Should I upgrade to a bigger landed house?

[mummy]

Just got a new job that can double my income...thinking should I upgrade to a bigger landed since we can afford it.

Is it the right time to buy or should I wait for prices to fall?

Will landed still go up over the long term?

Going to view a Lorong Ong Lye semi d 3600 sq ft land and 3000sq ft built up asking for 3.15 million which makes it 875psf...seems like a steal as we bought our current terrace at 842psf 4 years ago...

Should I postpone my early retirement dream for now and invest for higher returns?

[yowetan]

Just got a new job that can double my income...thinking should I upgrade to a bigger landed since we can afford it.

Is it the right time to buy or should I wait for prices to fall?

Will landed still go up over the long term?

Going to view a Lorong Ong Lye semi d 3600 sq ft land and 3000sq ft built up asking for 3.15 million which makes it 875psf...seems like a steal as we bought our current terrace at 842psf 4 years ago...

Should I postpone my early retirement dream for now and invest for higher returns?

One piece of advice after I assess your plot gone so far between two forum(s) - Don't count your eggs too soon.

[mummy]

One piece of advice after I assess your plot gone so far between two forum(s) - Don't count your eggs too soon.

From your personal experience???

[xebay11]

For what it's worth, planning wise is best to get the Semi D rather than plan to buy property and retire in JB.

Timing wise it's your call, no one knows the future.

[hopeful]

regarding postponement of early retirement, what happen to your dream to do volunteer/charity/missionary work in africa?

oh i get it, the salary increase is used to buy bigger house and retire same age as before, and not to make your early retirement dream come much earlier.

[mummy]

For what it's worth, planning wise is best to get the Semi D rather than plan to buy property and retire in JB.

Timing wise it's your call, no one knows the future.

Thanks for yr advice....also think the semi D is a good investment opportunity...

[mummy]

regarding postponement of early retirement, what happen to your dream to do volunteer/charity/missionary work in africa?

oh i get it, the salary increase is used to buy bigger house and retire same age as before, and not to make your early retirement dream come much earlier.

Yes, you got it...to help me make money faster to retire early...cannot imagine retiring only 2 of us in a big house...no point...so really an investment and to upgrade for a while....

[economist]

Just got a new job that can double my income...thinking should I upgrade to a bigger landed since we can afford it.

Is it the right time to buy or should I wait for prices to fall?

Will landed still go up over the long term?

Going to view a Lorong Ong Lye semi d 3600 sq ft land and 3000sq ft built up asking for 3.15 million which makes it 875psf...seems like a steal as we bought our current terrace at 842psf 4 years ago...

Should I postpone my early retirement dream for now and invest for higher returns?

Thought it was asking higher than this, saw this ad before...

[mummy]

Thought it was asking higher than this, saw this ad before...

Apparently just lowered....2 other properties I was thinking of viewing got sold before I had a chance and getting 3 viewers this sat for my house so I think market still not too bad...

[economist]

Apparently just lowered....2 other properties I was thinking of viewing got sold before I had a chance and getting 3 viewers this sat for my house so I think market still not too bad...

The lowered price seems fair, a similar sized nearby semi-D with land area 3,412 was sold for 3.29m in Apr 2012. Not sure about build-up quality or renovations though.

Market is not bad for fairly valued properties, buyers are still there, just getting more selective.

[mummy]

The lowered price seems fair, a similar sized nearby semi-D with land area 3,412 was sold for 3.29m in Apr 2012. Not sure about build-up quality or renovations though.

Market is not bad for fairly valued properties, buyers are still there, just getting more selective.

Wow, so this one seems a steal...lower psf than the one u mentioned...

[economist]

Wow, so this one seems a steal...lower psf than the one u mentioned...

I would not call anything a steal until the detailed locations are compared, building quality, interiors, neighbors should also be taken into consideration.

[mummy]

I would not call anything a steal until the detailed locations are compared, building quality, interiors, neighbors should also be taken into consideration.

Ok, will take note when I go for viewing at 1pm..

[hopeful]

Yes, you got it...to help me make money faster to retire early...cannot imagine retiring only 2 of us in a big house...no point...so really an investment and to upgrade for a while....

sorry dont get you.
scenario1
now you have bigger income. you want to upgrade to bigger house and incur more debt. early retirement age still same as before increment in salary.

scenario2
bigger income. stay in same small house. pay down debt faster. reach early retirement much faster.

which is which?

