The guy who bought the $950k duxton flat is in fact very smart. Why? because a similar sized condo in the vicinity would cost at least $2m. He gets to enjoy the place until he dies assuming he dies before the lease ends, which is likely the case. Most likely the place will go for SERS after 50 years and he will get back his money or even get more than $950k.
What about spending on cars? Well, this has always been an expense and only those who can afford and willing to buy will buy. If you have money, why need to save so much? Why do you need to bequeath your wealth to your children at the expense of your suffering? If you have the money to spare, just buy a car and enjoy. But don't be stupid to buy an expensive car model. You can get a good, reliable new car for $100k.
Quote:
Originally Posted by Unregistered
Let me ask you a question, do you think cars or hdb flats are more expensive in singapore?
Now keep that answer in your head while I walk through with you the numbers...
Let's say you were that unintelligent guy who bought the pinnacle at duxton flat for 950k. It is 5 years old with approximately 91 years of lease left...
Is it wiser to pay 950k to own a flat for 91 years OR to pay 950k to own and use a car for 54 years (assuming a yearly cost of 17.5k?
If one accepts the cost of car ownership than one must say that to buy a 4 room flat at pinnacle is the best deal cos it is so much "cheaper"! And last I checked, there are 2 toilets in a 4 room flat. How many toilets does a Corolla have? LOLOL |