View Full Version : What would I do if I am yowetan?
ok make sure u dun skimp on the paint quality... need to get non toxic paint that's good quality as u have young children. all the best man (even though i'm still technically unconvinced you can comfortably afford a 1.3mil condo). :)
I am probably using the Nippon Matex quality paint that is good enough to support the walls. Will be using sealant if required.
Matex is priced reasonably, resilient and effective.
Yes, I have friend who is an air-con contractor. A system 4 Mitsuibishi Starmex was quoted by him at around 3000SGD inclusive of pipping and trunking etc. If I going to do or if there is really a need (Air-con too old), I will not conceal them since it is already old unit. I just have to make sure it doesn't protrudes out of nowhere.
Yes, I have recieved IP approval from SCB (My friend works there as relationship manager).
Yes, with IP approval and my manager's approval my workplace is granting me 80-90% loan amount up to 1.5 mil SGD.
with a 7k household income, i'm surprised they are willing to loan up to 1.5mil.. your mthly installments (coupled with your existing HDB loan) will be close to 5k (and i/r are expected to move up eventually) and u still need to fork out condo maintenance fees say 300. sounds squeaky tight.
gross income 9k plus net rental 2.5k. which means net disposal income of 9.7k. with 1.5m loan (not taken account of existing 450k hdb loan), more than half will go to instalment which left with less than 5k for a big family with 1 kid, 1 infant, 4 old ppl.
wow ah tan really has very big steel ball. i hear already jelly leg
with a 7k household income, i'm surprised they are willing to loan up to 1.5mil.. your mthly installments will be close to 5k (and i/r are expected to move up eventually) and u still need to fork out condo maintenance fees say 300. sounds squeaky tight.
I am spreading my loan tenure over 35 years span.
I have a disposal income of 2k+ from my parent's HDB rental.
I admit the financial flow will be tight, however I also believe we can manage it if we strictly adhere to the ground rules.
gross income 9k plus net rental 2.5k. which means net disposal income of 9.7k. with 1.5m loan (not taken account of existing 450k hdb loan), more than half will go to instalment which left with less than 5k for a big family with 1 kid, 1 infant, 4 old ppl.
wow ah tan really has very big steel ball. i hear already jelly leg
To add further to your above analysis, I do have intention of sublet my HDB flat out once I secured D10 Mt Sinai FH/999 private property.
I am looking at another 2k+ disposal income under this arrangement.
To add further to your above analysis, I do have intention of sublet my HDB flat out once I secured D10 Mt Sinai FH/999 private property.
I am looking at another 2k+ disposal income under this arrangement.
respect yr courage :cheers1:
gross income 9k plus net rental 2.5k. which means net disposal income of 9.7k. with 1.5m loan (not taken account of existing 450k hdb loan), more than half will go to instalment which left with less than 5k for a big family with 1 kid, 1 infant, 4 old ppl.
wow ah tan really has very big steel ball. i hear already jelly leg
i think it's 7k+ gross income (ard 5.5k take home) plus 2k rental on parent's hdb plus potential 3k rental income on his TB hdb (got rental tax and ppty tax hor!)... so max 10k in total. TB hdb loan covered by both cpf, but 5k condo loan will have to come out of cash.
so their daily expenses will need to be covered purely by their hdb rental income. sounds like walking on a tightrope. dunno how to :sleep: well if economy really go south and retrenchment exercises come along! :scared-3:
I am spreading my loan tenure over 35 years span.
I have a disposal income of 2k+ from my parent's HDB rental.
I admit the financial flow will be tight, however I also believe we can manage it if we strictly adhere to the ground rules.
ok, if really really touch wood u or your wife lost your jobs... u got consider how u going to tide by? i think this is the ground scenario u need to work on.
do u have at least 6mths rainy funds in cash to cover the potential mortgage payments on both hdb and condo loans (lost cpf and lost income) before u can potentially get a new job?
i think it's 7k+ gross income (ard 5.5k take home) plus 2k rental on parent's hdb plus potential 3k rental income on his TB hdb (got rental tax and ppty tax hor!)... so max 10k in total. TB hdb loan covered by both cpf, but 5k condo loan will have to come out of cash.
so their daily expenses will need to be covered purely by their hdb rental income. sounds like walking on a tightrope. dunno how to :sleep: well if economy really go south and retrenchment exercises come along! :scared-3:
HDB rental tax is classfied under generated revenue in IRAS, and this can be easily offset with my wife's account as we have 2 kids and we have good tax rebates.
Property tax for HDB is managable, and our private property in D10 will fall under sub 4%, effectively and will be manageable.
Daily expenses as mentioned, I will do bulk purchase of food and usually dine in home. It's very rare to eat out and it is not economical to eat out with all kind of junk food.
Our workplace (my wife and myself) are very near to Mt Sinai and effectively we are taking company bus from Holland V; hence car usage etc will be minimize.
All and many more are calculated move and plan to ensure our dollars are being maximise. I could have share more, however it is again personal preference for one's person meat is the other's poison.
i think it's 7k+ gross income (ard 5.5k take home) plus 2k rental on parent's hdb plus potential 3k rental income on his TB hdb (got rental tax and ppty tax hor!)... so max 10k in total. TB hdb loan covered by both cpf, but 5k condo loan will have to come out of cash.
so their daily expenses will need to be covered purely by their hdb rental income. sounds like walking on a tightrope. dunno how to :sleep: well if economy really go south and retrenchment exercises come along! :scared-3:
this is the risk that he think he can swallow. but i really doubt he is serious abt buying. i came across someone who over commit and end up commit suicide (didnt die)
ok, if really really touch wood u or your wife lost your jobs... u got consider how u going to tide by? i think this is the ground scenario u need to work on.
do u have at least 6mths rainy funds in cash to cover the potential mortgage payments on both hdb and condo loans (lost cpf and lost income) before u can potentially get a new job?
Under worst case scenario, I will have to sell away my parent's HDB flat and retreat to Tiong Bahru 5 room HDB flat to consolidate my finance.
Next, I will also rent out the Mt Sinai property at a reasonable, not far-fetch rental amount. If the price is not attractive etc, I will weigh in the 4% saving in property tax; whichever better I will choose to stay there.
Technically speaking, our jobs are secure for now. However, in view of uncertainty ahead my wife has started to look for a new job while consuming her 04 months maternity leaves.
Under worst case scenario, I will have to sell away my parent's HDB flat and retreat to Tiong Bahru 5 room HDB flat to consolidate my finance.
Next, I will also rent out the Mt Sinai property at a reasonable, not far-fetch rental amount. If the price is not attractive etc, I will weigh in the 4% saving in property tax; whichever better I will choose to stay there.
Technically speaking, our jobs are secure for now. However, in view of uncertainty ahead my wife has started to look for a new job while consuming her 04 months maternity leaves.
ok.. then all the best. i hope it will all pan out well for u in the end for the sake of your dependants.
singapore employment laws are extremely lax to encourage foreign firms to set up shop here so dun take for granted that jobs are secure.
the reason why is cos during 2009, high and low flyers both also kenna chopped left right centre. it could be dismayal... and at that pt, if u sell your hdb flat u can forgo the yummelicious COVs bandied ard now.
Yowetan, have you done a cash flow projection for your investment and backup plan if things doesnt pan out as per what you hope?
e.g kid couldnt get into Henry Park, interest rate goes up, job, medical expenses etc. And most importantly, will your family, especially your kids be HAPPY living like a church mouse within D10 neighborhood?
For now, you might think that it will be a big deal to be living in D10, but once you move in, i can assure you that within 3 months you will feel that it is not such a big deal after all.
I heard that in Ridgewood, there is at least one family who uses the swimming pool changing rooms regularly for their family showers to save on water and utilities in their own home. :D
I am spreading my loan tenure over 35 years span.
I have a disposal income of 2k+ from my parent's HDB rental.
I admit the financial flow will be tight, however I also believe we can manage it if we strictly adhere to the ground rules. what are the ground rules?
- Deprive your children of monthly macdonald's (that is unfortunate but it's livable)
- Deprive children of enrichment classes (that is unfortunate but it's livable, you and wife will have to work doubly hard to educate your children)
- Deprive of a maid to look after your young kids (Instead of having a maid to look after your old parents & young kids, now your old parents have to look after the kids)
- Deprive of a maid to help your old parents do housework (Your old parents just have to continue doing housework in their old age instead of enjoying their golden years)
- Kids and parents fall sick cannot see doc? self medicate? (or maybe go polytechnic can le, no need go GP or PD or whatever specialist..) Or go JB see doc?
And many others that some might say are needs and some might say are wants... but just to live in a D10 3 bedder, all life's enjoyment are so constrained in order to be in these 4 walls that most of the time you are not inside. Why not use this $$ to enjoy life instead? And if you are retrenched how? If you are able to leave by these rules, what about your young children or old parents. Have you asked them, is this what they want? Please do not be so selfish to sacrifice the entire family to suffer along with you just so you can fulfill an impossible dream
I heard that in Ridgewood, there is at least one family who uses the swimming pool changing rooms regularly for their family showers to save on water and utilities in their own home. :D
really meaningless to live in such just to have achieve a private house goal
I heard that in Ridgewood, there is at least one family who uses the swimming pool changing rooms regularly for their family showers to save on water and utilities in their own home. :D
Hi, is this really the truth?
Interesting...
pinkpolkadot
08-06-12, 17:26
I have only this to say to Ah Tan:
自不量力
what are the ground rules?
- Deprive your children of monthly macdonald's (that is unfortunate but it's livable)
- Deprive children of enrichment classes (that is unfortunate but it's livable, you and wife will have to work doubly hard to educate your children)
- Deprive of a maid to look after your young kids (Instead of having a maid to look after your old parents & young kids, now your old parents have to look after the kids)
- Deprive of a maid to help your old parents do housework (Your old parents just have to continue doing housework in their old age instead of enjoying their golden years)
- Kids and parents fall sick cannot see doc? self medicate? (or maybe go polytechnic can le, no need go GP or PD or whatever specialist..) Or go JB see doc?
And many others that some might say are needs and some might say are wants... but just to live in a D10 3 bedder, all life's enjoyment are so constrained in order to be in these 4 walls that most of the time you are not inside. Why not use this $$ to enjoy life instead? And if you are retrenched how? If you are able to leave by these rules, what about your young children or old parents. Have you asked them, is this what they want? Please do not be so selfish to sacrifice the entire family to suffer along with you just so you can fulfill an impossible dreamBank staff family members can get free medical.
Hi, is this really the truth?
Interesting...
Yes I have a friend who lives there.
She says the family go down to the shower rooms in the swimming pool to shower and she has seen them bring their toothbrushes to brush teeth there too......You can save money like them if you get your condo there. But hope you don't have to fight with them to use the facilities during peak hours.
btw Ghim Moh market is good. Nice food there. Your parents, in-laws will like going to the market in the morning to shop and have breakfast.
Yes I have a friend who lives there.
She says the family go down to the shower rooms in the swimming pool to shower and she has seen them bring their toothbrushes to brush teeth there too......You can save money like them if you get your condo there. But hope you don't have to fight with them to use the facilities during peak hours.
btw Ghim Moh market is good. Nice food there. Your parents, in-laws will like going to the market in the morning to shop and have breakfast.
I am surprise the MSCT is not doing anything to stop them. Interesting though.
Yes, I have had said Mt Sinai is a heavenly enclave for me, and my family; It is strategically position to meet our family's needs and expectations. My parents will definitely enjoy the hustling early crowd of Gim Moh market, and the cooked food there is reasonably price.
The surrounding neighbourhood Henry Park Primary is also good, and will be add-valued for my two children with close proximity and accessibility.
The whole Mt Sinai is quiet, serene and greenary; it will be a good pleasing ground for my parents, and a conducive environment for my growing children. What is more to expect when I can have almost all basic ammentities in the condominium premise; This is why I rule out Serria Park for I dun agree with apartment.
All in all, I like the place and find value in there and would love to be vested as a home owner/stayer for many years to come ahead of me, and my future generation.
Bank staff family members can get free medical.
Yes. You must have known someone who works in bank then.
My company covers all medical expenses for my family members, including my parents though it is the basic medical care.
I am also buying extensive employee dependent scheme to cover them like a normal term insurance at an affordable monthly rate of under 25SGD.
buttercarp
08-06-12, 18:14
Yes I have a friend who lives there.
She says the family go down to the shower rooms in the swimming pool to shower and she has seen them bring their toothbrushes to brush teeth there too......You can save money like them if you get your condo there. But hope you don't have to fight with them to use the facilities during peak hours.
btw Ghim Moh market is good. Nice food there. Your parents, in-laws will like going to the market in the morning to shop and have breakfast.
A few years ago some cheap skate families in my place also did the same thing by bathing in the toilet at the club house.
One family even transported pails of water from the common toilet!
So the MCST turn off the water heater to the bathroom and told the guard to keep a look out.
That solved the problem.
chweegrace
08-06-12, 18:17
Hi yowetan, employee insurance are only temp cover cos when u change job or Retrench, you will lose the cover. The new company insurance may exclude any existing illness.
buttercarp
08-06-12, 18:17
For now, you might think that it will be a big deal to be living in D10, but once you move in, i can assure you that within 3 months you will feel that it is not such a big deal after all.
I think you are right!
What's most important is the quality of life.
A HDB in a decent estate eg Tiong Bahru in yowetan's case has nice surroundings and conveniences.
Hi yowetan, employee insurance are only temp cover cos when u change job or Retrench, you will lose the cover. The new company insurance may exclude any existing illness.
Hi. Thanks for the reminder. I am fully aware.
Our parents are covered and insured with basic medishield from government. I believe this will be the basic coverage and would be sufficient. As mentioned in my past postings, it is the government responsibility to look after the silver age group and it is our government job to ensure medical care and basics are kept to the fundamental and affordable to her people. In this case, I will leave to the government and I have had said I have never seen a public hospital or private hospital in Singapore refusing patients in need recieving treatment as of yet. Hence, my bet is to hand over the basic responsibility back to the government that taxes us.
Hi. Thanks for the reminder. I am fully aware.
