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Property Advice On Buying / Selling (Compiled)


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Thread started by: redken

Posted: February 15, 2008 11:17 pm

Its about time for me to think about staying out. I don't qualify for a HDB, so have to get an affordable private one. Property price went up, some say will go up even further? Any experts in property that can share whether good to look around now?

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Comment 01: citiguy

Posted: February 15, 2008 11:29 pm

Not an expert but i thought the property market is cooling? People are tightening their belts for fear of economic downturn and with the garhman postponing some of their projects to cool the mkt, so don't think property prices will go up.

Banks would prob be more cautious about lending home loans to people now. So, this will prob also help to cool the market.

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Comment 02: gc0805

Posted: February 16, 2008 03:43 am

have u considered a resale hdb. its good value for money, even if the prices have gone up a bit.

i have lived in my condo for ten years. never use pool or gym for ten years, but have been bleeding from mortgage n maintenance for these ten yrs. its such an unnecessary and burdensome liabilty.

i am looking for a good resale hdb now.

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Comment 03: cowwie

Posted: February 16, 2008 04:11 am

imo.. property prices will be going into a flatline soon.. think property prices still might go up abit but me and my frens are thinkinging prices will start going down towards the end of the year

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Comment 04: enjoylife77

Posted: February 16, 2008 05:00 am

Both HDB and pvt prices have already slide down from its peak and can expect the downtrend to continue . Many speculators/specuvestor have already unloaded quietly or in the process of unloading. Some options have lapsed even in choice location. There will be many T.O.P. in Q4 08 and beyond.

All signs are here.

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Comment 05: DirtyOldMan

Posted: February 16, 2008 09:29 am

Instead of buying property, you would rather go and buy PLATINUM, the price is spoaring everyday. It is fas. Go buy Platinum and make a huge amount from it then use it to buy property, you can buy the property cash with the profits.

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Comment 06: fortysumthing

Posted: February 16, 2008 01:53 pm

Went flat viewing this morning for resale HDB. One of them at Lavendar Garden has a really cute cubby owner. Maybe I should go back to view the flat (and owner) more often but he is asking for quite a fair bit above possible valuation.

Maybe I should wait till later part of the year as suggested by some of you here ...

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Comment 07: k13v

Posted: February 16, 2008 02:01 pm

Yeah i agree, now the price has not really drop. Current market is still in a quite moment. Let see what will happen in 1 more quarter

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Comment 08: redken

Posted: February 17, 2008 04:21 am

(DirtyOldMan @ February 16, 2008 09:29 am)

Instead of buying property, you would rather go and buy PLATINUM, the price is spoaring everyday. It is fas. Go buy Platinum and make a huge amount from it then use it to buy property, you can buy the property cash with the profits.

Platinum as in commodity trading? How to open account and to learn the secrets of trading? I would need lots of advices for a newbie like me.

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Comment 09: hornyme

Posted: February 17, 2008 12:39 pm

(redken @ February 17, 2008 04:21 am)
(DirtyOldMan @ February 16, 2008 09:29 am)

Instead of buying property, you would rather go and buy PLATINUM, the price is spoaring everyday. It is fas. Go buy Platinum and make a huge amount from it then use it to buy property, you can buy the property cash with the profits.

Platinum as in commodity trading? How to open account and to learn the secrets of trading? I would need lots of advices for a newbie like me.

basically i don't think it's a good time to buy properties now,since the property market is basically cooling and it takes some time for it to go ga-ga once more.

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Comment 10: mparade

Posted: February 17, 2008 02:06 pm

Hi there,

It is always a good time to buy, depending on what you need and what kind of lifestyle you want.

Buying a house is a emotional thing... you got to like it and ask yourself how you want to live.

In any case, I am in the property line and I may be biased. However, if you are really really interested, do PM me...

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Comment 11: Tight Ass

Posted: February 17, 2008 08:29 pm

(mparade @ February 17, 2008 02:06 pm)

Hi there,

It is always a good time to buy, depending on what you need and what kind of lifestyle you want.

Buying a house is a emotional thing... you got to like it and ask yourself how you want to live.

In any case, I am in the property line and I may be biased. However, if you are really really interested, do PM me...

I agree, choosing a house is like choosing a bf. House can last you till you die but bf can quit half-way. So be careful when buying house because you are eating, sleeping and shitting there all your life.-- including fxxking sometime biggrin.gif

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Comment 12: hornyme

Posted: February 17, 2008 09:53 pm

(Tight Ass @ February 17, 2008 08:29 pm)
(mparade @ February 17, 2008 02:06 pm)

Hi there,

It is always a good time to buy, depending on what you need and what kind of lifestyle you want.

