To sell or not to sell our pty

[tankee]

Tania:

Actually, our pty has appreciated by abt 50% to 60%.. I am not sure whether it will continue to appreciate or not... I not just not sure whether i can tahan the change of environment if we were to relcoate to another location.. but sometime when i think of the profit we stand to gain... i tink we shld just move and put the money in our pocket..

do remember to take in other \"hidden\" costs in your \"profit\" calculation.
- interest paid over housing loan (and perhaps renovation loan)
- renovation cost
- legal fee
- property agent commission

The potential gain may not be as much as what it appears to be.

[Herbie]

Hi just sell it.

[titank]

Tania:

I am in a dilemma as to whether to sell away our apt. My hubby wants to sell it so that we are free from the bank loan.. use the money to buy HDB and pay in full..


However, I really like where i live right now.. cos it very convenient for me to pick up my kids from school.. i just like the environment around my house.. My hubby is suggesting to move to some where close to his workplace which is Yew Tew/Upper Bt Timah.. But when i think of the traffic around that area i dun feel like selling my apt.

Any advise???

Defintely you can free from bank loan if sell private property & buy a HDB flat. Yes you would need some time to adjust to a new environment especially you had been living in the same neighbourhood for quite a period of time.

Perhaps you should wait for the property to crash then you can sell your low & buy low. It is the same as you sell high & buy high at this time. In a layman term, I just think the property market would crash. SOmething go up sure have to come down!

[KSP]

Just sell it and take profit. The property market has little or no chance to go any further with the gov keeping a very close eye on the price index. More measures will be implemeted if the prices still goes up next quarter. So the buyers now all become sellers. In a speculative market the buyers and sellers are the same bunch of people. A property market without speculators will crash for sure.

[tankee]

titank:

Defintely you can free from bank loan if sell private property & buy a HDB flat. Yes you would need some time to adjust to a new environment especially you had been living in the same neighbourhood for quite a period of time.

Perhaps you should wait for the property to crash then you can sell your low & buy low. It is the same as you sell high & buy high at this time. In a layman term, I just think the property market would crash. SOmething go up sure have to come down!

from private to HDB, it is better to sell high buy high
whereas from HDB to private, it is sell low buy low

HDB price tends to be more stable whereas private is more volatile. The difference between the high and low of HDB is nothing when compared to private properties.

[titank]

When would be the best opportunity where sell high & buy low? Maybe sell away & then temporary move to someone's house. Wehn low then enter the market?

[JackSheo]

titank:

When would be the best opportunity where sell high & buy low? Maybe sell away & then temporary move to someone's house. Wehn low then enter the market?

That is what some people do - sell, rent, buy.

But based on what you have written, I do not think you will like to keep moving house and changing environment right? This is something that will come with renting.

Suggest you reassess with your husband what your priorities are and whether moving to a new place will help to meet these priorities. If it does meet, are you willing to put up the inconveniences and the need to re-adapt to a new environment?

HDB prices will continue to trend down in the near term until such time when the Government announces new changes.

Please feel free to PM/call me for a chat. Alternatively, we can continue to share ideas here.

[ctct61t]

My opinion is that you can sell private house, and buy a HDB now. 5 years later, buy another private house. There will be no big bank loan stress at that time then.

[jasmineong]

I suggest selling as pte property prices are good now and if you can be free of your bank loan as least you can really start on saving up cash and then later maybe get a pte apartment on cash alone. Or you could use any leftover money from selling to invest in a condo (new launches) and sell it once it TOPs and also earn from there.

[maki]

jasmineong:

I suggest selling as pte property prices are good now and if you can be free of your bank loan as least you can really start on saving up cash and then later maybe get a pte apartment on cash alone. Or you could use any leftover money from selling to invest in a condo (new launches) and sell it once it TOPs and also earn from there.

Sell at TOP? Sorry but I don't think it's feasible now with the stringent government measures to curb property speculations. Pls note that there are hefty taxes for the first 4 years!