[yowetan]

sorry dont get you.
scenario1
now you have bigger income. you want to upgrade to bigger house and incur more debt. early retirement age still same as before increment in salary.

scenario2
bigger income. stay in same small house. pay down debt faster. reach early retirement much faster.

which is which?

Human nature.

Greed.

Complacent.

Over-confident.

Interest rate is climbing up.

Healthcare industry is not bed of roses...

[mummy]

sorry dont get you.
scenario1
now you have bigger income. you want to upgrade to bigger house and incur more debt. early retirement age still same as before increment in salary.

scenario2
bigger income. stay in same small house. pay down debt faster. reach early retirement much faster.

which is which?

Just considering my options....whether to use the extra savings to pay down mortgage or to invest for faster and bigger profits...

[mummy]

Human nature.

Greed.

Complacent.

Over-confident.

Interest rate is climbing up.

Healthcare industry is not bed of roses...

And u r not the same and even more unrealistic when u say want to buy landed with your salary and plans to squeeze everyone together?

Think medical job is more stable than banking...

Don't be sour grapes...

[hopeful]

Just considering my options....whether to use the extra savings to pay down mortgage or to invest for faster and bigger profits...

extra income to pay down mortgage = higher certainty of much earlier retirement and to pursue your dream of Africa.

extra income to invest faster/bigger profits = more uncertainty of much earlier retirement.

[mummy]

sorry dont get you.
scenario1
now you have bigger income. you want to upgrade to bigger house and incur more debt. early retirement age still same as before increment in salary.

scenario2
bigger income. stay in same small house. pay down debt faster. reach early retirement much faster.

which is which?

I calculate if the semid just goes up to 1000psf can retire debt free to jb with 2 million profit which if put in fixed deposit od 3.2 % can give 5k + per mth even without depending on rental income....

[mummy]

Saw the house and good thing is that there is land at the side to build a small pool like what the neighbour did and also close to 2 mrts and NEX and a fair walk to coffeeshops...but nearby temple....agent can try for us for 3 million....

[mummy]

But also worried if I lose my job and need to sell within 4 yrs as SSD woukd be hefty ...hmmm...better not to buy perhaps....

[CondoWE]

And u r not the same and even more unrealistic when u say want to buy landed with your salary and plans to squeeze everyone together?

Think medical job is more stable than banking...

Don't be sour grapes...

That is good one... !

[greglhc]

Actually the question to me seems to be, should I leverage more since now able to take a bigger mortgage due to higher income?

I think in a rising interest rate environment, might not be too prudent

Feel can wait some more for prices to come down. How about re-evaluate again towards end of 2014?

[mummy]

Actually the question to me seems to be, should I leverage more since now able to take a bigger mortgage due to higher income?

I think in a rising interest rate environment, might not be too prudent

Feel can wait some more for prices to come down. How about re-evaluate again towards end of 2014?

Going to view again with my mum and kids...another buyer interested also so better hurry....

Have 4 viewers for my terrace this sat so hopeful to sell soon if we want to...

[proud owner]

Going to view again with my mum and kids...another buyer interested also so better hurry....

Have 4 viewers for my terrace this sat so hopeful to sell soon if we want to...

do you think you can live at Lor Ong Lye ?

to my knowledge, that stretch is not really accessible ....

[Arcachon]

A
I think in a rising interest rate environment, might not be too prudent

Question : Singapore Banking Interest rate, what do it depend on?

[Londonproperty123]

How high can singapore housing prices go?

Anyway, I am too poor to buy landed. I will just invest money to get passive income.

[mummy]

do you think you can live at Lor Ong Lye ?

to my knowledge, that stretch is not really accessible ....

Just walked 10 to 15min to coffeeshops, clinics, playground, mrt and NEX so not that bad....

[mummy]

Think better be conservative and save my bullets for fire sale next time since prices seem to be coming down and interest rates going up....also mum and I did not like the house facing the side of a temple..Though I was really quite tempted to buy and also had verbal in principal approval from citibank for bank loan...

Now wondering if I should cancel selling my house or just test market for fun....4 viewers coming this sat....

[newbie11]

Is interest rates going up from 1.3% scary? Then what are those years at 5%?