Condo or HDB

[Forever84]

Yes a risk here.. maybe can try if my job is very stable.. HDB is gonna depreciate

Just go buy a hdb if needed, property isn’t the only way you can build wealth. It’s better to limit your liabilities for now as your household income is imbalance.

this way you can still accumulate more savings and invest into other assets. Please keep in mind that outside the covid spike, the first 5 years of capital appreciation of any condo is likely to eroded by interests on loans with current rates.

 

[Lss]

I’m not blaming his wife. I’m just stating it as a matter of fact against the other person comment that he is young and can get a condo.

im just highlighting that the issue is his wife income, as it is imbalance and likely stagnant.

those are just facts, not attacking his wife or saying his wife isn’t good

So the revelation is that the wife "temporarily" has 50% pay cut. Does that change things up?

 

[Roundtreex]

Just go buy a hdb if needed, property isn’t the only way you can build wealth. It’s better to limit your liabilities for now as your household income is imbalance.

this way you can still accumulate more savings and invest into other assets. Please keep in mind that outside the covid spike, the first 5 years of capital appreciation of any condo is likely to eroded by interests on loans with current rates.

Dont know what you talking about. Seems like you missed the appreciation of 20%++ since last year.
Your loan interest is at 20%? What erosion?

 

[virtualape]

Bigger budget means relying heavily on your income. If kena laid off, your wife 40k won't do much...

Ec at 1.7m, you won't make much in the short term. Anything can happen in the next 5 years...it's really a stretch.

But having said that, it's cheaper to sort out the family matters. I rather take a loan to buy a smaller condo for rent.

 

[duckknight1000]

If u loan 1.2mil
Monthly installments of 6k
Interest is more than 50%
Condo maintenance est $400

Later when u got kids, ur expenses will just keep going up. Life is crap for guys, don't make ur life so miserable

Alr got kids..

 

[duckknight1000]

Got to make sure you pass TDSR before purchase, best is to get an IPA. You have to pay ABSD(can claim back) as well if you plan to contra. Please take note.

1.25 M bank loan monthly installment close to 7 k sgd, if you tio pok, it will be very difficult.

Yes planning for a career change to a stable place.. and then again there is no guarantee in life

 

[duckknight1000]

I’m not blaming his wife. I’m just stating it as a matter of fact against the other person comment that he is young and can get a condo.

im just highlighting that the issue is his wife income, as it is imbalance and likely stagnant.

those are just facts, not attacking his wife or saying his wife isn’t good

Yes.. young age doesn’t mean will always be smooth in career progression. Life is unpredictable.

 

[agent_719]

Hdb resale

 

[agent_719]

If no in law problem will you continue stay at your current house?

 

[duckknight1000]

So the revelation is that the wife "temporarily" has 50% pay cut. Does that change things up?

May not go up short term either haha

Bigger budget means relying heavily on your income. If kena laid off, your wife 40k won't do much...

Ec at 1.7m, you won't make much in the short term. Anything can happen in the next 5 years...it's really a stretch.

But having said that, it's cheaper to sort out the family matters. I rather take a loan to buy a smaller condo for rent.

the primary goal is not to make money.. just wanna avoid a depreciating asset.. but seems too much risk

 

[duckknight1000]

If no in law problem will you continue stay at your current house?

Yes I like my place.. I wanna stay low spending and DCA to retire early

 

[OngHuatHuat]

Anyway, buying at peak normally result in loss making deals, you have to consider a risk for the property market to U turn. I have witnessed how this happened between 2013 to 2019.

 

[duckknight1000]

Anyway, buying at peak normally result in loss making deals, you have to consider a risk for the property market to U turn. I have witnessed how this happened between 2013 to 2019.

R u suggesting to wait till the price to go down? I am waiting for interest to go down at least

 

[agent_719]

Yes I like my place.. I wanna stay low spending and DCA to retire early

U have answered your own question..

Just kick your in law out of your house then ..

 

[diminishin]

1. Dual key only make sense for rental. It doesn't work for parents or inlaws to stay studio unit. They sure ask you open the doors.

2. Your income level is too stretched for 1.7m, considering you need to feed two kids and parent.

3. You will be committing to the purchase at the peak prices, at peak interest rates.

Why don't ask the parent buy 2rm flexi hdb instead? Then you are free to buy whatever you want.

 

[FT PRIDE]

go for condo if possible

 

[OngHuatHuat]

R u suggesting to wait till the price to go down? I am waiting for interest to go down at least

I not sure, the risk seems too high if you are taking 75 % loan, the lease decay issue will also be applicable to 99 years lease condo.

 

[virtualape]

May not go up short term either haha

the primary goal is not to make money.. just wanna avoid a depreciating asset.. but seems too much risk

Flat older than 30 years old I won't get. 15-20 still ok. Ec first owner already made quite abit. Maybe can still make abit when you sell but not as much as first owner.

 

[buttbERry]

go for condo now

 

[hachi]

Just go buy a hdb if needed, property isn’t the only way you can build wealth. It’s better to limit your liabilities for now as your household income is imbalance.

this way you can still accumulate more savings and invest into other assets. Please keep in mind that outside the covid spike, the first 5 years of capital appreciation of any condo is likely to eroded by interests on loans with current rates.

TS can also buy a smaller unit in the same block or same estate?