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Thread: Choose not to choose... Advise

  1. #1
    Join Date
    Jan 2013
    Posts
    1

    Default Choose not to choose... Advise

    1st time posting here.

    I m a PR in my 30 s married to Singaporean.
    With Singaporean kids. Aprox 10 yrs here.
    Considering becoming citizen , but I will not want the reason to be property. Anyway i trust my wife enough to put property under her name to avoid extra ABSD.

    I owe no property & have no debts.
    My life is frugal.

    I m risk averse. I don t like loans.
    But a reasonable one ( 10-15 yrs ) i will consider.

    Combine salary is average , but savings in cash are able to pay 2/3 Bedroom Private Property almost in full ( resale market) in a central location.

    Few questions to wise forumers:

    A. Which is your view for RESALE price D09.D10.D11 for Private property.
    For the next few months , and after 2016GE?

    B. Which is your view on CLUSTER housing ( Leasehold) in good location.

    C. Which is your view on rental market for 3-4 Bedder apartment in Bukit timah area.
    After The Leedon will be TOP? As far as i understand there is a huge supply of newly condos along Bukit Timah Road. And most of them bought by investors. I believe the rental price in that area will drop.

    I have few options:

    A) Wait & see. Keep renting as i m doing now.
    B) Buy big unit , paying 50% cash. And rent it out. Until is fully repaid in 10yrs. So later i move in. ( meanwile i keep renting a smaller unit )
    C) Buy normal sized unit, fully paid cash. Where i can live loan free , worry free.


    Few comments :

    1. I feel comfortable renting. I know many consider it to "throw money away".But i feel is worry-less , and give you flexibility.

    2.I know many feel property in Sg can t crash , due to foreign labour , space restrictions , the Asia role in this century etc etc. I tend to agree with it.
    But I believe it can t be ruled out a down price of 10% or more.
    For a 2mill property that will mean at least a discount of 200k Sgd.
    That s a lot of money.

    That means with a price correction of only 10% ( in 4 yrs ) you can rent out a 3 BD in central location for 4/5 yrs. And still sit on cash waiting for oportunity.

    3. I will not consider HDB. As many say in various forums is for "true Singaporeans" that obviously is not my case.

    4. As everyone i prefer FH , but I m open to 99Yrs ( ONLY if Cluster housing).

    5. Only Bukit Timah / Holland Village / Balmoral area i will consider.
    Main reason is proximity to Ochard & "still"the green feeling in some areas ( Watten , Binjai , Old Holland road...)


    I m not extreme person. My target in life is not trying to become rich , or slave to 30yrs loan.


    I m happy i m able to choose. But sometimes doing nothing when investing is the hardest part. Choose not to choose???..... those are my thoughts now.

    I take this chance to congratulate forummers.
    I feel most of views ( even contrary ones ) are founded and generally to say people dont get insulting or personal.

  2. #2
    Join Date
    Jan 2013
    Posts
    500

    Default

    My advise is resales HDB... This will be the best opinion for you I feel...

  3. #3
    Join Date
    Feb 2011
    Posts
    8,926

    Default

    Once upon a time our top echelon said 1m is a peanut

    So 200k is 1/5 of a peanut as per top echelon standard
    Ride at your own risk !!!

  4. #4
    Join Date
    Apr 2012
    Posts
    1,295

    Default

    ya i think resale hdb is the best choice since you dont mind renting and give me a feeling that one day u will return to your country...i dont understand why u would like to be a tenant instead of landlord and furthermore without a need to take loan.

    your renting behavior and your like for cluster makes me believe that you are not asian... more of a angmo...

    no offence...

  5. #5
    Join Date
    Dec 2008
    Posts
    1,378

    Default

    Quote Originally Posted by lajia
    ya i think resale hdb is the best choice since you dont mind renting and give me a feeling that one day u will return to your country...i dont understand why u would like to be a tenant instead of landlord and furthermore without a need to take loan.

    your renting behavior and your like for cluster makes me believe that you are not asian... more of a angmo...

    no offence...
    EUR. So most likely from Europe.

    My brother-in-law also from Europe. Work in Asia for a few yrs and rented apartments - that's ok.
    But after return to own country, still renting for last 4 yrs & don't intent to buy.

    It's a culture thing I think.

  6. #6
    Join Date
    Oct 2012
    Posts
    460

    Default

    I believe you are competent enough to make your own decision and allow the forummers to influence any thoughts.

    Renting is not such a bad thing anyway
    When you have eliminate the impossible, whatever remains, however improbable, must be the truth

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