Penrose Sims Villa

[Passerboy]

HAHAHA! Was going through this fella's posts for reporting to Boss Dragon and saw this! This pedophile is really obsessed with me! Thats why cannot reveal too much details in this forum..

Btw, I am not as free as passer can post here 24/7. Very busy recently with school. This forum is last on my priority. Have a little bit of time today after finishing a project.

Please don’t drag me into ur nonsense. I have already abstain from commenting on ur nonsensical post, thanks

 

[holasingapura]

Please don’t drag me into ur nonsense. I have already abstain from commenting on ur nonsensical post, thanks

Sorry if you are upset that I correct your fake news time and again...

I am not dragging you in, simply using you as a comparison, very amazed with the time you spend here, even on weekdays. You are the no.1 property guru here!

 

[holasingapura]

Lets all admire the beautiful impressions of penrose...

 

[Hyruga]

Nothing much to hype about.

Just because it's by reputable dev, it's overhyped.

 

[LCMFHB]

Any info on the ryse?

 

[sgpropertyblog]

Any info on the ryse?

there is a Ryse thread as well.. you might wana follow that thread cos tis one for Penrose,abit hard to catch up on the discussion on Ryse here.. Tentative launching date in Q1 2021..

 

[soulz81]

just checked with developer, 69% sold. after they reballot the bounce out units

 

[propertyinvestor40]

Slowly will become 100%. Every day 1 unit.

 

[Ohw123]

Slowly will become 100%. Every day 1 unit.

You haven’t tell us which unit you bought in Penrose... where your housewarming I wan tabao the food

 

[wokhei]

A bit off topic but I heard that if we use CPF to pay for property, when we sell the property then need to pay back the CPF plus accrued interest right?

So my question is... Is there any way I can do "early-repayment" of CPF moneys that I used, so that I won't get hit by the big compounded interest when I sell the property?

 

[ggdotcom]

A bit off topic but I heard that if we use CPF to pay for property, when we sell the property then need to pay back the CPF plus accrued interest right?

So my question is... Is there any way I can do "early-repayment" of CPF moneys that I used, so that I won't get hit by the big compounded interest when I sell the property?

If you loan from HDB you can do early repayment with no penalty. If you do bank loan usually will have early repayment penalty somewhere around 1.5%.

 

[sgpropertyblog]

A bit off topic but I heard that if we use CPF to pay for property, when we sell the property then need to pay back the CPF plus accrued interest right?

So my question is... Is there any way I can do "early-repayment" of CPF moneys that I used, so that I won't get hit by the big compounded interest when I sell the property?

yes, there is this option to 'redeem' the cpf that u have used by using cash.. u can refer to CPF website for more info

 

[PropExpert]

A bit off topic but I heard that if we use CPF to pay for property, when we sell the property then need to pay back the CPF plus accrued interest right?

So my question is... Is there any way I can do "early-repayment" of CPF moneys that I used, so that I won't get hit by the big compounded interest when I sell the property?

You can do voluntary housing refund.

https://www.cpf.gov.sg/members/FAQ/...Housing+Scheme&ajfaqid=2186682&folderid=11762

 

[Protone]

There was a topic of SUO going downhill with Penrose’s pricing. Nothing much has changed with SUO pricing. Most people are marketing at 1550 PSF as per this year’s sold unit.

Does the future extra supply affect the pricing of existing condo? If I were to compare against queenstown, the supply didn’t really reduce the price. This is probably there are just as much demand for housing in queenstown.

 

[drkcynic]

A bit off topic but I heard that if we use CPF to pay for property, when we sell the property then need to pay back the CPF plus accrued interest right?

So my question is... Is there any way I can do "early-repayment" of CPF moneys that I used, so that I won't get hit by the big compounded interest when I sell the property?

The CPF + accrued interest goes back to your CPF OA when you sell your property. Alternatively don't sell your property and the interest will not be realised till maybe after you pass on or enbloc whichever comes first.

I am not sure what is the rational of depleting today's cash to safeguard cpf monies which you technically can't touch without a preset bunch of conditions. If you are not confident of having the cash in future or sell at a profit to pay for the interest, just don't sell. Otherwise sell, get back cpf + interest loaded back to your OA, buy another property and maybe drive rent off it.

