First-Timer Buying Attitude Index - Q1 2014

[richwang]

Assuming you are a first-time buyer for Singapore condominium, is it a good time to buy?

[richwang]

For general Singapore residential buying attitude index, you can visit the thread:
http://forums.condosingapore.com/showthread.php?t=19896

...or, simply type in "buying attitude index" in www.google.com.sg,
it is among the top search results. Thanks a lot for voting.

[richwang]

How does it work?
Everyone is entitled for one vote, the index is calculated by
the percentage of bulls - percentage of bears
(Please vote even if you are neutral because it will change the overall percentage scores).

Pls note the "First-Timer Buying Attitude Index" is just for time-timers. This could be a leading index to show the effect of the eventual removal of ABSD.

[EBD]

Kind of hard to answer.

Most here are not first time buyers so will definately have a different outlook from a first time buyer.

Example a first time buyer may be more easily swayed into buying by agents or be more naively optimistic in the outlook.

[oops]

Still long way to go consider the down effect just started.

[Patrickstar]

For new launches, a lot of downward pressure in months to come.

[oops]

http://sg.finance.yahoo.com/news/mas...160000265.html

This will greatly reduce the spending power of all segments..

[richwang]

Number of votes: 19
Index: 32 - 53 = -21

It is still better than the general buying attitude index which was
26 - 62 = -36
(42 votes)

Thanks for all those who have voted, and welcome for more votes.
The index will run in Feb, May, Aug and Nov if we have enough votes.

[richwang]

Pls note the "First-Timer Buying Attitude Index" is just for time-timers. This could be a leading index to show the effect of the eventual removal of ABSD.

Pls note the "First-Timer Buying Attitude Index" is for time-timers ... or assuming you are a first-timer. This could be a leading index to show the effect of the eventual removal of ABSD.

[Arcachon]

http://www.youtube.com/watch?v=jqvKjsIxT_8

Long long time ago, my father say never go into debt and I ask why and he got no answer. As the years past, I was educated to work for money and pay off my debt. In 2010 with the internet I start to understand a little bit what is debt and what is money and life have never been the same again.

[star]

http://www.youtube.com/watch?v=jqvKjsIxT_8

Long long time ago, my father say never go into debt and I ask why and he got no answer. As the years past, I was educated to work for money and pay off my debt. In 2010 with the internet I start to understand a little bit what is debt and what is money and life have never been the same again.

Yes very true.

[princess_morbucks]

Scenario 1 : (YES)

If I am a first time buyer and only qualify to buy a condo and can afford to buy one and need a place to stay now, I will buy a condo now, ie I won't rent in hope that the price will come down.


Scenario2 : (Neutral)

I own a HDB and is considering upgrading- I might just wait for a while before deciding.


Scenario 3 : (NO)

I own a HDB and is looking for a condo as an investment - I won't consider buying but will watch the trend.

[Arcachon]

If you can afford, anytime is a good time to buy.

1988 can only afford SGD 83,000 (4 room HDB) with no minimum CPF.

1995 can only afford SGD 250,000 (5 room HDB)

2006 can only afford SGD 535,000 (2 Bedroom PC)

2011 can only afford SGD 1,350,000 (3 Bedroom PC)

Moral of the story buy within your mean, eat the two little cherry the government give you and let others pay the mortgage for you.

[Allthepies]

especially for first timers, all the environmental factors are in your favours, if u dont buy now then when? : )

[Royston8H]

Being the first timer, you will need to decide to go for private or hdb. This is a tough decision though. If you go for private now, you may stuck at the peak for some time before it can be over. If you go for hdb, you are stuck for the next 5 yrs due to MOP.

Not that straightforward especially at this time.

[richwang]

Number of votes: 35
Index: 37 - 46 = -9

[Allthepies]

Being the first timer, you will need to decide to go for private or hdb. This is a tough decision though. If you go for private now, you may stuck at the peak for some time before it can be over. If you go for hdb, you are stuck for the next 5 yrs due to MOP.

Not that straightforward especially at this time.

if you think this is the peak and wait, you may wait for another 10years before the real peak arrive. there is no way to time the market successfully; it will only look very easy on hindsight

good luck first timers

[oops]

Patient is the key.. 20% drop is very likely with all the measure in buyers favour.

[teddybear]

Wait till 2020 may be? But by then, the price would have already gone up by another 30+% already?!

