Discussion : Singapore Property

[Haolian King]

ha ha.... that time we will have to stay in JB.... ha ha....

JB can buy bangalow with a merc and hire a ahmad...

[116520]

ha ha.... that time we will have to stay in JB.... ha ha....

no point looking back bro. if u dun act now, 3 yrs later u will tell urself that 6 yrs ago u can get a 3000sqft in D5 with wat u hv then.
i think we are lucky to be living in this era, if Singapore property market were to become like Japan(which will happen one day), don say buy, rent also siong man !!

[jamhoe2]

Bro, I am not rich. Other bros here who own many watches are richer than me... I am one of those stuck in between. Not rich enough to buy pte housing and not eligible to buy new hdb. Well 3 years ago, with what I have now I can easily buy a freehold condo 1300sqft in district 5. You understand the feeling?

no point looking back bro. if u dun act now, 3 yrs later u will tell urself that 6 yrs ago u can get a 3000sqft in D5 with wat u hv then.
i think we are lucky to be living in this era, if Singapore property market were to become like Japan(which will happen one day), don say buy, rent also siong man !!

[jamhoe2]

Bro, I totally understand how you feel. I am a house slave too. I am having a 35-year loan and during that time my loan was also 80%.

When I bought my house in 2004, the property market was "dead". When I bought my house, many of my older relatives ask me why I buy a house when market was so bad, etc... now I consider myself lucky. On the other hand, most of the property prices in sg will only go up and never come down. So if you need to buy a house for own use, just buy it. If you buy one for investment, I believe many bros will tell you wait and see. If you are really not comfort with the present prices, I think you should wait for another 3-4 months and see. But I think property will not go back to 03 or 04 level in near future.

totally agree !! bro u sure made a hefty sum ha !!
i only think that price will only rise this yr, the more u wait the more u pay.

[exxondus]

Bro, I am not rich. Other bros here who own many watches are richer than me... I am one of those stuck in between. Not rich enough to buy pte housing and not eligible to buy new hdb. Well 3 years ago, with what I have now I can easily buy a freehold condo 1300sqft in district 5. You understand the feeling?

yeh, i understd fully. I also stuck in a 30 year loan with HDB. haiz...

[116520]

Bro, I totally understand how you feel. I am a house slave too. I am having a 35-year loan and during that time my loan was also 80%.

When I bought my house in 2004, the property market was "dead". When I bought my house, many of my older relatives ask me why I buy a house when market was so bad, etc... now I consider myself lucky. On the other hand, most of the property prices in sg will only go up and never come down. So if you need to buy a house for own use, just buy it. If you buy one for investment, I believe many bros will tell you wait and see. If you are really not comfort with the present prices, I think you should wait for another 3-4 months and see. But I think property will not go back to 03 or 04 level in near future.

I agree with you that you don't need to have a big house to have kids, but I want to provide a decent quality living for my family. I'm just hoping to get reasonably priced house this year w/o forking out too much dough. And I do not want to be a house slave.

Bro, you should know how much it costs to have a kid in Singapore.

[Haolian King]

Hao Lian King can only buy resale due to his combined income. Hence, def not new ones even at suburban areas.

and he cant get grant as well I think. Not sure about HDB loan tho. In govt eyes, he is considered v v rich le (of cos, they don look at their own minister's pay as comparison lah.)

Bro, I am not rich. Other bros here who own many watches are richer than me... I am one of those stuck in between. Not rich enough to buy pte housing and not eligible to buy new hdb. Well 3 years ago, with what I have now I can easily buy a freehold condo 1300sqft in district 5. You understand the feeling?

[Haolian King]

I will just assume your combined salary is $8k+ (since you mentioned that) and if you don't own a car or buy many rolex watches every month, I think you can look at those (not new one) 99-yr apts in suburban areas, I think you still can get 2 or even 3 rooms apt (depends on location and facing).

Also the there is no correlation between of number of rooms you have vs. number of kids you can have. I have friends staying in big house with 10 rooms but have no kids and I have friends staying in 2 room but having 4 kids....

Bro, I have a car and I don't buy many watches a year. And I don't even have a daytona (like you)... haha...

A 99 years apt say in district 5, Clementi, size 1000sqft, costs about $800k to $900k for a new or slightly new. A 20, 30 years old costs abt $700k++.

