Dinner or HDB
- Thread starter cocoeizing
- Start date
Pamm, if i were you, i wouldn't dare to buy a S$500K flat with a combined pay of S$7.4K. i'm not saying this as a denigration, but i'm pointing out about my own risk-aversion. but i do agree with Powder that there is always capital appreciation down the road. a holland V home can appreciate much further and faster than a home in a lacklustre neighbourhood during the same period. furthermore, you can always earn more than S$7.4K down the years. also, if (touch wood) something bad happens to the couple financially, you can always rent out a room or two.
but i have been wondering to myself this - just how much further can a good district HDB (Bkt Merah, Holland, Queenstown) appreciate given that the price is already so high now. there is a limit to what buyers can ultimately afford since wages dont rise in proportion to property price.
with plans to develop outskirt area eg the jurong lake district into an outlying Business District, would prices in this currently less attractive area have a bigger potential to grow and hence better investment for the young couple now?
all this is just wild speculation on home values. in the meantime, just enjoy your lovely new home. sometimes we should simply enjoy the moment and savour out hard earned possessions instead of always thinking in terms of dollars and cents.
but i have been wondering to myself this - just how much further can a good district HDB (Bkt Merah, Holland, Queenstown) appreciate given that the price is already so high now. there is a limit to what buyers can ultimately afford since wages dont rise in proportion to property price.
with plans to develop outskirt area eg the jurong lake district into an outlying Business District, would prices in this currently less attractive area have a bigger potential to grow and hence better investment for the young couple now?
all this is just wild speculation on home values. in the meantime, just enjoy your lovely new home. sometimes we should simply enjoy the moment and savour out hard earned possessions instead of always thinking in terms of dollars and cents.
Thomas,
dun worry abt it, cos 1) there's nothing u can do abt it, 2) it's the current market, 3) market have cycles so u can still find a time to sell without major loss, 4) u would have otherwise - be renting at 1-2k a month.
for me i dun think too much abt loans... we have such a low interest rate, it's still pretty good for ownership compared with rental... without loans, we would be only able to buy when we're like - 50? hehe... as for selling at a loss, remember that IF that time comes - u are prob buying at pple's loss too.
to be fair, we buy/sell at same periods, we'll be relatively hedged. unless u talking abt buy/selling higher end condos then we should always try to buy Location+Space at the lowest point and Never the highest point. But dun try to hard to be 'super-right' cos sometimes the stupid decisions pay-off, and the super-calculated decisions Don't. we're not psychics afterall.
we have to learn to be reasonable... we Should not expect to buy low sell high within the same period. this is like my Tiong Bahru fren telling me he wants to sell his 5rm HDB at 900k, and at same time - buy Meraprime at 1million... someone has to be the stupid wishful-thinking person here, and for this to happen, u need TWO such pple - the buyer of your HDB, and the seller of the Condo.
i would like to hereby smile a cynical smile at those pple who say they won't sell their HDB "unless someone offers me 1 million dollars" 2yrs ago... this is precisely the kind of mindset that prevents them from bigger things in life.
dun worry abt it, cos 1) there's nothing u can do abt it, 2) it's the current market, 3) market have cycles so u can still find a time to sell without major loss, 4) u would have otherwise - be renting at 1-2k a month.
for me i dun think too much abt loans... we have such a low interest rate, it's still pretty good for ownership compared with rental... without loans, we would be only able to buy when we're like - 50? hehe... as for selling at a loss, remember that IF that time comes - u are prob buying at pple's loss too.
to be fair, we buy/sell at same periods, we'll be relatively hedged. unless u talking abt buy/selling higher end condos then we should always try to buy Location+Space at the lowest point and Never the highest point. But dun try to hard to be 'super-right' cos sometimes the stupid decisions pay-off, and the super-calculated decisions Don't. we're not psychics afterall.
we have to learn to be reasonable... we Should not expect to buy low sell high within the same period. this is like my Tiong Bahru fren telling me he wants to sell his 5rm HDB at 900k, and at same time - buy Meraprime at 1million... someone has to be the stupid wishful-thinking person here, and for this to happen, u need TWO such pple - the buyer of your HDB, and the seller of the Condo.
i would like to hereby smile a cynical smile at those pple who say they won't sell their HDB "unless someone offers me 1 million dollars" 2yrs ago... this is precisely the kind of mindset that prevents them from bigger things in life.
sgbabydoll
Active Member
My relative is renting a non-MBR at the Pinnacle flat for $1K a month.
There is a lot of potential even with HDB flat in prime location.
There is a lot of potential even with HDB flat in prime location.
