Seems like now tikam Bto lottery better than buy Condo

[kodomo80]

now dps still need to pay 3% extra?

yes boss.....

 

[AvatarViper]

Why not rent out instead of selling, while going back to parents house stay

assume monthly rental is $2k/mth. return on $400k 2-rm is 6%p.a.
not really worth it for all the hassle (e.g. handling stupid tenant, maintenance, finding tenant, agent fees) if you can invest for a return like 4-4.5%p.a.

 

[SecretAgent]

now dps still need to pay 3% extra?

my time buyer market
i get dps at pps price
then agent get $14k comms for selling my unit
she gave me $7k to "reno the place" haha

Now boh such things liao half half with agent. She doesn't even have to serve me much except bring me plain water Money very easy earn!

Yes, DPS got to pay extra. Since I have to sell hdb down the road then take loan...I never look at progressive.

 

[Lss]

next EC will be in the east and north. You can still go and look and work on your sums. Who knows you might be able to afford? Have DPS but of cos price is slightly higher.
Just keep your options open.

Unlikely bah. Even with a very conservative 1.8k psf, I'll be looking at maybe 2mil loan. Banks won't loan me that much.

 

[SecretAgent]

sibei heng ar u. Sat i see the 2nd timer walk out i feel sad for them. now price all increase 10k liao

After 1.30pm go home liao... they announce say no more.

 

[Lss]

Actually 107k down payment, 15% in 2 months time is about 370k. Still less than 500k for both.

Of course take defer payment lah. If rich go buy condo liao tiao boh. EC for 2nd timer is tikam with more than 70% odds against you minimum. Most of the time is cannot get. Only right now is hang qin very bad people scare scare that's why I got chan...if economy booming I don't think I even allow insai see showflat

Huh I thought down payment is 25%? Why so low? Or you mean the 5% cash?

 

[SecretAgent]

Huh I thought down payment is 25%? Why so low? Or you mean the 5% cash?

5%+ 15% + BSD +legal fees

 

[Kwein]

beh kan cannot afford EC or Condo just admit is ok de

nothing to be ashamed


Read HWZ Forum Rules!

 

[dnsfpl]

Now boh such things liao half half with agent. She doesn't even have to serve me much except bring me plain water Money very easy earn!

Yes, DPS got to pay extra. Since I have to sell hdb down the road then take loan...I never look at progressive.

few years ago my friend got $200 NTUC vouchers
i thought so jialat

now only bottled water?

 

[SecretAgent]

few years ago my friend got $200 NTUC vouchers
i thought so jialat

now only bottled water?

I don't want to hear anymore!

It is in paper cups some more!

 

[dnsfpl]

I don't want to hear anymore!

It is in paper cups some more!

wah really is sellers' market now sia

my time my agent scare other desperate agent offer me $8-9k

keep telling me not to fly her kite haha

 

[audiovideo]

tikamed 2 yrs then got queue lumber

 

[eyz]

Your "win" is super diluted by the MOP... Let you make $300,000 good? $300,000 have to be divided by 15 years (5 years of balloting + building, then 10 years mop). That's only $20,000 per year over 15. Wait, you need 2 names for that, so it's only $10,000 per year per person!!!

That's just too little!

you are almost spot on

i started balloting since 2016, balloted successfully 2020, top 2025, mop 2030.

but i managed to get a top floor at boon keng@ 700k. hoping to sell at 1.5 mil.

 

[SecretAgent]

wah really is sellers' market now sia

my time my agent scare other desperate agent offer me $8-9k

keep telling me not to fly her kite haha

I got to ask ntuc vouchers from her tomorrow!


Thanks for the heads-up!

 

[kodomo80]

I got to ask ntuc vouchers from her tomorrow!


Thanks for the heads-up!

now i also must go ask mine too ahhaha

 

[coyote]

you are almost spot on

i started balloting since 2016, balloted successfully 2020, top 2025, mop 2030.

but i managed to get a top floor at boon keng@ 700k. hoping to sell at 1.5 mil.

You see, back at your time,
1, your mop is only 5 years.
2, Plus your next buyer will not have income limit of $14k.
3, plus you don't have that 9% claw back of profits.
So your profit should still be good.

Now if you ballot for a BTO at Boon Keng today, it's mop is 10 years!!! Plus your next buyer cannot take a big loan with a $14k income limit. Plus there could be a potential 9% claw back. So, if using your time line, your mop would be in 2035. 2035 - 2016 = 19 years. Say you really sold at $1.2m since your next buyer cannot be forking out too much cash given his limited income. So making $500K(instead of $800k for the older bto) by 2035. $500k minus 9% claw back is $455K / 19 years, it's $23.9K/year. Divide your $23.9K by 2 names, you will be making close to $12K/year per person over the 19 years. Pretty close to my $10k/year per person estimation.

That's why I said the era of BTO lottery is over. If you could, skip BTO.

 

[Teyemittisi]

Every month see a huge mortgage is a nightmare...

I understand that feeling. Choose to be loan free.. life is much more simpler and happier

 

[coyote]

I understand that feeling. Choose to be loan free.. life is much more simpler and happier

This is what we called 人无远虑，必有近忧。It's your choice ultimately.

 

[eyz]

You see, back at your time,
1, your mop is only 5 years.
2, Plus your next buyer will not have income limit of $14k.
3, plus you don't have that 9% claw back of profits.
So your profit should still be good.

Now if you ballot for a BTO at Boon Keng today, it's mop is 10 years!!! Plus your next buyer cannot take a big loan with a $14k income limit. Plus there could be a potential 9% claw back. So, if using your time line, your mop would be in 2035. 2035 - 2016 = 19 years. Say you really sold at $1.2m since your next buyer cannot be forking out too much cash given his limited income. So making $500K(instead of $800k for the older bto) by 2035. $500k minus 9% claw back is $455K / 19 years, it's $23.9K/year. Divide your $23.9K by 2 names, you will be making $12K/year per person over the 19 years. Pretty close to my $10k/year per person estimation.

That's why I said the era of BTO lottery is over. If you could, skip BTO.

yah, i considered myself lucky, and to add to this news, i got it through sobf, when im 39 in the queue. there were only 60+ units for kallang whampoa, and 50+ are new units. when it came to my turn, surprisingly no one chose this top floor unit, so i chose it. i guess its too expensive for most.

your calculation damn detailed.

so what should one get in this kind of market?

 

[TimsTom]

I just got an EC last Saturday as a 2nd timer...still quite haven't get over it..feels like dream.

Where to look for EC? HDB site only shows BTOs right?