Advice Needed: Should I buy a condo now?

typical sinkie edu system, sit and wait for spoon fed. all the question take me <5min to google also cant be bother to research

a. condo price / downpayment - found at any property portal
b. price of bto - stated in hdb & many media articles
c. utilities - average stats can find on sp or the back of mthly bill
d. mthly mortgage payment - any online instalment calculator can find out
e. 31 yr old can buy bto - hdb rules state clearly
f. crap about "2005 property slump" - totally go against published ura stats

Why not get married and then buy a 3 room resale HDB flat costing only $300k plus?
This should be within your financial means. You can use your $160k to make a 50% downpayment. This is prudent and will not be taxing on your finances. Don't dream of buying a condo. You can't afford it. Btw, you can lose your job any time.

Originally Posted by baby_predator

Everyone has to start somewhere yes?

I like your condescending attitude and putting me down as a poor nobody. Gives me more fire to want to achieve much more.

Spare us the rah rah. Most peeps here have as much if not more fire than you have to make big money, that means zilch by itself.

Also as forumer above noted, your fire does not extend to even spending 5 minutes of your fiery time doing google searches to some of the most basic of all questions.

I have met super rich yet humble folks who are never unwilling to share a tip or two. Granted nobody will tell you everything, but there are surely ways to pick up useful scraps.

Really? So why dun you learn from these so called super rich humble folks you know? Seems rather silly to have these tycoons willing to share tips with you personally and yet still waste time posting on some random forum asking for what condo to buy.

After all that blabbering, your point is to ask whats the point of my thread? Isn't ir obvious I am asking for thoughts on affordability based on my current circumstances?

Like I said, what exactly is it that you are trying to achieve here? Ask for tips on what to buy when you have no means to buy?

You need to be more mature and fact based when it comes to wealth creation and go beyond generic cheerleading on positive attitudes and future riches.

For those w/o enough money stocks or unit trust are much better choice to invest first and save up until you can afford to speculate in condo.

Don't have to speculate, it is 100% that property price will drop soon. By 2016-2017, it may even crash.

Following the above prediction, it is of course a bad idea to invest in condo now.

Don't have to speculate, it is 100% that property price will rise soon. By 2016-2017, it may even cheong.

Following the above prediction, it is of course a good idea to invest in condo now.

Cheong your head.

Just check this link which is the chart for ETF 20 years treasury bond (symbol: TLT)

iShares 20 Year Treasury Bond E ETF Chart - Yahoo! Finance


It has fallen by more than 10% in the past 2 months. That is earth shaking for a bond which is suppose to have very low risk. It also portends a rising market interest rate in the near future. In fact, if you see the 30 years chart, it shows that an era of low, falling interest rate is just over and we are entering a new era of the inverse which is rising and higher interest rate to come.

People with some little knowledge in finance will know that interest rate is like marker that prices of all other assets will be evaluated. a changing interest rate environment from falling to rising means that all assets class will be re-evaluated in the near future.

Why do you think the government want to put cooling measures to the property market at this time?

self declared experts like you have been saying property will crash since 2010, time to wake up. in the market price counts, theories count for nuts.

Originally Posted by Unregistered

Cheong your head.

Just check this link which is the chart for ETF 20 years treasury bond (symbol: TLT)

iShares 20 Year Treasury Bond E ETF Chart - Yahoo! Finance


It has fallen by more than 10% in the past 2 months. That is earth shaking for a bond which is suppose to have very low risk. It also portends a rising market interest rate in the near future. In fact, if you see the 30 years chart, it shows that an era of low, falling interest rate is just over and we are entering a new era of the inverse which is rising and higher interest rate to come.

People with some little knowledge in finance will know that interest rate is like marker that prices of all other assets will be evaluated. a changing interest rate environment from falling to rising means that all assets class will be re-evaluated in the near future.

Why do you think the government want to put cooling measures to the property market at this time?

It would help if you could come up with some suggestion of your own first and then we can discuss from there, you must have your own opinions of what you like and want no?

i.e, is it self stay? do you pefer old/new? Near mrt or future mrt? etc etc

there are too many variations not too mention the market sentiments for us to just have an "open discussion" and frankly I can't be bothered to write a full story on what I look for.

Come up with your own points and then lets take it from there.

Originally Posted by baby_predator

I currently have about 160K in cold hard cash( I know is quite pathetic, but still growing my pot of wealth has to start from somewhere right?) , and would be able to make good on monthly payments of up to 1.5K (everything including mortgage loan, condo conservancy charges, utilities bill etc ) . As a first timer, should I consider entering the market now? If so what projects would the old birds recommend?

If not, should I wait for things to cool off since a slew of measures of MAS have just been implemented and interest rates might rebound forcing more than a handful to sell off their property (aka another recession) hence enabling prices to drop substantially?

Of course during this period I am still working hard to expand my warchest.

Please advise, thanks.

Originally Posted by Unregistered

What really is the point of this thread?

You do not have enough money to buy a condo and from all your replies it seems you don't even have any clue about basic finance or property investment. All you have going is some hope for money in some undefined future.

I don't see any point in where this is all going.

You jealous people got 160K at 31 years old you don't have is it? Work harder, don't slack. Next time also you will have. Then you will see a point. Who ask you don't work hard.

Ok, run along. Nothing to see here.