Appreciate Views On Housing Matters - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Investments and Net Worth

Investments and Net Worth Talk all about money making exploits, shares, property and building net worth




Appreciate Views On Housing Matters

Reply
 
Thread Tools
  #1 (permalink)  
Old 10-08-2011, 12:28 AM
Qaz Qaz is offline
Senior Member
 
Join Date: Jun 2009
Posts: 44
Qaz is on a distinguished road
Default Appreciate Views On Housing Matters

Hi Guys, would appreciate your views on what I had done with regards to my housing. Its something i have done so I'm not looking for advise whether i shud have done it or not but rather want to get people views and if there serious downside on what i have done, I can take other defensive measures to mitigate the downside.. so here goes my story :

- Bought new 5RM HDB fm govt in 2006 for 260K
- Rent out the HDB rooms in 2009 and rented a landed property to stay (rental returns & cost cancel each other)
- Sold the HDB in 2011 for 520K and received 208K cash nett & have balance 190K in CPF (combine with wife)
- bought EC at 1.05m for TOP 2014
- plan to continue renting the landed at 1.7K/mth till the EC TOP date
- paid 5% cash & the balance 156K is invested in trust funds

So what do u guys feel abt this and what are the possible downside?

Reply With Quote
  #2 (permalink)  
Old 10-08-2011, 12:59 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Qaz View Post
Hi Guys, would appreciate your views on what I had done with regards to my housing. Its something i have done so I'm not looking for advise whether i shud have done it or not but rather want to get people views and if there serious downside on what i have done, I can take other defensive measures to mitigate the downside.. so here goes my story :

- Bought new 5RM HDB fm govt in 2006 for 260K
- Rent out the HDB rooms in 2009 and rented a landed property to stay (rental returns & cost cancel each other)
- Sold the HDB in 2011 for 520K and received 208K cash nett & have balance 190K in CPF (combine with wife)
- bought EC at 1.05m for TOP 2014
- plan to continue renting the landed at 1.7K/mth till the EC TOP date
- paid 5% cash & the balance 156K is invested in trust funds

So what do u guys feel abt this and what are the possible downside?
sounds like you're ok. what exactly are you worried about? thought you can't sell your EC now, the EC also won't have a market value until 5 years after TOP, right? so you won't even know if you'll be suffering a paper loss.

on your second point, did the rent you collect cover both the landed cost and HDB mortgage installments?

where in singapore can you rent a landed for such a low price? why aren't more people renting landed then?

Reply With Quote
  #3 (permalink)  
Old 10-08-2011, 01:50 PM
Qaz Qaz is offline
Senior Member
 
Join Date: Jun 2009
Posts: 44
Qaz is on a distinguished road
Default

my main concern is that loan interest rates go up increasing the mthly payment to unsustainable level or/and property value goes down to a level that I need to do cash top up.

Renting a terrace unit in changi area. Chance upon this 2 yrs ago that's why i moved out of my hdb. Dont know why more people not doing this, maybe they not aware got such low rental places...

Reply With Quote
  #4 (permalink)  
Old 10-08-2011, 04:04 PM
Unregistered
Guest
 
Posts: n/a
Default

loans rates should stay ultra low for next two years.
Reply With Quote
  #5 (permalink)  
Old 10-08-2011, 04:13 PM
Super Member
 
Join Date: Jul 2011
Posts: 115
undiscern is on a distinguished road
Default

You are not allowed to rent out your HDB flat before 5 yrs of buying it, unless posted overseas.
Reply With Quote
  #6 (permalink)  
Old 10-08-2011, 04:15 PM
Super Member
 
Join Date: Jul 2011
Posts: 115
undiscern is on a distinguished road
Default

Also, with 1.05m, you should have gotten a freehold housing in east coast area. bad move. my friend bought a penthouse unit 1400+ sqft, freehold at katong area for less than 1m.
Reply With Quote

  #7 (permalink)  
Old 11-08-2011, 01:03 AM
Qaz Qaz is offline
Senior Member
 
Join Date: Jun 2009
Posts: 44
Qaz is on a distinguished road
Default

700psf for a freehold condo? which development?

