The only thing that can go wrong is it may be hard to keep up with the price in 2030 because you are getting delayed by the hdb mop route. When getting a resale hdb, it would mean property endgame for most of us when reach 55 and planning for retirement. But for your case, it doesn't seems to be one.
I wouldn't want to gamble on this, it's clearly a loophole. Within 5 years, anything can happen.
At the point of buying the resale HDB if the occupier route is available then it should be good. So far the G have not retroactively plug in regulations changes. Anyway, only can plan with what I know, and not what is being speculated. Things might change but we can change too.
The ROI for renting out condos is no longer there, especially buying new ones. I will prefer not to go into rental game with condos. IMO at least.
My friend said he gg to write to minister and HDB to plug the gaps. He quite tulan the property prices soaring. How ah?
To me, condo is about capital appreciation. My tow kay friend had 6 properties. He said paying ABSD and simi SD also no problem. His freehold landed all can pass down generations. So whatever duties doesnāt matter anymore. It is a place for him to store wealth. He knows because last time he bought all the STI tualiap stocks and China S shares all pawn him big time. This time he also screwed by China mainland stocks, Sea limited etc. he said he should just pay stamp duties and hoot more properties.The ROI for renting out condos is no longer there, especially buying new ones. I will prefer not go into rental game with condos. IMO at least.
I see ex-PRCs and other former aliens renting out HDBs enjoying rental income. I am born and bred here, it's all fair game.
I don't wish to take on more debt at 55. I give my kids the best education to the best of my abilities up to them becoming an adult, then it's their own problem liao. We have enough to live and not burden them then it's job done. I don't need more money. My timeline is about there, 55 should be the end game. At least I can still walk and enjoy life for abit then.
The G is sucking up too much money from property owners, then there are the agents wanting a piece of the pie also. Abit here, abit there, it all adds up. It will just get worse, taxes will never come down. Even my friend staying in GCB is kpkb-ing about property tax. Rental game for private is not worth it if there is no capital upside.
It still boils down to your current age and life phases. Pple like me who is just hitting 50 will start to plan for consolidating. When at my early 40s, this has never come across my mind.I don't wish to take on more debt at 55. I give my kids the best education to the best of my abilities up to them becoming an adult, then it's their own problem liao. We have enough to live and not burden them then it's job done. I don't need more money.
Maybe your friend got full cash to dump in, nowhere else to spend, rich man's problem.
Rental play is for those who bought in the earlier era. Likely fully paid off mortgage liao and enter at much lower cost.The ROI for renting out condos is no longer there, especially buying new ones. I will prefer not to go into rental game with condos. IMO at least.
I see ex-PRCs and other former aliens renting out HDBs enjoying rental income. I am born and bred here, it's all fair game.
To me it's abit like changing industry to prolong your working career.
I dunno your current age and your current property portfolio, but the above only makes logical sense when u are in your 50s currently. If you are in your early 40s now, you can't be waiting for 15 years not doing much while waiting to be eligible for resale hdb, and may lose out on opportunity cost. I feel it will be a waste la unless you are looking at career switch then it's another story. 40s to 50 is the best age for wealth accumulation imo. Anything after 50 is about health and family.
2030 I will be late 40s. But I intend to semi-retire latest by 55. If i stick to my timeline, at 55 I will have my HDB and the FH condo. I guess at 55 if no substantial work I won't flip properties anyway.
Quite similar to my game plan actually.2030 I will be late 40s. But I intend to semi-retire latest by 55. If i stick to my timeline, at 55 I will have my HDB and the FH condo. I guess at 55 if no substantial work I won't flip properties anyway.
END GAME.
By then kids should be grown up liao, can dump money under their name. That's why we always see youngsters in their 20s buying 3m properties, the cycle continues.Quite similar to my game plan actually.
Was discussing with wife 2 options when hit 55
1) pay off current own stay property after wife cash out her property. With spill over proceed and saving, should be quite comfortable too.
2) cash out everything, get a resale hdb when hit 55 and live like a king (afterall we only live once, no point slogging beyond 55) If hand itchy, use the owner/occupier strategy to get an old 3b resale for monthly passive.
Point 2 may be quite similar to your game plan.
He didnāt kpkb his gcb goes from $20 to $65mil?