Our parents are covered and insured with basic medishield from government. I believe this will be the basic coverage and would be sufficient. As mentioned in my past postings, it is the government responsibility to look after the silver age group and it is our government job to ensure medical care and basics are kept to the fundamental and affordable to her people. In this case, I will leave to the government and I have had said I have never seen a public hospital or private hospital in Singapore refusing patients in need recieving treatment as of yet. Hence, my bet is to hand over the basic responsibility back to the government that taxes us.
dont count on it. when they move from HDB into PC, they will no longer enjoy the same subsidies as being HDB dweller.
dont count on it. when they move from HDB into PC, they will no longer enjoy the same subsidies as being HDB dweller.
I am unsure about this as they will still keep their HDB flat, with their IC bearing HDB address.
I am unsure about this as they will still keep their HDB flat, with their IC bearing HDB address.
when they are no longer living there, it is a must for them to inform the authority of the new address.
chweegrace
08-06-12, 18:38
The banking industry is also doing a lot of retrenchment this year. Cos if sales down , then they have to manage the cost. There are quite a number of ppl I know that are still doing contract jobs or no jobs when they are retrenched for this year. Some operation department in the bank are moveto chennai or other countries so whole department are gone and some sales team 50% retrenched.
In this kind of environment , having a 1 year emergency fund is more realistic. Please save as much as you can if you still want to proceed
when they are no longer living there, it is a must for them to inform the authority of the new address.
if not mistaken, its chargeable not to update.
The banking industry is also doing a lot of retrenchment this year. Cos if sales down , then they have to manage the cost. There are quite a number of ppl I know that are still doing contract jobs or no jobs when they are retrenched for this year. Some operation department in the bank are moveto chennai or other countries so whole department are gone and some sales team 50% retrenched.
In this kind of environment , having a 1 year emergency fund is more realistic. Please save as much as you can if you still want to proceed
Thanks for sharing the market movement.
Yes, my team has restructured early this month; we have stop contract staffs, and now moving with all perm staffs now.
Yes, we will watch our back. That is why my wife is looking for jobs now.
The banking industry is also doing a lot of retrenchment this year. Cos if sales down , then they have to manage the cost. There are quite a number of ppl I know that are still doing contract jobs or no jobs when they are retrenched for this year. Some operation department in the bank are moveto chennai or other countries so whole department are gone and some sales team 50% retrenched.
In this kind of environment , having a 1 year emergency fund is more realistic. Please save as much as you can if you still want to proceed
Thanks for sharing the market movement.
Yes, my team has restructured early this month; we have stop contract staffs, and now moving with all perm staffs now.
Yes, we will watch our back. That is why my wife is looking for jobs now.
Thanks for sharing the market movement.
Yes, my team has restructured early this month; we have stop contract staffs, and now moving with all perm staffs now.
Yes, we will watch our back. That is why my wife is looking for jobs now.
You wanna hoot better be quick, resale prices are gaining strength:
http://www.todayonline.com/Business/Property/EDC120608-0000044/Resale-market-finally-shakes-off-ABSD
You wanna hoot better be quick, resale prices are gaining strength:
http://www.todayonline.com/Business/Property/EDC120608-0000044/Resale-market-finally-shakes-off-ABSD
price is definitely rising in CCR, especially those property that is in the region of 1-1.5m. If near MRT, most are already gone by now.
So for Yowetan, the chance of getting a 900-1000psf Mount Senai property is getting slimmer. but there is nothing to despair. it is still a buyer market Just have to look for less popular location.
If you want good school PC. Can consider property around Nan Hua. Faber Crest is relatively cheap, if you dont mine LH. Good potential for plot ratio revision and near JLD.
Yes, I have recieved IP approval from SCB (My friend works there as relationship manager).
Yes, with IP approval and my manager's approval my workplace is granting me 80-90% loan amount up to 1.5 mil SGD.
This is the greatest rubbish I come across.
For SCB, first staff housing loan is 90% with 0.4% above SIBOR, subject to debt servicing ratio.
Second housing loan is 60% LTV at market rate, subject to debt servicing ratio.
Ah Tan can get 80-90% on the following :
1. He thought first staff loan is the same as first housing loan. This is different, as the first housing loan may not be with the same bank.
2. The debt servicing ratio with his household income is out for $1.5m.
Next he said, he can buy PC even his flat is within MOP, someone asked how : He mentioned "secret" and this is another big rubbish.
There are many data share between IRAS and HDB. One is the matching of private property owners to the HDB dwelling unit owners to check on the MOP. And this just take 2 minute of the system time.
I nvr look down a person to this extent before.
I forgot to add, I suppose the rental income is being declared as his parent's income for income tax purpose to save his tax. So, this cannot be taken for his debt servcing ratio at all as the property does not belong to him
This is the greatest rubbish I come across.
For SCB, first staff housing loan is 90% with 0.4% above SIBOR, subject to debt servicing ratio.
Second housing loan is 60% LTV at market rate, subject to debt servicing ratio.
Ah Tan can get 80-90% on the following :
1. He thought first staff loan is the same as first housing loan. This is different, as the first housing loan may not be with the same bank.
2. The debt servicing ratio with his household income is out for $1.5m.
Next he said, he can buy PC even his flat is within MOP, someone asked how : He mentioned "secret" and this is another big rubbish.
There are many data share between IRAS and HDB. One is the matching of private property owners to the HDB dwelling unit owners to check on the MOP. And this just take 2 minute of the system time.
I nvr look down a person to this extent before.
I forgot to add, I suppose the rental income is being declared as his parent's income for income tax purpose to save his tax. So, this cannot be taken for his debt servcing ratio at all as the property does not belong to him
First, my workplace is not SCB.
Second, debt servicing ratio has been calculated by my colleague in another department while I go through my bank's HR and managerial approval.
Third, with regards to HDB MOP and the opportunity to get a PC is none of your business since this is my purchase.
Thank you.
First, my workplace is not SCB.
Second, debt servicing ratio has been calculated by my colleague in another department while I go through my bank's HR and managerial approval.
Third, with regards to HDB MOP and the opportunity to get a PC is none of your business since this is my purchase.
Thank you.
There is no bank in Sg will go against MAS/MND's ruling. The MAS inspection will kill them. There is no bank offer staff loan to non-employee. Day dreamer....
I supposed u did not make a true and full disclousure to whosoever.
I warns u dun play around with MOP, I know the enforcement by HDB very well. Ya, it is none of my business, but I just simply look down a person like u.
This is the greatest rubbish I come across.
For SCB, first staff housing loan is 90% with 0.4% above SIBOR, subject to debt servicing ratio.
Second housing loan is 60% LTV at market rate, subject to debt servicing ratio.
Ah Tan can get 80-90% on the following :
1. He thought first staff loan is the same as first housing loan. This is different, as the first housing loan may not be with the same bank.
2. The debt servicing ratio with his household income is out for $1.5m.
Next he said, he can buy PC even his flat is within MOP, someone asked how : He mentioned "secret" and this is another big rubbish.
There are many data share between IRAS and HDB. One is the matching of private property owners to the HDB dwelling unit owners to check on the MOP. And this just take 2 minute of the system time.
I nvr look down a person to this extent before.
I forgot to add, I suppose the rental income is being declared as his parent's income for income tax purpose to save his tax. So, this cannot be taken for his debt servcing ratio at all as the property does not belong to him U are correct. There is MOP to be fulfilled. database certainly linked. It's either eligible or not within the rules, no such thing as "secret". If indeed secret, then very misleading and fishy..
URA website
http://www.ura.gov.sg/lad/HBG/basicCheck.htm#eligibility
"*
Basic Checks
Buying a new apartment, flat or house may probably be your single largest investment. Hence, before you even visit a showflat or view any unit, it is important that you familiarise yourself with some existing Government policies which may affect you."
HDB website
http://www.hdb.gov.sg/fi10/fi10322p.nsf/w/SellFlatMinimumOccupationPerid?OpenDocument
Hi. Thanks for the reminder. I am fully aware.
Our parents are covered and insured with basic medishield from government. I believe this will be the basic coverage and would be sufficient. As mentioned in my past postings, it is the government responsibility to look after the silver age group and it is our government job to ensure medical care and basics are kept to the fundamental and affordable to her people. In this case, I will leave to the government and I have had said I have never seen a public hospital or private hospital in Singapore refusing patients in need recieving treatment as of yet. Hence, my bet is to hand over the basic responsibility back to the government that taxes us.
u can experiement first to prove that ur wrong especially in the private hospital.
The hospital check first their addresses, next their household income.
There is no way u can get away unless u throw them away.
I am surprised that I could not maintain my cool on this guy.
Sep 2011, Yowetan said he owned 2bedder bought for $700k
http://forums.condosingapore.com/showpost.php?p=193262&postcount=5
Feb 2012, Yowetan said he sold his unit for $800k+
http://forums.condosingapore.com/showpost.php?p=232979&postcount=42
Few days ago, Yowetan HDB flat is in Tiong Bahru..
http://forums.condosingapore.com/showpost.php?p=278137&postcount=3
So wat does this joker wants?
Sep 2011, Yowetan said he owned 2bedder bought for $700k
http://forums.condosingapore.com/showpost.php?p=193262&postcount=5
Feb 2012, Yowetan said he sold his unit for $800k+
http://forums.condosingapore.com/showpost.php?p=232979&postcount=42
Few days ago, Yowetan HDB flat is in Tiong Bahru..
http://forums.condosingapore.com/showpost.php?p=278137&postcount=3
Oh crap a crap.. so that means he has taken us for a ride?
u can experiement first to prove that ur wrong especially in the private hospital.
The hospital check first their addresses, next their household income.
There is no way u can get away unless u throw them away.
I am surprised that I could not maintain my cool on this guy.
For your information, my dad was admitted hospital a year ago. The hospital just admitted and register him based on the address display on the IC.
He was warded to ward C, based on his past record then receiving treatment straight. Consellor came and consulted us on the cost and price after the treatment, and when my dad was about to discharge. As usual, based on his age with his retired status, the cost is not alot and covered fully by his medishield.
I am surprise I actually share with you on this incident; I dun think you should get so work up since you are never in my shoe.
Oh crap a crap.. so that means he has taken us for a ride?
You ought to do your own research and search more thoroughly on my postings.
It is no mere coincidental that I am holding onto a 5 room HDB flat now.
Hence, please read and research dilligently if you like/want before you made the above deduction.
From all these postings, we can see that his mind is made up. We should just encourage him. If he made it, we should applaud his vision. It does not affect us one bit. If he fails, he pays the price which he is willing to. Our life goes on...:cheers5:
how real is real?
DEFINE REAL.
:doh:
I forgot to add, I suppose the rental income is being declared as his parent's income for income tax purpose to save his tax. So, this cannot be taken for his debt servcing ratio at all as the property does not belong to him
...not quite as his parents' address is still officially at their HDB flat, to ensure they get the full subsidy from government for hospitalization....meaning they have not reported that the whole HDB flat is being rented out.....otherwise the rental income would reduce the health subsidy?
...so actually officially the rental income is non-exixtence.....wonder how he can get this and the potential rental income from his HDB into the equation for his loan application......
..wonder what's cooking....
You ought to do your own research and search more thoroughly on my postings.
It is no mere coincidental that I am holding onto a 5 room HDB flat now.
Hence, please read and research dilligently if you like/want before you made the above deduction.
Well perhaps you can clarify on this, I usually do not wish to dig other people's post n too much work liao. Imagine you are helping someone, then kenna taken for a ride, how would you feel. Maybe you can enlighten me on this, otherwise I will feel damn cheated :banghead: :banghead:
buttercarp
08-06-12, 22:40
Yowetan, so many of the bros and sis here have given you the necessary advice so it is up to you whether you want to take the final plunge.
Just be aware of the limitations eg HDB MOP, hidden costs eg buyer's stamp duty, reno, etc and the ability to secure a loan which have been mentioned so far.
Laguna, please do not feel so much for him at the expense of your health.
Most of us here value your input so your health is important to us.
Yowetan, so many of the bros and sis here have given you the necessary advice so it is up to you whether you want to take the final plunge.
Just be aware of the limitations eg HDB MOP, hidden costs eg buyer's stamp duty, reno, etc and the ability to secure a loan which have been mentioned so far.
Laguna, please do not feel so much for him at the expense of your health.
Most of us here value your input so your health is important to us.
Hi. Yes, I do consider the hidden cost i.e. Stamp duty 500SGD, as well as the 0.03*property price - 5400SGD stamp duty charges.
This is primarily reason why I took a look at Flamingo Valley, in hoping to evade the stamp duty, but to realise the cost saved is not significant and I feel I could get more by shifting the attention back to Mt Sinai area.
As for the reno theme, if I do manage to get a resales said unit I will probably go minimalist theme and will probably rope in my parents and engage them to DIY our home. I will just do my best to contain the cost of renovating to 10kSGD max which I think it is achievable.
All in all, I feel getting Mt Sinai is achievable plan and I am really looking forward to own a PC there to fufil my family vision and dream.
Well perhaps you can clarify on this, I usually do not wish to dig other people's post n too much work liao. Imagine you are helping someone, then kenna taken for a ride, how would you feel. Maybe you can enlighten me on this, otherwise I will feel damn cheated :banghead: :banghead:
The thread(s) and post(s) are readily available in this forum or google cache for you to review, peruse and analyze.
If you usually do not dig into people history, I reckon you would comment with responsibility as well, and not jumping to the conclusion like some other forumer who call people "monkey" and "joker" which is uncalled for.
I do not wish to dwell on that, for this thread was not even started by me. I am merely participating and engage into the forum, sharing and contributing my thoughts and plans. That being said, I dun think I require all fellow forumers consensus and approval to go ahead with my purchase?
Do unto others as you would have them do to you.
The thread(s) and post(s) are readily available in this forum or google cache for you to review, peruse and analyze.
If you usually do not dig into people history, I reckon you would comment with responsibility as well, and not jumping to the conclusion like some other forumer who call people "monkey" and "joker" which is uncalled for.
I do not wish to dwell on that, for this thread was not even started by me. I am merely participating and engage into the forum, sharing and contributing my thoughts and plans. That being said, I dun think I require all fellow forumers consensus and approval to go ahead with my purchase?
Do unto others as you would have them do to you.
I always abide by forum ethics and I never resort or recall calling anyone names. I never did directly implied on anything or made a conclusion but merely questioning if I was taken for a ride?
