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Neighbour sold BTO unit, value doubled. Shd i? Buy what then?

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Old 21-12-2018, 06:31 PM   #1
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Neighbour sold BTO unit, value doubled. Shd i? Buy what then?

Dear gents/ladies,

Rarely do i start a thread in HWZ. Here's just seeking opinions.

My neighbour just sold his unit for 880K. Bought during BTO at 390K.

I have an identical unit. My loan left 246K thereabout.

Would it be wise for me to sell it off and consider an EC/PC and be saddled with more loans? Or shd i consider buying a smaller resale unit 4-rm HDB and not have a loan at all?

Mid-30s, no kid.

Tot of capitalising the profits. But undecided what to do next.

I was thinking, even if i were to buy a 1mil EC/PC, i dont think it will appreciate that much too in the future.

Any laojiaos can advise?
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Old 21-12-2018, 06:33 PM   #2
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Tiagong can sell 1-mil few years later. Why sell now?
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Old 21-12-2018, 06:48 PM   #3
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$1 million new condo nearer to town are pigeon holes.....
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Old 21-12-2018, 06:56 PM   #4
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Tiagong can sell 1-mil few years later. Why sell now?
Actually i am quite sceptical that it will hit 1mil SGD even.
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Old 21-12-2018, 07:24 PM   #5
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take profit 500k and stay financially free in a resale hdb
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Old 21-12-2018, 07:46 PM   #6
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Can you compromise a poorer location ?
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Old 21-12-2018, 08:03 PM   #7
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Depends on whether you need the cash and whats your long term view of property prices

Hdb / condo in good location is very likely to retain value in long term

With cash, you can buy into an index fund when the market crashes and potentially reap decent profit
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Old 21-12-2018, 09:36 PM   #8
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Many Sinkies strike gold in properties.
Holding a Hdb only can't be those above.
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Old 21-12-2018, 09:45 PM   #9
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Dear gents/ladies,

Rarely do i start a thread in HWZ. Here's just seeking opinions.

My neighbour just sold his unit for 880K. Bought during BTO at 390K.

I have an identical unit. My loan left 246K thereabout.

Would it be wise for me to sell it off and consider an EC/PC and be saddled with more loans? Or shd i consider buying a smaller resale unit 4-rm HDB and not have a loan at all?

Mid-30s, no kid.

Tot of capitalising the profits. But undecided what to do next.

I was thinking, even if i were to buy a 1mil EC/PC, i dont think it will appreciate that much too in the future.

Any laojiaos can advise?
Sell and keep the $500K profits. But will you be able to accept living in a less prime location resale 4 room that is $350K - $400K ? If can accept, then why not, after all cash is always king.
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Old 21-12-2018, 11:47 PM   #10
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Thank you all for the inputs so far. Hope to hear more views.

take profit 500k and stay financially free in a resale hdb
It will be 400K cash while the rest goes into CPF OA etc.

Can you compromise a poorer location ?
I dont mind staying where i am now (north-east) or Tamp/P. Ris.

Not keen to be near Orchard or whatsoever.

Depends on whether you need the cash and whats your long term view of property prices

Hdb / condo in good location is very likely to retain value in long term

With cash, you can buy into an index fund when the market crashes and potentially reap decent profit
I dont hv a dire need for cash etc at this point of time. But i note ur financial advice.

Many Sinkies strike gold in properties.
Holding a Hdb only can't be those above.
Noted of the hint bro.

Sell and keep the $500K profits. But will you be able to accept living in a less prime location resale 4 room that is $350K - $400K ? If can accept, then why not, after all cash is always king.
Actually my current location is not AMK or TPY which SGs typically tend to consider as PRIME location. I dont really hv a fancy for AMK/TPY as well as i grew up in the east.

Ma'am is fine with living in a 4-rm HDB. At least no internal staircase. I am still not swayed with the idea of a resale 4-rm HDB. She wants an UNBLOCKED VIEW though.
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Old 22-12-2018, 02:54 PM   #11
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The annual loan interest adds to your cost of the flat. Effectively, the longer u hold, your cost goes up.
If sell n replace with a loan free property. This interest will not be an issue.
As one ages, the peace of mind of being debt free is priceless.
Odd ball high psf buyers are hard to come by. If can hook one, i will go for it.

But as usual, own stay home has sentimental value, so priorities may be different
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Old 22-12-2018, 03:15 PM   #12
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Personally I will sell and buy a new 1, just to refresh a house with longer tenor.
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Old 22-12-2018, 03:16 PM   #13
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Ts ur place is where?
Duxton ah???
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Old 22-12-2018, 04:23 PM   #14
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You hougang massionette issit. How come can sell so high 880k?
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Old 22-12-2018, 11:54 PM   #15
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Dear gents/ladies,

Rarely do i start a thread in HWZ. Here's just seeking opinions.

My neighbour just sold his unit for 880K. Bought during BTO at 390K.

I have an identical unit. My loan left 246K thereabout.

Would it be wise for me to sell it off and consider an EC/PC and be saddled with more loans? Or shd i consider buying a smaller resale unit 4-rm HDB and not have a loan at all?

Mid-30s, no kid.

Tot of capitalising the profits. But undecided what to do next.

I was thinking, even if i were to buy a 1mil EC/PC, i dont think it will appreciate that much too in the future.

Any laojiaos can advise?
Is this EA/EM in NE Hougang/SK/Punggol? $880k is rather unheard of in the NE. Is this reliable news?
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