How much are you earning per annum?

We are in our early 40s. My decision to cash out is because my stocks are overvalued. So the best is to deploy my cash in undervalued assets such as a condo in Singapore. When we buy our condo, it will serve as two purpose - consumption since we get to enjoy it and for investment since it will appreciate over the long term. Since we will pay off in full,we will be debt free and can save a lot. We hope to save $100k pa over the next 20 years. When the stock market corrects, we will accumulate stocks again with our cash. Our combined income of $20k per month is not much but more than enough. We are not rich, just a middle income family. Our current net worth is only about $3m, just a small amount.

Originally Posted by Unregistered

How old are you? Unless you are in your mid 30s to early 40s it is not wise to move from an investor mind set to a consumer mind set. An investor mind set is one who make their money work for them, while a consumer mind set work for their money. When younger you got a lot of time to build up another pile of money to invest but not when you are above 50.

Having said the above, it good to balance between saving and enjoying the fruits of our hard work. They are people who saved all their lives and never got the chance to enjoy their wealth.

Agreed that condo living is fantastic, but you must find the right condo (well managed, convenient location, adequate car park lots, full facilities, good security, spacious grounds, good neighbourhood, reasonable maintenance fees).

Also living in a fully paid up condo is only part of the success criteria. The other part is to earn a good salary. The average household income among condo dwellers is $19,500 pm.

When choosing a condo, buy a BRAND NEW CONDO.

There are a few new condos in the Hillview and Dairy Farm area which are selling cheap. Foresque Residences, The Hillier are selling only at $1500 psf, compared with $2400 psf in nearby Bukit Timah.

Originally Posted by Unregistered

How old are you? Unless you are in your mid 30s to early 40s it is not wise to move from an investor mind set to a consumer mind set. An investor mind set is one who make their money work for them, while a consumer mind set work for their money. When younger you got a lot of time to build up another pile of money to invest but not when you are above 50.

Having said the above, it good to balance between saving and enjoying the fruits of our hard work. They are people who saved all their lives and never got the chance to enjoy their wealth.

Agreed that condo living is fantastic, but you must find the right condo (well managed, convenient location, adequate car park lots, full facilities, good security, spacious grounds, good neighbourhood, reasonable maintenance fees).

Also living in a fully paid up condo is only part of the success criteria. The other part is to earn a good salary. The average household income among condo dwellers is $19,500 pm.

Originally Posted by Unregistered

When choosing a condo, buy a BRAND NEW CONDO.

Not true. Brand new if you want to stay in it and are the sort that likes things spanking new, and don't mind paying a premium.

If for investment, better to seek out value in resale condos.

Originally Posted by Unregistered

Not true. Brand new if you want to stay in it and are the sort that likes things spanking new, and don't mind paying a premium.

If for investment, better to seek out value in resale condos.

Everything has a price. Resale condos more difficult to rent out, also lower rent. Can be empty for years.

Brand new condos are easier to rent, also command higher rents. Tenants like brand new stuff, they don't mind paying more for quality. That's my 20 years of experience. How about yours?

Originally Posted by Unregistered

Everything has a price. Resale condos more difficult to rent out, also lower rent. Can be empty for years.

Brand new condos are easier to rent, also command higher rents. Tenants like brand new stuff, they don't mind paying more for quality. That's my 20 years of experience. How about yours?

20 years as a property agent?

Originally Posted by Unregistered

20 years as a property agent?

Landlord.

Are you a newbie property agent?

Originally Posted by Unregistered

When choosing a condo, buy a BRAND NEW CONDO.

There are a few new condos in the Hillview and Dairy Farm area which are selling cheap. Foresque Residences, The Hillier are selling only at $1500 psf, compared with $2400 psf in nearby Bukit Timah.

$1500psf is overpriced in hillview. There are better deals elsewhere

Originally Posted by Unregistered

$1500psf is overpriced in hillview. There are better deals elsewhere

Not true, prices have yet to move up in Hillview. Once the Down Town Line 2 opens in 2016, prices will move higher. Right now Bukit Timah condos already selling at $2500 psf, so $1500 psf for an upper class area of Hillview is very cheap.

We are a 55 year old retired couple. We live in an old EC, no more loan. We can't afford to own a car. We only earn a passive income of $30k per year from stocks dividends. We take the bus or MRT to move around. We eat bread for breakfast and porridge for lunch and dinner. I lost weight after I retired. We need to manage our spendings carefully. Life is tough.

Originally Posted by Unregistered

Not true, prices have yet to move up in Hillview. Once the Down Town Line 2 opens in 2016, prices will move higher. Right now Bukit Timah condos already selling at $2500 psf, so $1500 psf for an upper class area of Hillview is very cheap.

My friend - you sound entirely like a property agent, and a new one at that.

Read any analysis of experienced property investors and they will tell you that brand new condos, especially in the context of the premium we are seeing in today's market (30 to 50%), makes little sense for investors.

Buyers of new condos are finding that when they try to rent upon TOP, they are competing with hundreds of other rental units coming onstream at the same time at the same development, with slowing rental demand. This is reflected in various articles in the Straits Times recently.

Moreover, your target tenants in Hillview are very different from that in Bukit Timah, so why buy a Hillview condo for $1500 psf when there are resale Holland Village condos for $1300 to 1500 psf?