A 5rm, 30 years old flat costs abt $500k, 4rm costs abt $400k++, 3rm around $230k++. Now I need to have a rm for my mum, plus my mother-in-law, plus kids in the future. I agree with you that you don't need to have a big house to have kids, but I want to provide a decent quality living for my family. I'm just hoping to get reasonably priced house this year w/o forking out too much dough. And I do not want to be a house slave.

Bro, you should know how much it costs to have a kid in Singapore.

[exxondus]

I will just assume your combined salary is $8k+ (since you mentioned that) and if you don't own a car or buy many rolex watches every month, I think you can look at those (not new one) 99-yr apts in suburban areas, I think you still can get 2 or even 3 rooms apt (depends on location and facing).

Also the there is no correlation between of number of rooms you have vs. number of kids you can have. I have friends staying in big house with 10 rooms but have no kids and I have friends staying in 2 room but having 4 kids....

Hao Lian King can only buy resale due to his combined income. Hence, def not new ones even at suburban areas.

and he cant get grant as well I think. Not sure about HDB loan tho. In govt eyes, he is considered v v rich le (of cos, they don look at their own minister's pay as comparison lah.)

[116520]

I will just assume your combined salary is $8k+ (since you mentioned that) and if you don't own a car or buy many rolex watches every month, I think you can look at those (not new one) 99-yr apts in suburban areas, I think you still can get 2 or even 3 rooms apt (depends on location and facing).

Also the there is no correlation between of number of rooms you have vs. number of kids you can have. I have friends staying in big house with 10 rooms but have no kids and I have friends staying in 2 room but having 4 kids....

But bro, the question now is not cannot afford to buy hdb, but a matter of whether we can get over having to pay high price for a resale hdb. New hdb is generally better priced but we not qualified. Buy condo can only afford 1 Rm, how to have kids?

[Haolian King]

sorry... I didn't know got such rule... I thought only if you have bought an apt and you are not eligible. I always thought ALL Singaporeans can apply for new hdb once you got married...

btw, since your combined income over ceiling then no problem buying condo lah....

You cannot buy a new hdb if;
1. Combined income over S$8k (S$10k for EC)
2. 30 months if you sold a private property.

Heehee tats a gd one.... Cannot afford to buy HDB cos combine income over the ceiling.
If tis is the case then both ur CPF should be adequate to buy a resale HDB flat. U can also buy hse with low cash over valuation if u r nt too picky over location.
Anyway all the best In the hunt of ur new home.

Thanks bro.

But bro, the question now is not cannot afford to buy hdb, but a matter of whether we can get over having to pay high price for a resale hdb. New hdb is generally better priced but we not qualified. Buy condo can only afford 1 Rm, how to have kids?

[jamhoe2]

Not eligible cos combined income over ceiling.

Heehee tats a gd one.... Cannot afford to buy HDB cos combine income over the ceiling.
If tis is the case then both ur CPF should be adequate to buy a resale HDB flat. U can also buy hse with low cash over valuation if u r nt too picky over location.
Anyway all the best In the hunt of ur new home.

[116520]

sorry... I didn't know got such rule... I thought only if you have bought an apt and you are not eligible. I always thought ALL Singaporeans can apply for new hdb once you got married...

btw, since your combined income over ceiling then no problem buying condo lah....

Not eligible cos combined income over ceiling.

[Haolian King]

Sorry for being a kpo, may I know why you are not eligible for new hdb since you are married??

Not eligible cos combined income over ceiling.

[116520]

Sorry for being a kpo, may I know why you are not eligible for new hdb since you are married??

Singapore is indeed a competitive and relatively stressful place to live in. I think everyone agrees. Say for a 5rm hdb in Clementi costs abt S$500k now, but I can buy 2 units of 3-storeys terrace house i KL, M'sia, prob a palace in India. Same goes for things like food and necessities.

However, we were born here and we have to live with it. The only thing we can do is to crack our brains to make more money, or alternatively choose to migrate to other parts of the world. It is useless to complain too much as most policies won't change even if you complain non stop.

Btw I still still with my mum in her hdb flat with my wife. We wanted to buy a house (Condo or hdb) for 3 years now but cannot seems to find one. Not eligible for brand new hdb, condo too overpriced, resale hdb not worth buying with the current pricing. How?