How much are you earning per annum?

Originally Posted by Unregistered

they could be rich but choose to stay in hdb. i know a friend whose father is very rich... own a bungalow but choose to rent it out and live in a 4rm hdb in khatib.... he own 2 merc.

your friend's dad may not be rich. he needs to rent out his bungalow to service the mortgage and the car loans.

most rich people stay in condo or landed, only a small minority of the rich stay in hdb to enjoy the hdb utilities rebates.

38, $55k pa.
wife, 30, $40k pa.
4 room HDB flat.
No car, take bus to work.
Net worth (wife and I), $500k.

Many people bidding for COE. I predict Cat A COE will close at $70k while Cat B COE will close at $80k tomorrow.

Many people buying before the lunar new year.

Originally Posted by Unregistered

your friend's dad may not be rich. he needs to rent out his bungalow to service the mortgage and the car loans.

most rich people stay in condo or landed, only a small minority of the rich stay in hdb to enjoy the hdb utilities rebates.

big boss of some construction company not rich?

Originally Posted by Unregistered

Many people bidding for COE. I predict Cat A COE will close at $70k while Cat B COE will close at $80k tomorrow.

Many people buying before the lunar new year.

Buy after CNY best, will drop like a rock, be patient, dont kan cheong spider

Originally Posted by Unregistered

Buy after CNY best, will drop like a rock, be patient, dont kan cheong spider

On 2015 & 2016, there will be 100,000 car owners each year wanting to change to a new car, so demand for new cars will be at least 100,000. On top of that, there will be additional demand from young graduate couples (many of them have a household income of $100k at least), higher population, property flippers, etc.

Expect Cat A to go to $80k by end of 2015 & Cat B will go to $90k.

It is a risk you have to take.

When my COE left 1.5 years, I "relak, relak". Occasionally I would pop in into car showrooms, look see, look see and check prices. Then the COE left 1 year, still took my time, look see, look see.

Then left COE left 0.5 year, panic started. Then started to talk to dealer seriously, finally when COE left 2 months, I booked new car at the lowest point when COE dropped below $60K. 3 months of bidding still not successful. Car got to scrap. No car for 2 months.

Family very "pek chek". If I one person, no car no problem. But need car for family.

Some more 5 persons need 2 taxis. Very inconvenient.

Originally Posted by Unregistered

Buy after CNY best, will drop like a rock, be patient, dont kan cheong spider

I'm a degree holder while my spouse is a non degree holder. As such, our combined salaries are quite low. In total, we make only $120k pa. We are both in our late forties. We aspire to live in a condo and plans to sell our HDB flat to buy an old EC which is selling cheap.

Originally Posted by Unregistered

I'm a degree holder while my spouse is a non degree holder. As such, our combined salaries are quite low. In total, we make only $120k pa. We are both in our late forties. We aspire to live in a condo and plans to sell our HDB flat to buy an old EC which is selling cheap.

live within your means. unless you have inherited or won a large sum of money, u r heading down the path of asset rich cash poor retiree.

Originally Posted by Unregistered

live within your means. unless you have inherited or won a large sum of money, u r heading down the path of asset rich cash poor retiree.

Thanks for the advice. Yes we are aware of this. However, we think we can afford. After selling our flat and buying the EC, we just need to take a loan of $200k which is within our ability to service using our CPF without any monthly cash payments. Upon retirement at 65, we plan to retire in a cheaper place. We will sell our EC and get lots of cash for us to invest in dividend stocks. The dividends and our CPF life will give us passive income which is much greater than our expenses. Places like Chiang Mai, Penang, Phuket are some possible options.