Buying commercial property before HDB?

[anoynomous1875]

Is it advisable to make a purchase for commercial property before buying a HDB? I don't have much cash with me; the most I can commit is $70,000.

Most commercial property, whether is new launches or re-sale, seemed to be upwards of $1 mil, I would need to take a bank loan for sure, but I do not know if it is worth it....I want to get a early start in life and not slave as a paid employee for the rest of my life.......

 

[dork32]

Is it advisable to make a purchase for commercial property before buying a HDB? I don't have much cash with me; the most I can commit is $70,000.

Most commercial property, whether is new launches or re-sale, seemed to be upwards of $1 mil, I would need to take a bank loan for sure, but I do not know if it is worth it....I want to get a early start in life and not slave as a paid employee for the rest of my life.......

maybe you should read the hierachy of needs. you should fulfill your lower level needs such as food and lodgings before going for esteem and self actualization.

 

[Tony Sim]

Unlike residential property, for commercial property, banks would typically need you to contribute at least 30% downpayment, unless the property is meant for owner-occupied where you are already running an established business.

So, please consider your options carefully.

 

[kebinu]

If you have to ask, you are probably not ready for such commitment yet.

 

[Fibonacci236]

Is it advisable to make a purchase for commercial property before buying a HDB? I don't have much cash with me; the most I can commit is $70,000.

Most commercial property, whether is new launches or re-sale, seemed to be upwards of $1 mil, I would need to take a bank loan for sure, but I do not know if it is worth it....I want to get a early start in life and not slave as a paid employee for the rest of my life.......

commercial properties are in the talk since 2011-2012 iirc , recently , media seems to be constantly reporting on the heats of the commercial properties ,

imo , whenever media starts reporting about certain investments , it will always be in the peak . most recently being REITS , reits got a beaten down ( more than 20% ) not long after those analysts that appeared on the show advised a buy rating .

i feel that this is not a time to go into commercial properties

with seventy thousand dollars in hand , i guess TS might want to consider investing in some blue chips and reits .

 

[archcherub]

TS I strongly recommend hanging out at this forum here... read what other users write.. slowly u will get more knowledge here

 

[tiny]

Govt already introduced so many cooling measures but there are still people having wild dreams to own 2 or more properties to collect rental and shake legs.

 

[FP_IFA]

Better check if you are eligible to later own a HDB if you already own another property.