Rent out HDB and stay in condo - Page 2 - 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




Rent out HDB and stay in condo

Reply
 
Thread Tools
  #11 (permalink)  
Old 03-07-2009, 10:44 PM
Senior Member
 
Join Date: Jun 2009
Posts: 40
bjhchong is on a distinguished road
Default

I believe parental support compliments accumulation of wealth (despite the stigma... :P) heck, how did our Dick Lee become so great if not for parental support?

Reply With Quote
  #12 (permalink)  
Old 04-07-2009, 02:18 PM
dickie
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by bjhchong View Post
I believe parental support compliments accumulation of wealth (despite the stigma... :P) heck, how did our Dick Lee become so great if not for parental support?
You have something against Dick Lee? Or just envious he's born with silver spoon? Btw, I like his Mad Chinaman album. He's damn talented.

Reply With Quote
  #13 (permalink)  
Old 01-08-2009, 09:58 AM
angie
Guest
 
Posts: n/a
Default

why is everyone so sure of the demand in the rental market (hdb/condos/etc) in the coming years?

Reply With Quote
  #14 (permalink)  
Old 03-08-2009, 11:54 AM
Goondo
Guest
 
Posts: n/a
Default

" angie why is everyone so sure of the demand in the rental market (hdb/condos/etc) in the coming years? "

Because garment says Singapore is the best place to live in the world and the whole world wants to come live in Singapore. Those foreigners who says they don't want to are just not truthful. More people = more demand for land and rental.
Reply With Quote
  #15 (permalink)  
Old 03-08-2009, 07:09 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by angie View Post
why is everyone so sure of the demand in the rental market (hdb/condos/etc) in the coming years?
Easy. We have the TWO integrated resorts, F1 for the next 4 years, Youth Olympics, and soon, more funds in our Temasek Sovereign Fund which in the long term can generate respectable profits.

Even at this "worst" recession since independence (or since great depression depending on where you're from), our unemployment is only 3.3%. This shows our government is doing a superb job in making our economy extremely resilient.

Furthermore, look at the condo showroom crowds. The people can't be wrong. If they are wrong, they will be screwed. Will the government allow this to happen?

We should all stock up on stocks and property NOW when they are still cheap. When the economy recovers, we are sure to reap HUGE profits.
Reply With Quote
  #16 (permalink)  
Old 04-08-2009, 10:18 AM
Junior Member
 
Join Date: Aug 2009
Posts: 1
macman is on a distinguished road
Default

I am currently staying in an HDB massionette in Toa Payoh. The recent selling price of similar flats is now about $140K above what I purchased it for. I am still eligible to purchase a new HDB subsidised flat but will probably not be eligible in 1 or 2 years time due to the household income restrictions. I am considering the following options

1) Do nothing and hopefully the price of my flat will increase further
2) Buy a small condo and rent out my flat
3) Sell the flat and buy a smaller new subsidised flat

What would you do or are there any other better options? thanks for the advice.
Reply With Quote

  #17 (permalink)  
Old 04-08-2009, 11:20 AM
Husky's Avatar
Senior Member
 
Join Date: Jun 2009
Posts: 91
Husky is on a distinguished road
Default

Quote:
Originally Posted by macman View Post
I am currently staying in an HDB massionette in Toa Payoh. The recent selling price of similar flats is now about $140K above what I purchased it for. I am still eligible to purchase a new HDB subsidised flat but will probably not be eligible in 1 or 2 years time due to the household income restrictions. I am considering the following options

1) Do nothing and hopefully the price of my flat will increase further
2) Buy a small condo and rent out my flat
3) Sell the flat and buy a smaller new subsidised flat

What would you do or are there any other better options? thanks for the advice.
If I am in your position, I will buy a small condo and rent it out. Use the rent to pay for (at least part of) the mortgage.

But really depends on your priorities in life. If you think you have slogged enough and want to "enjoy" some fruits of your labour. Rent out your flat, buy a condo to live in.
Reply With Quote
  #18 (permalink)  
Old 06-08-2009, 12:14 AM
conservative
Guest
 
Posts: n/a
Default be conservative

I would pick (3). Since you are not a high income earner, it's better to be conservative. Do not overstretch. I'm of the view that the housing market - both HDB and condo - is frothy and bubbly now. Whether the bubble will burst soon is anyone's guess, but why take the risk? You're already up 140k and still have a shot at the second cherry bite. Take it!

