Advice needed with buying property.

[wahkao3]

If you were to look at the capital put in v rental yield for a condo and with the risk involved, there are many other investment instrument you can look at.

Sotck market?

i like this post

compare the cap rate of condo VS PE ratio of stock market VS Risk free Bond yields

which one higher return u invest which one

 

[derrickgoh]

Condo in ulu places are cheaper but have less value so if you are thinking of renting, you may have trouble renting it out. A one bedroom condo already costs the earth (even in ulu areas). If you are living in with your mum, minimum you need is a 2 bedder. Which costs even more obviously.

Banks will only loan you a certain amount. Firstly MAS has rules as to how much they can lend. Secondly, even if MAS has no rules, the banks are obviously worried about lending copious amounts of money to someone earning just $3,000.

What the bank is willing to lend is definitely NOT going to be enough for you to finance half a condo let alone the entire thing. How are you going to get the balance?

Even if say your mum sells her flat and by some miracle you manage to get enough money to pay the balance while the bank loans you the rest. Are you able to maintain the condo?

$3,000 salary is not much. I don't know what you spend on but $2,000 a month sounds quite a lot for someone who has no housing commitments. If your savings are only $1,000 per month now, what happens when you do get a house?

You have water & electricity bills and monthly loan repayment. Condo conservancy charges aren't cheap. And if the residents vote to upgrade something or add something, even if you voted against it, you still have to pay if majority vote for it. Big repair jobs like elevator replacements, replacement of swimming pool filters, etc are going to cost a lot too.

I don't know if you have any insurance policies, if you do you need to set aside money for the annual premiums. In short, based on your salary and how much you save currently, its going to be hard surviving each month if you do get a condo.

If you are really keen to move out and have your own pad, no choice, at this stage you have to just make do with renting a HDB flat. Then wait till you are 35 and you get apply for BTO 2 roomer or buy resale flat. Or if you get hitched then you can go for either BTO or resale.

 

[Bustamagic]

For investment condo, you will be lucky if you don't run into negative cash flow. Other than loan payment, there's still property tax, condo maintenance charges, agent fees for leasing out your unit and repair cost when tenant complain about faulty fixtures.

 

[CloudJames]

Condo in ulu places are cheaper but have less value so if you are thinking of renting, you may have trouble renting it out. A one bedroom condo already costs the earth (even in ulu areas). If you are living in with your mum, minimum you need is a 2 bedder. Which costs even more obviously.

Banks will only loan you a certain amount. Firstly MAS has rules as to how much they can lend. Secondly, even if MAS has no rules, the banks are obviously worried about lending copious amounts of money to someone earning just $3,000.

What the bank is willing to lend is definitely NOT going to be enough for you to finance half a condo let alone the entire thing. How are you going to get the balance?

Even if say your mum sells her flat and by some miracle you manage to get enough money to pay the balance while the bank loans you the rest. Are you able to maintain the condo?

$3,000 salary is not much. I don't know what you spend on but $2,000 a month sounds quite a lot for someone who has no housing commitments. If your savings are only $1,000 per month now, what happens when you do get a house?

You have water & electricity bills and monthly loan repayment. Condo conservancy charges aren't cheap. And if the residents vote to upgrade something or add something, even if you voted against it, you still have to pay if majority vote for it. Big repair jobs like elevator replacements, replacement of swimming pool filters, etc are going to cost a lot too.

I don't know if you have any insurance policies, if you do you need to set aside money for the annual premiums. In short, based on your salary and how much you save currently, its going to be hard surviving each month if you do get a condo.

If you are really keen to move out and have your own pad, no choice, at this stage you have to just make do with renting a HDB flat. Then wait till you are 35 and you get apply for BTO 2 roomer or buy resale flat. Or if you get hitched then you can go for either BTO or resale.

Yup. I got your points. Thank you very much for your comment!

I don't intend to move out. My main purpose was actually look at long term passive income investments. I am still learning so I am looking at more information.

I put a higher expenses price. It's on average 1.5k but I put it up to $2k so I can better prepare myself. Again this is to be strict with myself also. I am the sole breadwinner of the family at the moment.

Thank you for your comment

 

[antonpoh]

Maybe this would help.

http://forums.hardwarezone.com.sg/e...es-you-how-buy-car-house-5-years-4580636.html

 

[Some-one]

Yup. I got your points. Thank you very much for your comment!

I don't intend to move out. My main purpose was actually look at long term passive income investments. I am still learning so I am looking at more information.

I put a higher expenses price. It's on average 1.5k but I put it up to $2k so I can better prepare myself. Again this is to be strict with myself also. I am the sole breadwinner of the family at the moment.

Thank you for your comment

sole breadwinner and you are still thinking of getting a condo? I think just invest in your business and earn passive income from your business by getting others to do the job when it is ready.

 

[arctician]

all these herd mentality are unhealthy....every uncle auntie is trying to buy ppty with or without cash

 

[focus1974]

if you are buying to live... GO WITH YOUR BIRTH RIGHT...
The govt give you the cheapest housing you can find with good amenities around and quality equivalent to alot of mass market condos.

If you are buying for investment, of course .. u can only buy private condos..

There is nothing glamorous living in a condo unless you are living in a >2000sqft one nestled in the prime districts.

Alternatively, if you can afford, go for landed FH.

 

[sAVaGEmP5]

Yup. I got your points. Thank you very much for your comment!

I don't intend to move out. My main purpose was actually look at long term passive income investments. I am still learning so I am looking at more information.

I put a higher expenses price. It's on average 1.5k but I put it up to $2k so I can better prepare myself. Again this is to be strict with myself also. I am the sole breadwinner of the family at the moment.

Thank you for your comment

Dun look at money making from 1 angle.

How abt flipping condo like prata ? Some condo havent TOP already can flip 10-20% higher. When TOP maybe even more, but like what we always sa.. historical prices doesnt mean anything, its all gov policies etc.. With the recent stamp duties can't flip, but still doable.

A 1 mill condo only needs 200k+ to buy, if it can go up by 20% 4 years later, u can sell it at abt 16% profits. Thats abt 100k++ cash profits less ur tax or CPF. Do this at each economical cycle huat. Passive income is just a term used by other course sellers.....

 

[Sofiawotson]

Hi, My uncle recently brought a New Property in hougang region through Property Guru, he got the best deal from there.