Powder, that Tiong Bahru friend can sell his flat at S$900K, rent a HDB flat for two years, then buy a condo at the next downturn.
or he can buy the condo now, but rent it out while he himself rents a HDB flat. he can move into the condo when he is more personally more financially ready to do so.
what do you think? share with us your money making secrets leh.
or he can buy the condo now, but rent it out while he himself rents a HDB flat. he can move into the condo when he is more personally more financially ready to do so.
what do you think? share with us your money making secrets leh.
cococherry
New Member
Pamm,
U can try Pan pac / Hyatt / OCC / Beaches (no ceiling)
U can try Pan pac / Hyatt / OCC / Beaches (no ceiling)
sgbabydoll
Active Member
Usually only ballrooms are built with high ceiling, but doubt they will "allow" you the use of a ballroom with 10 tables of order. Maybe can try boutique hotels like Scarlet, Gallery, Studio M, etc?
hi May,
1stly, on your previous post... 1 element of the central HDBs is that they can rent out for alot more than the outskirts, thus the high prices are pretty justifiable. some 4rm rentals go for as high as 3k a month... whilst the monthly instalment is only 1-1.5k.
on the 2nd part, i think u're assuming that 1) condo prices will be lower in 2yrs, 2) rental prices won't negate out your hedge money, 3) u are forcing yourself to live in rental units (most sporeans are not rental-inclined). the biggest assumption here would be that u won't procrastinate. discussing in 1 paragraph is easier than actually moving 70 boxes of belongings... and most pple are Inclined to stick to their confort zones... when time comes to make a decision, i am very sure 50-100k will not make pple move... .they will think of the inconvenience, habits and make decision to stay.
i dun have money-making secrets leh... i just think very logically and place my bet on location. like my flat in strathmore which took me 3yrs to convince my mum to move there... it was expensive at tat time cos 220k for a 4rm! but then it's impossible to live only 7mins from orchard and have prices decline, so i know it's gonna go up in time. at tat time only can afford hdb on my single income... else i would have bought river valley private apartments liao... but no point going back... dun have - dun force. some money is not ours to make, some that is - we should.
1stly, on your previous post... 1 element of the central HDBs is that they can rent out for alot more than the outskirts, thus the high prices are pretty justifiable. some 4rm rentals go for as high as 3k a month... whilst the monthly instalment is only 1-1.5k.
on the 2nd part, i think u're assuming that 1) condo prices will be lower in 2yrs, 2) rental prices won't negate out your hedge money, 3) u are forcing yourself to live in rental units (most sporeans are not rental-inclined). the biggest assumption here would be that u won't procrastinate. discussing in 1 paragraph is easier than actually moving 70 boxes of belongings... and most pple are Inclined to stick to their confort zones... when time comes to make a decision, i am very sure 50-100k will not make pple move... .they will think of the inconvenience, habits and make decision to stay.
i dun have money-making secrets leh... i just think very logically and place my bet on location. like my flat in strathmore which took me 3yrs to convince my mum to move there... it was expensive at tat time cos 220k for a 4rm! but then it's impossible to live only 7mins from orchard and have prices decline, so i know it's gonna go up in time. at tat time only can afford hdb on my single income... else i would have bought river valley private apartments liao... but no point going back... dun have - dun force. some money is not ours to make, some that is - we should.
Thanks so much everyone for the suggestion, going to visit a few plc this wkend 
Pan, Gallery, Mandarin... four season is over budget le >.<
Anyone know of nice cozy restaurant that has about 10 tables, so that they close out for our event only? Then hor, I don't mind do it small scale de but warm & loving ambience.
May, I totally agree with you that we are over-committing. But my SO is getting his PhD next year and my MSc convo is this Jul (hopefully *finger croosed* that will translate to more income lor).
I know this is the worst time to buy a flat. But because we missed the boat (2008 crisis, thinking the price would drop, so go keep balloting HDB but nvr get... if only we bought resale them @_@ sobsob), we are so scared of missing the boat again.
Pan, Gallery, Mandarin... four season is over budget le >.< Anyone know of nice cozy restaurant that has about 10 tables, so that they close out for our event only? Then hor, I don't mind do it small scale de but warm & loving ambience.
May, I totally agree with you that we are over-committing. But my SO is getting his PhD next year and my MSc convo is this Jul (hopefully *finger croosed* that will translate to more income lor).
I know this is the worst time to buy a flat. But because we missed the boat (2008 crisis, thinking the price would drop, so go keep balloting HDB but nvr get... if only we bought resale them @_@ sobsob), we are so scared of missing the boat again.
thomas, i think best is to buy a 2nd place when the mkt is low... buy a 3rd place if possible but just dun stretch. the only way u can really sell at high prices, without buying back at same high price, is to have a 2nd place... tat's why u see some pple shifting back to parents or relatives...
sadly, some of them sold at a high which isn't high at all... end up cannot buy their place til this day. rem my strathmore was high when i bought it... well can u imagine those who sold it cannot even buy further areas now... so u have to be really careful. dun try to make money from property unless u have more than 1.
sadly, some of them sold at a high which isn't high at all... end up cannot buy their place til this day. rem my strathmore was high when i bought it... well can u imagine those who sold it cannot even buy further areas now... so u have to be really careful. dun try to make money from property unless u have more than 1.
