash to reduce ur loan amount(not full settlement) so still got installment to pay rite?

let say u got 200k cash on hand now....if retrenched, still can afford to pay the 50mths of 4k mthly installment....i am sure u r able to find a new job within 50mths...

but if u use up all to reduce the loan....let say installment become 2k....and wat happens if u got retrenched?

Ok I shall go and think real hard about it..

[ocoloco79]

I can hold for about 4 years.. but I have to do it now... doesn't have to be fat lar.. just 100k profit will do for me.. i'm easily satisfied.. haha i have one and only one main goal ... have a place which i can comfortably afford in d10 for registration purpose.. but i need to take care of family cashflow too so that's where the investment part comes in...

Wah! 100K profit wihtin 4 years is ALOT! Got such lobang I also wan, must share..

[Nestor]

Wah! 100K profit wihtin 4 years is ALOT! Got such lobang I also wan, must share..

It's a lot? I don't think so ... the properties trend I'm looking at all seems to reflect profitability of 200-400k? unless I'm not reading it correctly....

[ocoloco79]

It's a lot? I don't think so ... the properties trend I'm looking at all seems to reflect profitability of 200-400k?

I think times are different..Those who bought during 2003 -2005 and sold now should be laughing all the way to the bank, but I will assume now to be the peak. So 100K profit in 4 years is very very good returns. Maybe I am pessimistic

[DC33_2008]

It is still possible if one can find the hidden gem. However, it is rather rare now as compared to just after the lehman brother in early 2009.

[jwong71]

Wah! 100K profit wihtin 4 years is ALOT! Got such lobang I also wan, must share..

why need 4yrs to achieve 100k profits? it's going to eat into ur profits wf the maintaince fees and interest rates and minor touchup of hse.
Mine was just 3-6mths of holding and hit 100k+ profits

[gfoo]

Nestor, you have kids.
Plan for the very worst, calculate on that assumption, then act

you are now planning for a rosy picture, and that assumption is dangerous

[Nestor]

Haha gfoo is very down to earth.. I like it that you're pulling me back whenever it gets too speculative...

I discussed with my wife and we might just sell our HDB and get another property and forget about the double property thing for now... In fact we will try to arrange for a 2nd viewing for a old property at about 1.35.. and sell our place

Nestor, you have kids.
Plan for the very worst, calculate on that assumption, then act

you are now planning for a rosy picture, and that assumption is dangerous

[Douk]

I think times are different..Those who bought during 2003 -2005 and sold now should be laughing all the way to the bank, but I will assume now to be the peak. So 100K profit in 4 years is very very good returns. Maybe I am pessimistic

think 1997-1999, you will become too optimistic.

[nutzz]

my first post, learning a lot from this thread alone. Thank you guys for sharing!

Originally Posted by 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.)

I agree totally, was contemplating to sell my EC when it reached 5 years MOP this year and upgrade to a FH, explored many different scenarios. However after considering that I have a kid and planned to have a second, me and my wife decided to stay on in our "cheap" EC for now. At least can sleep in peace and have less white hair

[ocoloco79]

Nestor, you have kids.
Plan for the very worst, calculate on that assumption, then act

you are now planning for a rosy picture, and that assumption is dangerous

Can't agree more!

One expert from this forum gave me a quote which I find it very meaningful during march when i was v stressed over whether to sell my hdb.

"It is not what you lose to gain, but what you stand to lose that matters."- quoted by condorich.