Do unto others as you would have them do to you.
I seriously catch no ball what you mean by this :doh: What did I do? I really hur hur like wee hur liao
The thread(s) and post(s) are readily available in this forum or google cache for you to review, peruse and analyze.
If you usually do not dig into people history, I reckon you would comment with responsibility as well, and not jumping to the conclusion like some other forumer who call people "monkey" and "joker" which is uncalled for.
I do not wish to dwell on that, for this thread was not even started by me. I am merely participating and engage into the forum, sharing and contributing my thoughts and plans. That being said, I dun think I require all fellow forumers consensus and approval to go ahead with my purchase?
Do unto others as you would have them do to you.
Lol. Nothing wrong calling ppl joker leh :lol: never call u free loaded already very nice to you
Somehow, I get this impression that yowetan is a troll and has more than one account :simmering:
If he is real, I'm sure his "secret methods" will get exposed by the authorities eventually :tsk-tsk:
Having a new family member is a big event. Wife going to change job at the eve of a major financial commitment is another big event. He sure like to get his feet wet.
Anyway, I now know why medisave is made mandatory.... it is to prevent people like him from dumping medical debts to taxpayers like us :tongue3:
What would I do if I were yowetan.
The danger is still valuation call, repricing, retrenchment and wrong part of property cycle. I would think if mr yowe can monetize his assets to the max is more important to counter valuation top-up in future by my definition of calculated risk. Say a 3rd fully paid investment asset?
Calculated risk does not involve emotional attachment to a particular district for lifestyle. I do not think for the sake of Henry Park and ghim moh market is worth taking such a risk. I totally see no problem living with parents and chewren in HDB, in fact might be happier.
Somehow, I get this impression that yowetan is a troll and has more than one account :simmering:
If he is real, I'm sure his "secret methods" will get exposed by the authorities eventually :tsk-tsk:
Having a new family member is a big event. Wife going to change job at the eve of a major financial commitment is another big event. He sure like to get his feet wet.
Anyway, I now know why medisave is made mandatory.... it is to prevent people like him from dumping medical debts to taxpayers like us :tongue3:
I have no reason to doubt him as a troll actually given the level of detailed replies he has made and the research he has done. At first his redundant postings on every thread seems to be irritating coz it is OT at times but after his persistence, I see him as someone who is genuine to get a property for him and his family :) It is important not to get too emotionally attached like the B-forum until no day no night, since he already decides on getting one and have considered all options/consequences, who are we to stop him
What would I do if I were yowetan.
The danger is still valuation call, repricing, retrenchment and wrong part of property cycle. I would think if mr yowe can monetize his assets to the max is more important to counter valuation top-up in future by my definition of calculated risk. Say a 3rd fully paid investment asset?
Calculated risk does not involve emotional attachment to a particular district for lifestyle. I do not think for the sake of Henry Park and ghim moh market is worth taking such a risk. I totally see no problem living with parents and chewren in HDB, in fact might be happier.
Hi. You could be right staying in HDB might be happier in fact.
However, the reality for me at least is that I (myself) have to step abit further and venture deeper to reap more for my family. I am also prepare for bankruptcy if my vision fails and I am ready to take full responsibility for the mistake I make (if any).
As for lifestyle, emotional attachment and preference over a district/area it is afterall a very personal and subjective taste.
Somehow, I get this impression that yowetan is a troll and has more than one account :simmering:
If he is real, I'm sure his "secret methods" will get exposed by the authorities eventually :tsk-tsk:
Having a new family member is a big event. Wife going to change job at the eve of a major financial commitment is another big event. He sure like to get his feet wet.
Anyway, I now know why medisave is made mandatory.... it is to prevent people like him from dumping medical debts to taxpayers like us :tongue3:
The real problem is our healthcare system is not perfect.
If Mr. Khaw can pay 8SGD for per-say surgery why can't I pay the same and lesser based on medi-shield?
Our imperfect healthcare system has laden us with liabilities that our medisave are locked for whatever good reason(s) if any.
Laguna, please do not feel so much for him at the expense of your health. Most of us here value your input so your health is important to us.
我才不会计较
我是丞相一位，肚大可撑船
而他只是小船一只
风大点就呜咽哀衰了
I simply can't image a man can prepare to go into bankruptcy for this purpose.
Just realise the hit rate for this thread is very high....
我才不会计较
我是丞相一位，肚大可撑船
而他只是小船一只
风大点就呜咽哀衰了
I simply can't image a man can prepare to go into bankruptcy for this purpose.
Just realise the hit rate for this thread is very high....
算了吧。perhaps we should listened to 孔子....
子曰：“朽木不可雕也，粪土之墙不可圬也！于予与何诛？”
子曰：“始吾于人也，听其言而信其行；今吾于人也，听其言而观其行。于予与改是。”
Hope my memory is correct....
phantom_opera
08-06-12, 23:54
Who can escape from samsara?? Everybody, including phantom of the opera, is obsessed with something .. night time sharpens, heighten each sensation :sleep:
http://ia.media-imdb.com/images/M/MV5BMTY2NTY0OTQzOV5BMl5BanBnXkFtZTcwNTQxNDMzMQ@@._V1._SY317_CR3,0,214,317_.jpg
Phantom Opera,
I like this part:
Past the point of no return
The final threshold
The bridge is crossed
So stand and watch it burn
We've passed the point of no return
For your information, my dad was admitted hospital a year ago. The hospital just admitted and register him based on the address display on the IC.
He was warded to ward C, based on his past record then receiving treatment straight. Consellor came and consulted us on the cost and price after the treatment, and when my dad was about to discharge. As usual, based on his age with his retired status, the cost is not alot and covered fully by his medishield.
I am surprise I actually share with you on this incident; I dun think you should get so work up since you are never in my shoe.
It is not just the one-time hospitalisation costs. It is those chronic illnesses, follow on treatment, lab tests, medication, consultations, physiotherapies etc that you should be aware of. These will take a long term financial toll.
Families have been known to sell off HDB flats to pay for chronic illnesses and cancer treatments.
chweegrace
09-06-12, 01:03
also must buy critical illness cover for your family.
Must make sure buy mortgage insurance if u dive into your plan
phantom_opera
09-06-12, 08:18
Phantom Opera,
I like this part:
Past the point of no return
The final threshold
The bridge is crossed
So stand and watch it burn
We've passed the point of no return
thank u for your support
http://upload.wikimedia.org/wikipedia/en/thumb/e/ec/Phantom_of_the_Opera_Cover.jpg/200px-Phantom_of_the_Opera_Cover.jpg
For your information, my dad was admitted hospital a year ago. The hospital just admitted and register him based on the address display on the IC.
He was warded to ward C, based on his past record then receiving treatment straight. Consellor came and consulted us on the cost and price after the treatment, and when my dad was about to discharge. As usual, based on his age with his retired status, the cost is not alot and covered fully by his medishield.
I am surprise I actually share with you on this incident; I dun think you should get so work up since you are never in my shoe.
ya, he is in class C, which is heavily subsidised by the Govt.
But one hv to differentiate in the event of emergency, u at times are given no choice but to pay.
My recent experience of going to SGH as a subsidised patient, wait to see a junior, one month, wait for a MRI another one month. And I decided this is not the solution in view of my pain, I went to non-subsidisd class, see the professor the next day and operated within 3 days.
ya, he is in class C, which is heavily subsidised by the Govt.
But one hv to differentiate in the event of emergency, u at times are given no choice but to pay.
My recent experience of going to SGH as a subsidised patient, wait to see a junior, one month, wait for a MRI another one month. And I decided this is not the solution in view of my pain, I went to non-subsidisd class, see the professor the next day and operated within 3 days.
I have lost trust in government taking care of citizens (okay maybe those bottom 10% are taken care of to score some political points). Now if you want good service you really have to pay.
I have lost trust in government taking care of citizens (okay maybe those bottom 10% are taken care of to score some political points). Now if you want good service you really have to pay.
Ya, easy to recruit foreign talent, 1 less citizen can be easily replaced....:scared-3:
Hi. You could be right staying in HDB might be happier in fact.
However, the reality for me at least is that I (myself) have to step abit further and venture deeper to reap more for my family. I am also prepare for bankruptcy if my vision fails and I am ready to take full responsibility for the mistake I make (if any).
As for lifestyle, emotional attachment and preference over a district/area it is afterall a very personal and subjective taste.
just do it ,brother!
why worry about the $/psf?
wack a D10 condo this weekend!
You may be caught in a surprise & see property market rocket up another 50% ?
HUAT AH!
don't need bargain liao... you will sure be a winner by owning a D10 condo..
get to see sexy young angmo girl swimming in the pool!
win-win situation for you. Grab your D10 condo NOW!! :D
ya, he is in class C, which is heavily subsidised by the Govt.
But one hv to differentiate in the event of emergency, u at times are given no choice but to pay.
My recent experience of going to SGH as a subsidised patient, wait to see a junior, one month, wait for a MRI another one month. And I decided this is not the solution in view of my pain, I went to non-subsidisd class, see the professor the next day and operated within 3 days.
Parents can die... Just grieve for 7 days. But the condo car park label on car... That is happiness... But not my definition hor...
buttercarp
09-06-12, 11:29
But the condo car park label on car... That is happiness... But not my definition hor...
My car got only 2 things on the front wind screen.
Condo label and road tax.
Each time wait at HDB carpark must be very careful cos the carpark attendent straight away know that I am not a resident there.
The other day, immediately after I reversed into a white carpark lot, with my engine on, this carpark warden came to the front of my car and started jotting down my plate number.
Apparently according to her I cannot even wait in the car without displaying coupon!
So ngiao one, so i said i drive to another spot and waited in the carpark but not in the lot.
She also chased me away.
I was so fed up and wrote to HDB to clarify.
The officer in charge said that I could wait in the white lot for 10 minutes only, after which I am required to display a parking coupon.
ya, he is in class C, which is heavily subsidised by the Govt.
But one hv to differentiate in the event of emergency, u at times are given no choice but to pay.
My recent experience of going to SGH as a subsidised patient, wait to see a junior, one month, wait for a MRI another one month. And I decided this is not the solution in view of my pain, I went to non-subsidisd class, see the professor the next day and operated within 3 days.
I agree that the state of situation demands the attention; however it is not equate to quality healthcare by turning to private or non-subsidize class.
Quality in public hospitals are pretty consistent, and I would say the doctors particularly may not be as skilled/experienced as the private practioners but they are certainly up to the mark when compared to many other countries.
In your case, quality of life would improve by going to the private/non-subsidize and this is undeniable however it is again subjected to the situation presented.
In my case, quality of life ROI for my parents are certainly not impact by the speed of medical attention but the quality of long term care solution. My parent's situation like many elders would be of chronic case(s) most of the time, unlike yours in this particulary case could be an acute case.
Acute and chronic care are a world apart. My company healthcare policy can accomodate Acute case, however for Chronic case it would be best leave to the government care.
It is our government responsibility, basic fundamental to provide quality and affordable chronic healthcare solution and service to OUR people, Singaporean.
My car got only 2 things on the front wind screen.
Condo label and road tax.
Each time wait at HDB carpark must be very careful cos the carpark attendent straight away know that I am not a resident there.
Depends on car also lah... You drive flashy car?
There was once me and my friend both exceeded timing at car park. He got ticket and I did not. He drives SLK, I drive Jap saloon. Or maybe I was lucky that day...
Depends on car also lah... You drive flashy car?
There was once me and my friend both exceeded timing at car park. He got ticket and I did not. He drives SLK, I drive Jap saloon. Or maybe I was lucky that day...
this is well known "secret" - expensive cars are usually HOT on their RADAR.
when i used to drive a van, you wont believe how much SUM BAN i escaped.
I agree that the state of situation demands the attention; however it is not equate to quality healthcare by turning to private or non-subsidize class.
Quality in public hospitals are pretty consistent, and I would say the doctors particularly may not be as skilled/experienced as the private practioners but they are certainly up to the mark when compared to many other countries.
It is our government responsibility, basic fundamental to provide quality and affordable chronic healthcare solution and service to OUR people, Singaporean.
Hmm. ... You say the health care quality is consistent in Singapore. Then why not education? Why die die must go to Henry Park and not any other primary school? So, it is government's responsibility to provide quality healthcare, but not education?
Hmm. ... You say the health care quality is consistent in Singapore. Then why not education? Why die die must go to Henry Park and not any other primary school? So, it is government's responsibility to provide quality healthcare, but not education?
Repair/renovation of house has been consistent, however building/construction of a building/house has never been consistent. - Healthcare
You can control the renovation cost but cannot control the construction cost due to other factor(s) where decision(s) are beyond your control. - Education
phantom_opera
09-06-12, 18:38
Interesting to track next time can publish the Road to D10 by yowetan
wat a joke? is he for real?
seriously yowetan no one is against u having a dream to owe a PC no matter how unrealistic ur dream is...
it's those callous statements u make that make pple blood boil .. eg it is e govt responsibility to take care of ur parents etc hello, I hope when u r old, ur children repeat that to u then will truly know wat it is to be in ur parents shoes...
our monthly household income is > x times urs and have a fully paid HDB yet we considered very very very long before deciding to get a normal PC in OCR. Live within your means.
I agree that the state of situation demands the attention; however it is not equate to quality healthcare by turning to private or non-subsidize class.
Quality in public hospitals are pretty consistent, and I would say the doctors particularly may not be as skilled/experienced as the private practioners but they are certainly up to the mark when compared to many other countries.
In your case, quality of life would improve by going to the private/non-subsidize and this is undeniable however it is again subjected to the situation presented.
In my case, quality of life ROI for my parents are certainly not impact by the speed of medical attention but the quality of long term care solution. My parent's situation like many elders would be of chronic case(s) most of the time, unlike yours in this particulary case could be an acute case.
Acute and chronic care are a world apart. My company healthcare policy can accomodate Acute case, however for Chronic case it would be best leave to the government care.
It is our government responsibility, basic fundamental to provide quality and affordable chronic healthcare solution and service to OUR people, Singaporean.
does it mean can tear coupon up to 10 min ahead? :D
My car got only 2 things on the front wind screen.
Condo label and road tax.
Each time wait at HDB carpark must be very careful cos the carpark attendent straight away know that I am not a resident there.