Buying a house is a emotional thing... you got to like it and ask yourself how you want to live.

In any case, I am in the property line and I may be biased. However, if you are really really interested, do PM me...

I agree, choosing a house is like choosing a bf. House can last you till you die but bf can quit half-way. So be careful when buying house because you are eating, sleeping and shitting there all your life.-- including fxxking sometime biggrin.gif

good one,tightass.

But I thought we're referring to buying extra properties for commercial/biz purposes

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Comment 13: DirtyOldMan

Posted: February 17, 2008 10:46 pm

Buying an extra property will need a lot of cash, unless one is very rich....

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Comment 14: GKS

Posted: February 17, 2008 11:13 pm

Sound financial Plan and execute your plan. Look for a good location.

Click Here To Visit My Blog @ "The Blessed Life"

*Let me live my life to be an instrument of 'Love', in how I speak and in how I see others*

- May there be Love and Peace beyond all understanding -

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  • 2 years later...
Guest travis

i m currently staying in a 4 room with my parents - i m thinking of upgrading to a condo (hoping to have better lifestyle for my parents)

but as i just started working for less than 5 yrs.. i m quite sure i wun be eligible for a loan amt of more than 1 mil...

i seriously dun mind working harder for my parents to have a better life...

(i m not saying dat hdb is not good life)

but as my father couldn't walk properly.. and some hdb neighbours are juz not so 'educated' and friendly... - i dun wish to elobrate

anyway - does anyone have any lobang of condos ( 2 bedrooms (but not too ulu areas) - dat have the basic condo facilities - swimming pool/gym/sauna...

and cost less than 1mil....

if got.. pls contact me... thanks =)

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i m currently staying in a 4 room with my parents - i m thinking of upgrading to a condo (hoping to have better lifestyle for my parents)

but as i just started working for less than 5 yrs.. i m quite sure i wun be eligible for a loan amt of more than 1 mil...

i seriously dun mind working harder for my parents to have a better life...

(i m not saying dat hdb is not good life)

but as my father couldn't walk properly.. and some neighbours are juz not so 'educated' and friendly... - i dun wish to elobrat

anyway - does anyone have any lobang of condos ( 2 bedrooms (but not too ulu areas) - dat have the basic condo facilities - swimming pool/gym/sauna...

and cost less than 1mil....

if got.. pls contact me... thanks =)

难得孝顺喔...........

但摸摸自已的良心.........你是为自己而upgrade还是真心为父母亲(现屋子应属于你父母亲吧)

你所要的那些设施都是为了自已.......

况且现在的祖屋....很多都有电梯直达....而且住在祖屋区的人并不是你想像中的那么差

不要自己做贼且一直喊别人捉贱............!

Edited by robin64
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Guest travis

nono.. u misunderstood le...

just want to sell the current flat. so my parents will have some cash in hand.

i will be buying the condo under my name and asking them to stay with me...

so they can have better life

and NOT ALL hdb flats have lifts....

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I hope I am not misunderstood here....

You want your parents to sell their HDB flat and give you the money to pay for a new condo? As you've mentioned, you had only worked for 5 years and this means, you may not have enough in your CPF/personal savings to fulfill the dream.

I think you got to take a step at a time.

Personally, I dont think it is a wise move to ask your parents to give up their HDB flat. They had worked hard for it and it should remain as theirs and not for you to "borrow". What is wrong with HDB flat, except for the so-called status. I do hope you have worked out the "unseen" payment - like management fees, stamp fees, yearly taxes etc.

The onus (and the risk) is yours. Try to live within your means - what happened if you lose your "main" job - will there be enough money to pay the mortage? Do you have any money left for that annual vacation, MBA etc?

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Guest travis

I hope I am not misunderstood here....

You want your parents to sell their HDB flat and give you the money to pay for a new condo? As you've mentioned, you had only worked for 5 years and this means, you may not have enough in your CPF/personal savings to fulfill the dream.

I think you got to take a step at a time.

Personally, I dont think it is a wise move to ask your parents to give up their HDB flat. They had worked hard for it and it should remain as theirs and not for you to "borrow". What is wrong with HDB flat, except for the so-called status. I do hope you have worked out the "unseen" payment - like management fees, stamp fees, yearly taxes etc.

