How to convince the wife?

[kt2u]

Case 1: Missed
Year 2005; Caribbean 2BR @ 750K. Year 2013; Caribbean 2BR @ 1.5 mil

Case 2: Missed
Year 2006; Metropolitan 2BR @ 600K. Year 2013; Metropolitan 2BR @ 1.5 mil

Case 3: Missed
Year 2008; Queens 3BR @ 1.2 mil. Year 2013; Queens 3BR @ 1.7 mil

Case 4: Made
Year 2008; Urban loft 2BR @ 750K. Year 2010; sold @ 1 mil. Year 2013; Urban loft 2BR @ 1.18 mil

Case 5: Missed
Year 2010; Northvale 3BR @ 750K. Year 2013; Northvale 3BR @ 1.25 mil

Case 6: Missed
Year 2010; Villa Verde Terrace @ 1.3 mil; Year 2013; Villa Verde Terrace @ 1.8 mil

Case 7:?
Year 2013; River Valley 3BRCondo @ 1.9 mil or Queens @ 1.7 mil?

Just 6 examples where I made the right pick but missed the boat either because I didn't have the capital for down payment or wife vetoed the decision. Even the Urban Loft apartment we sold I actually wanted to hold but sold because wife found it a hassle to rent out. How can I convince my wife that I'm actually good in spotting good buys? She's bent on a unit at Queens now, because it's walking distance to my daughter's school, but I feel silly paying almost 1500psf for a D03 10 year old leasehold condo when a D09 almost new freehold condo can be had for 1600+psf. Her reasoning? We don't go shopping so often anyway and there are no good schools nearby. My answer: we can always drive. But my answer is not good enough. Will we miss the boat again?

[evergreen]

Sounds like she's the boss of you - so how would you try to convince your boss at work? You have to build strong a case. Bringing up past "misses" won't help. Do a full fledged "business plan" complete with all the potential financial+intangible benefits+opportunity cost+risks. E.g. the time taken to drive to school involves opportunity cost and possibility of significantly higher cost of car ownership may mean you might not be able to afford to upkeep your car. Your wife seems to place a higher emphasis on the intangibles. Try to quantify these as much as possible. You may even convince yourself that your plan isn't as good as what you thought it was...

[phantom_opera]

the answer is of course buy MM/1br as investment properties just like me bro mcm will be glad to flip his MMs to u too

your wife is not wrong, it is the balance between quality of life vs investment opportunity

so buy a 2br Queens + Top Echelon

[solsys]

Simple, act on your own.

[august]

Hind sight is always 20/20.

[kt2u]

Simple, act on your own.

I wished I could...

[kt2u]

the answer is of course buy MM/1br as investment properties just like me bro mcm will be glad to flip his MMs to u too

your wife is not wrong, it is the balance between quality of life vs investment opportunity

so buy a 2br Queens + Top Echelon

Looked at MMs but priority now is to upgrade from our HDB and use the rental income there to cover the mortgage. So only looking at 3 BRs and above...

[stiook]

I know how you feel bro... I had the same. Till today, my wife still think that she will not ever want to stay in the FH unit I spotted... so here I am in a LH unit and thinking when I need to sell since it is already 12 yr old.

[Laguna]

The worst is to blame the wife that you had missed the boat as you had had made a superb call. It was your wife made u MTB.

I moved my wife over 4 months, every weekend to see one unit at Meyer Road, till she gave up on me. Then we bot.

After that, there was no further problem in buying.

[august]

I wished I could...

change wife?

just joking.

[newbie11]

the answer is of course buy MM/1br as investment properties just like me bro mcm will be glad to flip his MMs to u too

your wife is not wrong, it is the balance between quality of life vs investment opportunity

so buy a 2br Queens + Top Echelon

I never buy a MM before. Looking for one now.. How about La fiesta? Cheap and "safe"? For Passive income..

[kt2u]

The worst is to blame the wife that you had missed the boat as you had had made a superb call. It was your wife made u MTB.

I moved my wife over 4 months, every weekend to see one unit at Meyer Road, till she gave up on me. Then we bot.

After that, there was no further problem in buying.

Not trying to pin the blame on wife lar. If I was really so smart I would have insisted, but the fact was that I'm unsure also which way market would go. The question now is to pick between the D03 leasehold and D09 freehold (or end up not picking at all, which might not be a bad thing if the market goes south?).

Inclined to buy though as it's for own stay, and would like a better quality of life for the family. So not entirely a rational decision and definitely have to consider the intangibles. But still I think given the current prices freehold is a better deal and less risky when the market turns. Thoughts?

[Rein]

Not trying to pin the blame on wife lar. If I was really so smart I would have insisted, but the fact was that I'm unsure also which way market would go. The question now is to pick between the D03 leasehold and D09 freehold (or end up not picking at all, which might not be a bad thing if the market goes south?).