The other day, immediately after I reversed into a white carpark lot, with my engine on, this carpark warden came to the front of my car and started jotting down my plate number.
Apparently according to her I cannot even wait in the car without displaying coupon!
So ngiao one, so i said i drive to another spot and waited in the carpark but not in the lot.
She also chased me away.
I was so fed up and wrote to HDB to clarify.
The officer in charge said that I could wait in the white lot for 10 minutes only, after which I am required to display a parking coupon.
wat a joke? is he for real?
seriously yowetan no one is against u having a dream to owe a PC no matter how unrealistic ur dream is...
it's those callous statements u make that make pple blood boil .. eg it is e govt responsibility to take care of ur parents etc hello, I hope when u r old, ur children repeat that to u then will truly know wat it is to be in ur parents shoes...
our monthly household income is > x times urs and have a fully paid HDB yet we considered very very very long before deciding to get a normal PC in OCR. Live within your means.
There are many people in/out of this forum who are financially capable and better than me, and my family.
Being said, that will not stop me from venturing out for my dream.
There are many people in/out of this forum who are financially capable and better than me, and my family.
Being said, that will not stop me from venturing out for my dream.
no one is stopping u from pursuing a dream... by all means pls go ahead it's good to set ur sights higher.
but pple in this forum might not be 'picking' on u so much if u rely on yourself to achieve ur own dreams ie not eyeing your parents n in law HDB n e rental income ... but rely on ur own earning power to achieve ur dream
no one is stopping u from pursuing a dream... by all means pls go ahead it's good to set ur sights higher.
but pple in this forum might not be 'picking' on u so much if u rely on yourself to achieve ur own dreams ie not eyeing your parents n in law HDB n e rental income ... but rely on ur own earning power to achieve ur dream
I am unable to comment much for every family has their strategy, plan, vision and their very reason(s) for the action(s).
Actually there are FH landed within your budget, the only catch is the land size is very small and you will have to save up on re-building the house.
:beats-me-man:
e.g.
http://www.propertyguru.com.sg/listing/9843835/for-sale-macpherson-garden-estate
http://www.propertyguru.com.sg/listing/9985460/for-sale-opera-estate
http://www.propertyguru.com.sg/listing/3273789/for-sale-how-sun-upper-paya-lebar-
http://www.propertyguru.com.sg/listing/9836474/for-sale-macpherson-garden-estate
lol ... spend 130k to renovate your HDB like this family in Bishan:
http://business.asiaone.com/A1MEDIA/business/06Jun12/20120604.150124_bishanflat.jpg
nice table- top:p
nice table- top:p
the white one?
Actually there are FH landed within your budget, the only catch is the land size is very small and you will have to save up on re-building the house.
:beats-me-man:
e.g.
http://www.propertyguru.com.sg/listing/9843835/for-sale-macpherson-garden-estate
http://www.propertyguru.com.sg/listing/9985460/for-sale-opera-estate
http://www.propertyguru.com.sg/listing/3273789/for-sale-how-sun-upper-paya-lebar-
http://www.propertyguru.com.sg/listing/9836474/for-sale-macpherson-garden-estate
I do not have the spare cash to renovate/A&A the house.
Option B is to get those not too old 99yr landed. They are also within ur budget with live in conditions.
e.g.
http://www.propertyguru.com.sg/listing/9989040/for-sale-westville
http://www.propertyguru.com.sg/listing/9861768/for-sale-springhill
http://www.propertyguru.com.sg/listing/8971831/for-sale-villa-verde
:)
Option C is get a big 4 bedroom unit or 4 bedroom dual key unit. Or the interesting 4bedroom dual key penthouse unit at the nautical.
:2cents:
no one is stopping u from pursuing a dream... by all means pls go ahead it's good to set ur sights higher.
but pple in this forum might not be 'picking' on u so much if u rely on yourself to achieve ur own dreams ie not eyeing your parents n in law HDB n e rental income ... but rely on ur own earning power to achieve ur dream
Sis, save your trouble... Let's move on... Ah Tan very "Iron Tooth", no point sharing with him further...
Yes, Only Wants Elite, Totally Absolutely Nonsense....
I think is really nothing wrong to pursue his dream as long as his parents willingly support him. Which parent don't support their kids anyway ? I remember 9 years year when I just started my HDB...my dad loan me $20k for renovation...
As long as Ah Tan (Me also Tan :ashamed1: ) remember them and don't kick them out later will do ba...
Sis, save your trouble... Let's move on... Ah Tan very "Iron Tooth", no point sharing with him further...
Yes, Only Wants Elite, Totally Absolutely Nonsense....
LOL yes u r right bro!
Option B is to get those not too old 99yr landed. They are also within ur budget with live in conditions.
e.g.
http://www.propertyguru.com.sg/listing/9989040/for-sale-westville
http://www.propertyguru.com.sg/listing/9861768/for-sale-springhill
http://www.propertyguru.com.sg/listing/8971831/for-sale-villa-verde
:)
Option C is get a big 4 bedroom unit or 4 bedroom dual key unit. Or the interesting 4bedroom dual key penthouse unit at the nautical.
:2cents:
Thank you once again for the effort and kindness to do a search to assist me in decision-making.
However, I prefer FH/999.
I think is really nothing wrong to pursue his dream as long as his parents willingly support him. Which parent don't support their kids anyway ? I remember 9 years year when I just started my HDB...my dad loan me $20k for renovation...
As long as Ah Tan (Me also Tan :ashamed1: ) remember them and don't kick them out later will do ba...
Yes, you are absolutely right that my parents, and in-laws are supporting my dream.
I have also included all of them in tax-rebates; 7k for two, and another two for 5k.
Next, I will have two infant children tax-rebates. Hence, I will channel the rental income to the right proportion and using all the rebating tool to ensure the tax level is manageable.
My wife is covering his parents from our company healthcare policy, whereas I covering my parents, and both of us covering each other and our children. An exchange of strategy of healthcare needs.
My in-laws are retiree and jobless, and they are staying in HDB as well. I am planning to invite them to Mt Sinai venture should I manage a bigger catch at an affordable PSF, then I will urge them to rent out their HDB as well to get some disposal income.
I think is really nothing wrong to pursue his dream as long as his parents willingly support him. Which parent don't support their kids anyway ? I remember 9 years year when I just started my HDB...my dad loan me $20k for renovation...
As long as Ah Tan (Me also Tan :ashamed1: ) remember them and don't kick them out later will do ba...
Hi bro, pursuing dream is one thing... Dragging the whole family in for risk taking plus depending on garment to take care his parent is anther issue...
Totally disgusted with his selfish behavior...:doh:
Pine grove ex-hudc is within your budget. :beats-me-man:
http://www.propertyguru.com.sg/listing/8317964/for-sale-pine-grove
Or an original condition unit at Pandan valley. :2cents:
http://www.propertyguru.com.sg/listing/9803881/for-sale-pandan-valley
Pine grove ex-hudc is within your budget. :beats-me-man:
http://www.propertyguru.com.sg/listing/8317964/for-sale-pine-grove
Or an original condition unit at Pandan valley. :2cents:
http://www.propertyguru.com.sg/listing/9803881/for-sale-pandan-valley
Pandan valley is reasonable, however Ridgewood is a better cousin? As for pine grove, it is a 99LH which I am not interested.
My in-laws are retiree and jobless, and they are staying in HDB as well. I am planning to invite them to Mt Sinai venture should I manage a bigger catch at an affordable PSF, then I will urge them to rent out their HDB as well to get some disposal income.
very good strategy, move parents and PIL into a 3 rooms PC, rent out their HDB flats and collect rental into his own pocket. No allowance for them as they are willing to support him to realise his dream.
And if he goes bankrupt, his parents and PIL will sell the HDB flats, money goes to him and the Govt feeds the old folks.
very good strategy, move parents and PIL into a 3 rooms PC, rent out their HDB flats and collect rental into his own pocket. No allowance for them as they are willing to support him to realise his dream.
And if he goes bankrupt, his parents and PIL will sell the HDB flats, money goes to him and the Govt feeds the old folks.
I will let my in-law to decide if they want to sell/rent their HDB flat.
As of now, my parents are renting out and I keep the disposal income in preparation for the day to come.
I will let my in-law to decide if they want to sell/rent their HDB flat.
As of now, my parents are renting out and I keep the disposal income in preparation for the day to come.
Everyone knows u keep their rental income. Yet to see that day whether will come that they can use those money supposedly their money.
For your PIL, I read u the same.
So I learn, I shall not get a son-in-law like u and a daughter-in-law like your wife.
It's one thing to give and another thing to accept. Your parents want to give but you can don't accept out of consideration for them.
When I was young, I'll gladly accept everything my parents give me, from food to toys to lodging simply because I don't have the ability to look after myself and don't have any earning power. Today, I have everything needed to look after myself so I will not continue to take from my elderly parents but will instead give them pocket money. Just my humble opinion...
Anyway I don't know your family dynamics so can't comment further.
Dream a dream... :spliff:
Everyone knows u keep their rental income. Yet to see that day whether will come that they can use those money supposedly their money.
For your PIL, I read u the same.
So I learn, I shall not get a son-in-law like u and a daughter-in-law like your wife. Anyway, my girl's first pay cheque at the age of 21 is alr more than your current household income plus rental income.
I am helping to consolidating our humble resources in preparation of what is of today's objective - Getting a Mt Sinai private property.
Your daughter's earning has nothing to do with my venture though.
It's one thing to give and another thing to accept. Your parents want to give but you can don't accept out of consideration for them.
When I was young, I'll gladly accept everything my parents give me, from food to toys to lodging simply because I don't have the ability to look after myself and don't have any earning power. Today, I have everything needed to look after myself so I will not continue to take from my elderly parents but will instead give them pocket money. Just my humble opinion...
Anyway I don't know your family dynamics so can't comment further.
Dream a dream... :spliff:
Appreciate your kind understanding and appreciating of indvidual family's different dynamics and it's way of operating.
Guys... I think everyone may be a little too hard on Yowetan and should cut him some slack.
Bro Yowetan, good luck on your dream... but make sure you are reading the market right, don't want to sound like Basic but my spidey senses are tingling. Be careful not to turn the dream into a nightmare.
My suggestion is to spend some time travel outside Singapore.
You will suddenly realize there is no need to bet all the resources for a dream.
I was so shocked to see the Indian boys happily playing at Mumbai street - naked, but you can tell they are really happy.
You can spend a few thousands in luxury resorts, and you will find when you are actually stay inside it, it is just a bed to sleep.
Certain dream is best left in the dream.
Thanks,
Richard
I have friend staying at Mt Sinai. She is complaining about the place has "nothing", and is dreaming of landed near Holland V.
Repair/renovation of house has been consistent, however building/construction of a building/house has never been consistent. - Healthcare
You can control the renovation cost but cannot control the construction cost due to other factor(s) where decision(s) are beyond your control. - Education
You are totally wrong on this. Education cost is subsidised and within your control. There are also free tuition for needy students. Healthcare costs can be extremely high..only that you have not experienced it before. As I have said, families have been known to sell their flat to pay for chemotherapy, radiation treatment and expensive drugs just to have that glimmer of hope to remain alive.
As far as hospitals are concerned, they will not keep a patient longer than necessary. Follow up care is either at nursing home, your own home or if no hope, a hospice.
I hope you don't dump your parents at a hospital and disappear, hoping someone will take care of them.
Let's say he manage to get the property by showing hand risking 3 generations..
Chances are high we can predict what will happen eventually...
I am helping to consolidating our humble resources in preparation of what is of today's objective - Getting a Mt Sinai private property.
eh... why die die must get private property? fren, there's a lot of cons leh:
- no more u-save rebates
- least ang-baos, when garmen give goodies
- must spend $$$ to keep up with rich neighbours - i feel so inferior when i drive my old made-in-korea car into carribean carpark (just go to kapo and look see look see, really a lot of expats and swee char bos :D)
- maybe, ok confirm, i just cheapskate... :D
actually, i have a suggestion for you to consider...
- stay in HDB with big big space and no worries (bao-chiak);
- buy another condo for purely investment purpose with positive cashflow (make tenants pay for it, swee swee!)
- if really want to enjoy private property lifestyle, then rent out hdb for 1 year and use the rental to pay for private rental for 1 year to try try?
oh, yes 1 tip for you to get to the root reason of why die die must get private property?
=> ask yourself 3-5 levels of whys...
if asking the whys is too easy and dun work, then try this....
- 1. list out 10 items that's very important to you now...
- 2. from the list strike out the least 5 important ones....
- 3. strike out the next 2 least important ones...
- 4. out of the 3 left, strike out 2 more...
- 5. if it is still the private property, then you should go for it...
the last remaining item on the list may change over time, especially during different stages of our life-cycle (birth-old-sick-die)... :D
good luck and all the best...
buttercarp
10-06-12, 01:22
Depends on car also lah... You drive flashy car?
There was once me and my friend both exceeded timing at car park. He got ticket and I did not. He drives SLK, I drive Jap saloon. Or maybe I was lucky that day...
Nope.... not flashy car (korean assembled car) but a bright coloured car!
No, I don't think it is the make/ colour of the car that attracts the warden, unless she is a bee.
I think they have a target to meet, perhaps?
does it mean can tear coupon up to 10 min ahead? :D
LOL...... perhaps, if you stick your neck out ( i mean literally, and not like what yowetan is thinking of doing) of your car and look around and make sure there is no carpark warden in sight.
Hi bro, pursuing dream is one thing... Dragging the whole family in for risk taking plus depending on garment to take care his parent is anther issue...
Totally disgusted with his selfish behavior...:doh:
bro u just said iron teeth....so dun bother wasting ur time anymore
I think is really nothing wrong to pursue his dream as long as his parents willingly support him. Which parent don't support their kids anyway ? I remember 9 years year when I just started my HDB...my dad loan me $20k for renovation...
As long as Ah Tan (Me also Tan :ashamed1: ) remember them and don't kick them out later will do ba...
Cos we r paying taxes to support leeches that leeched on our resources.
yowetan, you cannot afford it. Period.
I have to laugh when "good character" must be rewarded by token money.
To me that is insult.
If you send your children to "expensive" school and misunderstand it as "good" education, I can only feel sad.
