Buying a house/apartment with tenancy

[loner]

CMF:



:thankyou:







Above are just some clauses to look out for, but you should definitely have your lawyer review the agreement, especially since the agent has a vested interest in the property.[/quote]

[cherrygal]

loner:

Anybody has any experience in buying a house/apartment with tenancy? The seller's agent happened to be the tenant himself and b'cos of that I'm afraid the tenancy agreement will be a biased one. Am I able to get my own agent to prepare a new piece of contract or my represented lawyer will be able to ensure the rental contract is a fair one ?

Loner,
You decided to buy an apt instead? Not buying the sports car?
Or buying both? :moneyflies:

I also want to buy an apt with tenancy. Yes, you should get a new contract under your own agent.

I find that tenancy agreements in Singapore do not protect the landlord that well. I used to rent an apt in Australia and those agreements are biased towards the landlords, which I think is very good. Tenants should not be allowed to play punk with other people's property.

[loner]

cherrygal,


Bought a Merc 180 already. Spotted a house which DH and me quite like, but its selling with tenancy. Thus not sure is worth investing as the rental is only $5.5k and its asking price is 1.7mil... :?
Hoping the market will drop further... Anybody has any clue what will be the private property trend like for the next few months?

[verykiasu2010]

loner:

cherrygal,


Bought a Merc 180 already. Spotted a house which DH and me quite like, but its selling with tenancy. Thus not sure is worth investing as the rental is only $5.5k and its asking price is 1.7mil... :?
Hoping the market will drop further... Anybody has any clue what will be the private property trend like for the next few months?

which Merc 180 huh ? (kaypoh me!)

5.5k rental on $1.7m is very low return leh, after deducting tax and loan interest and depending on your capital amount...but if you are not using any loan, the rate of return is even worse, purely on investment point of view without considering capital appreciation (it could go up or go down)....of course if you are more or less sure there is only upside no matter what, it is a possible investment case, provided there is some gearing, to lower your cost of capital

what size is the ppty ? freehold ? district 10 ? landed ?

[cherrygal]

woohoo… flashy car and new house!


A financial adviser once advised, for better rental yield, you should get old apt, 99yrs lease. 2-bdrm will be best. Don’t buy a new condo and rent out coz it is very "sim-tia" when pple spoil your things.

For long-term investment, freehold landed is still the way to go. Landed will never get very good rental yields. It’s more for self-stay and overall appreciation.

[loner]

[verykiasu2010:


Just a 2nd hand car lah!

Understand the returns are not attractive but b’cos the unit (freehold) has quite a good layout and is located near amenities thus wonder is better to lock into the pricing now or sit back to wait and see what’s next…

[duriz]

loner:

cherrygal,


Bought a Merc 180 already. Spotted a house which DH and me quite like, but its selling with tenancy. Thus not sure is worth investing as the rental is only $5.5k and its asking price is 1.7mil... :?
Hoping the market will drop further... Anybody has any clue what will be the private property trend like for the next few months?

Wow, double congratulations to you loner

[loner]

Thanks duriz ! Blessed by Lord....

[toddles]

loner:

cherrygal,


Bought a Merc 180 already. Spotted a house which DH and me quite like, but its selling with tenancy. Thus not sure is worth investing as the rental is only $5.5k and its asking price is 1.7mil... :?
Hoping the market will drop further... Anybody has any clue what will be the private property trend like for the next few months?

depending on yr time horizon.... think pte ppty price index will drop in the next few years. but if it's just the next few months, no telling really, cos even with the cooling measures the irrational exuberance seems to be prevailing...

[cherrygal]

toddles:

loner:

cherrygal,


Bought a Merc 180 already. Spotted a house which DH and me quite like, but its selling with tenancy. Thus not sure is worth investing as the rental is only $5.5k and its asking price is 1.7mil... :?
Hoping the market will drop further... Anybody has any clue what will be the private property trend like for the next few months?

depending on yr time horizon.... think pte ppty price index will drop in the next few years. but if it's just the next few months, no telling really, cos even with the cooling measures the irrational exuberance seems to be prevailing...

Yesterday news reports say that private landed properties outside of prime areas will rise in value. So, despite the cooling measures, prices going up?