Quote:
Originally Posted by Unregistered
From the points you brought up, I think I'm at risk. Even though my flat is paid up and currently valued at $400k, I think best for me not to upgrade to a condo as it means I have to take a mortgage of $800k even if I sell my flat and use the $400k as a downpayment to a $1.2m condo. To service a $800k mortgage is no joke. Your idea of buying a condo and rent out the flat is not possible as I don't have much cash to even pay for the condo downpayment. I need to sell the flat to get the cash downpayment. With the big property oversupply coming, renting out may not be possible and I will risk an empty condo. Worse, if I lose my job, how can I ever service the mortgage?
I think the best option for me is to stay in my flat and build up my CPF balance for retirement. I can also invest in blue chip stocks. Property investment today is a very high risk thing to do, especially since I'm at risk of retrenchment given my easily replaceable position.
As for yourself, do you fear of you being replaced too? Are you immune to retrenchment as a recruiter? |
Recruitment is a sales role so if i dont make placement i will be sacked,i have a monthly target and if i dont meet that i will be asked to leave. Yes i will be replaced, when i become older and more senile, younger and energetic peopl will replace me.
Like i have mentioned, buying a condo is an expensive chore but if you really do invest in one, treat it as forced savings, property prices here will never fall, it will be a good source of income when you decide to sell off the condo for some cold hard cash after you retire.
However, i dont do condos and will never buy one just for the simple reason that i rather have kids and be happy with what i have now. We do have plans to migrate (though all is too soon to decide now) but ultimately i will never buy a condo in sg, neither will i buy a car after my
coe expires in 3 years' time. That's just me being practical. I do agree with your investment strategies though i cannot comment much because i am not an expert in this area.