They best way to educate your kids is to show them how to live as INDEPENDENT souls. It doesn't matter whether you are staying in HDB or Private.
Thanks,
Richard
yowetan, you cannot afford it. Period.
The affordability may not be there, however accessibility might be possible.
My family and myself are working on it.
Can Yowetan clarify what someone has pointed out below if he is real?
Sep 2011, Yowetan said he owned 2bedder bought for $700k
http://forums.condosingapore.com/showpost.php?p=193262&postcount=5
Feb 2012, Yowetan said he sold his unit for $800k+
http://forums.condosingapore.com/showpost.php?p=232979&postcount=42
Few days ago, Yowetan HDB flat is in Tiong Bahru..
http://forums.condosingapore.com/showpost.php?p=278137&postcount=3
Can Yowetan clarify what someone has pointed out below if he is real?
The person who has listed out the link has convieniently miss out a few thread/post(s) that I did announce I got the flat during the "structure retrenchment possibility" period.
Again, it would be nice if you have ample time to read through if you are really curious and keen to know about me, myself.
I am here to seek sincere opinions and views; I recieved criticism well however I feel that the moderation of fellow forumers need to be there. There are some who are too emotional and started to call name(s) and cited some unpleasant examples. I can only respect that since this is just a forum.
Not meant to throw insult but better to face the truth than regret n die. looking at the ceiling being raised from 8k to 10k HDB and from 10k to 12k EC, gross income of jus 7k, ignoring tat peanut 2k "stole" from parent, is consider low income. To be blunt, u should use tharman's 1k buy flat scenario and multiply by 7 to work out yr affordable house. U can only afford a less than 600k home.
phantom_opera
10-06-12, 11:36
I dun think any bank dare to lend yowetan more than 900k
I dun think any bank dare to lend yowetan more than 900k
Got. Standard chartered bank
The affordability may not be there, however accessibility might be possible.
My family and myself are working on it.
Everything is accessible. At the moment, for you my friend, it is not and my advice for you is; dream the possible dream.
That is;
1) work hard to pay up your HDB loan,
2) work hard to grow your take-home pay, and
3) stop thinking about using other peoples' money (your parents and in-laws) to fund your egoistic endeavour
Trapping-bird
10-06-12, 14:31
Everything is accessible. At the moment, for you my friend, it is not and my advice for you is; dream the possible dream.
That is;
1) work hard to pay up your HDB loan,
2) work hard to grow your take-home pay, and
3) stop thinking about using other peoples' money (your parents and in-laws) to fund your egoistic endeavour
One month earn 3.5k thinking buying Fh .. Big big dream indeed..
Not meant to throw insult but better to face the truth than regret n die. looking at the ceiling being raised from 8k to 10k HDB and from 10k to 12k EC, gross income of jus 7k, ignoring tat peanut 2k "stole" from parent, is consider low income. To be blunt, u should use tharman's 1k buy flat scenario and multiply by 7 to work out yr affordable house. U can only afford a less than 600k home.
Since he wants to use his parents rental income to help to contribute to his dream and if his parents won't mind, IMHO, if he is the only child and willing to take care of his parents till the last day, then not so bad, afterall, sooner or later his parents money will be his but if he has siblings, especially when his siblings are calculative, then there might have some problem later on. Still same as some of the forummers here, I also think that don't stretch too hard, buy within your means, >$1m ppty is no joke for an average income earners especially when there is still outstanding loan waiting to clear.
Wa.. today sunday times .. also got one case..
The son rebuilt a bungalow ...
The wife proudly proclaims it's like 2 houses in 1 land..
We(the husband and wife) gets 3 bedroom.
While the parents-in-law gets 1+1 room.
The parents bought that landed in the 60s .. if i remembered the report correctly.
The greatest love of all :) Parents... We must really learn to appreciate their efforts to us.
One month earn 3.5k thinking buying Fh .. Big big dream indeed..Thought its $7k plus $2k variable? :rolleyes:
Not meant to throw insult but better to face the truth than regret n die. looking at the ceiling being raised from 8k to 10k HDB and from 10k to 12k EC, gross income of jus 7k, ignoring tat peanut 2k "stole" from parent, is consider low income. To be blunt, u should use tharman's 1k buy flat scenario and multiply by 7 to work out yr affordable house. U can only afford a less than 600k home.Not "stole" lah.. parents willingly give him... he merely accepted their good gesture... :rolleyes:
Well I guess he can certainly afford a $900k house lah, i.e $700k loan (i.e. if he sells the HDB)... :)
Trapping-bird
10-06-12, 17:33
Thought its $7k plus $2k variable? :rolleyes:
7k is household income. He only paid 3.5k
rattydrama
10-06-12, 17:40
should take a wait and see approach. the hdb price is not going to drop alot if the day happens.
7k is household income. He only paid 3.5k
Wa...3.5k income abit low to go for Ec not to mentioned fh. My income is more than double his and even with my wife 2.5k total > 10k also can go 1 x leasehold . Really daring
I think he should just go for a lease hold which is more realistic .
Slowly build up wealth better. If I do the same.. With my parent fully paid hdb for rental income I think also need to think twice.
Wa...3.5k income abit low to go for Ec not to mentioned fh. My income is more than double his and even with my wife 2.5k total > 10k also can go 1 x leasehold . Really daring
I think he should just go for a lease hold which is more realistic .
Slowly build up wealth better. If I do the same.. With my parent fully paid hdb for rental income I think also need to think twice.
Hi. Could you mind sharing with me your age, profession etc profile?
Hi. Could you mind sharing with me your age, profession etc profile?
This is a classic question asked by Ah Tan
http://forums.salary.sg/income-jobs/
http://forums.salary.sg/investments-net-worth/
there are tons of people can answer u this question
No need to compare yourself to others.....
I find such comments uncalled for. His parents want to go all out to help him and his own extended family, why is it a problem with you? :beats-me-man:
I think the problem actually is with you, because you don't have such supportive parents and in-laws to go all out to support you to have better life-style at an earlier age? :o
It is like asking Richard Li to rely on himself rather than depend on his father, start with ZERO capital and work hard for a living, earn from scratch before making big investment rather than borrow $500m from his father straight and turn that into several BILLIONS. :cheers1:
no one is stopping u from pursuing a dream... by all means pls go ahead it's good to set ur sights higher.
but pple in this forum might not be 'picking' on u so much if u rely on yourself to achieve ur own dreams ie not eyeing your parents n in law HDB n e rental income ... but rely on ur own earning power to achieve ur dream
Can't say like that lah.
I will take everything, and turn that multiple fold in several years whereas they can't. :D
That is also the way I deal with leverage, borrow money to the max that banks are willing to lend me to earn more money! :p
It's one thing to give and another thing to accept. Your parents want to give but you can don't accept out of consideration for them.
When I was young, I'll gladly accept everything my parents give me, from food to toys to lodging simply because I don't have the ability to look after myself and don't have any earning power. Today, I have everything needed to look after myself so I will not continue to take from my elderly parents but will instead give them pocket money. Just my humble opinion...
Anyway I don't know your family dynamics so can't comment further.
Dream a dream... :spliff:
I find such comments uncalled for. His parents want to go all out to help him and his own extended family, why is it a problem with you? :beats-me-man:
I think the problem actually is with you, because you don't have such supportive parents and in-laws to go all out to support you to have better life-style at an earlier age? :o
It is like asking Richard Li to rely on himself rather than depend on his father, start with ZERO capital and work hard for a living, earn from scratch before making big investment rather than borrow $500m from his father straight and turn that into several BILLIONS. :cheers1:
You don't mind paying for his parents hospitalization fees, but we mind.
Yes, I mind too.
And when (high chance) he is bankrupt.. and (not just his parents) his children require government aid.. I mind too :tsk-tsk:
Tan is a guy who will exploit any possible loophole for personal benefit.
Trapping-bird
10-06-12, 23:00
You don't mind paying for his parents hospitalization fees, but we mind.
Hi Estella , I am with you.. How he know people don't have supportive parents? He got super power to tell??
I find such comments uncalled for. His parents want to go all out to help him and his own extended family, why is it a problem with you? :beats-me-man:
I think the problem actually is with you, because you don't have such supportive parents and in-laws to go all out to support you to have better life-style at an earlier age? :o
It is like asking Richard Li to rely on himself rather than depend on his father, start with ZERO capital and work hard for a living, earn from scratch before making big investment rather than borrow $500m from his father straight and turn that into several BILLIONS. :cheers1:
This is he thinking of using other people's funds (nevermind if it is parent's or parents-in-law's) so that he can afford a D10 FH property. We, at least most of us here, think it is wrong. He should live within his means.
Again, this whole debacle may be a dud to "play" people's minds. I won't be surprised.
On the other hand I think all if not most of us use other people's funds to afford a property.
This is he thinking of using other people's funds (nevermind if it is parent's or parents-in-law's) so that he can afford a D10 FH property. We, at least most of us here, think it is wrong. He should live within his means.
Again, this whole debacle may be a dud to "play" people's minds. I won't be surprised.
Hi. Could you mind sharing with me your age, profession etc profile?
Hi,
I am IT professional with a degree plus attained highest Inter-Networking Certification in Banking sector. Age with mid 30s with 2 kids. Wife working with a combine income of $130k-135k /year.
Parent HDB fully paid and they are living in their own HDB with me giving them around approx $1400 per month. This is allowance for some of their expenses(dad still working with income ard $1.2k) plus a car installment for ard $540 per month. This work out to be usable allowance of $900 per month.
Me...started off from a 4room HDB back in 2003...sold it after 5 years , move to a cheap condo in far north. Sold it again recently to move near them in AMK purchasing resale LH condo.
I took a loan from my Dad in 2003 to renovate my Jurong HDB and paid him back since.
Because I have 2 kids, 2 aged parent (1 handicapped) hence I didn't dare to go for expensive Condo...
Now after purchasing this LH condo near them.. I should have around 2-3 years reserve for the installment should I lose my job. I think when we plan...we should make sure our action don't become a burden to our family la. However..I respect your choice to pursue your dream... I too have my dream..to own 3 Pte 1 for own stay and 2 for rental before I retire...but ....not easy man...
** Although I am giving my parent allowance...thats just me. No right or wrong for you using their rental to pursue your dream..but I do hope whatever we do we need to know the worst case situation....and try not to let them worry too much....try going LH first la...slowly...then go FH...do within your mean..
Most reasonable thing I have read on this thread so far......
** Although I am giving my parent allowance...thats just me. No right or wrong for you using their rental to pursue your dream..but I do hope whatever we do we need to know the worst case situation....and try not to let them worry too much....try going LH first la...slowly...then go FH...do within your mean..
On the other hand I think all if not most of us use other people's funds to afford a property.
Perhaps you are one of those fortunate ones who can use other people's money. I don't have that luxury. I take loan from banks.
chweegrace
11-06-12, 00:01
Agree. U can climb one step ( lh properties) than climb 3 steps at a time , unstable and carrying so many ppl with u( buying mt Sinai ). If fall down , no injuries is fine , but if fall down with injuries, many ppl may suffer, not only yourself.
U really have consider carefully. Too many factors can affect you and your family.
There is really nothing wrong of buying lh then upgrade to freehold later.
Bank's money are other people's money too
Perhaps you are one of those fortunate ones who can use other people's money. I don't have that luxury. I take loan from banks.
Bank's money are other people's money too
Do I care? I owe the bank and they can sue me if I don't repay. What exactly is your line of reasoning?
Exactly... like Yowetan
Do I care?
Exactly... like Yowetan
Not following. Please explain.
This is he thinking of using other people's funds (nevermind if it is parent's or parents-in-law's) so that he can afford a D10 FH property. We, at least most of us here, think it is wrong. He should live within his means.
Again, this whole debacle may be a dud to "play" people's minds. I won't be surprised.
i don't think can categorise own parents as "other people".
every family has its own dynamics, may not be appropriate for outsiders to comment too much...
bro, cut Yowetan some slack lah... get off your moral high horse, there is no need to be so sanctimonious.
as long as you owe someone money to buy your property/ies (whether it is the bank or your parents) you are not very different from Yowetan.
Do I care? I owe the bank and they can sue me if I don't repay. What exactly is your line of reasoning?
Hi,
I am IT professional with a degree plus attained highest Inter-Networking Certification in Banking sector. Age with mid 30s with 2 kids. Wife working with a combine income of $130k-135k /year.
Parent HDB fully paid and they are living in their own HDB with me giving them around approx $1400 per month. This is allowance for some of their expenses(dad still working with income ard $1.2k) plus a car installment for ard $540 per month. This work out to be usable allowance of $900 per month.
Me...started off from a 4room HDB back in 2003...sold it after 5 years , move to a cheap condo in far north. Sold it again recently to move near them in AMK purchasing resale LH condo.
I took a loan from my Dad in 2003 to renovate my Jurong HDB and paid him back since.
Because I have 2 kids, 2 aged parent (1 handicapped) hence I didn't dare to go for expensive Condo...
Now after purchasing this LH condo near them.. I should have around 2-3 years reserve for the installment should I lose my job. I think when we plan...we should make sure our action don't become a burden to our family la. However..I respect your choice to pursue your dream... I too have my dream..to own 3 Pte 1 for own stay and 2 for rental before I retire...but ....not easy man...
** Although I am giving my parent allowance...thats just me. No right or wrong for you using their rental to pursue your dream..but I do hope whatever we do we need to know the worst case situation....and try not to let them worry too much....try going LH first la...slowly...then go FH...do within your mean..
I like your style...; actually, if u ask parents if they will help out their children like Yowetan parents, majority would say yes unconditionally. However, if timing is bad, and rough times befall, then whole family + parents get drag into hard times. And by then, there is no safety net to fall back on..., see old folks suffer together with u would be a painful sight esp if they need to return to the workforce to help out the household. :2cents:
I like your style...; actually, if u ask parents if they will help out their children like Yowetan parents, majority would say yes unconditionally. However, if timing is bad, and rough times befall, then whole family + parents get drag into hard times. And by then, there is no safety net to fall back on..., see old folks suffer together with u would be a painful sight esp if they need to return to the workforce to help out the household. :2cents:
Yea, I doubt ah Tan will be able to purchase one now anyway, With his income level...he would have a hard time obtaining loan unless he had 300-500k cash now.