The onus (and the risk) is yours. Try to live within your means - what happened if you lose your "main" job - will there be enough money to pay the mortage? Do you have any money left for that annual vacation, MBA etc?

aiyoh.. is my english that poor??

hmm... i said, my parents to sell the current hdb flat.. so they will have cash in hand....

my dad cant walk it is very inacessible)... there was once - some kids were playing at the void deck, and hit the soccer ball at my dad...

my dad fell and the kids juz ran away....

there are lots of stairs leading to my hdb blk.. and it takes my dad 30 seconds to walk up a step....

haiz... u guys juz dun understand... i wanna move into a condo (coz i visted my friend's condo during the CNY.. and i find the environment very suitable...

the kids are not so rowdy... there are place for both my mum n dad to relax.... (swimming pool) - in which my dad can also maybe do his therapy in the pool

all i want is to let my parents have better life before they leave this world...

i have NO intention of asking them to pay up the condo... that is why i asked for a condo that is less than S$1mil

i hope that after my parents sell their flat - they will have spare cash in hand (my dad is in his mid 70s)- and due to his health.. i m worried.. i wun b able to foot any hospital bills if anything bad happens...

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Ok you got a point thinking that the condo environment is much better for him.

Is he invalid? Does he need to seek medical advice/check up regularly?

You see, my aged mom is wheel-chaired bound and I live on that floor without a lift lobby. It does not make things easy for me but I still manage to bring her down (with the help of my wonderful domestic helper) for breakfast and a little "stroll" every Sunday morning.

It is good for you to think for them but have you think for yourself? Can you ready afford it - are you ready to face the reality of "mounting" bills? Are you ready to forgo the basic "luxuries" in your life?

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nothing is more important than my parents's well being....

i can suffer but i do not want my parents to suffer

Very noble and filial.

But wait, do you want them to see you suffer... older people dont have much wants. All they need is to see you have a good life. God Bless.

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Guest HDB Hub

Condos located in the neighbourhood areas are located far away from amenities, unless you are willing to pay a high price.

If your neighbours are affecting the well being of your dad, why not consider moving to another HDB estate? Alternatively, you can pay for the housing loan and your dad can still have the cash from selling the current unit.

If you prefer condo, you need to work out how much you are willing to pay for the 20% down payment, excluding stamp duty. In addition, you should have 6-12 months of (salary) savings in case of retrenchment. You need to consider the maintenance fees too.. usu 200+ per month for 2-rooms.

Abang and other members are trying to help you so that you will not sink into any financial difficulties. Ultimately, the decision is yours.

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Guest Saint

nothing is more important than my parents's well being....

i can suffer but i do not want my parents to suffer

Did they agree with your decision? If everyone in the family approve and is mutual about it, than go ahead lor. Nobody here should dissapprove things you want to do and have your parents support. If you parents do not support it, than you better think twice, buying a condo is a lifetime committment and you may not have time to take care of your parents with hefty bill. Financial burden can be family burden too. Happiness are achieved in many ways and not just materialistic enjoyment.

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hi 'travis ' be very careful about your loan commitment and finances b4 commiting to buy a condo which can tie you down tro your life.

I agree with 'abang' saying that you should not ask your parents to sell their condo.

Since you have no intention to use the HDB proceeds to pay for the condo downpayment etc , it is wiser to rent out the HDB flat ( instead of selling it ) so that your parents have a monthly income and at the same time keeping their 'property ' asset. Also the monthly rentals from the flat can help you to engage a maid to look after your parents. And if there is anything happen to you or your job which affects your ability to service the condo , the HDB can still be a backup.

If you think of selling your parents' flat and then use this money for their medical etc , then it is an unwise move. This is because such savings will be drained away owing to the high medical bills nowadays and also private property dwellers get no or very minimal subsidy from the Govt. Instead you should be thinking of using your medisave or theirs( if any ) to pay for their medical bills or use the excess of the monthly rental HDB flat to pay for such expenses.

What abang said is right , you should not deprive yourself of any basic luxuries and become a slave of a property - ie you become an worker of the bank - servicing your loan and feeding the bank with the interests! Belive me even if it's 2% of interst , almost half of your mthly instalment will be used to pay the interest .

I had been at that stage , which i hv to fork out abt 1/3 of my pay for the housing loan and I have no sense of security at that time and after some time i feel so deprived of a good and comfortable life. Thank God , owing to some circumstances , I am able to free myself of the property and manage to downgrade to a smaller property. Now , I feel more secured and free and can enjoy life better and I have more money to give my parents too :-) So think twice before you commit.

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Guest travis

hi 'travis ' be very careful about your loan commitment and finances b4 commiting to buy a condo which can tie you down tro your life.

I agree with 'abang' saying that you should not ask your parents to sell their condo.

Since you have no intention to use the HDB proceeds to pay for the condo downpayment etc , it is wiser to rent out the HDB flat ( instead of selling it ) so that your parents have a monthly income and at the same time keeping their 'property ' asset. Also the monthly rentals from the flat can help you to engage a maid to look after your parents. And if there is anything happen to you or your job which affects your ability to service the condo , the HDB can still be a backup.

