Quote:
Originally Posted by Unregistered
yes, when you see herd mentality, you see bubble bursting soon - many of these suburbs condos have poor workmanship, far away from mrt, high maintainance fees, 99 leasehold, poor tenant profiles. hdb dwellers are much better off. |
When buying a condo, you must buy:
1. Buy for stay and NOT for investment. Property prices going down and down because of big oversupply.
2. Buy condo next to an
MRT station (one minute walk) only.
3. Buy from blue chip developers only.
4. Buy big condo developments with big swimming pool, tennis courts, gym and nice landscaping. Avoid those small condo projects with small pool.
5. Buy with 50% cash downpayment so that even if property prices crash by 50%, you are still safe. Those with only 20% cash downpayment cannot sleep well.
6. You must have cash buffer of at least 3 years worth of mortgage payments so that if you lose your job, you have time to sell your condo.
7. Clear your condo mortgage as fast as possible so that you can sleep well.