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For singles, buy resale or private condo better?

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Old 24-05-2020, 01:07 AM   #1
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For singles, buy resale or private condo better?

For own stay first at 35 and also next time buying another to rent out. Which better?

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Old 24-05-2020, 08:03 AM   #2
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Private condo would be better if one can afford.

Resale HDB are overpriced in my opinion, first time BTO buyers get an obscenely huge profit.
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Old 24-05-2020, 08:09 AM   #3
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For own stay first at 35 and also next time buying another to rent out. Which better?

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Question too open ended...

Some area resale condo better, some area new launch condo better...

In conclusion...
.
.
.
Depends...
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Old 24-05-2020, 08:14 AM   #4
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If can afford,

of course buy freehold condos
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Old 24-05-2020, 08:15 AM   #5
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Buy hdb first, then 5 years later buy condo again

If buy condo first will miss the chance to own a hdb
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Old 24-05-2020, 08:25 AM   #6
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If can afford,

of course buy freehold condos
... no....... simply NO
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Old 24-05-2020, 08:26 AM   #7
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If can afford,

of course buy freehold condos
Freehold doesnít necessarily mean itís better
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Old 24-05-2020, 08:29 AM   #8
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As singles can only buy 2 room HDB at 35.
From ballot of BTO till MOP, 8-10 years
35Yo + 8Years = 43Yo, which is the youngest single age to sell the 2room BTO.

> 8-10 years timeline, a condo owner couldíve possibly buy/sell 2/3 times.

> By then what will the condo prices be like? Itís like playing catching up game. And the gap between HDB & Condo has widened over the years.

> Loan tenure then kicks in coz for bank loan max age to service loan is 65. 65yo - 43yo = 22Yo, Max loan tenure that one could take.

> All in all, it really depends on needs & capability of an individual. Donít over leverage & overstretch.

Buy hdb first, then 5 years later buy condo again

If buy condo first will miss the chance to own a hdb
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Last edited by 1993newbie; 24-05-2020 at 08:32 AM..
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Old 24-05-2020, 08:33 AM   #9
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As singles can only buy 2 room HDB at 35.
From ballot of BTO till MOP, 8-10 years
35Yo + 8Years = 43Yo, which is the youngest single age to sell the 2room BTO.

> 8-10 years timeline, a condo owner couldíve possibly buy/sell 2/3 times. Itís like playing catching up game. And the gap has widened over the years.

> 8-10 years before upgrade to condo, by then what will the condo prices be like?

> Loan tenure then kicks in coz for bank loan max age to service loan is 65. 65yo - 43yo = 22Yo, Max loan tenure that one could take.

> All in all, it really depends on needs & capability of an individual. Donít over leverage & overstretch.
TS already state resale or condo first

If you like that compare, using time as a factor, then ts or anyone should have bought his first condo at 21 years old, then flip for 14 years to maximise, and buy a resale hdb at 35, 5 years mop, use resale hdb rental to finance a second condo
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Old 24-05-2020, 08:40 AM   #10
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If you are single and donít intend to get married, no need to get free hold. You not around who to pass yr condo to? 99 yrs good enough. Save money.
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Old 24-05-2020, 08:44 AM   #11
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Thanks for correcting.

As singles ,to own a second property after resale HDB MOP.
>Servicing 2 loan scenario, TS has to pay ABSD of 12% for the condo purchase.
On TOP of the 55% downpayment and BSD.

>Pay off HDB first, TS has to pay ABSD of 12% + 25% Downpayment and BSD.
P.s Correct me if Iím wrong.
TS already state resale or condo first

If you like that compare, using time as a factor, then ts or anyone should have bought his first condo at 21 years old, then flip for 14 years to maximise, and buy a resale hdb at 35, 5 years mop, use resale hdb rental to finance a second condo
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Old 24-05-2020, 08:51 AM   #12
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TS already state resale or condo first

If you like that compare, using time as a factor, then ts or anyone should have bought his first condo at 21 years old, then flip for 14 years to maximise, and buy a resale hdb at 35, 5 years mop, use resale hdb rental to finance a second condo
Then why you tell JSI to buy hdb first when he asking abt resale or new launch condo

1993NB was replying to you saying it’s not a good idea for singles to get hdb. Time is definitely a factor. If you buy hdb as a first home only when you reach 35, isn’t that losing out on a lot of opportunities and profit if you add 3 years to construct and 5 years MOP? If you start investing early, one step at a time from buying a 1 bedroom in OCR/ RCR to buying one in CCR, the amount of money accumulated would be much more than starting your property journey after 43.

Unless you don’t have the capability of buying a condo in the first place, then hdb would be last resort.

Last edited by Ohw123; 24-05-2020 at 08:53 AM..
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Old 24-05-2020, 08:55 AM   #13
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Thanks for correcting.

As singles ,to own a second property after resale HDB MOP.
>Servicing 2 loan scenario, TS has to pay ABSD of 12% for the condo purchase.
On TOP of the 55% downpayment and BSD.

>Pay off HDB first, TS has to pay ABSD of 12% + 25% Downpayment and BSD.
P.s Correct me if I’m wrong.
Wait who the hell is TS
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Old 24-05-2020, 08:58 AM   #14
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Wait who the hell is TS
TS = Thread Starter. In this case JSI
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Old 24-05-2020, 09:00 AM   #15
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Thread setter that opens this thread.

Wait who the hell is TS
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