Buy EC or buy private condo

[Irene_kyng]

Im in dilemma and still very green in property, need advice from experts here.

I own a 4 room HDB, fully paid at CCK. Have 2 plan options in mind:

1) Buy a private condo, rent out current HDB, move to condo for own stay
Pros: No restrictions in buying any private properties in the future, at the same time i can hold a HDB unit
Cons: What if no tenant for my current unit? And if I sell the HDB after owning a private property, I will not be able to buy any HDB again, unless i sell my private property.

2) Buy new EC at CCK (launching soon), but i would have to sell my current HDB flat.
Pros: More value for $ for EC (i guess and I hope) than private condo
Cons: Cannot buy any private condo within the first 10 years.

A question: after 10 years MOP of EC, after the EC be privatised, does the owner of the EC considered as a HDB owner or private condo owner?

Please share your views. Much appreciated.

[CCR]

buy private and keep HDB for rental...sure make money

[latour]

fully paid 4rm HDB assume it was bot sometime ago (and much cheaper), rent out and make good rental yield. Never sell it unless absolutely need to.

[phantom_opera]

Depends on how much capital appreciation over how many years if sell ... CCK if not near MRT is not so good location

[Lovelle]

2) Buy new EC at CCK (launching soon), but i would have to sell my current HDB flat.
Pros: More value for $ for EC (i guess and I hope) than private condo
Cons: Cannot buy any private condo within the first 10 years.


is it true ?

[peterng8]

hi may I know wher is your HDB location ? good location? for eg , is it near amenities or at a place where it is near bird cannot lay egg place, such as foul smell ? u know which part of CCK i mean?

U have to weigh the gain be it capital or rental.. some time it is good to sieze an opportunity , once u miss it...u cannot tell when the next time it will come...

[DaytonaSS]

since its fully paid, there is no reason to sell it. Personally i would keep the house and purchase a Private condo. i dont think there is much problem looking for tenants. The tough part is getting good tenants whom dont destroy your house.

Good luck searching for a nice condo ; )

[Irene_kyng]

my HDB is about 700m from CCK station, I would say very convenient to amenities. Wet market, Giant, clinics, CC, Southview Primary and CCK primary all are within short walking distance.
But, it's a low floor unit. Does it make any difference?

[peterng8]

hi may I know wher is your HDB location ? good location? for eg , is it near amenities or at a place where it is near bird cannot lay egg place, such as foul smell ? u know which part of CCK i mean?

U have to weigh the gain be it capital or rental.. some time it is good to sieze an opportunity , once u miss it...u cannot tell when the next time it will come...

one point to remember, policies are man made it can be withdrawn once situation warrants it...hope u buy your dreamt unit successfully..

[peterng8]

my HDB is about 700m from CCK station, I would say very convenient to amenities. Wet market, Giant, clinics, CC, Southview Primary and CCK primary all are within short walking distance.
But, it's a low floor unit. Does it make any difference?

Hmm..i see near block 253 or block 475...i guess you have already made your decision in your mind just need someone to reaffirm it for you that is all...

My friend stays in that area too Palm garden....

[phantom_opera]

No offence, 700m from CCK MRT not very exciting for people working at CBD/ Marina Bay, not even those working in JLD in the future ...30y old 3r HDB next to Bedok MRT can rent 2k+ per month because it is only 25mins to Suntec, 30 mins to CBD / 35 mins to Marina Bay by MRT via EWL/CCL ... this also explains why so many ppl willing to buy Bedok Residences @ 1.3kpsf vs Mi Casa 850psf

As I said, what is the capital appreciation if you sell (i.e. 7% annual return for 10y since you bought??), if you think by selling you can get a better located PC, then sell

Why buy condo @ CCK again

[Irene_kyng]

Hmm..i see near block 253 or block 475...i guess you have already made your decision in your mind just need someone to reaffirm it for you that is all...

My friend stays in that area too Palm garden....

Hi

It's block 285.

I planned to get a private condo and keep the HDB unit, until I saw the advertisement of the new CCK EC launch. So, I'm in dilemma now.

And If I don't buy EC now, we will hit the income ceiling very soon, then no way to buy at all in the future. I think I must have thought too much...

