buy condo first, then downgrade to hdb

[theLoneWolf]

buy condo to get marriage, downgrade to hdb in order to encash for emergency, children or retirement

what do you think of this plan?

 

[vinz]

Example scenario :

Property down market 10yrs later,
emergency happen in family and need funds.

Sell at a loss of 200k ,
funds goes back to CPF , not much cash on hand after doing this.

Can maybe downgrade and pay off a HDB in full using full cpf.
Maybe no need to pay any monthly loan etc...

Doesn't solve the emergency funds (cash) issue though.

anything can happen. very vague and wide open question.

my 2 cents.

 

[theLoneWolf]

Example scenario :

Property down market 10yrs later,
emergency happen in family and need funds.

Sell at a loss of 200k ,
funds goes back to CPF , not much cash on hand after doing this.

Can maybe downgrade and pay off a HDB in full using full cpf.
Maybe no need to pay any monthly loan etc...

Doesn't solve the emergency funds (cash) issue though.

anything can happen. very vague and wide open question.

my 2 cents.

Thanks for the reply, but what make you think that condo or property may down market 10 years later?

 

[vinz]

I wasn't even thinking whether it be up or down 10 years later..

I was just generating this possible scenario, in case u keep thinking property market is only up up and up. There are tons of negative sales out there, if you didn't know or never heard of these.

Those who made big profit will appear on website, newspaper etc.

Those who made huge losses will just quietly disappear and u won't know it happened to them.

Pls click : 2016 news , Boomtime property buyers now big losers

Pls click : 2020 news Unit at Reflections at Keppel Bay incurs $2.15 mil loss

Pls click : 2016 news One in five condo owners sitting on paper losses

Pls click : 2019 Resale HDB vs condominium: Are flats a bad investment?

Pls click : 10 biggest property losses

Not pouring cold water.
Just telling you that you may make money,
and you MAY also lose money (depending on when you sell)
There is no one way up direction in property like what many youngster think.

good luck in your investment.

 

[Dusky01]

Why not get Hdb fully paid it

Got extra money then buy condo, rent out the Hdb

The rental can contribute to your retirement fund or emergency fund

That is doable if you dun need the rental to service the condo loan

When old and kids moved out, sell condo move back Hdb

 

[Forever84]

If you can qualify for BTO that should be your first step

 

[Sinkie]

Why not get Hdb fully paid it

Got extra money then buy condo, rent out the Hdb

The rental can contribute to your retirement fund or emergency fund

That is doable if you dun need the rental to service the condo loan

When old and kids moved out, sell condo move back Hdb

Most likely ts is single

 

[Dusky01]

Most likely ts is single

If single lagi easy

More time to Save the money .

If 35 get Hdb rent out Hdb And continue to stay with parent

Or join with future wife get Hdb and clear within shortest duration

Then build warchest for condo together

 

[Pokémon]

buy condo to get marriage, downgrade to hdb in order to encash for emergency, children or retirement

what do you think of this plan?

Such vague info, and you expect others to comment or even come up with a different plan?

 

[GBC]

buy condo to get marriage, downgrade to hdb in order to encash for emergency, children or retirement

what do you think of this plan?

You happy can already.

 

[LWZ]

why need to buy condo to get married ??

 

[䏣炆玧示老太]

buy condo to get marriage, downgrade to hdb in order to encash for emergency, children or retirement

what do you think of this plan?

very illogical
why need to downgrade?
you income should spiral up and upgrade to even better housing if you can't qualify for BTO in the first place

 

[NiShiZhu]

very illogical
why need to downgrade?
you income should spiral up and upgrade to even better housing if you can't qualify for BTO in the first place

Hi polar long time no see

 

[Passerboy]

Hi polar long time no see

Really sounds like Polar

U can really read..

 

[scanner007]

Hi polar long time no see

 

[䏣炆玧示老太]

buy condo to get marriage, downgrade to hdb in order to encash for emergency, children or retirement

what do you think of this plan?

always set aside enough money to carry on with life first
have excess budget then think of buying a more expensive flat
not the other way round buy a "too expensive" flat then wait for accident to occur sell it off to cash out

 

[The_Davis]

Really sounds like Polar

U can really read..

 

[19931993]

I wasn't even thinking whether it be up or down 10 years later..

I was just generating this possible scenario, in case u keep thinking property market is only up up and up. There are tons of negative sales out there, if you didn't know or never heard of these.

Those who made big profit will appear on website, newspaper etc.

Those who made huge losses will just quietly disappear and u won't know it happened to them.

Pls click : 2016 news , Boomtime property buyers now big losers

Pls click : 2020 news Unit at Reflections at Keppel Bay incurs $2.15 mil loss

Pls click : 2016 news One in five condo owners sitting on paper losses

Pls click : 2019 Resale HDB vs condominium: Are flats a bad investment?

Pls click : 10 biggest property losses

Not pouring cold water.
Just telling you that you may make money,
and you MAY also lose money (depending on when you sell)
There is no one way up direction in property like what many youngster think.

good luck in your investment.

yes agree. since stock markets can move up and down, property too. at least can stay inside...if you refuse to recognise the loss.

 

[19931993]

very illogical
why need to downgrade?
you income should spiral up and upgrade to even better housing if you can't qualify for BTO in the first place

some people might want to downsize their expenses at the later years. to unlock cash for spending.

 

[SBC]

Why not get Hdb fully paid it

Got extra money then buy condo, rent out the Hdb

The rental can contribute to your retirement fund or emergency fund

That is doable if you dun need the rental to service the condo loan

When old and kids moved out, sell condo move back Hdb

Sound so simple in theory.

Current ABSD at 12% is almost not feasible.
ABSD could rise to 15% to 20 over the next 10 years.