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Thread: Leasehold Vs 999

  1. #1
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    Default Leasehold Vs 999

    Keen in 2 projects(Resale) but not sure which one I should go for.
    Any kind soul here for final advise before option fees paid?

    1. Season Parks (Lease left 82 years)
    Location is above average though not directly next to MRT (7-10mins walk)
    School next to it
    High Floor
    Price 1M
    Size 12xx 3 +1

    2.Grande Vista (999 Years starting from 1993) and approx 1 km apart from above
    Location quite exclusive with those landed along yio chu kang road
    School same as above but slightly more than 1km so going to 2nd phase ballot only...
    Low floor
    Price 1.07-1.09M
    Size 12xx 3 + 1


    Which one would you choose (For reference nia as I know utilimately it has to be myself) Personally I do like SP abit more but leasehold...
    This is for own stay

  2. #2
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    both are called leasehold.

    as long as there is a number of years to the tenure - it's a LH.

    I would go for 999

  3. #3
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    Quote Originally Posted by House
    both are called leasehold.

    as long as there is a number of years to the tenure - it's a LH.

    I would go for 999
    Yes, I'll go for 999 too, especially since SP left 82 years and not a fresh lease.

  4. #4
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    My good friend bought SP at launch in 1997 for almost $800k. At that time, SP was very hot.. People queuing up to buy. Even at high price, it was sold out in days.

    Over the years, newer and better condos came up. Asian crisis also came about. Market started heading south. SP could not be rented out. Price dropped to $500k at one point.

    Anyway, long story short, my friend managed to sell SP recently at approx $1m. On paper, he made profit of $200k... But if you factor in inflation, my friend lost $100-$200k, not yet counting the months and years where it could not rent out!

    Luckily my friend had holding power. Imagine if due to not being able to rent out, had to force sell... Sure lose big time.

    My friend has said to me many times... Never ever buy leasehold. That's why I think recent high profile launches such as Sky Habitat etc... May well suffer the same fate.

    Of course, my friend bought as investment... You are buying for own stay... Different considerations....

  5. #5
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    i have a diff opinion. It is all about timing. Those who bought at $500k will pocket $500K. Its all about timing and relativity.... If today SP is $800K and the GV of the same size is at $1.4mil, do you think ppl will still go for SP? It all depends, many factors. And when the gap widen between the LH & FH of the same area, they will narrow it by the market force....

    Quote Originally Posted by Sleepyhead
    My good friend bought SP at launch in 1997 for almost $800k. At that time, SP was very hot.. People queuing up to buy. Even at high price, it was sold out in days.

    Over the years, newer and better condos came up. Asian crisis also came about. Market started heading south. SP could not be rented out. Price dropped to $500k at one point.

    Anyway, long story short, my friend managed to sell SP recently at approx $1m. On paper, he made profit of $200k... But if you factor in inflation, my friend lost $100-$200k.

    My friend has said to me many times... Never ever buy leasehold. That's why I think recent high profile launches such as Sky Habitat etc... May well suffer the same fate.

    Of course, my friend bought as investment... You are buying for own stay... Different considerations....

  6. #6
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    Any more views?

    Should I go HDB first then come back 5 years from now? LOL.

  7. #7
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    Is this for school? If it is Anderson primary, there are other condos within 1 km.

  8. #8
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    Go for 999. Also bigger land and big land is always good when it comes to enbloc in the future.

  9. #9
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    Quote Originally Posted by Pynchmail
    Go for 999. Also bigger land and big land is always good when it comes to enbloc in the future.
    Why is big land better for enbloc?

  10. #10
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    Quote Originally Posted by crystech
    Any more views?

    Should I go HDB first then come back 5 years from now? LOL.
    I hope my views can help you out....
    Assuming that you are already fix on the location.

    I can give you one real life eg. When a friend of mine was looking for a place to stay in Jurong, he viewed hdb & condo. That time, getting a condo is within his budget but of cost,there is alway question of risk and so on. Therefore, He decided to fully paid his hdb instead. If you ask me now, I can tell you He regretted....He regretted not wanting to take loan and he regretted not taking risk.