hi Pamm,
i can agree with u on the time-aspect... it is crucial to me too. there's actually another aspect to this which i cannot prove, but feel that it is a strong point for me... and that is the Road/Traffic aspects... i dun like to stay at places where there's traffic issues, and where cars congregate. i avoid places that need access via cte/pie/aye/farrer rd by default.
choice of home sure have differences, as a couple u've gotta compromise. the considerations are as much short-term, as it is long-term. short-term is work, long-term is parents/childcare/appreciation/infrastruture etc... it's good to know what plans our gov have for certain places. see how the prices at south buona vista had appreciated?
anyway there's no good or bad time to buy a HDB especially when u need a roof to start a family... so dun have to think too much abt it. most pple would have earned 1 million dollars by 50yrs old... it's a matter of how much they've spent along the way...
i can agree with u on the time-aspect... it is crucial to me too. there's actually another aspect to this which i cannot prove, but feel that it is a strong point for me... and that is the Road/Traffic aspects... i dun like to stay at places where there's traffic issues, and where cars congregate. i avoid places that need access via cte/pie/aye/farrer rd by default.
choice of home sure have differences, as a couple u've gotta compromise. the considerations are as much short-term, as it is long-term. short-term is work, long-term is parents/childcare/appreciation/infrastruture etc... it's good to know what plans our gov have for certain places. see how the prices at south buona vista had appreciated?
anyway there's no good or bad time to buy a HDB especially when u need a roof to start a family... so dun have to think too much abt it. most pple would have earned 1 million dollars by 50yrs old... it's a matter of how much they've spent along the way...
Hi Powder,
Thanks so much for your advice. Every time we start the housing conversation with "if only..." will lead to quarrel one lor. Because we really miss the timing due to gov's empty promises. End up put a lot of strain in our r/s aghhhhhhh.
We now decided to call it costly mistake ($100k+) but then what to do? We still wanna get married and start our family and we need a roof over our head right?
SO is highly uneasy with committing "financial monster" and rather we buy "cheaper" Bukit Panjang etc.
Of course lah, he doesn't have to travel so much to work (in the west) as compared to me wasting hours to get to Changi (almost everyday).
Thinking of $ now just wanna cry... Hopefully our pain (in getting further education) has monetary worth.
I have a friend who just move in to their big 120sqm Yew Tee home and now both her and hubby regret. They feel it is just so far from everywhere and very inconvenience. (They used to rent at Holland V, now their newly bought home is near Yew Tee MRT val: $380k cov: 40k). Once you add their reno it's also $450k already.
I still have a few more days to decide my option. The only thing that worries me is the $4xxk loan and how we will service for the next 25-30 years lor @_@
That's why ROM and AD has to sacrifice and get small, cozy one (which I like the idea as I really just want really close ppl at my wedding).
Overall, I love the house's location and high floor. Love the fact that I just need a coat of paint and not renovation. Still, I'm worried as it's very exp...
Sigh... by right this shd be exciting and forward-looking, we shd be happier buying new home than this hor >_____<
Thanks so much for your advice. Every time we start the housing conversation with "if only..." will lead to quarrel one lor. Because we really miss the timing due to gov's empty promises. End up put a lot of strain in our r/s aghhhhhhh.
We now decided to call it costly mistake ($100k+) but then what to do? We still wanna get married and start our family and we need a roof over our head right?
SO is highly uneasy with committing "financial monster" and rather we buy "cheaper" Bukit Panjang etc.
Of course lah, he doesn't have to travel so much to work (in the west) as compared to me wasting hours to get to Changi (almost everyday).
Thinking of $ now just wanna cry... Hopefully our pain (in getting further education) has monetary worth.
I have a friend who just move in to their big 120sqm Yew Tee home and now both her and hubby regret. They feel it is just so far from everywhere and very inconvenience. (They used to rent at Holland V, now their newly bought home is near Yew Tee MRT val: $380k cov: 40k). Once you add their reno it's also $450k already.
I still have a few more days to decide my option. The only thing that worries me is the $4xxk loan and how we will service for the next 25-30 years lor @_@
That's why ROM and AD has to sacrifice and get small, cozy one (which I like the idea as I really just want really close ppl at my wedding).
Overall, I love the house's location and high floor. Love the fact that I just need a coat of paint and not renovation. Still, I'm worried as it's very exp...
