Why you sold your flat initially ?
Ya I also didn't know why I sold my cck. Previously my agent kept persuading me to sell to buy private condo and to quickly get into it. I kinda regret selling my mop hdb. But no time for regrets now just gotta do what I canWhy you sold your flat initially ?
You could have stay at in law's place and rented out your old hdb
what do you plan to do after the mop period for your next flat is up, stay ? or sell or ?? do you plan to have kids?
imo, if you are looking at rental, you should do your own research and calculate your rental yield (by seeing the rental $ for the area you are looking at) for city fringe vs tampines and decide from there
room rental is different from house rental though, because you have to absorb the utilities bills and conservancy charges unlike house rental, and depending on the lease left on the HDB, the value of the HDB is not going to appreciate so if you plan to sell, you will most likely make a loss as well
EC would be better i feel because the value of the EC will increase after your MOP, but it might be a headache for you since you mentioned you have health reasons, what if you need to stop work for a period of time, the rent you get from EC is most likely going to just cover your MC fee / utilities with just little bit left over for your loans
Indeed mayne not enough homework done. I actually with loan now can get a cheaper private condo that is not exceeding 900k or a ec that is about 600plus k. The loan amount given to us is not alot.Pokémon;110403164 said:TS had been asking about buying private property in recent months, and perhaps have not done enough to find out how much loan they could actually obtain for the new property, prior to selling the flat.
I guess now that the flat has been sold and while hunting for the new private property/EC, the loan could not get through as he would have expected, and therefore ended up in this situation.
Ya I also didn't know why I sold my cck. Previously my agent kept persuading me to sell to buy private condo and to quickly get into it. I kinda regret selling my mop hdb. But no time for regrets now just gotta do what I can
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Ya I also didn't know why I sold my cck. Previously my agent kept persuading me to sell to buy private condo and to quickly get into it. I kinda regret selling my mop hdb. But no time for regrets now just gotta do what I can
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i would buy a 5 room (with 4 bedroom) hdb near mrt station, maybe cck to yishun?
price wise should be 500k, can rent out 3 room, maybe $600 per room?
The thing is that I don't need to worry about where to stay or live in. I have an empty condo to live due to certain family arrangments. Wife and I can live in that condo perhaps for the next 5 to 10 years. Our concern is to make a wise purchase for the next purchase.Not advisable to get EC, your priority is to get a good agent to sit down and go through your finances.
Even a cheap 3-bedroom EC at Northwave will cost $750K - You will barely have enough loan to cover it.
You need pay resale levy up to $50k cash, stamp duties, lawyer fees.
Your wife's CPF can pay off the loan , but you still need pay maintenance of $300, PUB bills , any renovation loan / household appliances / lighting / furniture ?
Another question is banks will need 2 names to apply for loan as the EC is under 2 names.
Also, to complete your resale HDB , it may be many months later. For new condo / EC , it may be a few years later. You also need to factor in where to stay, or renting in the meantime, and storage costs for you furniture and belongings.
Getting a cheap resale is your best bet, or apply BTO and stay with your parents / rent a room.
That's what I thought too.How old are you?
Are you able to wait or queue for another bto?
The best scenarios will be you keep ur sold bto for rent but that is history.
Dont understand since you have a spare condo to stay, you are not in a rush to buy new flats/ ec/ pc. You can always invest ur cash in another area rather than in an urgent to buy another property.
there is actually little to envy me. I have poor health and I don't earn that much with my minimal income from driving little with uber and the condo I stay in doesn't belong to me but a family member. But yes indeed maybe I am somewhat lucky in that way to stay free condo.That's what I thought too.
Pocketed profits from 1st BTO.
Got so many options to play with.
Some people barely survive to make ends meet.
Envy the TS again.