Patient is the key.. 20% drop is very likely with all the measure in buyers favour.

[DC33_2008]

20% drop by when?

Patient is the key.. 20% drop is very likely with all the measure in buyers favour.

[penguin]

Honestly, as much as I wish for prices to drop so I can buy another ppty at a cheap price, I really doubt it. I have many friends waiting on the sideline since early 2013 wanting to invest in another ppty. Some have bought, some not yet, and one friend just sold his place and going to rent for 1yr. All are cash-rich (after cash profits from selling ppty earlier) and ready to jump in anytime once price is right. So in a way, its all about the patience to take pressure. But one thing I noted. All are not looking at new launches, but resale. What do you guys think?

[DC33_2008]

Unfortunately, the cash sitting in the bank is depreciating in value unless put into high yielding investment tool. But what is when the price is Right? 10% drop..20% drop from current level?

Honestly, as much as I wish for prices to drop so I can buy another ppty at a cheap price, I really doubt it. I have many friends waiting on the sideline since early 2013 wanting to invest in another ppty. Some have bought, some not yet, and one friend just sold his place and going to rent for 1yr. All are cash-rich (after cash profits from selling ppty earlier) and ready to jump in anytime once price is right. So in a way, its all about the patience to take pressure. But one thing I noted. All are not looking at new launches, but resale. What do you guys think?

[eng81157]

Honestly, as much as I wish for prices to drop so I can buy another ppty at a cheap price, I really doubt it. I have many friends waiting on the sideline since early 2013 wanting to invest in another ppty. Some have bought, some not yet, and one friend just sold his place and going to rent for 1yr. All are cash-rich (after cash profits from selling ppty earlier) and ready to jump in anytime once price is right. So in a way, its all about the patience to take pressure. But one thing I noted. All are not looking at new launches, but resale. What do you guys think?

the guy who is renting won't want to wait for new launches probably. to add on to bro DC's comment, we don't have 20/20 foresight unfortunately. hence, no one, except Ringo the Moron, will be able to tell for sure that investment sure huat.

there are some who wait and miss the boat, while some wait and tio right timing.

[star]

First time buyers should just buy. It's a no brainer.

[Singleton]

Take Home Message we learnt from many gurus in this forum

For first time buyer, buy if one can afford and one needs a place.
There is no Best Time.

For investors who want to keep ppty, buy if one can afford esp when an excellent place with a good price is available.
Timing will be a judgement call because no one can really predict.

Imagine someone who has been waiting for the Best Time since 2009.
Prices had gone up by 40%. So does one wait for prices to drop 5%, 10% or 20% or 40% before buying right now?

No one knows, too many scenarios.
Even if one goes in after 10% correction, one will still be buying at 30% more than 2009. Market on the other hand could correct 5% and then go up by another 10% later.

So if think too much, when the Ripe Time finally comes may be the time when banks cannot provide one with a loan anymore.

[thomastansb]

For first time buyer, buy a HDB.

Take Home Message we learnt from many gurus in this forum

For first time buyer, buy if one can afford and one needs a place.
There is no Best Time.

For investors who want to keep ppty, buy if one can afford esp when an excellent place with a good price is available.
Timing will be a judgement call because no one can really predict.

Imagine someone who has been waiting for the Best Time since 2009.
Prices had gone up by 40%. So does one wait for prices to drop 5%, 10% or 20% or 40% before buying right now?

No one knows, too many scenarios.
Even if one goes in after 10% correction, one will still be buying at 30% more than 2009. Market on the other hand could correct 5% and then go up by another 10% later.

So if think too much, when the Ripe Time finally comes may be the time when banks cannot provide one with a loan anymore.

[DC33_2008]

This is what I will tell me children too.

For first time buyer, buy a HDB.

[chiaberry]

So if think too much, when the Ripe Time finally comes may be the time when banks cannot provide one with a loan anymore.

Wait and the banks may further tighten their lending rules. Putting that home even further out of reach.

[chestnut]

This is what I will tell me children too.

bro, during bad time, kid should buy private.... (more upside)

during good time, kid should buy hdb.... (minimize downside)

assumption - minimal cash available at time of purchase....

[Simi]

bro, during bad time, kid should buy private.... (more upside)

during good time, kid should buy hdb.... (minimize downside)

assumption - minimal cash available at time of purchase....

you damn good man

why hasn't I thought of this before