If you think of selling your parents' flat and then use this money for their medical etc , then it is an unwise move. This is because such savings will be drained away owing to the high medical bills nowadays and also private property dwellers get no or very minimal subsidy from the Govt. Instead you should be thinking of using your medisave or theirs( if any ) to pay for their medical bills or use the excess of the monthly rental HDB flat to pay for such expenses.

What abang said is right , you should not deprive yourself of any basic luxuries and become a slave of a property - ie you become an worker of the bank - servicing your loan and feeding the bank with the interests! Belive me even if it's 2% of interst , almost half of your mthly instalment will be used to pay the interest .

I had been at that stage , which i hv to fork out abt 1/3 of my pay for the housing loan and I have no sense of security at that time and after some time i feel so deprived of a good and comfortable life. Thank God , owing to some circumstances , I am able to free myself of the property and manage to downgrade to a smaller property. Now , I feel more secured and free and can enjoy life better and I have more money to give my parents too :-) So think twice before you commit.

so i assume u moved to a smaller condo?

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Guest travis

Condos located in the neighbourhood areas are located far away from amenities, unless you are willing to pay a high price.

If your neighbours are affecting the well being of your dad, why not consider moving to another HDB estate? Alternatively, you can pay for the housing loan and your dad can still have the cash from selling the current unit.

If you prefer condo, you need to work out how much you are willing to pay for the 20% down payment, excluding stamp duty. In addition, you should have 6-12 months of (salary) savings in case of retrenchment. You need to consider the maintenance fees too.. usu 200+ per month for 2-rooms.

Abang and other members are trying to help you so that you will not sink into any financial difficulties. Ultimately, the decision is yours.

below 35 can buy hdb flat meh?

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Guest travis

a piece of advise to u. never work for the house . let the house work for u.

but u definitely have to work hard for a house, before the house can work for u...

unless u r lucky to be inherited with a house

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hi Travis,

This are your objectives:

- "all i want is to let my parents have better life before they leave this world... "

- "i hope that after my parents sell their flat - they will have spare cash in hand (my dad is in his mid 70s)- and due to his health.. i m worried.. i wun b able to foot any hospital bills if anything bad happens..."

You must really plan and think through:

1) Why is there a need to have the spare cash in hand now?

-If you are letting them spend the money now, then they wont have money during rainy days, which defeats your original intention.

-If you intend to invest with the money, Fixed Deposits is paying 1 to 2% per year. Other type of investments - are you good at them? Keeping the HDB is definitely better, it will appreciate faster. If not, rent out. If they are sick and you have proof, HDB may let them sublet the whole flat while they stay with you - check with HDB. Then you use the rent as their SPARE CASH.

2) RISK! I think you are exposing yourself and your parents to too much risk.

- Check with bank how much they are willing to lend you. You must be sure that your job is stable. Once you cannot pay up the interest, the bank is not going to do charity. My friend was forced to sell his terrace because he lost his job and can't pay the interest. He lost more then $100,000.

- Most of your monthly payment will NOT be used to pay the capital you borrowed from the bank. You will find that most of what you paid went to the bank interest. After years and years, the capital sum seems to decrease only a little. I read from papers previously (you may be able to google it), borrower would have pay 30 or 40% interest when the loan is finally cleared (meaning you paid $700,000 for $450,000 you borrowed...)

- Bank lends you a certain sum based on the CURRENT valuation of your INTENDED condo. If you condo falls in price, Bank may ask you to top up the difference! say now the Condo is $600k, next time drop to $500k, you have a loss of $100k, the bank will ask you to top up! Where are you going to get the money? You know what they will do if you can't pay up. By then it maybe worse for your parents.

3) Expenses

- Monthly maintenance and bank loan interest etc, adds up to thousands. Not sure how much you are making but you will be CASH POOR because you for to PAY PAY PAY. You could have used this money to let your parents go for tours, eat at good restaurants, save for their medical bills etc....

- Renovation etc. If you are buying new ones then probably only need minimum reno + furniture. If 2nd hand condos, reno maybe higher. Furniture still cant run away.

I am sure there are alternatives to condo. Moving to a better estate, a bigger HDB flat (usually those 5 rooms, ECs the neighbourhood may be better)?

Best wishes

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Guest Guest

oh, not to forget you dont get any rebates etc when govt gives ang pao.

And

my friend told me she itchy bought a condo, then after that she was always in worry - afraid that she cannot pay up the loan and losing her job. Her boss nasty to her she also LAN LAN because she has to think of her condo. She said she felt so much pressure and wasn't happy at all! In the end she went back to HDB, now she said at least she can sleep peacefully at night.