You need to have some planning so you can get a property while you still can borrow money from the bank (not be too old till the bank don't want to lend you money).

Just for discussions' sake only i know alot of people are conservative like that (pay full cash to avoid paying cpf interest), so just bouncing an alternative idea here.

 

[wokhei]

The CPF + accrued interest goes back to your CPF OA when you sell your property. Alternatively don't sell your property and the interest will not be realised till maybe after you pass on or enbloc whichever comes first.

I am not sure what is the rational of depleting today's cash to safeguard cpf monies which you technically can't touch without a preset bunch of conditions. If you are not confident of having the cash in future or sell at a profit to pay for the interest, just don't sell. Otherwise sell, get back cpf + interest loaded back to your OA, buy another property and maybe drive rent off it.

You need to have some planning so you can get a property while you still can borrow money from the bank (not be too old till the bank don't want to lend you money).

Just for discussions' sake only i know alot of people are conservative like that (pay full cash to avoid paying cpf interest), so just bouncing an alternative idea here.

Let's just say the bank loan is 1.2% interest and CPF OA is 2.5% interest.

If I have extra cash of $10k that I want to do early repayment to my loan. My plan is to do voluntary refund into CPF OA so that I can get 2.5% interest on that amount, instead of doing early repayment to save on the 1.2% loan interest. At a later date I can use the CPF OA money to repay the loan anyway.

That's my rationale... Could I ask if there is a better way to approach it?

 

[drkcynic]

Let's just say the bank loan is 1.2% interest and CPF OA is 2.5% interest.

If I have extra cash of $10k that I want to do early repayment to my loan. My plan is to do voluntary refund into CPF OA so that I can get 2.5% interest on that amount, instead of doing early repayment to save on the 1.2% loan interest. At a later date I can use the CPF OA money to repay the loan anyway.

That's my rationale... Could I ask if there is a better way to approach it?

I think you kinda missed my point. Anyway perhaps someone else can advise you on this because I am someone who will run my CPF down to 0 before I will use my free cash. Fundamentally different way we see and approach this.

 

[isometric]

I think you kinda missed my point. Anyway perhaps someone else can advise you on this because I am someone who will run my CPF down to 0 before I will use my free cash. Fundamentally different way we see and approach this.

i think it boils down to which school of thoughts are you in?
1) Marginal cost per dollar: drawing down on CPF OA cost you 2.5% (which the govt is giving you) vs drawing down on your OCBC 360 savings accounts which cost you 1.5% i/r.
This guys here believes in optimising the cost

2) Flexibility: CPF money can see but cannot touch whereas cash on hand is totally up to our own discretion... water faraway cant put out the immediate fire... this guys here believes that the benefits of holding cash far outweighs the difference in i/r between OA and bank account.

No right, no wrong.

I personally believe in the 1st school of thought... Will refund my CPF OA asap and treat that as my back up fund... while i use cash to pay off my mortages. If i am out of job one day, then i will tap into CPF (higher cost of funding) to last me through while i search for a new job...

 

[drkcynic]

i think it boils down to which school of thoughts are you in?
1) Marginal cost per dollar: drawing down on CPF OA cost you 2.5% (which the govt is giving you) vs drawing down on your OCBC 360 savings accounts which cost you 1.5% i/r.
This guys here believes in optimising the cost

2) Flexibility: CPF money can see but cannot touch whereas cash on hand is totally up to our own discretion... water faraway cant put out the immediate fire... this guys here believes that the benefits of holding cash far outweighs the difference in i/r between OA and bank account.

No right, no wrong.

I personally believe in the 1st school of thought... Will refund my CPF OA asap and treat that as my back up fund... while i use cash to pay off my mortages. If i am out of job one day, then i will tap into CPF (higher cost of funding) to last me through while i search for a new job...

Simple way to see it, do you want to be CPF rich or cash rich?

However i have doubts over the 2nd part of your statement. When you are out of job, a mortgage is just a small part of your obligations. How about your insurance premiums, you car loans, your kids tuition fees / school fees, living expenses etc? Can being CPF rich help you with those?

 

[Protone]

There is a Facebook group for residents. Search for “PENROSE - RESIDENTS ONLY GROUP”