Quote:
Originally Posted by Unregistered
My wife and I have been working for more than 25 years and we are getting really tired. Luckily we still manage to have holiday breaks. When we go for our holidays, we always study whether the places we visited are location where we can retire.
We finally decided that Chiang Mai in Thailand would be a good place where we can retire very comfortably - eating in local restaurants every other day, relaxing and can afford to employ a maid and a driver.
How is this possible? Here is how.
Our 5 room HDB flat is now worth S$700k and plus our cash savings we can have S$1m in CASH after selling our HDB flat. We will then convert the S$1m to get 25m Thai Baht !!!! That is a lot of money to retire on in Chiang Mai.
We hope to retire in a couple of years time when we hit 55.
Our investment in our HDB flat is our best investment ever !!!!!!!! |
With the huge supply of BTOs coming up, and rules of PR needing 3 years before they can buy
HDB, you still so sure you can sell your flat at $700k? Probably before 2009 that is possible. But with property prices so volatile now, you probably have to wait off beyond 2016 to try anything.
And your
HDB is NOT an investment as you're staying in it. It is a necessity. Please don't view
HDB as an investment as you pay more than 2% interest, and you have to repay back to
CPF + their interest rates upon selling your house. Granted you may sell it for $700k, the fact that you've been paying back housing loan at that interest means at least $100k - $200k of your profit gets eaten up (dependable on the no. of years you've paid). Not to mention you have to put back into
CPF.
At the end of the day, your cash in hand may jolly well be only $200k - $300k if you're lucky (assuming you bought your house ard $200k).