Again. All of us have dreams as long as no one is "HURT" during the process... we shouldn't look down or "whack" him/her la.
If Ah Tan parents and in laws is ok with their money to support him...why should we feel painful? High risk = high gain...:tongue3: :tongue3: :tongue3: :doh: :doh: :doh:
Totally agree.... true....
For some people, they live their dreams through their offsprings. Perhaps Yowetan's parents and in-laws have this strong desire to see him and his wife own such properties as part of their own fulfilment... such is their family dynamics.
I personally would not do what he is doing.... but who the hell am I to say that "I mind" what he is doing?
I like your style...; actually, if u ask parents if they will help out their children like Yowetan parents, majority would say yes unconditionally. However, if timing is bad, and rough times befall, then whole family + parents get drag into hard times. And by then, there is no safety net to fall back on..., see old folks suffer together with u would be a painful sight esp if they need to return to the workforce to help out the household. :2cents:
I find such comments uncalled for. His parents want to go all out to help him and his own extended family, why is it a problem with you? :beats-me-man:
I think the problem actually is with you, because you don't have such supportive parents and in-laws to go all out to support you to have better life-style at an earlier age? :o
It is like asking Richard Li to rely on himself rather than depend on his father, start with ZERO capital and work hard for a living, earn from scratch before making big investment rather than borrow $500m from his father straight and turn that into several BILLIONS. :cheers1:
I have always respected ur views and find ur posts very informative ...so abit disappt with ur comment. Before u start commenting abt my parents, I like to clarify that I come from a poor family background n I'm not ashamed to admit that I got to where I am through hard work and of course luck. Though my parents r not well off but they have brought us up the best they can and instill filial piety in us. My semi retired in laws have fully paid shophouses collecting rent and helped us with our initial purchase of vehicle n reno which we have
fully paid bk. If we were to ask them to support us for 3rd ppty initial depo, for same type dat ah tan is eyeing, they can. But we will not do that. It is not wrong to ask your parents for help if they are willing n able but it's not right if u dun pay them bk or even pocket their rental income.
.....at some point Y mentioned he is collecting rental from his parents' HDB, but in recent post he is changing his tune and saying his parents are staying in their HDB....and would be invited to share his PC in event that he buys......maybe he is trying to cover his track in case HDB start to knock on his parents' HDB to check for illegal sub-letting.....( I also remember him saying he needs to have his parents staying with him to babysit when it was suggested that they could also go and work to increase their household income)
In some of his earlier post he enquire about transferring property to his parents' name etc.....i must say he is trying every lope-hole to squeeze profit from the property market...very resourceful fella, and at some point he also mentioned that he has a 260k war chest to buy FV at $1.3M, through all means, borrow and liquidating etc....and in his Mt Sinai initiative he is upping his budget to $1.6M, if he is really going for it.....he must be a real magician to be able to squeeze even more money for his Mt Sinai War Chest.....
haha...I am bored and could not sleep that's why i am digging into his post.....but he is an interesting character....
bro, cut Yowetan some slack lah... get off your moral high horse, there is no need to be so sanctimonious.
as long as you owe someone money to buy your property/ies (whether it is the bank or your parents) you are not very different from Yowetan.
Getting a bank loan through my own credit standing and ability to service that loan is no different from beg, borrow and steal from your parents and in-laws?
I am surprised you said that.
1) I have always said, live within his means. If he has the ability to buy a FH property in D10, previously D15, get the bank to give him the loan.
2) If he already has the backing to give him that loan, then there is no need to publicize that in this forum. Just go get that property if he is certain that he can repay (if there was such an intention in the first place) his parents and in-laws.
It is not about me. It is my view about him and I am free to my opinion since he came to the forum to seek advice. This is a classic example and mentality of pretending to be someone he is not.
....
2) If he already has the backing to give him that loan, then there is no need to publicize that in this forum. Just go get that property if he is certain that he can repay (if there was such an intention in the first place) his parents and in-laws. .........
IMO, his family believe in paying forward.
Getting a bank loan through my own credit standing and ability to service that loan is no different from beg, borrow and steal from your parents and in-laws
I take it you meant to say "different" instead of "no different"....
It is early morning. Please take it easy.
Having said that, I am still determine to get one D10 property.
Getting a bank loan through my own credit standing and ability to service that loan is no different from beg, borrow and steal from your parents and in-laws?
Oops... now it makes sense, I see a question mark... so, it is a question.
I take it you meant to say "different" instead of "no different"....
your comprehension sucks
agree... it sucks...my bad
your comprehension sucks
buttercarp
11-06-12, 09:08
your comprehension sucks
agree... it sucks...my bad
LOL...... yowetan is indeed an interesting character to stir emotions in most of us.
He can be literature and now comprehension material as well.
LOL...... yowetan is indeed an interesting character to stir emotions in most of us.
He can be literature and now comprehension material as well.
I am a typical Singaporean.
The difference between me and the most of the Singaporean is I come to this forum and openly seeking opinions/views/criticism.
Hats off to Yowe Tan for 40+ pages of forum discussing his potential purchase and viability issues.
It's a free market. He can do what he wants but be prepared for consequences if things do not fall neatly according to his imagination or dream. It's possible that he is seeking reassurance and not really acting, just wants to feel the possibility of perhaps being able to afford. Don't take the discussions too hardly.
There are many practical issues which one has to experience to be convinced - advice usually fall upon deaf ears. It's doable, but just because it's doable doesn't mean it has to be done. I am sure he is starting to be aware of the issues.
So let's hope he has the wisdom to make the right decision.
bro, cut Yowetan some slack lah... get off your moral high horse, there is no need to be so sanctimonious.
as long as you owe someone money to buy your property/ies (whether it is the bank or your parents) you are not very different from Yowetan.
Sorry... But I am VERY DIFFERENT from yowetan. I respect that he has the right to choose his way to achieve his dreams. But it is not my way.
It is early morning. Please take it easy.
Having said that, I am still determine to get one D10 property.Good that you are still determined. After so many concerned forummers (not all though) giving advises, I guess you have to taper and plan your path to achieving your dreams... :cheers6: Plan and time properly. Most certainly now is not the best time to enter the housing market if you are only looking to buy... You may finally get there in another 5 to 10 years but can enjoy it more for the remaining 30 years or squeeze in now and then cannot enjoy it because of too much financial worries to weigh you down the next 30 years! :cheers5:
Hats off to Yowe Tan for 40+ pages of forum discussing his potential purchase and viability issues.
It's a free market. He can do what he wants but be prepared for consequences if things do not fall neatly according to his imagination or dream. It's possible that he is seeking reassurance and not really acting, just wants to feel the possibility of perhaps being able to afford. Don't take the discussions too hardly.
There are many practical issues which one has to experience to be convinced - advice usually fall upon deaf ears. It's doable, but just because it's doable doesn't mean it has to be done. I am sure he is starting to be aware of the issues.
So let's hope he has the wisdom to make the right decision.He did not start this thread but ended with so much valuable advices. :spliff:
I am a typical Singaporean.
The difference between me and the most of the Singaporean is I come to this forum and openly seeking opinions/views/criticism.
hats off to you.
you have evolved. I remembered you posted that you cannot sleep because of retrenchment fears, that's why u sell of your ex-condo and bought HDB instead so can sleep easier.
in fact, you are right in realising that fear of retrenchment is irrational and fear of escalating condo prices is more real.
I pat myself on the back for being one of the very first few to encourage you to take the leap and purchase a condo.
I do recognise the latent potential in you.
remember, 1 minutes of signing the OTP would set you on the path to becoming a PC owner, 10 years of researching would make you a very knowledgable but PC-less Singaporean.
Time and tide waits for no man. Take that leap.
I have always respected ur views and find ur posts very informative ...so abit disappt with ur comment. Before u start commenting abt my parents, I like to clarify that I come from a poor family background n I'm not ashamed to admit that I got to where I am through hard work and of course luck. Though my parents r not well off but they have brought us up the best they can and instill filial piety in us. My semi retired in laws have fully paid shophouses collecting rent and helped us with our initial purchase of vehicle n reno which we have
fully paid bk. If we were to ask them to support us for 3rd ppty initial depo, for same type dat ah tan is eyeing, they can. But we will not do that. It is not wrong to ask your parents for help if they are willing n able but it's not right if u dun pay them bk or even pocket their rental income.
I am a bit confused by your statement.
1) ur in-laws have helped you in ur initial purchase and you have paid them back in full
2) u can ask ur in-laws to help with 3rd ppty initial depo and then you continue with "it's not right if u dun pay them bk"
so the confusing parts are:
1) u dont want to borrow from ur in-laws for 3rd ppty because you won't/cannot pay them back?
2) you will/can pay them back, you dont borrow for 3rd ppty because it is not right? but borrow for 1st ppty is ok with you?
I've provided my thoughts to Ah Tan before & have a round of exchange.
If you don't have a big head, don't wear a big hat.
A big hat will block you view.
Consequence is,
You will walk straight into a wall or hit a lamp post.
If you want a big hat, 要等天时地利人和。
I am a bit confused by your statement.
1) ur in-laws have helped you in ur initial purchase and you have paid them back in full
2) u can ask ur in-laws to help with 3rd ppty initial depo and then you continue with "it's not right if u dun pay them bk"
so the confusing parts are:
1) u dont want to borrow from ur in-laws for 3rd ppty because you won't/cannot pay them back?
2) you will/can pay them back, you dont borrow for 3rd ppty because it is not right? but borrow for 1st ppty is ok with you?Not that confusing lah...
1) They don't want to borrow from in laws for 3rd ppty not because they can or cannot, will or will not pay back but more they decided to finance it totally by themselves now that they are more financially indepedent.
2) Don't borrow from in law for 3rd ppty is not about right or wrong but if someone borrows and don't return the money, then its wrong... :cheers6:
I am a bit confused by your statement.
1) ur in-laws have helped you in ur initial purchase and you have paid them back in full
2) u can ask ur in-laws to help with 3rd ppty initial depo and then you continue with "it's not right if u dun pay them bk"
so the confusing parts are:
1) u dont want to borrow from ur in-laws for 3rd ppty because you won't/cannot pay them back?
2) you will/can pay them back, you dont borrow for 3rd ppty because it is not right? but borrow for 1st ppty is ok with you?
we can pay them back but it'll be very taxing on our finances... i rather have a restful sleep per night then worrying every night about all the loans (whether borrow from parent or bank) we still must repay.
Not that confusing lah...
1) They don't want to borrow from in laws for 3rd ppty not because they can or cannot, will or will not pay back but more they decided to finance it totally by themselves now that they are more financially indepedent.
2) Don't borrow from in law for 3rd ppty is not about right or wrong but if someone borrows and don't return the money, then its wrong... :cheers6:
spot on.......
eh... anyone knows why the main character die die must get private property huh? :beats-me-man:
stay in private really so good meh? maybe i sua-ku neber stay in private before coz my family say want big big hdb and near to all amenities...
but hor, when i travel for biz / leisure, got gym and swimming pool in hotel, i also dun go everyday leh... hee... :D
eh... anyone knows why the main character die die must get private property huh? :beats-me-man:
stay in private really so good meh? maybe i sua-ku neber stay in private before coz my family say want big big hdb and near to all amenities...
but hor, when i travel for biz / leisure, got gym and swimming pool in hotel, i also dun go everyday leh... hee... :D
satki to live around the super rich :p
Everyday? Once a quarter also got problem...
eh... anyone knows why the main character die die must get private property huh? :beats-me-man:
stay in private really so good meh? maybe i sua-ku neber stay in private before coz my family say want big big hdb and near to all amenities...
but hor, when i travel for biz / leisure, got gym and swimming pool in hotel, i also dun go everyday leh... hee... :D
Just check that banks don't cover insurance for parents. Only spouse and children are covered. OH NO!!! His parents have zero protection!!!
Everyday? Once a quarter also got problem...
Very true. Me an my family members rarely use condo facilities after 1 year of staying.... Staying at condo is like eating sharkfin...
1st bowl of sharkfin soup, very nice
2nd bow, good to have
3rd bowl, errr... Ok
4th bowl, please... I'm full...
5th bowl, puke.....
6th bowl, flip table, whack ppl....
Just check that banks don't cover insurance for parents. Only spouse and children are covered. OH NO!!! His parents have zero protection!!!
Yes, ur right, there is no bank in Sg offer medical or insurance coverage to the parents of employee. But the banks can offer group medical insurance for the staff to buy to cover their parents but the premium is paid by the staff.
MAS's policy on staff housing loan
"Large corporations, as part of their benefits and remuneration policies, may choose to give housing loans to their employees. MAS has exempted housing loans granted by a bank to its employees from the housing loan rules in order to ensure that banks are not disadvantaged in terms of human resources or talent attraction, and are on a level playing field with these large corporations. However, a housing loan granted by a bank to its employee must be for the purchase of residential property for occupation by the employee in order to be exempted from MAS’ housing loan rules. This policy is uniformly applied to all banks through paragraph 16(a) of MAS Notice 632 to Banks on Residential Property Loans."
MAS's policy on staff housing loan
"Large corporations, as part of their benefits and remuneration policies, may choose to give housing loans to their employees. MAS has exempted housing loans granted by a bank to its employees from the housing loan rules in order to ensure that banks are not disadvantaged in terms of human resources or talent attraction, and are on a level playing field with these large corporations. However, a housing loan granted by a bank to its employee must be for the purchase of residential property for occupation by the employee in order to be exempted from MAS’ housing loan rules. This policy is uniformly applied to all banks through paragraph 16(a) of MAS Notice 632 to Banks on Residential Property Loans."
Thanks Laguna for confirming it.
Also, thanks for reminding some one who works in bank that parents are covered in group insurance as well, not from bank itself.
Having said that, I am gear up for my D10 acquisition.
Thanks Laguna for confirming it.
Also, thanks for reminding some one who works in bank that parents are covered in group insurance as well, not from bank itself.
Having said that, I am gear up for my D10 acquisition.
have you found the seller? 900-1000psft?
have you found the seller? 900-1000psft?
I am still searching for other potential sellers/units and waiting for one seller to reply.
I have had offer one to Ridgewood owner.
Thanks Laguna for confirming it.
Also, thanks for reminding some one who works in bank that parents are covered in group insurance as well, not from bank itself.