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You just want to upgrade to a condo but you seem quite clueless about so many details.

Since you mentioned that you had only worked few years, then sit down and do your sums first!

How much is your worth now?

The bank is most interested in this question before deciding extending you the loan.

Your occupation, your position, your company, your family background all matters here!

Check out how much you have on hand for the initial downpayment.

Check out how much can you borrow and the installment schedule; talk to all the banks to look for the best deal.

Once you have the answers, you will know what is the maximum amount you can afford for a condo unit, then you shop around for one within this price range.

Do the first thing first!

Otherwise is all waste of time, yours and ours.

Edited by applepie
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Guest travis

hi Travis,

This are your objectives:

- "all i want is to let my parents have better life before they leave this world... "

- "i hope that after my parents sell their flat - they will have spare cash in hand (my dad is in his mid 70s)- and due to his health.. i m worried.. i wun b able to foot any hospital bills if anything bad happens..."

You must really plan and think through:

1) Why is there a need to have the spare cash in hand now?

-If you are letting them spend the money now, then they wont have money during rainy days, which defeats your original intention.

-If you intend to invest with the money, Fixed Deposits is paying 1 to 2% per year. Other type of investments - are you good at them? Keeping the HDB is definitely better, it will appreciate faster. If not, rent out. If they are sick and you have proof, HDB may let them sublet the whole flat while they stay with you - check with HDB. Then you use the rent as their SPARE CASH.

2) RISK! I think you are exposing yourself and your parents to too much risk.

- Check with bank how much they are willing to lend you. You must be sure that your job is stable. Once you cannot pay up the interest, the bank is not going to do charity. My friend was forced to sell his terrace because he lost his job and can't pay the interest. He lost more then $100,000.

- Most of your monthly payment will NOT be used to pay the capital you borrowed from the bank. You will find that most of what you paid went to the bank interest. After years and years, the capital sum seems to decrease only a little. I read from papers previously (you may be able to google it), borrower would have pay 30 or 40% interest when the loan is finally cleared (meaning you paid $700,000 for $450,000 you borrowed...)

- Bank lends you a certain sum based on the CURRENT valuation of your INTENDED condo. If you condo falls in price, Bank may ask you to top up the difference! say now the Condo is $600k, next time drop to $500k, you have a loss of $100k, the bank will ask you to top up! Where are you going to get the money? You know what they will do if you can't pay up. By then it maybe worse for your parents.

3) Expenses

- Monthly maintenance and bank loan interest etc, adds up to thousands. Not sure how much you are making but you will be CASH POOR because you for to PAY PAY PAY. You could have used this money to let your parents go for tours, eat at good restaurants, save for their medical bills etc....

- Renovation etc. If you are buying new ones then probably only need minimum reno + furniture. If 2nd hand condos, reno maybe higher. Furniture still cant run away.

I am sure there are alternatives to condo. Moving to a better estate, a bigger HDB flat (usually those 5 rooms, ECs the neighbourhood may be better)?

Best wishes

ECs are highly priced too.. ard 700 - 800K

somemore not much value as compared to condos...

so WHERE is a better estate?

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ECs are highly priced too.. ard 700 - 800K

somemore not much value as compared to condos...

so WHERE is a better estate?

I think a better question is HOW MUCH is your budget?

Based on your budget then you can decide, freehold, 99yrs / central or wulu wulu area / got facility or no loh........

you just ask a general statement - which is a better estate, I can tell you district 9, 10, around Novena, Oxley, Orchard, Holland, but they are very very EX! My friend's place is within walking distance to LKY, she feels very safe walking home even after midnight. But more than 1 mil for 2 rooms.

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Guest Guest

For your case, moving to a $ million condo is highly risky. If your plan does not materialise according to your vision few years down the road, you will need to spend alot of time seeking help from your MP.

You should consider moving to a newer HDB estate like Sengkang or Punggol 21 as this flats already have lift that stop on all level. If you prefer mature estate, there are plentiful to choose as the lift upgrading program is progressing well with many old flats have lift installed and running.

Think long term and dont take unnecessary risk. Many factors are at play and your dream of a better life for your parents can turn into your worst nightmare.

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Guest HDB Hub

below 35 can buy hdb flat meh?

You and your dad can apply/ purchase the HDB flat together. You can pay for the mortgage while your dad can have the cash from selling the current unit.

In addition to your monthly income savings, I believe the bank evaluate your debts like credit cards and other financial commitments like insurance and car. Given the current financial situation, banks are more cautious when it comes to approving housing loan.

Go for Novena area since it is central and near TTSH. You need not worry too much in case of emergency. Anyway, based on your replies, it seems you have set your mind on getting a condo. So a HDB is out of your scope. Good luck and happy searching for a new house!!