Inclined to buy though as it's for own stay, and would like a better quality of life for the family. So not entirely a rational decision and definitely have to consider the intangibles. But still I think given the current prices freehold is a better deal and less risky when the market turns. Thoughts?

why not stay in the HDB and rent out the condo? Then your investment decision would be simple - FH

unless you can afford to buy 2 condos, then can stay in one and rent the other

if you sub-let your HDB flat, you never know if HDB may change its rules?

[proud owner]

I have successfully got into 2 projects n got en bloc-ed .

But missed 2 enbloc becos my wife didn't like those 2.


Buy what you feel makes you happy , after all it's for own stay..

Let the money making opportunities come to you
Don't chase after it.

Cos if it's a wrong decision, you will find someone to blame.



QUOTE=kt2u]Case 1: Missed
Year 2005; Caribbean 2BR @ 750K. Year 2013; Caribbean 2BR @ 1.5 mil

Case 2: Missed
Year 2006; Metropolitan 2BR @ 600K. Year 2013; Metropolitan 2BR @ 1.5 mil

Case 3: Missed
Year 2008; Queens 3BR @ 1.2 mil. Year 2013; Queens 3BR @ 1.7 mil

Case 4: Made
Year 2008; Urban loft 2BR @ 750K. Year 2010; sold @ 1 mil. Year 2013; Urban loft 2BR @ 1.18 mil

Case 5: Missed
Year 2010; Northvale 3BR @ 750K. Year 2013; Northvale 3BR @ 1.25 mil

Case 6: Missed
Year 2010; Villa Verde Terrace @ 1.3 mil; Year 2013; Villa Verde Terrace @ 1.8 mil

Case 7:?
Year 2013; River Valley 3BRCondo @ 1.9 mil or Queens @ 1.7 mil?

Just 6 examples where I made the right pick but missed the boat either because I didn't have the capital for down payment or wife vetoed the decision. Even the Urban Loft apartment we sold I actually wanted to hold but sold because wife found it a hassle to rent out. How can I convince my wife that I'm actually good in spotting good buys? She's bent on a unit at Queens now, because it's walking distance to my daughter's school, but I feel silly paying almost 1500psf for a D03 10 year old leasehold condo when a D09 almost new freehold condo can be had for 1600+psf. Her reasoning? We don't go shopping so often anyway and there are no good schools nearby. My answer: we can always drive. But my answer is not good enough. Will we miss the boat again?[/QUOTE]

[ysyap]

Problem is if you insist on River Valley and reject her choice, and if prices climb more for the latter, you'll get it non stop from her. Anyway, bigger question is if this is for own stay or investment? If own stay since your daughter's school is nearby, then choose one which will bring peace to the family instead of mere investment potential. Cheers!

[Komo]

it's just like buying stock in a bull market. close eyes pick any also win and think you are the king of stocks those missed cases will not help. let's focus on quality of life to decide what to buy

[stiook]

Problem is if you insist on River Valley and reject her choice, and if prices climb more for the latter, you'll get it non stop from her. Anyway, bigger question is if this is for own stay or investment? If own stay since your daughter's school is nearby, then choose one which will bring peace to the family instead of mere investment potential. Cheers!

True... and that is why I ended up in a LH. But the intangible is different... both are near school.... boils down to the state of development, pool size etc.

I dont blame her... I blame my lack of persuasion.

[phantom_opera]

Looked at MMs but priority now is to upgrade from our HDB and use the rental income there to cover the mortgage. So only looking at 3 BRs and above...

that is where most families end up buying near the peak holding hot potatoes...you should only do this when market is near bottom, not where market is near peak ..if you have cash flow problem without the HDB rental that means you are over-extending yourself

[kane]

I agree with Laguna, take her to shopping. 2 things will come out of it. 1 is she will know what she likes and what she doesn't like. 2 is she will know how hard it is to come across a good deal.

[buttercarp]

Recommend your wife to condosingapore forum and she will wake up from her dream, hopefully!

[leesg123]

Case 1: Missed
Year 2005; Caribbean 2BR @ 750K. Year 2013; Caribbean 2BR @ 1.5 mil

Case 2: Missed
Year 2006; Metropolitan 2BR @ 600K. Year 2013; Metropolitan 2BR @ 1.5 mil

Case 3: Missed
Year 2008; Queens 3BR @ 1.2 mil. Year 2013; Queens 3BR @ 1.7 mil

Case 4: Made
Year 2008; Urban loft 2BR @ 750K. Year 2010; sold @ 1 mil. Year 2013; Urban loft 2BR @ 1.18 mil

Case 5: Missed
Year 2010; Northvale 3BR @ 750K. Year 2013; Northvale 3BR @ 1.25 mil

Case 6: Missed
Year 2010; Villa Verde Terrace @ 1.3 mil; Year 2013; Villa Verde Terrace @ 1.8 mil

Case 7:?
Year 2013; River Valley 3BRCondo @ 1.9 mil or Queens @ 1.7 mil?

