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Thread: Sell HDB or Keep?

  1. #1
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    Default Sell HDB or Keep?

    Hi,

    First post here. I usually don't pay too much attention to property so but recently I thought of purchasing a new private property. I current stay in a HDB and am wondering if I should keep my HDB and buy another private property or if I should sell the HDB for a higher budget?

    I am looking at a 1.5m property at the moment. I will be able to buy the place if I sell my HDB now, or I can wait approximately 1 year to accumulate enough for the the 1.5m unit without selling my HDB flat. However, I fear the price of private property skyrocketing if I were to wait for one year

    Anyone can throw some advise here?

  2. #2
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    Quote Originally Posted by Nestor
    Hi,

    First post here. I usually don't pay too much attention to property so but recently I thought of purchasing a new private property. I current stay in a HDB and am wondering if I should keep my HDB and buy another private property or if I should sell the HDB for a higher budget?

    I am looking at a 1.5m property at the moment. I will be able to buy the place if I sell my HDB now, or I can wait approximately 1 year to accumulate enough for the the 1.5m unit without selling my HDB flat. However, I fear the price of private property skyrocketing if I were to wait for one year

    Anyone can throw some advise here?
    reduce ur ppty budget

  3. #3
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    Same old question: own stay or investment? If investment, why buy a huge chunk of 1.5mil. I feel you should break it up and dont put all eggs in same basket. Unless its golden eggs in diamond basket sure win.

  4. #4
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    Quote Originally Posted by mcmlxxvi
    Same old question: own stay or investment? If investment, why buy a huge chunk of 1.5mil. I feel you should break it up and dont put all eggs in same basket. Unless its golden eggs in diamond basket sure win.
    tats y u have MMs all over SG

  5. #5
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    Thanks for responding... Its actually mean for investment initially and then own stay for a couple of years but the story goes like this...

    The main motivation of buying the place is to be within 1km of the school we wanted, and unfortunately, the properties around that area are around 1.2 - 1.5 with 1.2 being 99 years so I try not to go that route, and the 1.5 being freehold and near to future MRT

    The thing is I can afford the 1.5 place now if I sell my HDB.. but that will mean it's for own stay in that case... I will however prefer to keep my HDB and buy one for investment for first a couple of years.. then move in later to register for school

    So I can either sell hdb and buy now, hold hdb and buy a 99year condo, or wait 1 year and I will be able to afford to hold the hdb and buy the 1.5 unit I wanted...

    Unfortunately... if the property goes above 1.5 (1.6-1.7) it might be too much for me to take. At the same time, it is very important to me to own a place there given that I wanted to be within 1km of that school...

    any advise? I'm stupid when it comes to property and investment sorry in advance if the answer is obvious

  6. #6
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    Dude, nowadays with our increase in population density, people even need to ballot despite slaving for the school as parent volunteer. So w/i 1 km is no guarantee of a place especially in popular schools. You can check the recent and historical balloting history at kiasuparents.com. Maybe that may sway your decision a little.

  7. #7
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    Quote Originally Posted by med80009
    Dude, nowadays with our increase in population density, people even need to ballot despite slaving for the school as parent volunteer. So w/i 1 km is no guarantee of a place especially in popular schools. You can check the recent and historical balloting history at kiasuparents.com. Maybe that may sway your decision a little.
    Yup I'm aware of that already... which is why I'm quite cautious about selecting a property which has investment value at the same time. So if the school thing doesn't work out, at least I can get some returns from the property through invesment... even though I know it's not the best thing to do as far as investment is concern, it will meet my needs for this purpose...

    so the question is... is it wise to keep HDB in the first place? or there's no point in keeping HDB despite the new policy?

  8. #8
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    Personally, I am all for retaining the HDB flat. I will never give up my own HDB apartment. Very hard to buy back if I let it go, especially with so many (new) restrictions on buying and owning HDB apts.

    More than 80% of Singapore's population live in HDB flats, with 95% of them owning their HDB flat and the government has to take care of them. Even though it is only 99LH,there is intrinsic value in HDB.

    Think carefully of all possible future scenarios - future economic conditions, job stability, alternate schools, interest rates, etc. before you make a concrete decision.

  9. #9
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    Quote Originally Posted by Nestor
    Yup I'm aware of that already... which is why I'm quite cautious about selecting a property which has investment value at the same time. So if the school thing doesn't work out, at least I can get some returns from the property through invesment... even though I know it's not the best thing to do as far as investment is concern, it will meet my needs for this purpose...

    so the question is... is it wise to keep HDB in the first place? or there's no point in keeping HDB despite the new policy?
    is ur HDB near any MRT(within 500m)? if yes, pls dun sell

    there r many gd schools....not necessary die die must get ppty near tat particular sch rite? stretching ur budget till max max and slaving to pay ur housing loan in future is a no-no ....get cheaper mass market condo ard 1mil or less and keep ur HDB for rental(HDB rental is very gd provided ur flat near MRT)....at the same time u will hf spare cash to get the best tutor for ur kids

  10. #10
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    Garment has already relax the rental rule of HDB to enable them to make some money. People residing in HDB always get more ang pao money from Ah Kong. Recently, my children get even less edusave top up as it is pegged to NAV of home of residence. Hence, it is good to keep the HDB flat.

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