    4rm = 230k then, today 430k.
    Parc Oasis = 450k then today 900k (smilar size to hdb about 1100sqft)
    And if u throw in more, westville (99lh landed) = 850k then today 1.4mil

    Do your own calculation and if you can afford, go for it. Assuming the market is still good in 5yrs time

  11. #11
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    I would go for HDB first and come back 2 years later

  12. #12
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    Quote Originally Posted by silver023
    I would go for HDB first and come back 2 years later
    How to come back in 2 yrs if the MOP is 5 yrs?

  13. #13
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    Quote Originally Posted by bakasa2002
    How to come back in 2 yrs if the MOP is 5 yrs?
    Use father mother grandma dog cat 's name to buy

  14. #14
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    Rules may change (I'm being optimistic)... but there's always more than 1 way to skin a cat
    Last edited by silver023; 21-05-12 at 18:14.

  15. #15
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    For own stay isn't location more important for a term like 10years? 999 or freehold seem tempting but many I seen have rather poor location...

    Assuming I want my boy to study a primary school and bought a LH which is <1
    Km from it. Is it worth?

  16. #16
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    Quote Originally Posted by lajia
    I hope my views can help you out....
    Assuming that you are already fix on the location.

    I can give you one real life eg. When a friend of mine was looking for a place to stay in Jurong, he viewed hdb & condo. That time, getting a condo is within his budget but of cost,there is alway question of risk and so on. Therefore, He decided to fully paid his hdb instead. If you ask me now, I can tell you He regretted....He regretted not wanting to take loan and he regretted not taking risk.

    4rm = 230k then, today 430k.
    Parc Oasis = 450k then today 900k (smilar size to hdb about 1100sqft)
    And if u throw in more, westville (99lh landed) = 850k then today 1.4mil

    Do your own calculation and if you can afford, go for it. Assuming the market is still good in 5yrs time
    is easy to horse back cannon. why don't u said whack uob or dbs shares when they were <$2.

    i thk his bottomline is he is able to sleep peacefully all these days. Cheers!

  17. #17
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    Quote Originally Posted by ezonme
    is easy to horse back cannon. why don't u said whack uob or dbs shares when they were <$2.

    i thk his bottomline is he is able to sleep peacefully all these days. Cheers!
    I offer my views and calculation and risk accessment has to be done by oneself to get LH or 999 or ...
    Hahaha... if sleep peacefully is the key objective then simple just get something he can fully paid for: )

  18. #18
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    How to sleep peacefully till old if not enough to retire since asset won't grow?

    Quote Originally Posted by ezonme
    is easy to horse back cannon. why don't u said whack uob or dbs shares when they were <$2.

    i thk his bottomline is he is able to sleep peacefully all these days. Cheers!

  19. #19
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    Quote Originally Posted by felicia_sg
    How to sleep peacefully till old if not enough to retire since asset won't grow?
    zhi chu chang lei....

  20. #20
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    Quote Originally Posted by crystech
    For own stay isn't location more important for a term like 10years? 999 or freehold seem tempting but many I seen have rather poor location...

    Assuming I want my boy to study a primary school and bought a LH which is <1
    Km from it. Is it worth?
    It seems you might already have the answer.

    The main thing you should worry about is whether your are paying too high a price if you buy now. If you need the address 5 years later, then time is on your side. If not, and you are comfortable with price, then just do it and don't look back.

  21. #21
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    Quote Originally Posted by ezonme
    zhi chu chang lei....
    蜘蛛惨了? ....

  22. #22
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    Default HBC

    Quote Originally Posted by ezonme
    is easy to horse back cannon. why don't u said whack uob or dbs shares when they were <$2.

    i thk his bottomline is he is able to sleep peacefully all these days. Cheers!
    Yea. Agree. If you throw in other things like your friend got retrenched in between, but lucky house fully paid so can sleep peacefully, then his decision will seem correct.

    Anyway, why bother with such examples ?

    Horse Back Canon (HBC) is the correct description!

    DKSG

  23. #23
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    Quote Originally Posted by carbuncle
    蜘蛛惨了? ....
    this guy commferm singkaporean!!!

  24. #24
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    Quote Originally Posted by crystech
    For own stay isn't location more important for a term like 10years? 999 or freehold seem tempting but many I seen have rather poor location...