Just 6 examples where I made the right pick but missed the boat either because I didn't have the capital for down payment or wife vetoed the decision. Even the Urban Loft apartment we sold I actually wanted to hold but sold because wife found it a hassle to rent out. How can I convince my wife that I'm actually good in spotting good buys? She's bent on a unit at Queens now, because it's walking distance to my daughter's school, but I feel silly paying almost 1500psf for a D03 10 year old leasehold condo when a D09 almost new freehold condo can be had for 1600+psf. Her reasoning? We don't go shopping so often anyway and there are no good schools nearby. My answer: we can always drive. But my answer is not good enough. Will we miss the boat again?

There is this saying: when stock market chiong, every punter will think that they are warren buffet.

Likewise it has been bull run for property, most of anything one pick will also go up in price. So dont let tat false sense of "property guru" get too much into u.

[Shanhz]

that is where most families end up buying near the peak holding hot potatoes...you should only do this when market is near bottom, not where market is near peak ..if you have cash flow problem without the HDB rental that means you are over-extending yourself

very sound advice.

[roly8]

1. you must mentally prepared for the worst (if it happened)
2. have sufficient cash buffer to tie through the storm

[kt2u]

There is this saying: when stock market chiong, every punter will think that they are warren buffet.

Likewise it has been bull run for property, most of anything one pick will also go up in price. So dont let tat false sense of "property guru" get too much into u.

No lar, the intent of my post is not to "How-lian" that I'm a guru. Far from it, otherwise I would have spotted other better buys like Rivergate, South Bank, Alexis etc. from an investment point-of-view! But to be fair, I try to do the due diligence by checking area potential, transaction records etc. even before viewing the properties. Most of the time I know more than the agent about details of the development

Thus my point to my fellow forummers is, from an own-stay point-of-view, would a D09 2-year-old condo be better than a D03 10-year-old leasehold, given the psf is less than 10% difference? I know there have been some advices about not looking at it from an investment perspective since it's for own-stay, but the truth is at today's high prices, the only prudent thing aside from not buying is to buy something that would hold its value better.

I actually like the idea of assigning values to the intangibles, so as to think about the decision more systematically. Bringing her to see properties is already a regular affair (in fact I feel bad for wasting the agents' time).

I guess I could also wait and buy later when the prices come down (if ever!). But time and tide waits for no man...

[stl67]

[quote=proud owner]I have successfully got into 2 projects n got en bloc-ed .

proud owner, next time when you are buying share with us ok. better still, if share with me only and got en bloc, I give 5% ang pow

[stl67]

I agree with Laguna, take her to shopping. 2 things will come out of it. 1 is she will know what she likes and what she doesn't like. 2 is she will know how hard it is to come across a good deal.

i try to discourage my wife from investing in condo but on landed. So i brought her to all the expensive showroom and calculate the yield to her versus what I can do for Landed, after that she tiam tiam and leave me alone.

[chiaberry]

Mr kt2u

You are very thorough and spent a lot of time analysing and considering. Trouble if you analyse and analyse, every option will have pros and cons and you will not end up buying at all.

My spouse tends to buy without asking me. Once 20 years ago, I sent him to the supermarket for some supplies, he saw people queuing up for apartments, he joined the queue and he bought a unit (2nd last unit). You can imagine that I was not pleased with that. But 20 years later, we are still holding on to the unit and it gives us a good rental income.

That is not the last time he does that to me. In 1997, he also joined a Q and bought the last unit in the devt. Actually it was a unit that was returned by another buyer as it was sold out by the time it reached his turn in the Q. We are also still holding on to that unit now.

[phantom_opera]

it is not difficult to compare say D9 freehold vs DX leasehold top Echelon which one seems more value for money... it will be another story on the timing and risk mgmt

property is big ticket item and not liquid, timing and risk mgmt are all the more critical to success

[hopeful]

.......

My spouse tends to buy without asking me. Once 20 years ago, I sent him to the supermarket for some supplies, he saw people queuing up for apartments, he joined the queue and he bought a unit (2nd last unit). You can imagine that I was not pleased with that. But 20 years later, we are still holding on to the unit and it gives us a good rental income.
.......

wah, 20 years ago an apartment cost the same as some supermarket supplies?
or your spouse bring cheque book wherever he/she goes?

[chiaberry]

wah, 20 years ago an apartment cost the same as some supermarket supplies?
or your spouse bring cheque book wherever he/she goes?

Good point. I can't remember how he paid the deposit. LOL ! Too long ago.