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i m currently staying in a 4 room with my parents - i m thinking of upgrading to a condo (hoping to have better lifestyle for my parents)

but as i just started working for less than 5 yrs.. i m quite sure i wun be eligible for a loan amt of more than 1 mil...

i seriously dun mind working harder for my parents to have a better life...

(i m not saying dat hdb is not good life)

but as my father couldn't walk properly.. and some hdb neighbours are juz not so 'educated' and friendly... - i dun wish to elobrate

anyway - does anyone have any lobang of condos ( 2 bedrooms (but not too ulu areas) - dat have the basic condo facilities - swimming pool/gym/sauna...

and cost less than 1mil....

if got.. pls contact me... thanks =)

Hi!

Currently, $800k is about what it takes to live in a nice 2BR condo. If you wanna stretch it, perhaps $900k. If you want, I can source and recommend quite a few for you. The newer developments tend to be smaller. The slightly older developments have sizes that're about 1000 sq ft to 1100+ sq ft, which is a comfortable size.

Or perhaps you can take a quick look at Property Guru =)

Regards.

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I live in a 4A type of HDB unit at Potong Pasir.

It has its own village feel and the MRT station is merely a few minutes away.

The unit is about 1040 square feet/104 square metres and it is adequate for 3 to 5 dwellers.

However, if you want to fork out $800K to "downgrade" your dispensable income into a private unit of the same size, then aint you asking for trouble? Yes the property will definitely appreciates its value but since you have to service the loan, is your lifestyle and enjoyment compromise?

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Hi Travis, does staying in condo provides your parents with better lifestyle? Is it your opinion or theirs. I am staying in condo for so many years, you will be surprised that some of the HDB flats void deck r much cleaner than my condo..I am not saying all condo r dirty but there r some looks like HDB flats..too.. Also some condos r not so hadicap proof although all have lifts landing on each floor. There r childrens playing around void deck or garden areas too so the balls may also hit your parent... worst..some r very arrogant... You need to think whether shifting to condo will result in your parent being more lonely than staying in HDB because most people in condo ( atleast mine) dont mingle especially with old folks..

Amenities??? what sort of amenities r u looking? for yourself or parents?? Those like gym or swimming pools.... r not suitable for yr parent unless u have someone escorting them to the pool or while they r in the pool since yr dad is having some health problem.. Most condo gym n pool r small anyway... there r only a handful of olympic size pools condo in singapore ( mandarin garden, kensington..etc)

Some singaporeans r particular about status (showing off (condo sounds better than HDB..n I am not referring to u)).

Anyway, check with your parent first before deciding..Most likely they don't want to move ( old people don't like to move around if possible... the old dialect sayings" stay good good while move..). Actually staying in HDB has also good lifestyle . Now new estates have alot of good amenities too. Toa payoh garden, nice area... Sengkang park also very nice area...how about punggol. YOu don't need to stay in condo inorder to enjoy good lifestyle..and most already have lifts landing to each floor. So u can consider sell the existing flat and upgrade to a resale flat using yr parent's name n yours...

If u already make up you mind (can see from yr reply to other BWers..) then please go ahead n source for condo.. please remember that besides paying the monthly loan, u still have to pay the condo maintenance feees i.e easily few hundreds dollars.. more facilities n lesser units pay more...etc..If there is upgrades... sometimes insufficient sinking funds will force u to pay more..etc..

Anyway, now not the right time to buy..la..

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Guest guest

I really wonder...

How much do I have to earn in order to own a condo?

What's the steps of getting a condo and what are the calculation and financing are we looking at?

Any kind gay property agents care to share?

wat woodland condo . novena condo all rubbish. banks have all the say until yr loan is approve than come to next step which is search. from now can only dream of the status, the private pool and private gym and the cute guys admiring wow condo sia.

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Guest Guest

staying in a condo is a form of better life? haha

well if u can afford condo and at the same time provide them with good food, pocket money and also holiday travelling expenses...then i consider good life.

if they need to scrimp one day just for u to pay off condo, i dont see how better their life will be.

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Guest angry

staying in a condo is a form of better life? haha

well if u can afford condo and at the same time provide them with good food, pocket money and also holiday travelling expenses...then i consider good life.

if they need to scrimp one day just for u to pay off condo, i dont see how better their life will be.

dun be such a cynic. what makes you think that he can't afford it? u're full of ass-umptions. it is irritating assholes like you who obviously pick on others while defending that it's the truth, or that it is your opinion and that you have the rights to it. no doubt it is so, but it still doesn't mean that you're any less annoying and irritating.

fxxking cheebyes.

