Consolidation phase

[DevilPlate]

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 still have some small portion of mortgage to pay but still, I see it as good debts.
Eg. Bought my 4b at 1.7mil in 2018 and in a blink of eye moment, new launches 4b nowadays easily nearing 2.8 to 3mil even in ocr. If really wait for 5years mop by going through the hdb owner/occupier route, honestly it's really hard to keep up with the current price.

Wow u so yng

so early to mid 2000s u only late 20s already hunt for condos

 

[DevilPlate]

He didn’t kpkb his gcb goes from $20 to $65mil?

Because not selling what but every year goto Pay and Pay.

 

[DevilPlate]

Rental play is for those who bought in the earlier era. Likely fully paid off mortgage liao and enter at much lower cost.
Now rental is just a form of buying time to find your buyers when putting up your unit for sales.

Aiya when we first bought our properties, rental yield always cui at the start one what…..that time mortgage rates ~4% with negative nett carry lor.

 

[One_SG]

Planning to dispose everything by around 2030, wait out 15 months, get a resale HDB, wait out MOP, get a nice FH condo in one of Holland V, East Coast or Bukit Timah, rent out HDB, and call it a day.

What could go wrong? Lots of opp cost? @Zanahoria

Just curious, do you plan to include inherited properties (if any) from your parents, as part of your next move?

 

[drkcynic]

Just curious, do you plan to include inherited properties (if any) from your parents, as part of your next move?

No I did not count any inheritance. My parents don't have much anyway, only an old HDB. Even when I am 55 I see more outgoing (paying their insurance and stuff) than incoming.

They are currently happily renting out 2 rooms from their HDB (fully paid) and getting almost 2+k a month, which helps alot in their monthly expenses which is partly the inspiration behind my decision to switch to a HDB to retire.

 

[One_SG]

No I did not count any inheritance. My parents don't have much anyway, only an old HDB. Even when I am 55 I see more outgoing (paying their insurance and stuff) than incoming.

They are currently happily renting out 2 rooms from their HDB (fully paid) and getting almost 2+k a month, which helps alot in their monthly expenses which is partly the inspiration behind my decision to switch to a HDB to retire.

Thanks for sharing

I mentioned inheritance as there is a need for one to stay in an inherited HDB, if he / she chooses to keep it.

Nonetheless, I think you are doing well enough at this stage of your life. I am a few years younger and don't think I can attain your purchasing power when I reach your age.

 

[DevilPlate]

Planning to dispose everything by around 2030, wait out 15 months, get a resale HDB, wait out MOP, get a nice FH condo in one of Holland V, East Coast or Bukit Timah, rent out HDB, and call it a day.

What could go wrong? Lots of opp cost? @Zanahoria

You can try posting this in MM subforum and u will get very different suggestions.

 

[drkcynic]

Thanks for sharing

I mentioned inheritance as there are ABSD applicable, especially when there are private properties involved.

Nonetheless, I think you are doing well enough at this stage of your life. I am a few years younger and don't think I can attain your purchasing power when I reach your age.

Can do only... Ultimately I just want to plan ahead and not be a burden to our kids and still be able to lead the lives we want. Everyone have different aspirations in life but mine are simple. Perhaps I won't even get the FH condo like one of @Zanahoria considerations, just get a HDB, lead a simple life without having to worry about debts.

Money is just a means to an end to me. Hope you find your own path.

 

[Zanahoria]

Can do only... Ultimately I just want to plan ahead and not be a burden to our kids and still be able to lead the lives we want. Everyone have different aspirations in life but mine are simple. Perhaps I won't even get the FH condo like one of @Zanahoria considerations, just get a HDB, lead a simple life without having to worry about debts.

Money is just a means to an end to me. Hope you find your own path.

Frankly, I do not have much aspiration compared to the younger colleagues. I had gone through my career peak in mid 30s to 40s and had already made decision to shed some responsibilities to give way to the younger and more dynamic ones. No point hogging on the position at the expense of health and lesser family time. We only live once and there's many definition of success other than just money.

Whether in the end one decided to stay in a condo or hdb after retirement is secondary. I'm quite open to it. A house afterall is just a house. Most importantly one must feel stress free and happy.

 

[rider83]

You are assuming gov won't plug the loophole of spouse being occupier for the resale HDB.

I am assuming the same. The govt wont do anything because youngsters these days will just end up divorce and buy 2nd property, then continue to live together

 

[DevilPlate]

I am assuming the same. The govt wont do anything because youngsters these days will just end up divorce and buy 2nd property, then continue to live together

My own conclusion gathered from my own limited circle of frens/relatives is that younger gen no longer interested in owning 2nd property for investment in general.

They still aspire to upgrade to condo/landed for own stay but not buying for investment.
They are more interested in stocks particularly US tech sector and/or crypto which i m able to join in the conversation with them as well hehehe

 

[spoon69]

My friend said he gg to write to minister and HDB to plug the gaps. He quite tulan the property prices soaring. How ah?

Wrong mindset, he should see it as an opportunity instead of loophole.

 

[elvintay07]

Wrong mindset, he should see it as an opportunity instead of loophole.

Simi opportunity if he 1 person earn $12k. lol!

 

[youskevitch]

Can do only... Ultimately I just want to plan ahead and not be a burden to our kids and still be able to lead the lives we want. Everyone have different aspirations in life but mine are simple. Perhaps I won't even get the FH condo like one of @Zanahoria considerations, just get a HDB, lead a simple life without having to worry about debts.

Money is just a means to an end to me. Hope you find your own path.

I had the impression that you are a super bull on sg property and max out 4 or 5 bedroom condo

 

[drkcynic]

I had the impression that you are a super bull on sg property and max out 4 or 5 bedroom condo

Max out is 2 x GCB eh .

To me it's always about risk and rewards. It's no secret property returns are thinning. With every passing year, the risk of investing in properties goes up exponentially. Home stay, just go ahead. At least IMO.

 

[Nemesis_lane123]

Planning to dispose everything by around 2030, wait out 15 months, get a resale HDB, wait out MOP, get a nice FH condo in one of Holland V, East Coast or Bukit Timah, rent out HDB, and call it a day.

What could go wrong? Lots of opp cost? @Zanahoria

To me this is a gd plan to get a resale and if possible gt a second FH esp if second name can use fr it.

I am in a resale hdb. Was gnna upgrade to a condo after this but decided not to as gtta moved out of city area. Also no guaranteed I will gt very high floor n big space. Best part is I get benefits fr staying in HDB.

Wanted to use my last bto chance to like unlock my last profit frm my current resale but decided to wait till retired cos I m enjoying my area, space amenities and benefits.

As a Singaporean, HDB is your right. Dun lose out on it. Condo ROI these days esp on rental really CMI.

Why I m further convinced it is gd to move to a resale hdb is cos ministers are also exiting their big landed. Mark Lee also moved to HDB. Many moves are happening behind the scene. What do they know that we don't

 

[Ahboy069]

Better buy soon
Bought a one plus one fh at d15 at 800k back in August last transaction in Jan is 870k already.

 

[youskevitch]

Better buy soon
Bought a one plus one fh at d15 at 800k back in August last transaction in Jan is 870k already.

Huat kueh spotted

 

[Velton]

I hit 55 I intend to clear out too, get small small HDB stay. Sit on cash and spend it away till I GG.

 

[elvintay07]

Planning to dispose everything by around 2030, wait out 15 months, get a resale HDB, wait out MOP, get a nice FH condo in one of Holland V, East Coast or Bukit Timah, rent out HDB, and call it a day.

What could go wrong? Lots of opp cost? @Zanahoria

Very strange strategy. Haha