Quote:
Originally Posted by Unregistered
You have timed your buying of your condo perfectly. Would you want to consider selling your condo now since the market has peaked (oversupply coming because of overbuilding and too much GLS)? You can then rent a one bedroom condo in the West (very cheap) for about $3.5k a month. If you rent for 3 years, you will spend $126k. If the market falls by 30%, your current condo which is now worth $1.6m will only be $1.12m in 3 years time. So you would benefit by $354k (1.6 - 0.126 - 1.12) if you sell now and rent, then after 3 years can buy back a similar condo at $1.12m. I have sold my property now and renting. What do you think?
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You definitely dont sound like a million dollar condo owner or may be ex-owner. A person who owns such asset would not ever consider your option at all. Instead, if you are capable to own such property, you definitely have the brain to earn the 300+k from your capability rahter than doing it the cheapskate way. Probably you should be more humble and stay in a
hdb if you cant afford a condo. Dont push yourself too hard to own one with the karanguni way and dont be a "million dollar condo wannabe". Is ok to be an agent, but just be honest. You sounded desperately wanting the commission and leave the owner alone in the condo room and come back 3 years later telling the owner, now is the best time to buy. What if market drops only 10%? He sold off the condo and wasted the rental and couldnt buy a same spec with the same price later on. You way is like telling the world's richest men to sell off their holding shares now because market may have an adjustment and buy back later at cheaper price. But when market really drop 30%, no one will sell you back your shares and you lose a company. Only idiots can think of such brilliant way to own condo. and idioats definitely cant make it to own million condo.