Having said that, I am gear up for my D10 acquisition.No need to remind the someone. So u didn't buy any policy for your parents? :D
No need to remind the someone. So u didn't buy any policy for your parents? :D
Nevermind.
The original statement is edited to avoid further blushing.
Nevermind.
The original statement is edited to avoid further blushing.
Too late.
Don't feel like wasting time on u
Very true. Me an my family members rarely use condo facilities after 1 year of staying.... Staying at condo is like eating sharkfin...
....
In fact, >95% of residents in my condo did not use the pools.
But I go to the pools twice a day.....I use the most in the condo
Too late.
So answer is no. So why did u said that your parents n pil are covered by banks foc? Caught u :D
Quite basic to know whether covered or not. Find it quite baffling that one can make such a mistake & openly declare parents are covered..., taking us for Goondo Gurus...:hell-hath-no-fury:
Too late.
Don't feel like wasting time on u
I am just glad you edit the statement to avoid further blushing.
In fact, >95% of residents in my condo did not use the pools.
But I go to the pools twice a day.....I use the most in the condo
Wow, healthy lifestyle.. But have any of your neighbours mistaken u for life guard? :D
Wow, healthy lifestyle.. But have any of your neighbours mistaken u for life guard? :D
would I look like one? definitely not....I am too fat and too old alr.
BTW, no life guard here....
I spend quite a lot of time in the pools for aqua-gym lately as post surgery recovery for non-weight bearing exercises.
would I look like one? definitely not....I am too fat and too old alr.
BTW, no life guard here....
I spend quite a lot of time in the pools for aqua-gym lately as post surgery recovery for non-weight bearing exercises.
Ya, swimming is good exercise..., u got special coaching for these exercise?
In fact, >95% of residents in my condo did not use the pools.
But I go to the pools twice a day.....I use the most in the condo
I have been staying in my condo for >10 yrs but went to the pool <5 times and gym <20 times. :D
Ya, swimming is good exercise..., u got special coaching for these exercise?
The aqu-gym coach is $60 an hour. There are two ang mo women here engage an aqu-gym coach. But I find it too ex, so just see see how they do.
I bot a few books from Amazon, and floatation belt, ankle weight, water dumb-bell, bar, noodle etc...good enough.
Doing about 30x50m a day, and lots of exercise. The pools in my condo are really so lovely, like swimming in gardens.
I think, swimming and aqu-gym are the best for the aged.
Spend less time on Ah Tan...not worth my time.
Looks like this is one of the moral story. Getting the parents and in-laws to rent out their flats and then make use of the rental income to pursue the dream in ppty never come to my mind at all until I come across this thread.
I have come across a few of my friends, BORROW money from their in-laws and slowly paid them back in instalments and not "pocket" their in-law's hard-earn money.
Oh, could it be that Y's parents and in-laws also have a share of the new ppty since they also have "money contributions".
In fact, I am more than willing to foot the first 20% for my children without the needs for them to pay me back afterall, all my money eventually are theirs.
The aqu-gym coach is $60 an hour. There are two ang mo women here engage an aqu-gym coach. But I find it too ex, so just see see how they do.
I bot a few books from Amazon, and floatation belt, ankle weight, water dumb-bell, bar, noodle etc...good enough.
Doing about 30x50m a day, and lots of exercise. The pools in my condo are really so lovely, like swimming in gardens.
I think, swimming and aqu-gym are the best for the aged.
Spend less time on Ah Tan...not worth my time.
Sorry, who's Ah Tan? I keep on seeing his name being mentioned here.
Sorry, who's Ah Tan? I keep on seeing his name being mentioned here.
LOL, MR yowetan, the second most famous man in this forum after MR B
In fact, I am more than willing to foot the first 20% for my children without the needs for them to pay me back afterall, all my money eventually are theirs.
IMHO, there is a difference between the parents who are willing to help the children with his 1st ppty and the children, inorder to get more ppty for himself asked his parents for money.
LOL, MR yowetan, the second most famous man in this forum after MR B
OIC. I can never follow up with all the short form, so suay-ku.:ashamed1:
ikan bilis
11-06-12, 21:13
ummm... don;t bash him lah... is risky but still not reckless....
what would you think if it is same case but inside china ??... ;)
In fact, I am more than willing to foot the first 20% for my children without the needs for them to pay me back afterall, all my money eventually are theirs.
Of course, if property only goes up and doesn't come down, certain types of parents would not mind.
What if there is a moderation some time down the road? Problems with rental or interest hike?
A couple of years of moderation can create huge chaos in the family. Worth it?
I think, swimming and aqu-gym are the best for the aged.
Spend less time on Ah Tan...not worth my time.
:D :D :D :D :D
auntie butter & uncle Laguna...don't spend so much time on the troll like yowetan..
not worth the $$ & time:o
Thanks Laguna for confirming it.
Also, thanks for reminding some one who works in bank that parents are covered in group insurance as well, not from bank itself.
Having said that, I am gear up for my D10 acquisition.
Good that....Your Ordinary Wage Enough To Acquire Now.........
buttercarp
11-06-12, 22:38
auntie butter & uncle Laguna...don't spend so much time on the troll like yowetan..
not worth the $$ & time:o
Hi boy boy roly8, aiyo auntie got lots of time but $$ no enough, but auntie will heed your advice and not nag at uncle tan anymore .:D
Auntie going on holiday.
phantom_opera
11-06-12, 23:22
Last but no least, borrowing from your own employers means your employers may decide to give you less increment and less promotion because you are deemed to benefit already from the bank loan given to u
BEWARE
Would any of forummers' parents here sacrifice themselves the way YT's parents?
Is that the real reason why people against YT because they don't have such loving parents, parents-in-law and a supportive spouse ?
Like some forummer saying property price up by 15% by 2015 in Mr B's thread, yet seems to advise YT not to buy.
Would any of forummers' parents here sacrifice themselves the way YT's parents?
Is that the real reason why people against YT because they don't have such loving parents, parents-in-law and a supportive spouse ?
Like some forummer saying property price up by 15% by 2015 in Mr B's thread, yet seems to advise YT not to buy.
my folks and i are moving into our new place in a couple of months time. and NO, i did not ask my folks to sell their nest home. they will retire and rent out their HDB for a steady income to sustain their lifestyle.
i believe in the mantra "spend within your means". unless mr Tan states that his parents or in-laws stand to benefit from any future capital gains in the new property, then it's a crazy move.
Would any of forummers' parents here sacrifice themselves the way YT's parents?
Is that the real reason why people against YT because they don't have such loving parents, parents-in-law and a supportive spouse ?
Like some forummer saying property price up by 15% by 2015 in Mr B's thread, yet seems to advise YT not to buy.
I'm happy to know that Ah Tan has support from family. But I also recalled he did mention in other thread that he will beg & borrow from friends, relatives and family to realize his dream. And he know that he's stretching to his limits. Everyone can see it's the case from his family incomes and spending. The worst is he is prepared to go bankrupt if things don't work out his way. This clearly indicates that he does not have savings and buffer for crisis & rainy days.
Do you think we should encourage a person to stretch himself all the way to the limit and take such high risk & drag the whole family into it? And the objective of this dream is he wants a space of his own because he feels that hdb is 99yrs and still government owned. You think it make sense financially and from investment POV?
I'm happy to know that Ah Tan has support from family. But I also recalled he did mention in other thread that he will beg & borrow from friends, relatives and family to realize his dream. And he know that he's stretching to his limits. Everyone can see it's the case from his family incomes and spending. The worst is he is prepared to go bankrupt if things don't work out his way. This clearly indicates that he does not have savings and buffer for crisis & rainy days.
Do you think we should encourage a person to stretch himself all the way to the limit and take such high risk & drag the whole family into it? And the objective of this dream is he wants a space of his own because he feels that hdb is 99yrs and still government owned. You think it make sense financially and from investment POV?
in my personal standpoint, no. i don't need my parents to get burnt for my dreams.
anyway, it's not that he can't fulfill his dream. how about taking a few more years to work and save up for that dream?
in my personal standpoint, no. i don't need my parents to get burnt for my dreams.
anyway, it's not that he can't fulfill his dream. how about taking a few more years to work and save up for that dream?
yes.
what mr YW tan is doing is all based on greed!
greed have no boundary!!! :D:D:D
so far none of the replies has replied to the extent.
"yes, my parents will sacrifice to the extent like YT's parents".
a lot of sidestepping involve like, "i would never ask my parents to do so". "My income is sufficient etc".
when push comes to shove like in YT's case, would your parents sacrifice?
how sure are you?
or for that matter, how many of us here would sacrifice for our children?
i would guess that not many of our parents would do the same for us, nor would we do the same for our own children, which would lead to the anti-YT sentiments about him using his parents' income, not giving them pocket money etc.
so far none of the replies has replied to the extent.
"yes, my parents will sacrifice to the extent like YT's parents".
a lot of sidestepping involve like, "i would never ask my parents to do so". "My income is sufficient etc".
when push comes to shove like in YT's case, would your parents sacrifice?
how sure are you?
or for that matter, how many of us here would sacrifice for our children?
i would guess that not many of our parents would do the same for us, nor would we do the same for our own children, which would lead to the anti-YT sentiments about him using his parents' income, not giving them pocket money etc.
Mr Hopeful, I guess you missed the point.
In general (not referring to anyone here), if parents know that what the son is taking too high risk, the right way to do is ask him to reconsider & wait for a few more years. If parents blindly help the son to fulfill his dream even though they are not rich & wishfully think that everything will be ok, this is call 溺爱。It will not do any good for the son & the whole family. The son will be spoilt & will think that this is what parents should do for him. My friend, the parents don't own the son a PC.
Many pointed out that even if their parents want to help them to get a PC, they do not need it. This is because they do not see the need for this. We are all adults not youngsters anymore. Why still need to depend on parents because of a dream.
Why do you think that YoweTan must buy a FH/999 PC today?
You also agree that he don't have his own space because he lives in a HDB?
Only by buying a FH/999 PC, then he has his own space?
He must take the high risk now even though he cannot afford it?
Maybe they sld get Yoweey to watch the Susie Orman show on CNBC...
the "can I afford it" segment...
Susie Orman will set his trolling arse straight, that's for sure.
Mr Hopeful, I guess you missed the point.
In general (not referring to anyone here), if parents know that what the son is taking too high risk, the right way to do is ask him to reconsider & wait for a few more years. If parents blindly help the son to fulfill his dream even though they are not rich & wishfully think that everything will be ok, this is call 溺爱。It will not do any good for the son & the whole family. The son will be spoilt & will think that this is what parents should do for him. My friend, the parents don't own the son a PC.
Many pointed out that even if their parents want to help them to get a PC, they do not need it. This is because they do not see the need for this. We are all adults not youngsters anymore. Why still need to depend on parents because of a dream.
Why do you think that YoweTan must buy a FH/999 PC today?
You also agree that he don't have his own space because he lives in a HDB?
Only by buying a FH/999 PC, then he has his own space?
He must take the high risk now even though he cannot afford it?
so far none of the replies has replied to the extent.
"yes, my parents will sacrifice to the extent like YT's parents".
a lot of sidestepping involve like, "i would never ask my parents to do so". "My income is sufficient etc".
when push comes to shove like in YT's case, would your parents sacrifice?
how sure are you?
or for that matter, how many of us here would sacrifice for our children?
i would guess that not many of our parents would do the same for us, nor would we do the same for our own children, which would lead to the anti-YT sentiments about him using his parents' income, not giving them pocket money etc.
whether our parents will sacrifice or not is immaterial. even if they volunteered, i would say 'no thanks'. the issue is at hand is whether we would exploit our parents' generousity to fulfill our dreams, even at the risk of rendering them financially strapped.
i believe all or most of us are driven to invest, be it property or other instruments, because of the need to grow our worth or for our kids. or else, we will just be contented to leave cash idling in our savings account.
Sleepyhead
12-06-12, 13:24
if my parents give me money i surely will take! :D :D :D
..........
Many pointed out that even if their parents want to help them to get a PC, they do not need it. This is because they do not see the need for this. We are all adults not youngsters anymore. Why still need to depend on parents because of a dream.
Why do you think that YoweTan must buy a FH/999 PC today?
You also agree that he don't have his own space because he lives in a HDB?
Only by buying a FH/999 PC, then he has his own space?
........
the thing is if YT has said his income is 9k total instead of saying 7k+2k (rental of parents' hdb), the forummers' response will be less personal against him, it would be more like an academic exercise for us.
again, nobody answered the question directly, lots of sidestepping, if push comes to shove, no ifs, no buts, would our parents sacrificed themselves for us? or would we for our children?
My parents wont do that for my siblings nor would i for my children. standard response being, "i already give you a good education."
and yes, i am envious of YT for having such parents but not envious of his financial situation.
he dont want HDB nor 99yr private property because it is leasehold.
i would imagine if HDB is 999, YT would go for the HDB.
It is not a matter of private space or not, it is a matter of leaving something for the children (hopefully not bankruptcy for the kids)
This kind of moral situation, very hard to answer.
whether our parents will sacrifice or not is immaterial. even if they volunteered, i would say 'no thanks'. the issue is at hand is whether we would exploit our parents' generousity to fulfill our dreams, even at the risk of rendering them financially strapped.
.......
the question is:
1) are our parents like YT's parents in the 1st place?
2) can we be like YT's parents to our own kids, if there comes a time when our kids (like YT) come asking us for funds, at the risk of rendering us financially strapped, to fulfill their dreams?
btw, if our parents not sacrificing enough, the point is moot about us exploiting our parents' generosity to fulfill our dreams.
dont you think that YT is playing it safe in that, in that he has HDB, his parents has HDB (fully paid) ?
so what if he go bankrupt?
he definitely has to sell his private property.
other than that?
1) can creditors possess his parents HDB flat? no. if they died, their flat goes to him and he has to sell it, will the proceeds go to the creditors? anybody knows?
2) can creditors possess YT's HDB flat?
yes, if take private bank loan and creditor happen to be banks.
no, if take HDB loan.
I stand corrected if i turns out to be wrong.
the thing is if YT has said his income is 9k total instead of saying 7k+2k (rental of parents' hdb), the forummers' response will be less personal against him, it would be more like an academic exercise for us.
again, nobody answered the question directly, lots of sidestepping, if push comes to shove, no ifs, no buts, would our parents sacrificed themselves for us? or would we for our children?
