How much is enough for retirement in Singapore?
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starlight1968sg:
hdb rental usually cant cover but it usually gives much better return than pvt.MrsKiasu:
dh & I did some calculation the other time..so long as the net rental income is more than bank interest..when times are bad, renting at lower than your expected price may still be ok.
Rental income of hdb is not enough to fund monthly bank loan of condo -
MrsKiasu
By renting out the hdb, higher property tax payable due to 2nd property.
The rental income is taxable… -
starlight1968sg:
Certain area is still more attractive than others. But rental will be definitely be on the decline the next few years. For u guys should be fine cos ur HDB is fully paid and only need to support condo. With many years of working life plus frugal lifestyle, u guys will make it. I definitely have more confidence in your ability than most of my friends and cousins. Some of them are living beyond their means.OT: TA
There are so many flats and condos, how can the market be attractive? -
starlight1968sg:
how much more prop tax on 2nd prop..i never check also. only remember the own staying unit will be at residential rateMrsKiasu
By renting out the hdb, higher property tax payable due to 2nd property.
The rental income is taxable...
last time if unit is vacant no need pay as high tax as of now? think read this change few years back. I better go read up.
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When market slumps, not everyone is affected in fact it can be advantageous. We r waiting for next month to scoop up 1 more corporate bond, bringing our number of corporate bonds to 6. Then wait for suitable chance to acquire the next property. Need to wait a while. Cannot rush.
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TheAnswer:
Thanks TA
Certain area is still more attractive than others. But rental will be definitely be on the decline the next few years. For u guys should be fine cos ur HDB is fully paid and only need to support condo. With many years of working life plus frugal lifestyle, u guys will make it. I definitely have more confidence in your ability than most of my friends and cousins. Some of them are living beyond their means.starlight1968sg:
OT: TA
There are so many flats and condos, how can the market be attractive?
Spoke to dh about this topic.
He was day dreaming to sell the hdb when the price is right :yikes:
The cold hard truth is we have to continue working for some more years in order to secure a better retirement. -
starlight1968sg:
Property tax is tax deductible. Agent fees also tax deductible. Interest paid for mortgage also tax deductible. Total can deduct up to maximum 15% of ur rent.MrsKiasu
By renting out the hdb, higher property tax payable due to 2nd property.
The rental income is taxable... -
TheAnswer:
When market slumps, not everyone is affected in fact it can be advantageous. We r waiting for next month to scoop up 1 more corporate bond, bringing our number of corporate bonds to 6. Then wait for suitable chance to acquire the next property. Need to wait a while. Cannot rush.
:rahrah: whoa happy feeling leh! -
TheAnswer:
agent fee on new lease deductible or not? think dunno which item, only deductible upon renewal.
Property tax is tax deductible. Agent fees also tax deductible. Interest paid for mortgage also tax deductible. Total can deduct up to maximum 15% of ur rent.starlight1968sg:
MrsKiasu
By renting out the hdb, higher property tax payable due to 2nd property.
The rental income is taxable... -
I’m expected to work full time for the next 5 years then maybe part time thereafter if I want. I probably will work till 55 too. If not how to spend my time. 5 years later, Sonny will be 17. He where got time for me?? Hubby will work till 55 unless he is retrenched but these days he is dreaming of being his own boss no need to work office hours. He is one lazy bum. Heng our kids dun take after him. Damn slack.
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