Sigh... by right this shd be exciting and forward-looking, we shd be happier buying new home than this hor >_____<
exactly, Pamm, you said it. you should really be happier about your holland v flat and stop comparing/ thinking about what other people have.
holland v is a wonderful location. if i were you, i would be happy to live there even if the flat is small. personally, it was one of the prime locations i sourced for when i was looking for a flat. however, the COV was out of our reach at that time, so we had to call off the idea. how much COV are you paying now?
like Powder said, sometimes Cuo4 you3 cuo4 zhao2. sometimes seemingly not-so-advantageous decisions can work in your favour. remember that holland v is in a prime location and you stand to receive a handsome windfall several years down the road on disposing the flat, so why not.
pls dont make the mistake of quarrelling with your husband over the flat. in your shoes, i would argue if the flat is completely a bad idea that should be written off, but now this isn't the case. the flat has its good points, so just go ahead and not think so much. bear in mind that if anything financially untoward happens to you, you can always rent out a couple of rooms or two, so not necessary to obsess over the price tag as well
holland v is a wonderful location. if i were you, i would be happy to live there even if the flat is small. personally, it was one of the prime locations i sourced for when i was looking for a flat. however, the COV was out of our reach at that time, so we had to call off the idea. how much COV are you paying now?
like Powder said, sometimes Cuo4 you3 cuo4 zhao2. sometimes seemingly not-so-advantageous decisions can work in your favour. remember that holland v is in a prime location and you stand to receive a handsome windfall several years down the road on disposing the flat, so why not.
pls dont make the mistake of quarrelling with your husband over the flat. in your shoes, i would argue if the flat is completely a bad idea that should be written off, but now this isn't the case. the flat has its good points, so just go ahead and not think so much. bear in mind that if anything financially untoward happens to you, you can always rent out a couple of rooms or two, so not necessary to obsess over the price tag as well
Pamm,
i'm with u on this, yeah the money-price ain't the best, but i dun think proximity can be bought later... i expect location to cost much more in a decade.
nevermind the talk abt MRTs, i find that pple who stay far-out, only hang around far-out. i dun see my frens staying in certain faraway places becos they are either too lazy to travel, or find it too costly... can be irritating, so to me - moving too far and being so anal abt costs - means u have less frens, less networking, live in your own little cocoon far from civilisation, and that gives u less exposure.
i'm pretty sure my petrol bills, the mileage on my cars, my cab-fares, and Time - are alot alot more optimised. and i dun feel too tired to go out half the time...
i'm with u on this, yeah the money-price ain't the best, but i dun think proximity can be bought later... i expect location to cost much more in a decade.
nevermind the talk abt MRTs, i find that pple who stay far-out, only hang around far-out. i dun see my frens staying in certain faraway places becos they are either too lazy to travel, or find it too costly... can be irritating, so to me - moving too far and being so anal abt costs - means u have less frens, less networking, live in your own little cocoon far from civilisation, and that gives u less exposure.
i'm pretty sure my petrol bills, the mileage on my cars, my cab-fares, and Time - are alot alot more optimised. and i dun feel too tired to go out half the time...
Thanks so much May and Powder on your encouraging words ^_^
I also don't want to quarrel lehhh, but sometime when we feel $$ strain hor, it's easy to fall into the "blame game" especially now event the ulu area also asking for $40+k cov yikes!!!
As I just optioned only, so really want to hear a lot of view on price vs location vs size on resale flats.
Despite the "market rate" of Holland $80-100k cov, because we went down so many times, and our agent is also helpful... owner also quite nice and understanding, we manage to meet half-way between our average cov budget and their expectation.
But still very exp lor..
What I feel is that, once make decision (excercise the option), will give happiness a chance le.. now still can think think think, compare, compare, look look see see
hehehehe
Totally agreed with you on the ppl who stay "cocoon far from civilisation" I am also scared I'd be one of them lor if I buy far out. My concern is mostly to save time... imagine one day round trip save at least, at very least 40min. $ I can earn, but time I can't get it back.
Will update you on my decision later. Meanwhile, if you know such restaurants, let me know horr XD
I also don't want to quarrel lehhh, but sometime when we feel $$ strain hor, it's easy to fall into the "blame game" especially now event the ulu area also asking for $40+k cov yikes!!!
As I just optioned only, so really want to hear a lot of view on price vs location vs size on resale flats.
Despite the "market rate" of Holland $80-100k cov, because we went down so many times, and our agent is also helpful... owner also quite nice and understanding, we manage to meet half-way between our average cov budget and their expectation.
But still very exp lor..
What I feel is that, once make decision (excercise the option), will give happiness a chance le.. now still can think think think, compare, compare, look look see see
hehehehe
Totally agreed with you on the ppl who stay "cocoon far from civilisation" I am also scared I'd be one of them lor if I buy far out. My concern is mostly to save time... imagine one day round trip save at least, at very least 40min. $ I can earn, but time I can't get it back.