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Whatever it is, one must have at least 20% for down payment before you can start dreaming about it, next the loan must try to keep minimum as possible. My advise is if your loan is more than 400k or more, you have to do the maths first to see how much monthly payment you need to fork out for the loan and with other expenses like monthly maintenance of your condo, to see if you are comfortable with the amount you are servicing before you starts searching or looking for one, else staying at HDB may still be a good option.

Oh, please check interest rates for now and past to use as a gauge. :thumb:

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Guys this topic was started by TRAVIS and I believe we offer our opinions because we wanted to help him see the bigger picture. There is absolutely no need to call names here.

We are all responsible and rational adults who see/experience the danger of financial hardship at one point in our lives. So, Travis, please update us of the progress of procuring the CONDO accordingly.

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Guest Travis

I m sorry for causing so much 'heat'

anyway, thanks for the many advices...

I dunno if i have enough, so far my CPF hav abt 70K (i dont think all the $ can be taken out to purchase a condo)

Personal savings abt 50K

My monthly take home pay is abt 4.2K

Loan wise - i have a car - but only left iwth 2 more years of loan - every mth only abt $800

(of coz car = road tax, insurance, petrol, season parking - which is abt 7K/ year)

wat else u all need to know to access from here? =)

and pls dun argue anymore *peace*

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I really wonder...

How much do I have to earn in order to own a condo?

What's the steps of getting a condo and what are the calculation and financing are we looking at?

Any kind gay property agents care to share?

No need to ask any gay or str8 property agent.

Rule of the thumb, try not to exceed 35% of your total income on your housing needs.

So work backwards to see what you can afford.

Assuming you are about 35 yrs old now, earning about $60k/pa.

EG : Annual Income : $60,000+ CPF = $75,000

75K x 35% = $26,250 x 20yrs = $525,000

Factor in your annual increment/bonus/etc, you should be able to afford up to $600,000 - $650,000 with ease.

Anything higher will be stressful especially if you are the only contributor to the financing.

Also don't rule out possibility of any future financial crisis that might affect your job.

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I m sorry for causing so much 'heat'

anyway, thanks for the many advices...

I dunno if i have enough, so far my CPF hav abt 70K (i dont think all the $ can be taken out to purchase a condo)

Personal savings abt 50K

My monthly take home pay is abt 4.2K

Loan wise - i have a car - but only left iwth 2 more years of loan - every mth only abt $800

(of coz car = road tax, insurance, petrol, season parking - which is abt 7K/ year)

wat else u all need to know to access from here? =)

and pls dun argue anymore *peace*

Check you CPF account online to see how much you can utilise for housing from your balance and also from your monthly contribution!

But based on your current financial status, sorry to say, you might have to wait a few more years for your dream condo.

But no harm planning now, visit some banks when free to have a clear understanding on all financing matters.

Allow some freeplay, don't overstretch yourself to the limit.

Always think of housing loan as a long term debt, once in its not easy to get out without loses.

Edited by cock brand
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Guest search

Personal savings abt 50K

My monthly take home pay is abt 4.2K

wat u need now is a boyfiend to manage yr money. there might be a quene for u to interview them.china . malaysian or local ? yr preference?

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Guest guest007

wah . u r under 30 and earning this amt oreadi . take home 4K plus is a lot!

shd b more than most of the bw-ers here .

no ownder u hav the dream of a condo .

u r definitely a different league from most of the average singaporeans

(juz eg u straight and wanna get married - u will definitely not be eligiblr to buy a HDB flat too - uless yr wife is only earning below 2.5 K)

u will definitely be able to live yr dream - go search for one now .

dun let others dampen yr dream .

and just in case u r single - wan to let u know i m availble too .

haha

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i m currently staying in a 4 room with my parents - i m thinking of upgrading to a condo (hoping to have better lifestyle for my parents)

but as i just started working for less than 5 yrs.. i m quite sure i wun be eligible for a loan amt of more than 1 mil...

i seriously dun mind working harder for my parents to have a better life...

(i m not saying dat hdb is not good life)

but as my father couldn't walk properly.. and some hdb neighbours are juz not so 'educated' and friendly... - i dun wish to elobrate

anyway - does anyone have any lobang of condos ( 2 bedrooms (but not too ulu areas) - dat have the basic condo facilities - swimming pool/gym/sauna...

and cost less than 1mil....

if got.. pls contact me... thanks =)

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i m currently staying in a 4 room with my parents - i m thinking of upgrading to a condo (hoping to have better lifestyle for my parents)

but as i just started working for less than 5 yrs.. i m quite sure i wun be eligible for a loan amt of more than 1 mil...

i seriously dun mind working harder for my parents to have a better life...

