Why BBFA should hoot condo 🏡🏢

[Milodrink]

Parent no money one

Loan lor

 

[Milodrink]

Government may remove 15-month wait-out period when HDB resale prices begin to moderate: Chee Hong Tat​

 

[DragonFire]

Visited a acquaintance from a long time ago in his new condo. I honestly don’t understand why one would pay 2.5m for something so small.

1.5m nets u a larger flat. Take 200k to do it up and it will be nicer than a condo of the same size.

Bigger rooms and a small aircon ledge instead of a massive useless balcony.

 

[Milodrink]

https://www.propertyguru.com.sg/listing/for-sale-1-loft-24813982

Bbfa shouldn't jjww liao.


2b2b below 800k

 

[SBC]

Visited a acquaintance from a long time ago in his new condo. I honestly don’t understand why one would pay 2.5m for something so small.

1.5m nets u a larger flat. Take 200k to do it up and it will be nicer than a condo of the same size.

Bigger rooms and a small aircon ledge instead of a massive useless balcony.

2.5mil condo should easily a 1000-sqf 3BR.

 

[focus1974]

If you can barely afford... The intersts will negate the gain.

interest on a 30 year loan .. don't have to worry.
unless you intend to hold for 30yrs.
usually by the 10 year, you will have signifiant gain .. you can sell your property and downgrade to a fully paid HDB resale.
But of course... HDB already plugged that hole...
under 55years old, cannot downgrade to HDB Resale immediately.

 

[hachi]

interest on a 30 year loan .. don't have to worry.
unless you intend to hold for 30yrs.
usually by the 10 year, you will have signifiant gain .. you can sell your property and downgrade to a fully paid HDB resale.
But of course... HDB already plugged that hole...
under 55years old, cannot downgrade to HDB Resale immediately.

Then got to plan. Between 45-54 with large loan if jobless is no joke. Yes one may look like the top 20%, when one wears a hat larger than one head... Don't blame anyone except yourself.

I still prefer a larger resale hdb as a proxy to bring out the money from CPF. As a bbfa

 

[Milodrink]

interest on a 30 year loan .. don't have to worry.
unless you intend to hold for 30yrs.
usually by the 10 year, you will have signifiant gain .. you can sell your property and downgrade to a fully paid HDB resale.
But of course... HDB already plugged that hole...
under 55years old, cannot downgrade to HDB Resale immediately.

Maybe will be break through soon

 

[Milodrink]

interest on a 30 year loan .. don't have to worry.
unless you intend to hold for 30yrs.
usually by the 10 year, you will have signifiant gain .. you can sell your property and downgrade to a fully paid HDB resale.
But of course... HDB already plugged that hole...
under 55years old, cannot downgrade to HDB Resale immediately.

Recent news.

Government may remove 15-month wait-out period when HDB resale prices begin to moderate: Chee Hong Tat​

 

[hachi]

Recent news.

Government may remove 15-month wait-out period when HDB resale prices begin to moderate: Chee Hong Tat​

Which means... Resale hdb huat again?

 

[Milodrink]

Which means... Resale hdb huat again?

Yes. Smart

 

[N4E.SI]

I have a friend who earns only $4k/mth but hoot a $2M freehold condo. For some reasons, he insist on staying condo. Say it's better for his family, his kid etc

Ever since then, everytime I see him will complain his finances very tight, he very stress, can only afford the cheapest meal for lunch everyday, he sinking into depression etc

But he still insist on staying condo and every month all his savings wiped out

 

[toolbox03]

Unless no choice.
Those can afford condo should.

YOLO. You only get to benefit aka loan from bank 1 or 2 times nia to change your fate with world's safest and steady investment - Singapore Property.

Obviously the riches foreigners don't all come to invest in Singapore property market for no reason.

There's no other investment that you get to invest and use at the same time.

Unless u retiring soon, 30+ still young on career got few cycles to flip.

U can leverage your job and youth. Families also entitled to utilise national resources, bbfa should too.

However once you BTO 2room it's that's it.
No chance to flip, even can who want buy from your old and expensive 2room when newer ones cheaper smell better?

By then also 45yo liao, no banks want loan u also.

U eternity stuck inside that 2room, safe but also missing out on much privileges and opportunities many other Singaporeans have.

The best way is after you 55yo, you then downgrade to 2room after getting to sell your condo to any PR or FT with that profit adding on to your retirement funds.

That is the only way bbfa get to game better.

Just sharing this perspective from various laojiao sharing.

Of course every thing got pros and cons.
Just analyse and think properly for your own better life. Tbh there is no easier life, just better strategised life. YOLO.

New condo especially those hot condo also need to ballot for queue number, you think got marnee can just buy?

there are >200k millionaires in sg

 

[drkcynic]

I have a friend who earns only $4k/mth but hoot a $2M freehold condo. For some reasons, he insist on staying condo. Say it's better for his family, his kid etc

Ever since then, everytime I see him will complain his finances very tight, he very stress, can only afford the cheapest meal for lunch everyday, he sinking into depression etc

But he still insist on staying condo and every month all his savings wiped out

4k/mth which bank loan him the money for the 2M condo? Mai CSB la.

 

[toolbox03]

https://www.propertyguru.com.sg/listing/for-sale-1-loft-24813982

Bbfa shouldn't jjww liao.


2b2b below 800k

Bank will not loan chiu marnee for geylang property, need to pay cash

 

[toolbox03]

4k/mth which bank loan him the money for the 2M condo? Mai CSB la.

As long as you can show funds, bank will loan you marnee

$2m property need to show >$1m cash to the bank for them to loan you if you earn $4k/mth

 

[drkcynic]

As long as you can show funds, bank will loan you marnee

Correct ah, as long as he can secure the 2M condo, that means bare minimum he can pay the 25% + BSD, and some bank is willing to lend him the other 1.5m.

So it doesn't matter if he is earning 4k/mth, he obviously have money from elsewhere which that poster does not know about. So why the need to mention until that guy is very cham?

 

[N4E.SI]

4k/mth which bank loan him the money for the 2M condo? Mai CSB la.

I dun know why people here are so narrow in their view. Expected such childish comment. Like oh if you earn $3k/mth means you can only buy 3rm HDB

Come on la you earn $2k per mth also can buy a $2M condo

U never heard of cash savings?? His parents help him with the downpayment and a lump sum to clear off a chunk of the loan cannot?

Just based on 1 statement u jump to conclusion that it's CSB

 

[iPod Jack]

Loan lor

Dun anyhow give advice lah, esp on money matters

diff pple got diff capabilities and wants

skarli some dummies follow ur advice and got into a fartload of debts which they cannot repay...

 

[drkcynic]

I dun know why people here are so narrow in their view. Expected such childish comment. Like oh if you earn $3k/mth means you can only buy 3rm HDB

Come on la you earn $2k per mth also can buy a $2M condo

U never heard of cash savings?? His parents help him with the downpayment and a lump sum to clear off a chunk of the loan cannot?

Just based on 1 statement u jump to conclusion that it's CSB

Haha, you are the one who painted him a picture like he very cham.

He is probably richer than you so you don't need to worry about him. Worry about yourself first.