Will update you on my decision later. Meanwhile, if you know such restaurants, let me know horr XD
sounds good... well i dun think u'd be overly specific on where u're buying etc other than holland... but just make sure u did your research properly. as for COV if it's comfortable then do it, if it places u in debt then reconsider.
tho not many, there will be owners like me who are very unlikely to put a cov component when i sell, since i dun beleive in making pple pay arm n leg to buy something i have already made money off... but i'll be very particular abt the buyer for my HDB when i sell it next year... i'd rather let needful pple save the COV, than let pple take advantage of my intended selling price. else will just rent out at a nominal fee.
sadly, the agents are the main drivers, and also the greed of the sellers... end of the day we sporeans kill each other and burden the next generation... that's why i dun intend to stain myself with this... but i'm abit extreme in some of my thinking, and i really dun need the extra 30-40k cov...
anyway, have a nice weekend and good luck. and pls dun quarrel over it... just accept that both of u have slightly different priorities in housing... so to compromise, u simply pay abit over the market, but u will have harmony.
tho not many, there will be owners like me who are very unlikely to put a cov component when i sell, since i dun beleive in making pple pay arm n leg to buy something i have already made money off... but i'll be very particular abt the buyer for my HDB when i sell it next year... i'd rather let needful pple save the COV, than let pple take advantage of my intended selling price. else will just rent out at a nominal fee.
sadly, the agents are the main drivers, and also the greed of the sellers... end of the day we sporeans kill each other and burden the next generation... that's why i dun intend to stain myself with this... but i'm abit extreme in some of my thinking, and i really dun need the extra 30-40k cov...
anyway, have a nice weekend and good luck. and pls dun quarrel over it... just accept that both of u have slightly different priorities in housing... so to compromise, u simply pay abit over the market, but u will have harmony.
mum_of_2_girls
New Member
Hi powder,
As usual, I really like to read your post. Thanks for sharing with us your success knowledge.
Hi Pamm,
Like you, I also made a lot of noise when my hubby bought our place in early 2009 and placed a deposit with just 1 viewing.
I was so mad because like everybody else I was sure that the housing price would drop further because Lehman just went bankrupt but it never happen.
So like what Powder say your Holland property may worth much more in the future. You are sitting on a Gold mine. I should be congratulating you and not otherwise. Good decision.
As usual, I really like to read your post. Thanks for sharing with us your success knowledge.
Hi Pamm,
Like you, I also made a lot of noise when my hubby bought our place in early 2009 and placed a deposit with just 1 viewing.
I was so mad because like everybody else I was sure that the housing price would drop further because Lehman just went bankrupt but it never happen.
So like what Powder say your Holland property may worth much more in the future. You are sitting on a Gold mine. I should be congratulating you and not otherwise. Good decision.
Hi Albee,
I hope you guys will be right ^^ my heart break every time I heard the price went up (because we thought it'd go down, costly rookie mistake lor)
Powder, I really wish I encounter a seller like you lorrr. Every sellers now just want $$$. So far (both we viewed and the one we just called), NOBODY has asked for just at value. Next time tell me if you wanna sell yours, I wanna queue up, I'm serious!
Gtg and see the ROM & AD venue le. Just drop by to say hi.
I hope you guys will be right ^^ my heart break every time I heard the price went up (because we thought it'd go down, costly rookie mistake lor)
Powder, I really wish I encounter a seller like you lorrr. Every sellers now just want $$$. So far (both we viewed and the one we just called), NOBODY has asked for just at value. Next time tell me if you wanna sell yours, I wanna queue up, I'm serious!
Gtg and see the ROM & AD venue le. Just drop by to say hi.
no need to wait lah... i intend to source our poorer folks who need to stay there for proximity to their children or parents... i like to pick my buyers, dun like to sell to pple just cos of extra 30-40k... of cos if i can't find the right buyer, i may sell higher and give that extra money to pocket fund...
hi peeps
now got another headach arrr >.<
the holland flat that we put up option fees for.. what happen was
when we were buying the valuation was done concurrently, so the valuer sms my agent the value on time (which turn out to be accurate), both agent & owner say that the flat is 96sqm
finally we get hard copy of report, my SO almost went berserk because it is stated as 91sqm
now i feel so cheated and naive... i can't say agent is lying bcoz she said the owner say it is 96sqm
the owner was also not lying because he truly believed his house to be 96sqm, so my agent took his word for it
which led us to believe so too, genuinely
anyone has been in the same situation before?
what can I do now? i mean i still want the house, but now feel cheated of 5sqm @___@
what can i do and what can be done?
the ads agent put up is 96sqm, i save a copy of it
and that has efficiently led us to believe so
is this consider fraud? help!!!
now got another headach arrr >.<
the holland flat that we put up option fees for.. what happen was
when we were buying the valuation was done concurrently, so the valuer sms my agent the value on time (which turn out to be accurate), both agent & owner say that the flat is 96sqm
finally we get hard copy of report, my SO almost went berserk because it is stated as 91sqm
now i feel so cheated and naive... i can't say agent is lying bcoz she said the owner say it is 96sqm
the owner was also not lying because he truly believed his house to be 96sqm, so my agent took his word for it
which led us to believe so too, genuinely
anyone has been in the same situation before?
what can I do now? i mean i still want the house, but now feel cheated of 5sqm @___@
what can i do and what can be done?
the ads agent put up is 96sqm, i save a copy of it
and that has efficiently led us to believe so
is this consider fraud? help!!!