    Assuming I want my boy to study a primary school and bought a LH which is <1
    Km from it. Is it worth?
    I did that... The FH within 1 km only a few and those we saw does not fit our criteria in terms of budget, environment, layout... in that order. We went for one within our budget because we cannot stretch too thin.

    Is it worth it? The logistic is much easier. Importantly, we are also closer to work place. So everyone benefits. If you are just moving for the school but more inconvenience to others, then you will have to decide for yourself whether it is worth it.

    I suppose I might sell at a loss in future since leasehold value drops. But for now, this decision that serves me best.

  25. #25
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    so how? Which did you go for in the end?

    there is no right or wrong answer. To each his own. Just wanna kepoh.

  26. #26
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    Quote Originally Posted by ezonme
    zhi chu chang lei....
    Quote Originally Posted by carbuncle
    蜘蛛惨了? ....
    Quote Originally Posted by House
    this guy commferm singkaporean!!!
    吃猪肠了?。。。。。。

    This one lagi Singaporean?

  27. #27
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    Quote Originally Posted by lajia
    I offer my views and calculation and risk accessment has to be done by oneself to get LH or 999 or ...
    Hahaha... if sleep peacefully is the key objective then simple just get something he can fully paid for: )
    your post is a good read as you have provided eg with interesting figures. I have relatives not earning much choose to fully paid their housing loan. In my opinion, should keep the $ and continue to pay the yearly mortgage insurance from HDB since its cheap. Keep $ for rainy days or wait for opportunity.

  28. #28
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    Quote Originally Posted by Sleepyhead
    so how? Which did you go for in the end?

    there is no right or wrong answer. To each his own. Just wanna kepoh.
    If asking me I am still considering the following options.

    1.Grande Vista - 999 years from 1880
    Very resort and relax environment. Premium slightly higher than 99years seasons park costing around 1.05-1.1m

    Pros - 999years although I probably won't be able to enjoy even 99 years of it. Relax and quiet environment. Spacious land and plenty of carpark lots

    Cons - Not as convenience . Target Primary school only within 2km (Anderson primary school) for my boy in 2 years time. More expensive.
    Older and outdated design. (Can be fix with $$$)

    Not sure can afford or not. Maybe people can share their view?
    Income: Single 105k/year Combined 135k/year
    Downpayment around $300k
    Backup cash around $100k in bank (Assuming FD etc.)




    2.Seasons Park Condo - 99 years from 1995
    Pros - Nice environment as well. High floor and good view. Slightly cheaper between 950k-1 mil. Within 1 km to target primary school. Newer than GV

    Not sure can afford or not. Maybe people can share their view?
    Income: Single 105k/year Combined 135k/year
    Downpayment around $250k
    Backup cash around $150k in bank (Assuming FD etc.)

    Cons - Leasehold (Shouldn't matter for now).


    3. HDB in woodlands (Executive/EM 15xx sqft above)

    Pros - Cheaper Costing around 480-550k + COV 15-25k, Can fully paid within 5 years MOP. Sleep well at night.


    Cons - MOP 5 years!!!! And may become missed the boat for PTE if it happen to correct within 5 years which is very likely from my view

    Downpay - $250k
    Backup cash 180k (Bank and Stocks etc.)


    4.HDB in AMK (Near my parent ) - 4Rms flat (85sqm - 95sqm)
    Pros - Cheaper Costing around 440k-550k depending how old the flat is. 5xxk for newer like Blk 317A /315A etc (6 years old from 2006) .
    Sleep well at night and can fully paid within 5 years

    Cons- Small in term of size compare to all above. 5 Years MOP!!!! may become missed the boat.


    Personally I still hope for more views and personally I am in favour of HDB 3(Woodlands).
    I prefer bigger space but downside is...Very far north which I am staying right now...need to travel down to AMK daily as usual and always jam in SLE.....but I can sleep peacefully and probably invest a private in 5 years time unless price shoot up 100% from now..

    All Gurus/Investors/Liao Jiao....any comment?

  29. #29
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    do you currently owning any apartment and do you have any kids, their age?
    mind to consider other location?

  30. #30
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    Quote Originally Posted by rattydrama
    do you currently owning any apartment and do you have any kids, their age?
    mind to consider other location?
    Just Sold my House and moving in with Parent for a short while.
    Not considering other location except AMK/Woodlands as it is near my parent(Woodlands...err not too bad la.)

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