(i m not saying dat hdb is not good life)

but as my father couldn't walk properly.. and some hdb neighbours are juz not so 'educated' and friendly... - i dun wish to elobrate

anyway - does anyone have any lobang of condos ( 2 bedrooms (but not too ulu areas) - dat have the basic condo facilities - swimming pool/gym/sauna...

and cost less than 1mil....

if got.. pls contact me... thanks =)

Hi, I'm property agent. Currently have 2 units of 2 bedrooms at "lakeshore"

5 mins to Lakeside MRT, good renovation, no westsun

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Guest guest

Don't decide for your parents.

Seek your parents opinion.

As far as I know, most old folks are reluctant to move, not even to a condo, cos they have all their friends around.

Think of all kinds of scenario, you just started working not long, not much $$,

If you take a loan, and what if you get retrenched due to cost cutting or whatever.

You cannot service the loan, your condo will be repossessed.

Possibly you will be declared a bankrupt, and your parents are now left without a home, not even hdb.

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Yes, think thrice before you act. Perhaps you should wait for good opportunity and be patience. You can't hurry or rush into buying property, cos it is a long term (may be lifetime for a $1 million loan) commitment, especially when you are taking loan from the bank.

Don't decide for your parents.

Seek your parents opinion.

As far as I know, most old folks are reluctant to move, not even to a condo, cos they have all their friends around.

Think of all kinds of scenario, you just started working not long, not much $$,

If you take a loan, and what if you get retrenched due to cost cutting or whatever.

You cannot service the loan, your condo will be repossessed.

Possibly you will be declared a bankrupt, and your parents are now left without a home, not even hdb.

learn to see the sparkle in others. not just the flaw.

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Guest supporter

by all means get a condo now! very sure u wun be able to afford it, if u dun get one now!!

property prices will cont to rise!

even many hdbs now cost 1/2 mil!

theose without foresight will juz rot and die!!!

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Guest guest009

wah . u r under 30 and earning this amt oreadi . take home 4K plus is a lot!

shd b more than most of the bw-ers here .

no ownder u hav the dream of a condo .

u r definitely a different league from most of the average singaporeans

(juz eg u straight and wanna get married - u will definitely not be eligiblr to buy a HDB flat too - uless yr wife is only earning below 2.5 K)

u will definitely be able to live yr dream - go search for one now .

dun let others dampen yr dream .

and just in case u r single - wan to let u know i m availble too .

haha

Hi. I am 44, makes abt 20k per mth, single and looking for someone to share my life.

Person must be straight acting, non-sissy and at least pleasant looking - i believe i have all these qualities.

This is not a joke. :)

Maybe travis and I shud hook up.... hehe

Thanks,

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Guest property agent

i m a property agent who earns abt 1 mil a year.. but i dun buy a condo...

i prefer to stay in a humble hdb flat...

in fact, many nice areas u can look into - sterling road, kim tian place, holland drive, shunfu road, clarence lane, farrer road (take not - not that farrer park)

these are the better estates in singapore - conveninet yet quiet...

of coz i wun encourage u to take u areas like tanjong pagar, duxton, cantoment - they are overpriced and ridiculously priced.... no point ot buy, u will never be able to 'make $ in the next 20- 30 yrs)

cheers,

PP

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Guest gc0805

this is my personal experience.

thirteen years ago, i was making 100k a year. i thought i could afford a condo comfortably n so decided to trade in my hdb flat for one . after living in the condo for ten years, i decided to move back into a hdb flat even though i was earning twice as much. why? 1stly, i was working so hard to support the condo i really didn't have much time to spend with my family or even use the facilities. 2ndly, i found nothing very special about living in a condo. most of the facilities it offered were available in private clubs. and location wise, some hdb flats are even more central than condos. my parents were actually very happy when we moved back into an hdb flat cos that's where they raised us. after cashing out, i didn't have to work so hard for the security. the extra cash i had at hand is now invested in a couple of carefully selected properties as investments for either rental returns or capital gains. i have been very blessed in my choices so far. in restrospect, i should have stuck to my hdb flat in the first place, and invested my money more wisely. i could have had a chance at financial independence at an earlier age. really, u want ur property to work for u n not the other way round.

so think very carefully before committing. the idea of "upgrading" to a condo may seem exciting n appealing now. but after a few years of repaying hefty loans, u may regret it.

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Hi. I am 44, makes abt 20k per mth, single and looking for someone to share my life.

Person must be straight acting, non-sissy and at least pleasant looking - i believe i have all these qualities.

This is not a joke. :)

Maybe travis and I shud hook up.... hehe

Thanks,

Wow, you make a good income per month. What is the nature of your profession? :unsure:

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