u can't do anything abt it... u are supposed to conduct your own checks, and that means not taken your agent's words for it. it's not the first and last time i've seen agents give me the wrong size... cos half the time, i know the size better than them thru conducting my own checks. i was on the other end of it quite a few times, whereby the unit i was buying, was actually bigger than what the seller or agent knows it to be... that's why when i buy, i always buy in lumpsum and never like to discuss based on PSF (per square feet).
to be frank, if u've been to the house and u're fine with the size, u should not let the number affect u. 91 and 95 isn't a marked difference, and if u consider 91sqm today, it will be smaller than 91sqm of yday.
if the number affects u drastically and u wanna back out of the deal, then try to make hell with the agent and see if something can be done. since everyone based on assumption - including yourself. as for your SO, i can understand the initial anger, but if the size was OK physically, same thing - it's ok.
of cos if u were buying pvt property based on PSF, then it's abt 53sqft worth of money u're paying for... if it's 1,000psf, it's 53k!
what i may consider doing is... take the Selling Price to divide by 95sqm, then pro-rate to 91sqm to set a new selling price. if that's possible.
to be frank, if u've been to the house and u're fine with the size, u should not let the number affect u. 91 and 95 isn't a marked difference, and if u consider 91sqm today, it will be smaller than 91sqm of yday.
if the number affects u drastically and u wanna back out of the deal, then try to make hell with the agent and see if something can be done. since everyone based on assumption - including yourself. as for your SO, i can understand the initial anger, but if the size was OK physically, same thing - it's ok.
of cos if u were buying pvt property based on PSF, then it's abt 53sqft worth of money u're paying for... if it's 1,000psf, it's 53k!
what i may consider doing is... take the Selling Price to divide by 95sqm, then pro-rate to 91sqm to set a new selling price. if that's possible.
mum_of_2_girls
New Member
Hi Pamm,
If you are not in a hurry to get a place, why don't you wait for the next downturn cycle?
I met my hubby when the property cycle was high, so we dated till the cycle was down to get marry.
Every house was selling at valuation or 20k or more below valuation. So many choices.
If you are not in a hurry to get a place, why don't you wait for the next downturn cycle?
I met my hubby when the property cycle was high, so we dated till the cycle was down to get marry.
Every house was selling at valuation or 20k or more below valuation. So many choices.
sgbabydoll
Active Member
Albee, before you give this kind of suggestion, did you consider the fact that the last economic downturn in 2008 did not really send property prices down?
miloice
Well-Known Member
The waiting game is possible only if you guys already have a place to stay. Else, renting will also use up your funds that you need to save up for the property.
btw, anyone renting out their HDB? What is the process of getting the application and what are the tax we will be liable? Any housing agents here to advise?
btw, anyone renting out their HDB? What is the process of getting the application and what are the tax we will be liable? Any housing agents here to advise?
actually i dun think HDB prices will be THAT affected by the economic crisis... Only the COV component will be affected.
1stly, it is the most basic housing which is almost a rite of passage for 70%(?) of us when we are ready to settle down. it is entry-level which is affordable to almost everyone, barring the COV component which is man-made and often greed-based.
2ndly, the ability for us to use our CPF to cover a large portion of the initial outlay would make it a very viable option. again, barring the COV cash component.
3rdly, the servicing via CPF would require almost no cash top-up component, thus allowing most of us to Safely buy one, without fear of losing.
personally, i Would Never play the waiting game to purchase a HDB if i Need one. it is Not a private property where prices are substantial... what happened in the last 5yrs was that HDB prices CORRECTED Up... if u agree it is 'A Correction', then waiting for it to come down, is like waiting for the country to make 'A Mistake'. the prices today are maybe inflated by 10-15%, and that is found in the stupid COV cash component.
the origin of COV can be argued, but if i remember, it was meant to be mutually-benefitting. ie whereby couples get a 30k grant for staying near parents, and the benefit to those who sold them such flats - got a cut of this 30k grant, maybe 10k or 15k (half). somehow the whole COV thing got lost in translation and it now became a "right" of the seller. But being spore, this was always gonna happen... if we look at ourselves - we are the type of nation whereby priviledges become expectations and entitlements... let's admit to that.
anyway my point is simple... u need a HDB, u buy one. COV is something u can choose to reject... just becos everyone ask for it, does not make it something u have to accept. certainly not 40-50k... i would think 5-10k is ok, anything Above has gotta be for things like 'newly-renovated', 'superb city/sea view' and other things which Cannot be bought.
sadly, neither agents nor buy/sellers are trained in the art of negotiation nor need to self-regulate one's own conscience and reason. it is for this reason that i have decided to move beyond HDBs and go into private. if i was given a choice, i actually prefer the HDB communal living... it's where my roots started from and i love having neighbours to say hello to every morning... going to ntuc and provision shops and market with all the familiar faces... u Grow Old together as a community...