My 2 cents.
Quote:
Originally Posted by macman View Post
I am currently staying in an HDB massionette in Toa Payoh. The recent selling price of similar flats is now about $140K above what I purchased it for. I am still eligible to purchase a new HDB subsidised flat but will probably not be eligible in 1 or 2 years time due to the household income restrictions. I am considering the following options

1) Do nothing and hopefully the price of my flat will increase further
2) Buy a small condo and rent out my flat
3) Sell the flat and buy a smaller new subsidised flat

What would you do or are there any other better options? thanks for the advice.
Reply With Quote
  #19 (permalink)  
Old 12-08-2009, 10:23 AM
Verified Member
 
Join Date: Jul 2009
Posts: 13
poor is on a distinguished road
Default

Quote:
Originally Posted by conservative View Post
I would pick (3). Since you are not a high income earner, it's better to be conservative. Do not overstretch. I'm of the view that the housing market - both HDB and condo - is frothy and bubbly now. Whether the bubble will burst soon is anyone's guess, but why take the risk? You're already up 140k and still have a shot at the second cherry bite. Take it!

My 2 cents.
i totally agree!
you are eligible for it before it expired. grab another new unit and start to make another 140k. unless you are enough with 140k you've made and life is not good with HDB.
Reply With Quote
  #20 (permalink)  
Old 13-08-2009, 10:13 AM
teaengpeng
Guest
 
Posts: n/a
Default Hpis

Quote:
Originally Posted by Magdeline View Post
Thanks to all. The link is exactly what I'm looking for.

I plan to move to condo for a better quality of living - better security, good private facilities like gym and pool. At the same time, I wish to keep my HDB as there's still the very low-cost HPIS which is a form of life insurance. With the HPIS, it's as if my husband and I are each insured for a couple of hundred K. Now, speaking of this, does anyone know if the HPIS will be voided if we rent our flat out? Logical reasoning tells me no, unless there's some black and white stating this (I couldn't find any so far).
Hi Magdeline, HPIS will not void if you rent out your flat. HPIS from HDB follows the flat not the owner. It will expire if you sell your flat and you have to buy new one for your next flat at a higher premium due to older age or higher loan amount.

Hope this help.
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
Only 47 percent of Scholars stay in HDB Salary.sg Education and Personal Growth 10 15-04-2011 08:25 PM
Can you Afford that Condo? Introducing the Debt Ratios Salary.sg Investments and Net Worth 3 04-08-2009 09:21 AM
HDB Condo Ratio Salary.sg Investments and Net Worth 4 28-12-2008 10:21 PM

» 30 Recent Threads
Career as Teacher ( 1 2 3... Last Page)
10,851 Replies, 6,670,821 Views
Why Is Having a Google Virtual...
1 Replies, 6,764 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,240 Replies, 3,399,773 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,805 Replies, 1,045,389 Views
JP Morgan ( 1 2 3... Last Page)
199 Replies, 173,413 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,319 Replies, 4,984,846 Views
GovTech ( 1 2 3... Last Page)
5,163 Replies, 2,164,770 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,050 Replies, 440,778 Views
Mining Industry ( 1 2 3... Last Page)
80 Replies, 74,514 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,340 Replies, 4,772,541 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
171 Replies, 309,560 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
680 Replies, 388,769 Views
Compare civil service salary ( 1 2 3... Last Page)
16,343 Replies, 12,458,031 Views
Lawyer Salary ( 1 2 3... Last Page)
21,015 Replies, 10,331,194 Views
ST Electronics ( 1 2 3... Last Page)
3,768 Replies, 1,545,289 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,457 Replies, 784,776 Views
Is getting a PMP worth it ?
4 Replies, 7,171 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,722 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,903,563 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,435 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,657,490 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
309 Replies, 369,376 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 814,027 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,828 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,324,966 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,782 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,751 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,893 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,739,058 Views
MX12 reappointed at MX11
8 Replies, 851 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:34 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2