My parents wont do that for my siblings nor would i for my children. standard response being, "i already give you a good education."
and yes, i am envious of YT for having such parents but not envious of his financial situation.
he dont want HDB nor 99yr private property because it is leasehold.
i would imagine if HDB is 999, YT would go for the HDB.
It is not a matter of private space or not, it is a matter of leaving something for the children (hopefully not bankruptcy for the kids)
This kind of moral situation, very hard to answer.
Let me ask you a simple question. YT already staying in a hdb. He want to buy PC because of wanting yo have "a space of his own". Why you keep thinking that the parents should sacrifice themselves to help him to own this space of his own?
You think it's so important for YT to own a PC? Will he has sleepless nights without one? Will he becomes depressed without one? What's so important about living in FH/999 PC?
If you're telling me he is sleeping on the roadside now, then the parents have every valid reason to help him. I will not sacrifice myself to help my child if they come to me to help them "have their own space because hdb is 99yrs". I'll give them a piece of my mind.
and pls don't argue for the sake of arguing.
First, somebody started this thread for YT. Then forummers started blasting YT and offered loads of advices. Then forummers started addressing one another's opinions... wow! Have a glass of water and chill! :cheers1:
the question is:
1) are our parents like YT's parents in the 1st place?
2) can we be like YT's parents to our own kids, if there comes a time when our kids (like YT) come asking us for funds, at the risk of rendering us financially strapped, to fulfill their dreams?
btw, if our parents not sacrificing enough, the point is moot about us exploiting our parents' generosity to fulfill our dreams.
let me paraphrase your questions
1. why can't our parents be like YT's? you are too quick in assuming that no other parents in the world are as self-sacrificing
2. why can't we sacrifice for our kids? how many of us have invested in our children's insurance and education funds when they can even barely walk or talk? for one, my parents scrimped and saved to put my sis and i through tertiary education, and i deem that as sacrificing enough.
Hi all..Please take it easy and chill down.
This is my personal choice, and it is not a matter of filial piety or whatsover whichever whatever matters.
I am just getting Mt Sinai for it is a place for me, my family and my future generation.
I just have the vision and foresight that Mt Sinai will be a good place for many of my family generation(s).
As correctly pointed out by several forumers, I have some area(s) covered and exposed as well. I am taking a risk, however a calculated one. People may disagree and agree however we ought to be inclusive and learning to be tolerance of different ideas and philiosophy.
Again, cool down and bash me if you like - I am still going ahead with my Mt Sinai private property hunting.
Again, cool down and bash me if you like - I am still going ahead with my Mt Sinai private property hunting.
happy house hunting... how is the viewing/s so far ?
happy house hunting... how is the viewing/s so far ?
Searching is in the progress.
Offer was made, and rejected. Seller looking at 12++psf. I am only offering 1000psf.
TheOnlyGayInTheVillage
12-06-12, 18:54
First, somebody started this thread for YT. Then forummers started blasting YT and offered loads of advices. Then forummers started addressing one another's opinions... wow! Have a glass of water and chill! :cheers1:
Lively debate alwiz good!!
TheOnlyGayInTheVillage
12-06-12, 18:56
Searching is in the progress.
Offer was made, and rejected. Seller looking at 12++psf. I am only offering 1000psf.
Did u issue a cheque? Like that waste a lot of cheques leh. Why not ask the seller agent what price can try.
Did u issue a cheque? Like that waste a lot of cheques leh. Why not ask the seller agent what price can try.
$0.30 per chq more chance as it is always shown as more sincerity...lol
I will do that if I am low balling... ke ke ke.. don't let the seller think too much... just get agent to whack hard and sign the OTP
good try ah Tan!
$0.30 per chq more chance as it is always shown as more sincerity...lol
I will do that if I am low balling... ke ke ke.. don't let the seller think too much... just get agent to whack hard and sign the OTP
good try ah Tan!
I can only say both the buyer and seller agents will not entertain any unrealistic offer.
Did u issue a cheque? Like that waste a lot of cheques leh. Why not ask the seller agent what price can try.
I can afford the cheque, since I work in the bank. Cheque unlimited supply.
I did checked with the housing agent, and he suggested me to try with a cheque though.
Dont force too much,
what your is your ....fate, destiny and luck do play a part.
I am also looking for 2nd ppty
but not at this peak price, maybe late 2013 ...no rush.
Insured to protect your assets and loved ones.
invest to grow it, and invest in your kids.
Step by step, you will reach the goal
I can afford the cheque, since I work in the bank. Cheque unlimited supply..
I am not working in a bank, also have unlimited supply of cheque FOC.
But I cannot afford to write a cheque if lack of vitamin M in the accounts.
I am not working in a bank, also have unlimited supply of cheque FOC.
But I cannot afford to write a cheque if lack of vitamin M in the accounts.
Different people, different way of doing things.
Agent showing signs of desperation by suggesting buyer low ball 17% below seller's price.
I can afford the cheque, since I work in the bank. Cheque unlimited supply.
I did checked with the housing agent, and he suggested me to try with a cheque though.
Agent showing signs of desperation by suggesting buyer low ball 17% below seller's price.
I am not surprise. I am also foresee a further reduction to 9xxpsf for Mt Sinai and correction will remains at status quo.
Again, I am base on my feeling. There is not concrete data or whatsover analysis to back my above statement. I am flagging Mt Sinai for I have a vested interest in that area.
Mt Sinai at 9xxpsf?... I am not so sure....
I am not surprise. I am also foresee a further reduction to 9xxpsf for Mt Sinai and correction will remains at status quo.
Again, I am base on my feeling. There is not concrete data or whatsover analysis to back my above statement. I am flagging Mt Sinai for I have a vested interest in that area.
Mt Sinai at 9xxpsf?... I am not so sure....
I am holding that belief and faith it will.
Yes...anything is possible... but when?
when/if it does, are you in the cycle to jump in?
I am holding that belief and faith it will.
Yes...anything is possible... but when?
when/if it does, are you in the cycle to jump in?
Yes. I am ready and raring to jump once the window (9xx-10xxpsf) comes.
I can only say both the buyer and seller agents will not entertain any unrealistic offer.
Whoever agent acting for seller to sell at such price need to be shot! :gun4:
But you don't know when that window is...
It could be 5yrs or 50 yrs from now... like that how?... wait indefinitely?... is that a good plan?
Yes. I am ready and raring to jump once the window (9xx-10xxpsf) comes.
phantom_opera
12-06-12, 20:46
This forum really cute, this thread brings out all kind of people
1. People who are jealous of yowetan
2. People who pass moral judgement about yowetan risking his parents' future into his bet
3. People who want yowetan to quickly buy as they themselves are vested
4. People who are tcss and want to see what is next for yowetan, may be his story will be published later as the HEROIC story "The road to Mt Sinai by Yowetan" or forever quoted as a typical Singapore LOSER
5. People who are suspicious that yowetan is only a dog in Internet or split personality of Mr Basic
Of course， yowetan is very motivated now:
人生自古谁无死，留取FreeHold照汗青
:cheers5:
agents don't really care as long as there is a deal and they get a cut.
the good agents(ie. good for themselves) learn to read the seller and the seller's circumstance, when they detect a bit of "buay zhai" in the seller they will work against the seller.
I can only say both the buyer and seller agents will not entertain any unrealistic offer.
But you don't know when that window is...
It could be 5yrs or 50 yrs from now... like that how?... wait indefinitely?... is that a good plan?
I guess it is not just waiting or chancing upon the window, but making an effort to search as well?
I have search Mt Sinai area since early year, and was sad to see the price actually goes a little up then. Having said that, such inflation is falsely inflated as there is no demand for this whatsover push in price.
I always constantly believe in great faith that there bound to have some great deals, I just have to search harder. 9xx-10xx psf is achievable, and I have personally seen and/or hear agent who is a seller selling below price. They just want to move on.
This forum really cute, this thread brings out all kind of people
1. People who are jealous of yowetan
2. People who pass moral judgement about yowetan risking his parents' future into his bet
3. People who want yowetan to quickly buy as they themselves are vested
4. People who are tcss and want to see what is next for yowetan, may be his story will be published later as the HEROIC story "The road to Mt Sinai by Yowetan" or forever quoted as a typical Singapore LOSER
5. People who are suspicious that yowetan is only a dog in Internet or split personality of Mr Basic
Of course， yowetan is very motivated now:
人生自古谁无死，留取FreeHold照汗青
:cheers5:
I am marvel by your observation and critics though, when you are actually one of the above categorize gentleman/woman.
My main objective and motivation is to get one Mt Sinai private property and call it MY HOME.
Sleepyhead
12-06-12, 20:57
I think Yowetan should go for it.
At worse, if he cannot sustain the PC Mt Sinai dream, then he can sell and move back to his HdB, no worse of than now.
At best, he achieves his dream, and starts building up his nest egg in the form of rental income from the HdB.
His parents can see that.... So that's why they are all for it too?
IMHO you are on the right track by looking at resale properties and doing your research.... there are better opportunities in resale
Its possible that there may be 1 or 2 desperate sellers.... up to your fortune and vigilance to see if you can catch it.
I won't wish you good luck because you are my competitor.
I guess it is not just waiting or chancing upon the window, but making an effort to search as well?
I have search Mt Sinai area since early year, and was sad to see the price actually goes a little up then. Having said that, such inflation is falsely inflated as there is no demand for this whatsover push in price.
I always constantly believe in great faith that there bound to have some great deals, I just have to search harder. 9xx-10xx psf is achievable, and I have personally seen and/or hear agent who is a seller selling below price. They just want to move on.
I think Yowetan should go for it.
At worse, if he cannot sustain the PC Mt Sinai dream, then he can sell and move back to his HdB, no worse of than now.
At best, he achieves his dream, and starts building up his nest egg in the form of rental income from the HdB.
His parents can see that.... So that's why they are all for it too?
I have had a long chat and strategy plan out with my parents early this year.
The idea is to stay together, and instil a cultural cohesion that will benefit:
1. Family cohesion, and instil a good value to my growing kids that staying under one roof is the trend and way to go.
2. Consolidation of financial resources AND liabilities - we can easily pooled our resources and channel into a funnel and streamline our expenditures to better manage our liabilities. Cost effect analysis, and reducing the dilution effect of dollar(s) when the same or lesser amount can yield similiar or more benefits and returns. Example, we can buy 10SGD worth of food, and have my parents cook and in-return we have a good meal and we are not wasting any food. Cleaning of bowls and processing of dishes and food will also limited to per household instead potentially two or more household. Same goes to electrical appliances etc - sharing of one TV, washing machine and many more.
3. Living together will brings lower-tax, as initiated by the government I got to enjoy full 14k tax rebates which effectively cancelling out my levy to the government.
4. Clean house with free guard(s) - my family will be neat and span while my wife are out generating income revenue. My parents on the other hand will help to look after our kids and keep our house clean.
5. Simple lifestyle yet enriching.
We sat down and review the possibilitie(s) and the challenge(s). My parents are already old and I can never assure their health status. As mentioned in post 2xx (which I dun wish to embarass someone who quick to shoot me) that I have bought an extended family insurance plan at under 25SGD to ensure our family are protected.
The idea of bankruptcy myself as I am already 35 year old, and it is really do or die. I do not advocate nor believing 5-10 years later, I will be well to take on the plunge and capitize the market then. No, I do not time the market nor keen for I am not an investor but a house keeper. I want to buy, and keep it for my generation(s) ahead.
I like to plan and that's why I see 4-5 years ahead; I wish to provide them a basic gateway and a foundation where my kids can grow up in a conducive environment and an opportunity to network with children from diverse background which HDB might not able to offer at the moment. Good primary school is not just about education, but offers an opportunity for my kids to know, understand and mix around a diverse group of pupils, especially those whose family and parents are foreign talent(s). Opportunities are abundant and better compared to HDB stay.
Having said that, it is not all these that pushes me to go for a Mt Sinai property but as a whole - holistically I feel the place is a good greenary and I reckon any urbanization will be introduce there as there is a green corner behind Glentree site. This green corner is endorsed by the government. HDB unlike Mt Sinai, is just a urban concrete and it looks like a maze which only introduces oppression and suppression. Look at punggol from a statellite/bird eye view. It is highly developed maze.
As much as the debate(s) goes in the forum, I admit I am making a big risk, however is a calculated risk. Like what I have had said, I am prepare to broke myself and declare as a bankruptcy. It is nothing to me as I am already 35 year old and I am raring to try and push for it.
Why do I push for it? To begin with - I have nothing to lose, unlike many elites who holds multiple properties, lady who owns a property at young age, and a 21 year old daughter who earns >9k per month. Again, I just quoted them as an example that there are many elites and better ones out there.
I don't compare with the above elites or whatsover person(s). I just make sure my kids will be one of them. How to make it? I just push it.
My parents push for me, I push for my children.
Filial piety? I never expect my children to give anything to me, when I decided to have them in my life. I don't talk high moral values but essential values to keep a human alive, especially in a brick and mortar society i.e. Singapore.
IMHO you are on the right track by looking at resale properties and doing your research.... there are better opportunities in resale
Its possible that there may be 1 or 2 desperate sellers.... up to your fortune and vigilance to see if you can catch it.
I won't wish you good luck because you are my competitor.
We are different, not competitors.
What pleasing to you may not please me. So, we ought to share lobang if you or/and me happen to cross sword in Mt Sinai market. Not to worry, my budget is tight.
phantom_opera
12-06-12, 21:29
...
As much as the debate(s) goes in the forum, I admit I am making a big risk, however is a calculated risk. Like what I have had said, I am prepare to broke myself and declare as a bankruptcy. It is nothing to me as I am already 35 year old and I am raring to try and push for it.
Since you admit is very risky, very simple, have you ever told your wife and your parents that your family collectively, might go broke (or may suffer huge loss) by having this bet. Just tell them to imagine, this year is 1996 b4 SOROS attacked Thai Baht ...and u make this fateful decision to UPGRADE and increase your leverage by 3-4X
YES OR NO ...
here lies the key between PRUDENT and RECKLESS, MORAL or IMMORAL, WISE or IDIOT
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