[Irene_kyng]

No offence, 700m from CCK MRT not very exciting for people working at CBD/ Marina Bay, not even those working in JLD in the future ...30y old 3r HDB next to Bedok MRT can rent 2k+ per month because it is only 25mins to Suntec, 30 mins to CBD / 35 mins to Marina Bay by MRT via EWL/CCL ... this also explains why so many ppl willing to buy Bedok Residences @ 1.3kpsf vs Mi Casa 850psf

As I said, what is the capital appreciation if you sell (i.e. 7% annual return for 10y since you bought??), if you think by selling you can get a better located PC, then sell

Why buy condo @ CCK again

Pardon a stupid question: How to calculate the annual return?
A very good piece of opinion: ya, why buy CCK again? Hmm..seems like it's time for me to move out from this area...Have been staying here for 9 years. Guess if anything, they are good schools nearby.

[Geylang OKT]

In the first place, your MOP should only be 5 years. I am surprised that those property agents here did not correct you on this

You buy now, you are buying at the peak of property prices. But you can also sell your hdb flat at sky high prices too. Your call

Im in dilemma and still very green in property, need advice from experts here.

I own a 4 room HDB, fully paid at CCK. Have 2 plan options in mind:

1) Buy a private condo, rent out current HDB, move to condo for own stay
Pros: No restrictions in buying any private properties in the future, at the same time i can hold a HDB unit
Cons: What if no tenant for my current unit? And if I sell the HDB after owning a private property, I will not be able to buy any HDB again, unless i sell my private property.

2) Buy new EC at CCK (launching soon), but i would have to sell my current HDB flat.
Pros: More value for $ for EC (i guess and I hope) than private condo
Cons: Cannot buy any private condo within the first 10 years.

A question: after 10 years MOP of EC, after the EC be privatised, does the owner of the EC considered as a HDB owner or private condo owner?

Please share your views. Much appreciated.

[peterng8]

Hi

It's block 285.

I planned to get a private condo and keep the HDB unit, until I saw the advertisement of the new CCK EC launch. So, I'm in dilemma now.

And If I don't buy EC now, we will hit the income ceiling very soon, then no way to buy at all in the future. I think I must have thought too much...

Hi I see that you have certain reason to continue to stay in CCK, let dwell into the pte pty in CCK, acc to what I know, There are a few of them (dont quote me as I am not agent) for eg Warren...northvale, palm garden, mi casa and the upcoming CDL touted luxury E condo...

Northvale is abit old and if you are interested, pls question the agent thouroughly on its condition and view it with your eyes open(dont ask me more )

Warren TOP 2004 developed by MCL not bad price a bit high now...

further now is palm garden not very near MRT... micasa is the latest one but according to my fenghsui si fu(let say if you believe) the buliding design is like staircase, so may not be good as staricase design is either u go up or u go down rite like luck ha ha

if u want to know mroe about yew tee Condos..we can talk about it too... have to go now..wish you get the condo u like..

[Geylang OKT]

I am also quite an expert in CCK condos although I am a geylang OKT. There are other condos near Yew Tee MRT like Regent Grove and Windermere too, and not forgetting Yew Mei Green (EC)

[mygeemeel]

If I am in this situation, i would keep HDB and buy a PC rather than an EC.

My reasons:
1. Collect rent from HDB unit.
2. Almost guaranteed (at least once in your lifetime) to have either SERS/Enbloc etc. Then i get a chance to have a higher floor unit otherwise no loss since already at low floor.

Then if i am choosing a PC. Also depends on budget. If i am buying Mass Mkt PC, then i will wait a little for prices to soften somemore or if someone wants to run road and eager to sell.

If location, schools and/or FH are criteria and if budget allows, then i will go property shopping (so many to choose from). Don't have to wait for prices to soften. If i love it so much and i can afford, i will just buy it. The good thing is interest rate is very attractive.

If i have only enough to buy an EC, that means i cannot keep my HDB under the regulation. Then i rather stay put at where i am. In my opinion 10 years is a long time.

Lastly, i feel garmen launched EC and amended the salary ceiling is to help HDB prices rise and also provide price support to Mass Mkt PC.

[peterng8]

I am also quite an expert in CCK condos although I am a geylang OKT. There are other condos near Yew Tee MRT like Regent Grove and Windermere too, and not forgetting Yew Mei Green (EC)

dont ply your trade in CCK ..one geylang is enough

[DaytonaSS]

Hi

It's block 285.

I planned to get a private condo and keep the HDB unit, until I saw the advertisement of the new CCK EC launch. So, I'm in dilemma now.

