Junior
Which PC will you consider to sell:-
1) 20 yrs old condo
a) 1,400 sq ft
b) Suburban
c) LH
d) 3 bedrooms
e) lots of amenities but no MRT
f) North/South facing
2) 1 yr's old apartment
a) 500+ sq ft
b) city fringe
c) FH
d) 2 bedrooms
e) lot of amenities and MRT within 600m
f) West facing
Lets put aside the number of occupants in the family first.
Junior
I will consider selling the OCR condo as it is too old and get a newer one near to MRT at about 1100 sqft thereabout.
Senior
Sell the OCR if you look at all the new condos coming on stream in the next few years.
Emeritus Senior
OCR of course, lease is running low with 70+ years left (i took into account the construction time)
I am rich in debts...
mutant powerpuff
Definitely sell the old one.
So old most likely need extensive reno.
Other things like potential pipe leakage, water proofing issues are likely to appear.
Also loan problem for the future buyer as the leasehold gets shorter and shorter.
Property Newbie
sell the old one..
but how come your 500+ sq ft can hold 2 bedroom?
like too squeeze hor?
I took the road less traveled by, and that has made all the difference.” - Robert Frost quotes (American poet, 1874-1963)
Senior
Keep properties that are near epic centre.
Property Newbie
D9,D10 area is it?Originally Posted by DC33_2008
I took the road less traveled by, and that has made all the difference.” - Robert Frost quotes (American poet, 1874-1963)
Senior
Where do you think garment is pumping money into in the next 10-20 years?
Junior
what is the enbloc potential of the old one?
Junior
OCR got en bloc potential?
Property Newbie
btw, the PC is for own stay or investment?
if it is investment, keep the one near MRT
I took the road less traveled by, and that has made all the difference.” - Robert Frost quotes (American poet, 1874-1963)
Senior
Got to be near good mall, canal, mrt, etc.
Senior
question to ask
1) How old are you? (as this will affect how many years of loan you can take if you are going to buy a replacement property for your family)
2) Have you fully paid up the LH property? What is the rental yield?
Junior
wow 500 sqft can squeeze 2 bedrooms.
Junior
what I can think of is sun plaza which is about 15 years +/-.. 20 years old cannot think of any now...I am still not old enough
Senior
Selling older LH PC seems to be the way to go but need to ask what is your plan after your liquidate the cash from this sale? Buy another PC or just put cash aside? If buy another PC, price will higher for newer PC (all else being the same like size, proximity to amenities, etc) so do you have cash for that? If just put cash aside, then I'd rather keep the old PC and continue to get rental income while waiting for enbloc. If invest spare cash in other portfolios, then must consider the potential returns, is it more than the current rental yield?
Junior
can lah if layout efficient. parents + 1 kid + 1 toilet..acutally promenade @ pikalet D19 layout pretty efficient.wow 500 sqft can squeeze 2 bedrooms.
but no storage space, like hotel stay.
Bricks & Mortar
Sell the old one, unless tis old OCR got enbloc potential and already started process provided the project asking price is below S$200m, if not confirm sell this old one. Chances for enbloc is slim for project >$200m in the near term as the recent enblocs in the last 1-2 years have shown.
Senior
I will sell the MM 500sqf 2 bed room. Keep the old apt. With the possibility there are more MM there might be oversupply.
Buy a 1000sqf with the proceed and rent out the old unit. As big size units will be priced later.
Newbie
But your MM 2 bedroom PC is in Geylang, right? I would sell that a resale leasehold property near the MRT. Not necessarily city fringe.
Newbie
Sorry, I meant I would sell that MM and buy another resale leasehold properly sized property near a MRT station.
Junior
Geylang rental is good n freehold why need to sell? I believed should have cap appreciation now.
Newbie
Sell both, especially the west facing FH one first. Oversupply looming for MM.
Sell LH will get you maybe 1.15 Mil
Sell FH will get you maybe 700 to 800 K
Then you can borrow 80% again. This time, go whack a newer FH 3 bedroom 1200 sq ft and above Condo Near MRT or in D9/10 and live happily with your family.
Examples - City Square Residences
Twin Regency
Regency at Tiong Bahru
Junior
Sell both. If you have no more property loans, you can get 80% financing. With the proceeds, use it as downpayment (20%) and buy a FH/999 yr landed. Avoid LH or cluster. Use the remaining balance for reno/loan servicing.
Choices
Serangoon gardens/Braddel Heights - near Lor Chuan MRT
Jalan Pemimpin - near Bishan MRT
Thomson area - future TSL
East Coast - Future ERL
Bedok - near Bedok MRT
Kembangan area - newar Kembangan MRT
Senior
Depending on how old our friend is. If too old, getting a mortgage loan will not be an incentive coz monthly servicing amount will be very high...
Deepsea
Selling ur 1400sqft & shift to 500+sqft will compromise ur lifestyle leh. Unless u cashing out 1400sqft & reinvest another medium size unit slightly nearer to epic centre.
Property Newbie
landed is good if TS want to multi generation living together..
I took the road less traveled by, and that has made all the difference.” - Robert Frost quotes (American poet, 1874-1963)
Senior
Sounds good but can destroy family relations if not manage well. Juz like those long ago Hong Kong and Taiwanese movies based on big families under one roof n got young masters rape maids or mother in law scheming against wife, or siblings fighting over control of business or inheritance.landed is good if TS want to multi generation living together..
Newbie
Wah? Very imaginative leh
But must agree, also need to add in - what if pet cat screw the pet dog?
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