View Full Version : if you retired n all alone
assuming you are retired. No children except siblings. Have a 5 rmpt block hdb at toa payoh. Still have loan outstanding of 170,000.
last valuation 580000.approx.
would going for a one bedder 30yr lease for 80k make sense n cash out on the capital gains?
Rent out the 5 room and stay in a studio apartment.
assuming you are retired. No children except siblings. Have a 5 rmpt block hdb at toa payoh. Still have loan outstanding of 170,000.
last valuation 580000.approx.
would going for a one bedder 30yr lease for 80k make sense n cash out on the capital gains?
depends on age and if cash flow is a problem. If not a problem then no reason to. unless want to downgrade .. and u know what u are going to do with ur cash i.e. not go on a holiday! but maybe a annuity or something.
can buy studio meh if currently have another hdb...?
using 2nd timer scheme?
can buy studio meh if currently have another hdb...?
using 2nd timer scheme?
answer is NO!!! its for those in need. not for u double timing! ;)
Must sell existing HDB within 6mths.
think i will cash out.
val=590k plus COV 110k(modest)
total=700k
minus 170k = 530k cash out
use 80 k for studio left 450k, can 450k buy a mm and rent out? If yes, then u hv passive income n a studio to stay.
think i will cash out.
val=590k plus COV 110k(modest)
total=700k
minus 170k = 530k cash out
use 80 k for studio left 450k, can 450k buy a mm and rent out? If yes, then u hv passive income n a studio to stay.
u cant rent it out. u can rent out the PC mm though. stay hdb studio collect rental from the MM studio thats is allwoed.
u cant rent it out. u can rent out the PC mm though. stay hdb studio collect rental from the MM studio thats is allwoed.
heehee, dats wat i meant.:D
auroraborealis
19-11-12, 13:34
but must wait for 5yr mop to pass still rite??
u cant rent it out. u can rent out the PC mm though. stay hdb studio collect rental from the MM studio thats is allwoed.
Got wife right? Ask her what she wants and make her happy :cheers1:
Rent out the 5 room and stay in a studio apartment.
Don't rent out the whole flat, rent out a couple of rooms and keep the master bedroom for yourself
Retired at wat age?
retired at 62. Part time teaching. Not much cash- approx 30k
Don't rent out the whole flat, rent out a couple of rooms and keep the master bedroom for yourselfThat depends if you are comfortable staying with strangers walking around your living room everyday... :scared-3:
retired at 62. Part time teaching. Not much cash- approx 30kAsk yourself some important questions...
1. Can you wait 5 years MOP? If can, then someone already offered the best(est) solution. Get the 30yr lease HDB, invest about $480k. After 5 years, say you modestly gained another $50k, use the $530k to buy an MM (hopefully prices would have corrected by then).
2. If cannot wait 5 years MOP, then ask if you can stand having strangers walking around your house. If can, then don't sell HDB, but rent out 2 rooms and get about $900 to $1100 monthly income (depending on your location). Can live very decently. This is the 2nd best(est) solution.
3. If cannot have people walking around your house with you around, then ask yourself if you can stay outside your own house? If yest, here is the 3rd best(est) option. Rent out whole HDB for about $2.5k to $3k (again depending on location). Go rent a 2 rm hdb for about $1.5k. Live on monthly income of about $1k to $1.5k. Although its like option 2 in terms of income but nothing beats staying in one's own house so this is deemed the 3rd best(est) option.
4. If cannot live outside your own house, then here is the 4th best(est) option. Put the $30k cash into cpf annuity and get about $300/mth (estimate only). Work till retirement (say 65 years old) and save as much more as you can and then live on that saving plus cpf annuity.
Of course there are many other options so key is to ask yourself those crucial questions and permutate those options to the best of your comfort. :cheers5:
assuming you are retired. No children except siblings. Have a 5 rmpt block hdb at toa payoh. Still have loan outstanding of 170,000.
last valuation 580000.approx.
would going for a one bedder 30yr lease for 80k make sense n cash out on the capital gains?
One question , do u need the big amount of cash at hand ? If for the reason of medical treatment or simply u want to enjoy life . ?
For buying a 1 bedder with o/s loan, if your medical is ok and nn exclusion , go for loan with home protection insurance..
Ask yourself some important questions...
1. Can you wait 5 years MOP? If can, then someone already offered the best(est) solution. Get the 30yr lease HDB, invest about $480k. After 5 years, say you modestly gained another $50k, use the $530k to buy an MM (hopefully prices would have corrected by then).
2. If cannot wait 5 years MOP, then ask if you can stand having strangers walking around your house. If can, then don't sell HDB, but rent out 2 rooms and get about $900 to $1100 monthly income (depending on your location). Can live very decently. This is the 2nd best(est) solution.
3. If cannot have people walking around your house with you around, then ask yourself if you can stay outside your own house? If yest, here is the 3rd best(est) option. Rent out whole HDB for about $2.5k to $3k (again depending on location). Go rent a 2 rm hdb for about $1.5k. Live on monthly income of about $1k to $1.5k. Although its like option 2 in terms of income but nothing beats staying in one's own house so this is deemed the 3rd best(est) option.
4. If cannot live outside your own house, then here is the 4th best(est) option. Put the $30k cash into cpf annuity and get about $300/mth (estimate only). Work till retirement (say 65 years old) and save as much more as you can and then live on that saving plus cpf annuity.
Of course there are many other options so key is to ask yourself those crucial questions and permutate those options to the best of your comfort. :cheers5:
Good train of thoughts n analysis.:cheers4:
Powered by vBulletin® Version 4.2.2 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.