And If I don't buy EC now, we will hit the income ceiling very soon, then no way to buy at all in the future. I think I must have thought too much...

well, rent out HDB + CPF contribution can cover Condo installment then its ok. 5 year MOP is a lousy constraint.

[phantom_opera]

Pardon a stupid question: How to calculate the annual return?
A very good piece of opinion: ya, why buy CCK again? Hmm..seems like it's time for me to move out from this area...Have been staying here for 9 years. Guess if anything, they are good schools nearby.

Use this one, put the monthly savings at 0 ... adjust the rate/years until you hit your target selling price

http://www.cpf.gov.sg/cpf_info/calcu.../comp_calc.asp

[Geylang OKT]

dont ply your trade in CCK ..one geylang is enough

Hello there, Property Agent

[Geylang OKT]

If I am in this situation, i would keep HDB and buy a PC rather than an EC.

My reasons:
1. Collect rent from HDB unit.
2. Almost guaranteed (at least once in your lifetime) to have either SERS/Enbloc etc. Then i get a chance to have a higher floor unit otherwise no loss since already at low floor.

Then if i am choosing a PC. Also depends on budget. If i am buying Mass Mkt PC, then i will wait a little for prices to soften somemore or if someone wants to run road and eager to sell.

If location, schools and/or FH are criteria and if budget allows, then i will go property shopping (so many to choose from). Don't have to wait for prices to soften. If i love it so much and i can afford, i will just buy it. The good thing is interest rate is very attractive.

If i have only enough to buy an EC, that means i cannot keep my HDB under the regulation. Then i rather stay put at where i am. In my opinion 10 years is a long time.

Lastly, i feel garmen launched EC and amended the salary ceiling is to help HDB prices rise and also provide price support to Mass Mkt PC.

omg.... folks do a little homework lah.... MOP is only 5 years!!!!!

[mygeemeel]

I am also quite an expert in CCK condos although I am a geylang OKT. There are other condos near Yew Tee MRT like Regent Grove and Windermere too, and not forgetting Yew Mei Green (EC)

You should encourage him to buy Geylang. Prices there are very affordable and it look like New York's Time Square, all the neon lights etc. Somemore FH.

[Geylang OKT]

You should encourage him to buy Geylang. Prices there are very affordable and it look like New York's Time Square, all the neon lights etc. Somemore FH.

The new generation of geylang OKTs are well skooled and widely-travelled, thank you.

[phantom_opera]

for those who wanting to train your mind a bit, use rules of 72:

In finance, the rule of 72, the rule of 70 are methods for estimating an investment's doubling time. The rule number is divided by the interest percentage per period to obtain the approximate number of periods (usually years) required for doubling

e.g. if annual return is 6%, you need 72 / 6 = 12y to double your investment
if annual return is 12%, you only need 6y

[peterng8]

Hello there, Property Agent

I am so good and familiar with Sg property in the west that people called me agent(that specialised in west property n other than that specialisation, dont get me involved ) I take it as a compliment... really have to go and fetch my family for dinner...talk to you all next time when I am free....

[Geylang OKT]

I am so good and familiar with Sg property in the west that people called me agent(that specialised in west property n other than that specialisation, dont get me involved ) I take it as a compliment... really have to go and fetch my family for dinner...talk to you all next time when I am free....

Bye Bye Sir!

[Geylang OKT]

You should encourage him to buy Geylang. Prices there are very affordable and it look like New York's Time Square, all the neon lights etc. Somemore FH.

I am a specialist in that area too, for obvious reasons. My take, never ever buy MM or any apts at > $1000psf now. Many owners who have bought their units at easily just $200psf-300psf are selling out

[mygeemeel]

I am a specialist in that area too, for obvious reasons. My take, never ever buy MM or any apts at > $1000psf now. Many owners who have bought their units at easily just $200psf-300psf are selling out

I saw some small units with basement (the basement windows overlook the front porch). Looked like landed but no space for carpark. I wonder when it floods will it become indoor swimming pool.

[devilplate]

the moment u book a EC unit from developer, u cant buy PC liao....so effectively MOP become 5yrs from TOP+ average 3yrs of construction period

all these r basic knowledge a ppty investor must know de

even though i cant buy HDB, i also go read up the rules and regulation at www.hdb.gov.sg plus www.ura.gov.sg to have a better understanding of the whole Sg ppty landscape

recently also read abit on www.cea.gov.sg

spend some time going thru the abovementioned websites rather den reading doomsayer news articles

wif all these basic knowledge, u WUN get smoked by agts anymore