How much is enough for retirement in Singapore?

[Nebbermind]

lee_yl:

Surprised to hear that. How can it be that someone who bought a resale flat in 1996 could still be losing money / not making profit?

I believe she meant no cash coz most of the profit still stuck in cpf

[sharonkhoo]

ammonite:

Your daughters are in their late teens. You don’t need to wait 20 years! Can happen even within the next five years.

It seems that young people only get married around the late 20s now. Rarely under about 27. And not sure what they can afford at that age, anyway. So selling the flat to one of them should be at least 10 yrs down the road, I would think. And they may not get married - and will stay with us for ages!

[ngl2010]

Is it possible to renovate 5-room flat into something like dual-key condo? So, if we rent out the studio, we won’t see the tenant at all.

[starlight1968sg]

ngl2010:

Is it possible to renovate 5-room flat into something like dual-key condo? So, if we rent out the studio, we won't see the tenant at all.

Do you mean a 5 room hdb flat or a condo unit which has 5 bedrooms?
I doubt can do much with a 5 room hdb flat.

[janet88]

with the purchase of a brand new flat, we won’t have to worry about the lease if we plan to downgrade. hopefully that area will have more amenities coming up as time goes by. so if son likes the flat, he can buy over while hubby and i get a 3 room unit in the same estate.

[lee_yl]

ngl2010:

Is it possible to renovate 5-room flat into something like dual-key condo? So, if we rent out the studio, we won't see the tenant at all.

*like* your idea.

Last time I have heard of people buying over adjacent 3room flat and build a interconnecting door in between.

When HDB officers came over to check, they leave the interconnecting door open (considered as 1 big unit). After HDB officers leave, they shut the interconnecting door as they had secretly rented out the whole unit next door.

I am not sure about 5 room flat because ultimately, it has only 1 main door and 1 kitchen. The Yishun jumbo flats do have 2 main doors

[Nebbermind]

ngl2010:

Is it possible to renovate 5-room flat into something like dual-key condo? So, if we rent out the studio, we won't see the tenant at all.

quite difficult coz most hdb have rooms at one end. But recently saw one floorplan with 1 room in the living hall away from the other rooms...maybe can be done provided it is a MBR

[MyPillow]

janet88:

with the purchase of a brand new flat, we won't have to worry about the lease if we plan to downgrade. hopefully that area will have more amenities coming up as time goes by. so if son likes the flat, he can buy over while hubby and i get a 3 room unit in the same estate.

he will be eligible to buy new flat righ.
unless parents can sell children much lower than market rate, hdb allow or not ah?
How abt sell own private condo , cheap cheap to own kids, possible?

[sharonkhoo]

MyPillow:

janet88:

with the purchase of a brand new flat, we won't have to worry about the lease if we plan to downgrade. hopefully that area will have more amenities coming up as time goes by. so if son likes the flat, he can buy over while hubby and i get a 3 room unit in the same estate.

he will be eligible to buy new flat righ.
unless parents can sell children much lower than market rate, hdb allow or not ah?
How abt sell own private condo , cheap cheap to own kids, possible?

I think HDB will not allow the price to be too different from the valuation. But parents can always help with the down payment, renovations, offer an interest-free loan etc. Not sure there are rules governing pte property.

[Nebbermind]

MyPillow:

he will be eligible to buy new flat righ.
unless parents can sell children much lower than market rate, hdb allow or not ah?
How abt sell own private condo , cheap cheap to own kids, possible?

You can give free too!!
But once you transfer name, a valuation has to be done for stamp duty, cpf usage computation or whatever purposes....correct me if I'm wrong.