Quote:
Originally Posted by baby_predator
I currently have about 160K in cold hard cash( I know is quite pathetic, but still growing my pot of wealth has to start from somewhere right?) , and would be able to make good on monthly payments of up to 1.5K (everything including mortgage loan, condo conservancy charges, utilities bill etc ) . As a first timer, should I consider entering the market now? If so what projects would the old birds recommend? 
If not, should I wait for things to cool off since a slew of measures of MAS have just been implemented and interest rates might rebound forcing more than a handful to sell off their property (aka another recession) hence enabling prices to drop substantially?
Of course during this period I am still working hard to expand my warchest.
Please advise, thanks. |
Do you have a place to stay for the next 3 years?
Im sure you have a fair bit in your
CPF if you are working?
If so, may I suggest you look into new launches for capital appreciation. For $160k cash, you may get a 2br condo at about $800k. 3 years later, the house will obtain its TOP. Rent it out for another month, you would have "fulfilled" the 4 years ownership to avoid the sellers stamp duty. So far,most of the new launches price will keep on increasing from new launch to subsale to TOP unless theres's any surge in property prices. But developers are still confidently bidding high prices for sites.
And also, for the 3 years it will be building, you pay the installment based on the stage it is building.