Condo vs hdb

[kiatme]

Don't buy for the greed. Buy for the need.
if you family wants to move into a condo/another condo, by all means go ahead consider.

1. Not all condos appreciate, you have to do your due diligence to research, indeed there is money to be made, but there are also a lot of people who suffer negative sales, people just dont talk about it if they lose money, imagine spending millions on a house and suffering a loss when you sell, will you talk about it ?
   
2. What logic is forced savings, if you put 5k into a bank monthly, you get interests, that is saving. putting 5k from your pocket to your property (and if you use cpf, you lose even more interests!), where is the forced savings from ?
   
3. Is enbloc really a gain ? Before 2018 there were only sporadic enblocs, I feel its like buying toto, and when you work out the sum, is it really a gain ?

 

[kiatme]

Personally i get triggered when i see words like forced savings, forced savings means what ? the whole family get bread and noodles everyday ? or skip holidays and other joys of life to service the loan ?

 

[iCubes]

Personally i get triggered when i see words like forced savings, forced savings means what ? the whole family get bread and noodles everyday ? or skip holidays and other joys of life to service the loan ?

They consider property as a channel for forced savings because they see it as an asset, not an expenditure like a car or going for holidays. There are some people who will just spend whatever they see in their bank account so locking it in property actually helps them.

 

[Pokémon]

They consider property as a channel for forced savings because they see it as an asset, not an expenditure like a car or going for holidays. There are some people who will just spend whatever they see in their bank account so locking it in property actually helps them.

Yup.

Some people might promise themselves to save a portion of their salary, but would probably end up giving excuses, like I need to use the money now, and I will put the amount back from my next salary. It would just snowball until it becomes pointless and continue with the the moonlight clan lifestyle.

CPF/Loan interest aside, the savings are still savings...

 

[Pokémon]

or skip holidays and other joys of life to service the loan ?

If one is not able to maintain the current lifestyle after purchasing a property and service the loan comfortably, he probably has overcommitted on it.

 

[ohana]

Ya lo..I don’t see any “ force savings” and was wondering why they keep telling me this .