I rented out rooms, that's why only $1700 combined. Wud have gotten more if I rented out whole unit.
Reply With Quote
  #8 (permalink)  
Old 11-08-2011, 08:04 AM
Unregistered
Guest
 
Posts: n/a
Default

From a numbers perspective, think you have done well. I'm generally negative on the housing market but think an EC is generally a safe investment.

However what you have done (renting out hdb within 3 yrs) may not have been legal, as mentioned by another poster above.
Reply With Quote
  #9 (permalink)  
Old 11-08-2011, 11:08 AM
Super Member
 
Join Date: Jul 2011
Posts: 115
undiscern is on a distinguished road
Default

Quote:
Originally Posted by Qaz View Post
700psf for a freehold condo? which development?

I rented out rooms, that's why only $1700 combined. Wud have gotten more if I rented out whole unit.
Quite a number of boutique development about 5yrs old was going at that price at the time u book your EC. look around propertyguru trends. but since you have footed for your EC, no need to look back.
Reply With Quote
  #10 (permalink)  
Old 13-08-2011, 02:26 AM
Qaz Qaz is offline
Senior Member
 
Join Date: Jun 2009
Posts: 44
Qaz is on a distinguished road
Default

I just book my EC last week, have look around for options in that price range but only available ones are suburban old condos / ECs.

Since I have not yet exercise my options, pls share which 5yr old condos is east coast condo is going at $700psf. The loss fm not exercising my option for the EC is minimal if i can get a penthouse condo at east coast for the same price!!
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Margin Call on your Housing Loan Salary.sg Investments and Net Worth 11 09-01-2013 06:21 PM
"LOWER HDB VALUATIONS OR BUILD MORE AFFORDABLE HDB HOUSING FOR SINGAPOREANS" petition designez Investments and Net Worth 6 11-10-2009 01:09 AM

» 30 Recent Threads
How much to ask for starting pay... ( 1 2 3... Last Page)
189 Replies, 67,948 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
3,366 Replies, 1,389,677 Views
How is life as a doctor in... ( 1 2 3... Last Page)
2,908 Replies, 1,460,342 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
575 Replies, 458,101 Views
Top paying companies in SG for... ( 1 2 3... Last Page)
97 Replies, 138,374 Views
GovTech Tech Associate Program... ( 1 2 3... Last Page)
113 Replies, 44,548 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
91 Replies, 26,917 Views
High Finance Thread ( 1 2 3... Last Page)
346 Replies, 111,105 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,150 Replies, 1,719,130 Views
GovTech ( 1 2 3... Last Page)
484 Replies, 345,096 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
4,204 Replies, 2,593,698 Views
Compare civil service salary ( 1 2 3... Last Page)
12,726 Replies, 7,484,676 Views
Mnc jobs - a must in life ?? ( 1 2 3... Last Page)
168 Replies, 68,573 Views
Officer Role in Bank of Tokyo -... ( 1 2 3... Last Page)
208 Replies, 172,146 Views
Working 2 FT (remote) jobs?...
2 Replies, 140 Views
DBS tech seed programme ( 1 2 3... Last Page)
1,084 Replies, 269,420 Views
Luxoft
0 Replies, 29 Views
Lawyer Salary ( 1 2 3... Last Page)
14,342 Replies, 4,825,078 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
2,065 Replies, 566,923 Views
Grab Finance Graduate Programme... ( 1 2)
16 Replies, 2,017 Views
UOB Management Associate Program ( 1 2 3... Last Page)
468 Replies, 287,685 Views
Queries about Cpib application ( 1 2 3... Last Page)
1,282 Replies, 651,676 Views
Getting MBA worth? ( 1 2 3... Last Page)
133 Replies, 101,002 Views
Business Manager role in...
0 Replies, 89 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
821 Replies, 221,690 Views
Relocation to the US or stay in SG? ( 1 2 3)
20 Replies, 792 Views
Working in NEA ( 1 2 3... Last Page)
71 Replies, 89,225 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
3,951 Replies, 1,809,762 Views
How to start a small business ( 1 2)
14 Replies, 7,768 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 10:23 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2