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Can you make money off a resale?

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Old 08-04-2019, 08:55 PM   #1
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Can you make money off a resale?

Hi guys,

As topic, I looking to buy my first property from the resale market but have friends advising me not to as I would most likely lose money in the future when i sell it off. Their reason is that the flipping already has been earned by the previous owner. Is it somewhat true?
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Old 08-04-2019, 09:16 PM   #2
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If you’re single and monthly below $6k, go for 2rm BTO.
If you’re married but multiple failed attempts to ballot for BTO, can consider for SOBF.
IMO, buying resale you can’t expect to sell higher than the price you hv paid for the resale.
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Old 08-04-2019, 10:09 PM   #3
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Hi guys,

As topic, I looking to buy my first property from the resale market but have friends advising me not to as I would most likely lose money in the future when i sell it off. Their reason is that the flipping already has been earned by the previous owner. Is it somewhat true?
I bought a resale flat for 425k and sold it just after 5 years for 700k

I also bought a resale flat for 328k for my father and sold it before 2 years for 353k when he passed away in 2018.
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Old 08-04-2019, 10:26 PM   #4
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Avoid those 40+ year old resale flats... those are more like depreciating assets already. Otherwise, resale prices are quite flat already unless you intend to hold for 10 - 20 years.
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Old 08-04-2019, 11:39 PM   #5
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I bought a resale flat for 425k and sold it just after 5 years for 700k

I also bought a resale flat for 328k for my father and sold it before 2 years for 353k when he passed away in 2018.
Nice, my bro in law manage to do it as well. One thing I notice is that both of you bought it cheap. The one I am looking for is selling at 550 - 600k, and its like 10 years old. Not sure whether it will still have value down the road.
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Old 09-04-2019, 06:48 AM   #6
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Hdb more and more difficult la... So many rules and restrictions, imagine market pick up, u need to wait 5 years to sell, maybe by the time u can sell, market dip again.
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Old 09-04-2019, 08:49 AM   #7
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To make some money from resale is possible, all depend on location and amenities...

1 resale high floor, near to mrt, supermarket and coffeeshop...
1 resale low floor, at the corner of hdb estate, access only by car or feeder bus,....no LRT...

which resale can get a good price ?...

I bought my last resale flat (22 years old flat) for $15xk, after almost 10 years, sold for $31xk...
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Old 09-04-2019, 09:05 AM   #8
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now very difficult liao. sister in law bought at 390k in 2011 peak. now neighbours selling 320k only.

some 2013 saw was 420k now only 320k still put advertisement for a year and not sold yet.

people realizing that not all flats will be sers. holland close blk 2 all those 1972 flats until now 45 years still standing tall. i doubt pap will do enbloc even when that plot is golden land.
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Old 09-04-2019, 09:45 AM   #9
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Personally I think very hard le, unless got new developments opening up that were unannounced prior to you buying, even then I also think won't affect that much liao


This should be especially so for HDB flats over 30 years old I think, firstly the estate most likely old liao so people might not like, secondly, might need spend extra for exntensive renovations before you can move in, only good factor for these old flats I can think of are the size '


If buying for own stay, especially long term, then don't expect it to appreciate bah, maintain price point also good le lol
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Old 09-04-2019, 09:47 AM   #10
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Haha, you just described the unit I’m currently staying. My flat already reaches 20years as of this year.
Located at high floor, 5mins walk to MRT. Just a stone away from supermarket and coffeeshop.
Only if you can tolerate with some noises

To make some money from resale is possible, all depend on location and amenities...

1 resale high floor, near to mrt, supermarket and coffeeshop...
1 resale low floor, at the corner of hdb estate, access only by car or feeder bus,....no LRT...

which resale can get a good price ?...

I bought my last resale flat (22 years old flat) for $15xk, after almost 10 years, sold for $31xk...
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Old 09-04-2019, 10:09 AM   #11
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Depends on location and new development around.

My mummy place at Segar Road (Bukit Panjang) was bought at 155k back in 2001. Value went up to 440k in 2013. Now if you are lucky , can sell at 320-340k only.

Coz along the stretch got so many New BTO cluster 5-10 years old ones selling off at 400-450k. Even got EC Blossom Residences.

Mummy place Design & Build ones value drop till Jialat Jialat coz Segar is considered Inner Bukit Panjang.
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Old 09-04-2019, 10:27 AM   #12
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Resale hdb got no subsidy so only way to make profit is from market moving up. Property hard to make money unless you borrow to the max and rent out.
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Old 09-04-2019, 11:30 AM   #13
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Hi guys,

As topic, I looking to buy my first property from the resale market but have friends advising me not to as I would most likely lose money in the future when i sell it off. Their reason is that the flipping already has been earned by the previous owner. Is it somewhat true?
As single or married ?
Most important thing is location location location.
Last time, you buy any property, most likely value will also appreciate, so you can't compare it with now.

If you want to maximize your $ gain in the safest way, (assuming you are married), then get a BTO in a non-matured estate and get all the grants you can get, that way, a 5 digit sum is guaranteed into your house (if your income is low).

Or get a resale with proximity / family / additional housing grant

- please check which you qualify first though
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Old 09-04-2019, 01:12 PM   #14
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Also note that even if you sell and make some money, you will no longer have a place to stay. So you'd have to either downgrade (move to smaller flat or move further away) or stay with your parents / in-laws if you wanna enjoy your profit.

Last edited by microtek; 09-04-2019 at 01:17 PM..
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Old 09-04-2019, 05:52 PM   #15
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I am buying a resale house under foreign wife scheme. I will be the sole owner and my wife will just be occupier. I considering Parc Botannia as well but ppl say its expensive so I still keeping my options open.

Last edited by cedric85; 09-04-2019 at 05:56 PM..
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