91 and 96sqm... well, not a major issue, but u have to check out on the parking... It is a good bustle around there, u can still find cheap food, and it's overall very nice to hang around, exception being If u drive - u need patience. u know, holland v used to be so different. has one of the best char kway tiao just across from where coffee bean...
1stly, it is the most basic housing which is almost a rite of passage for 70%(?) of us when we are ready to settle down. it is entry-level which is affordable to almost everyone, barring the COV component which is man-made and often greed-based.
2ndly, the ability for us to use our CPF to cover a large portion of the initial outlay would make it a very viable option. again, barring the COV cash component.
3rdly, the servicing via CPF would require almost no cash top-up component, thus allowing most of us to Safely buy one, without fear of losing.
personally, i Would Never play the waiting game to purchase a HDB if i Need one. it is Not a private property where prices are substantial... what happened in the last 5yrs was that HDB prices CORRECTED Up... if u agree it is 'A Correction', then waiting for it to come down, is like waiting for the country to make 'A Mistake'. the prices today are maybe inflated by 10-15%, and that is found in the stupid COV cash component.
the origin of COV can be argued, but if i remember, it was meant to be mutually-benefitting. ie whereby couples get a 30k grant for staying near parents, and the benefit to those who sold them such flats - got a cut of this 30k grant, maybe 10k or 15k (half). somehow the whole COV thing got lost in translation and it now became a "right" of the seller. But being spore, this was always gonna happen... if we look at ourselves - we are the type of nation whereby priviledges become expectations and entitlements... let's admit to that.
anyway my point is simple... u need a HDB, u buy one. COV is something u can choose to reject... just becos everyone ask for it, does not make it something u have to accept. certainly not 40-50k... i would think 5-10k is ok, anything Above has gotta be for things like 'newly-renovated', 'superb city/sea view' and other things which Cannot be bought.
sadly, neither agents nor buy/sellers are trained in the art of negotiation nor need to self-regulate one's own conscience and reason. it is for this reason that i have decided to move beyond HDBs and go into private. if i was given a choice, i actually prefer the HDB communal living... it's where my roots started from and i love having neighbours to say hello to every morning... going to ntuc and provision shops and market with all the familiar faces... u Grow Old together as a community...
91 and 96sqm... well, not a major issue, but u have to check out on the parking... It is a good bustle around there, u can still find cheap food, and it's overall very nice to hang around, exception being If u drive - u need patience. u know, holland v used to be so different. has one of the best char kway tiao just across from where coffee bean...
Milo,
i would assume u are eligible to rent out your flat? basically after u settled on the price, u can draft out an agreement and get it stamped (abt $96). your tax should be the same as private - 10% instead of 4%... i rented out my HDB for 1yr and extended another... got it approved and stamped both times. Glad u're not taking the 'illegal' route... no point saving the $96. mine is based on renting out the whole unit... for room-rental i am uncertain.
actually not all housing agents are familiar hor...
i would assume u are eligible to rent out your flat? basically after u settled on the price, u can draft out an agreement and get it stamped (abt $96). your tax should be the same as private - 10% instead of 4%... i rented out my HDB for 1yr and extended another... got it approved and stamped both times. Glad u're not taking the 'illegal' route... no point saving the $96. mine is based on renting out the whole unit... for room-rental i am uncertain.
actually not all housing agents are familiar hor...
mum_of_2_girls
New Member
Hi,
My tenants sold their HDB at a good price and rented our 1st place. They are also playing the waiting game. They intend to wait till the price come down.
Hi Milo,
Do you intend to rent out your place without the help of housing agents?
Can you share some tips?
I'm not so capable so have to depend on housing agent, end up have to pay the very expensive comission to the agent for a 30min job.
My tenants sold their HDB at a good price and rented our 1st place. They are also playing the waiting game. They intend to wait till the price come down.
Hi Milo,
Do you intend to rent out your place without the help of housing agents?
Can you share some tips?
I'm not so capable so have to depend on housing agent, end up have to pay the very expensive comission to the agent for a 30min job.
There is no need for agent for rental..
You need the agent to get you people to rent your unit. If you can find people to rent your unit.. then no need to pay commission.
Please note if you advertise, you will get a lot of agents calling you. So at times it may be difficult.
You need the agent to get you people to rent your unit. If you can find people to rent your unit.. then no need to pay commission.
Please note if you advertise, you will get a lot of agents calling you. So at times it may be difficult.
mum_of_2_girls
New Member
Hi,
Please don't tease me when I suggest the waiting game.
Since most of us are young, this is advantagous.
I have been waiting all the time.
I waited 5 yrs for the 1st place (1996-2001) and 7 yrs for the 2nd place (2002-2009) and now still waiting again. I'm sure Powder is also waiting, right?
Please don't tease me when I suggest the waiting game.
Since most of us are young, this is advantagous.
I have been waiting all the time.
I waited 5 yrs for the 1st place (1996-2001) and 7 yrs for the 2nd place (2002-2009) and now still waiting again. I'm sure Powder is also waiting, right?
miloice
Well-Known Member
Albee, if you can find your own tenants, there is no need to pay the commission to employ the services of agents. Or if any of your family or friend is an agent. You might want to go thr them.
