Newbie
What are your opinions on renting an apartment while waiting for a value buy to happen?
I am thinking of selling away my current HDB and move to a rental apartment while searcing for an ideal private property at a good value. Based on the outlook next year, I am hoping for the price to further soften. Any advice? Thanks.
Senior
Not enough info to advise.
Less info, worst advise you will get.
Age
Income
Cash on hand
Children
Parents
Wife income
CPF
etc.
Newbie
In our early 40s, with a combined income of $21K per month. Cash on hand about 800K. CPF balance is zero and current property fully paid.Originally Posted by Arcachon
Am looking for an unit for me and my spouse only. Do not wish to incur huge loan due to rising interest.
Senior
Investment.
Car loan
HDB bought direct or resale
Location, valuation.
Ultimate Underdog
It's a gamble using roof over head.
Why not try for ABSD remission while upgrading?
HDB very resilient in price so even if next year price drop and you sell, price won't be much different.
Everyone was looking for 2009 to 2010 prices to keep falling and my colleague sold for way below market price for her EC then.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Senior
Senior
Since 2012, your cash get standby to grab firesale property later on..
http://forums.condosingapore.com/sho...-my-loan-first
Last edited by Arcachon; 19-12-16 at 18:32. Reason: Since 2012, your cash get standby to grab firesale property later on..
Senior
Senior
I personally would NEVER go without a roof.
I know of many friends, with cash $x mil, CPF untouched, current properties Fully paid...
none of them including myself, No matter how confident we are that prices will come off, will never sell everything and rent...and wait out...
Junior
Too much cash on hand can easily make u lose focus. Short term goals suddenly more important than long term goal. The idea of timing your property purchase never work for mass market property (it works mostly for high end property).
Senior
I just 100k plus cash buy condo.
Logic very simple, change a 5 room HDB to private add another 100k more why not.
Newbie
will definitely want to sell HDB and move into a condo. In today's climate, there are many choices and I can take my time to find an ideal one.
If sell HDB first then no need to cough up the ABSD. Even though it is refundable, but I must sell HDB within 6 months after my private property purchase to qualify. Don't really want to be pressed by timeline.
If property price softens further, that is an added bonus for me in the private property hunt.
HDB sale completion is unusally 3 months, I dont think I can complete a sale, renovate and move into a new place within that time frame. Thus I thought, why not sell and rent and buy later?
Ultimate Underdog
You will be moving house twice, and need to store additional materials somewhere. Other than the costs, this is a lot of work if it involves family members. You gotta pay me more than 10k for me to move once.
If you have got it all figured out, then all the best!
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Junior
Never ever sell your HDB. They have the highest rental yield no private condo or ec condo in best location can beat that yield. One of my friends who sold his HDB flat and bought private condo regretted that move. U can sell but u cannot buy back. HDB no monthly maintenance, very low property tax etc. Keep the hdb and buy another private condo.
Newbie
AGREE
Ultimate Underdog
Got maintenance. Plus parking fees.
Add together anything from 150 to 200 per month but no specific facilities.
Upgrade or not I think is personal decision but sell, rent to upgrade there are specific risks including rent paid.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Global recession is coming....
HDB have to flip before 30 years lease is up (and only left another 69 years to go).............. because as with all 99-years leasehold properties, they will drop very quickly after that and few buyers because difficult to get loan.......
Global recession is coming....
Well for HDB flats, you also will have to entertain many people for free, like about every 5 years you will get frustrated with many Grassroot members knocking on the doors ever so often to introduce you to their nominated candidate standing for election and to told you to welcome their nominated candidate etc............
Not to mention some cases of loan shark harassment, splashing of paints, doors got chained for no reason, etc..............
And obvious also lots of cockcroaches (if you live on lower floors), death cockroaches everywhere and left behind after pest control (because the cleaners only come to sweep floors once a week),
colony of rats in the HDB estate,
also Dengue, Zika, strangers appearing and knocking on your unexpectedly (for 1 reason or another)...........
Last edited by teddybear; 20-12-16 at 21:59.
Senior
This is how I see to sell, rent then buy.
From the investor point of view.
HDB rent yield the best.
Never sell all and wait.
Buy then sell, renting is out of the question.
Asset is money coming into the pocket.
From a Low income point of view
Buy then sell from HDB to condo with minimum cash.
When retire cannot pay maintenance, sell then buy HDB.
From High income point of view.
Sell then rent, wait for good deal.
Pay in full don't believe paying interest, commission, duty etc.
Don't have time to look at yield, capital appreciation because money every month more than enough.
Correct me If I am wrong.
Newbie
I would keep my HDB for retirement rooftop, sell or rent out my private properties
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