Whats your net worth

Originally Posted by Unregistered

Singapore properties are now at a peak, might be dangerous to go in now, also not financially wise to pour in all yr savings. What about saving for yr retirement and yr kid's uni in future? If rts really comes up, can even buy a car in malaysia, and travel quite easily via mrt to work and school. Think it is a financially wiser move as property may drop soon in singapore. Hdb for passive rental income and jb has lower cost of living means you can retire earlier rather than slog all yr life. Jobs security in singspore is also not guaranteed.

It doesn't really matter. We are selling our flat at a high too and then buying a condo taking only 30% loan. Our equity buffer is 70%, so we don't worry at all. What's worrisome are those stupid youngsters who take 80% loan for their home and still have the guts to buy an investment property. These stupid people will lose both their home and investment property if market falls and they have no tenant. For us, we buy for stay and we can easily afford to service our loan. We rather work longer and live safely in Singapore than living in fear in JB.

Originally Posted by Unregistered

I have a landed terrace now and hope to pay off the outstanding loan soon, also just bought a semi d in jb gated and guarded in an upmarket area. Hope to retire in 8 years time when i will be 46 years old by renting out or cashing out my landed. Can travel via rts and thomson line for my 2 kids for their school and may still work a bit if bored.
More singaporeans should do this, buy a house or condo freehold in jb and rent out their hdb for early retirement. Why slog all yr life in singapore?

Good luck to you and family. I love my family a lot. Don't want them to toil having to travel so far. Also I don't want to keep worrying about their safety. I have a beautiful daughter whom I love dearly. I rather sacrifice working harder and longer for my family. Family first, wealth last.

JB properties are in big bubble. Oversupply. There are plenty of land. Can buy but difficult to sell. And btw, be prepared for the RM to continue falling, one day it will reach S$1 = RM3.50. So you risk losing on both price falls and on currency loses. Ouch.

Be careful of agents and property seminars. What they will tell you is "don't sell your HDB flat. Rent out your HDB flat, then buy condo. Use HDB rental to pay for condo mortgage payment". They tell you all the pretty picture. What they didn't tell you is that the market price and rental are falling. We are going to have a huge oversupply of rental properties, so you may not even get a tenant. Some more, if price drop by 30% and your loan is 80%, then you are in deep problem. The banks may ask you to top up as you are underwater. So if market drop by 30%, both your HDB and condo value drop by 30%!

The best thing to do now is to sell your HDB and get a high price and then buy a condo within your means. Best is to put downpayment of 40%, so if market drop by 30%, you are still above water and bank will not call you. Right time to upgrade to condo if you can afford. Highly risky time to buy investment property.

Got a few friends who bought Iskandar properties last year and were in shock that the RM plunge so much within such a short time that they are now in lose SGD wise despite being told by agents that Iskandar is endorsed by big institutional investors and well known tycoons from Singapore & Malaysia.

Originally Posted by Unregistered

Got a few friends who bought Iskandar properties last year and were in shock that the RM plunge so much within such a short time that they are now in lose SGD wise despite being told by agents that Iskandar is endorsed by big institutional investors and well known tycoons from Singapore & Malaysia.

They should have used whatever spare cash they have to pay down their existing loans and not to take on more loans. When interest rate shoot up, they will be in big trouble as they will need to finance both their Spore and JB properties. If they lose their jobs, then how? Sure die.

Originally Posted by Unregistered

They should have used whatever spare cash they have to pay down their existing loans and not to take on more loans. When interest rate shoot up, they will be in big trouble as they will need to finance both their Spore and JB properties. If they lose their jobs, then how? Sure die.

Agree with you, but they already quite down so didnt want to add fuel to fire. 2 of them say they want to continue hold for the long term and wait for it to rise another 1 told me he appoint an agent to sell, but so far no buyers with good price and the agent charge a very big commission of 3.2%.

Lucky all of them still have jobs and can service the loans as long as they dont get retrenched, but definitely a expensive lesson for them.

Actually a lot are buying it as a weekend home and future retirement home so the currency risk does not matter so much. With a house there, one can definitely retire much earlier and the crime there is sometimes exaggerated. So many are already staying there and commuting to Singapore, have not heard of them being affected by any serious crimes yet.

Originally Posted by Unregistered

Actually a lot are buying it as a weekend home and future retirement home so the currency risk does not matter so much. With a house there, one can definitely retire much earlier and the crime there is sometimes exaggerated. So many are already staying there and commuting to Singapore, have not heard of them being affected by any serious crimes yet.

The key word is "yet", when you are old, you will be the prime target. Retire in peace or in fear? I rather retire in a humble small condo or a small HDB flat in Spore. Life is too precious.

To me, one time is too many.

Originally Posted by Unregistered

Agree with you, but they already quite down so didnt want to add fuel to fire. 2 of them say they want to continue hold for the long term and wait for it to rise another 1 told me he appoint an agent to sell, but so far no buyers with good price and the agent charge a very big commission of 3.2%.

Lucky all of them still have jobs and can service the loans as long as they dont get retrenched, but definitely a expensive lesson for them.

Tell them to cut their losses and bring back their money. What if S$1=RM4? Don't say currency losses doesn't matter, that's stupid excuse. Better sell now before the panic exit starts. After they get back their money, tell them to pay off their Singapore mortgage and don't be itchy. Better be safe than sorry.