About the waiting game, I believe they are waiting for the private property market to soften instead of the HDB. I got my flat at a really good price back in 2005. There is little incentive to sell now, as I could probably cash in if I rent it out while waiting.
About the waiting game, I believe they are waiting for the private property market to soften instead of the HDB. I got my flat at a really good price back in 2005. There is little incentive to sell now, as I could probably cash in if I rent it out while waiting.
me ah? for 1st HDB to Stay - i dun believe in waiting cos it's a different thing altogether... more a need.
for 1st private property to stay - yes have to buy at the right price/time.
for any other properties that is for investment or buying for the sake of buying... i look all year round 24/7... currently i have already set a target-month to buy my next property and am narrowing on the purpose first... whether rental or capital.
'the right time' is a word that i dun believe in becos IF u catch the right house at the wrong time - it's still the right time. each property is owned by different human beings with different reasons for selling, and who bought at different initial prices... IF u're waiting for 'the right time', u are basically waiting for the herd-owners to decide to sell at Your price... which is Everyone's price... by then, u have herd-buyers. i dun wanna buy when 9 other pple wanna buy... it defeats the purpose of holding Money when u have to still follow the general sentiments.
of cos, can dun buy also... just becos someone ask for 1million, does not mean u cannot offer 800k. just becos 10 sellers ask for 1million thru 20 agents - does not mean the place is worth 1million. it could mean u have 10 greedy owners who wants to make a quick buck, and 20 agents who know nuts and just wanna earn commission...
i just need that 1 owner who bought his unit at 500k, and who understands that 1million is Not a reasonable amount... who might agree to sell me at 850k.
for 1st private property to stay - yes have to buy at the right price/time.
for any other properties that is for investment or buying for the sake of buying... i look all year round 24/7... currently i have already set a target-month to buy my next property and am narrowing on the purpose first... whether rental or capital.
'the right time' is a word that i dun believe in becos IF u catch the right house at the wrong time - it's still the right time. each property is owned by different human beings with different reasons for selling, and who bought at different initial prices... IF u're waiting for 'the right time', u are basically waiting for the herd-owners to decide to sell at Your price... which is Everyone's price... by then, u have herd-buyers. i dun wanna buy when 9 other pple wanna buy... it defeats the purpose of holding Money when u have to still follow the general sentiments.
of cos, can dun buy also... just becos someone ask for 1million, does not mean u cannot offer 800k. just becos 10 sellers ask for 1million thru 20 agents - does not mean the place is worth 1million. it could mean u have 10 greedy owners who wants to make a quick buck, and 20 agents who know nuts and just wanna earn commission...
i just need that 1 owner who bought his unit at 500k, and who understands that 1million is Not a reasonable amount... who might agree to sell me at 850k.
mum_of_2_girls
New Member
Hi Milo,
I placed an advert in the papers. Only 2 people who are not agents responsed to the advert and they never turn up for viewing. The rest were all agents.
My friend and relative who are agents, specialise in other residential areas, can't help much.
In the end, no choice, I had to open my house for viewing for all the agents.
I managed to rent it out within a week.
Hubby said it's because I looked cute but I think it's the powerful network of the agents.
Milo, it looks like I have to depend on the agents again for future rental.
My tenancy is expiring soon.
Do you have any great suggestions that can help me save the commission?
Thanks.
I placed an advert in the papers. Only 2 people who are not agents responsed to the advert and they never turn up for viewing. The rest were all agents.
My friend and relative who are agents, specialise in other residential areas, can't help much.
In the end, no choice, I had to open my house for viewing for all the agents.
I managed to rent it out within a week.
Hubby said it's because I looked cute but I think it's the powerful network of the agents.
Milo, it looks like I have to depend on the agents again for future rental.
My tenancy is expiring soon.
Do you have any great suggestions that can help me save the commission?
Thanks.
yea, for now and in the long run... the waiting game entails more to the private properties, def not HDB - but still i don't expect much of a drastic change with the ever-increasing private developments....
so Albee, i dunno what kind of waiting game your tenants are playing, and how to save the commission if you are seeking the help of agents.
but your hubby might be right, you know. your cute looks might just scrap it.
so Albee, i dunno what kind of waiting game your tenants are playing, and how to save the commission if you are seeking the help of agents.
but your hubby might be right, you know. your cute looks might just scrap it.
Albee, you wait one month to source for a tenant by yourself, you would have wasted one month's rent which you would otherwise have paid for agent's commission for two years of tenancy.
dont be penny-wise pound-foolish especially when you are pretty clueless, if i may say, how to start?
dont be penny-wise pound-foolish especially when you are pretty clueless, if i may say, how to start?
sgbabydoll
Active Member
Albee, I did not tease you. I was seriously asking you wait till when, when the very recent economic downturn did not bring housing prices down.