To sell or not to sell our pty

[DesertWind]

MMM:

Hi DesertWind,


I understand where you are coming from. Eg. when it comes to government's hong pao, my parents are now getting less as compared to when they were staying in a 3 room HDB flat.

I always joke with hubby that maybe when we are old, we will move to my parents' place. It's very convenient and relatively small compared to our house so easy for us to manage.

Hi MMM,

Thanks for your explanation!
Wah, I think the 3-room HDB was already very old lah hence your family needed to do what needed to be done! My parents stayed in a 3-room HDB too until some years back got en-bloc to a new 4-room flat. Otherwise, it would be very run-down as well!

Yes, we just have to go along and see. Because I also cannot imagine to control medical costs, in the future, everybody got to down-grade to public housing. Does not really make sense. The answer is surely like what financial-guru says, make sure we all have GOOD HEALTH, health insurance, medishield, medisave to guard the medical costs!
:celebrate:

[financial_guru]

DesertWind:

4. For those with \"uncurable\" disease, to consider the costs burden on the children instead of insisting on treatment.

(My view: This one a bit difficult for me to stomach because if we encourage such cases, most old and suffering may just want to end their lives in consideration of their family! )

I agree..v cold blooded...but sometimes for families with little financial resources, no choice
The old have to 'sacrifice' for the good of the later generation.

[DesertWind]

MMM:

We were rather lucky/ blessed as at the point of entry, the market was still low. At that point, I was banking on casino potential. That was back in 2007 when we paid $500k+ for their 3 bedroom apartment in the central east and the price has almost doubled. We like its location and it is also within 1km to a popular school. Going in at a low entry point and with low interest rate meant that I've been trying to refinance and pay off the bank loan aggressively. I still have 12 yrs to go and I will pay off the place fully.

Hi Hi,

Wow, your timing is good indeed! For me, I would be very tempted to sell the private apartment, get the profits (get rid of the loan too) and then buy a HDB 4-room at an equally great location for the old folks! But I am just being very kaypoh and seeing the dollars signs in front of me.... heh...heh...don't mind!

[starlight1968sg]

DesertWind:

Hi financial_guru,...

Mr TKL is \"well known\" for his pt 4, if you have been following his blog. I can't swallow it too BUT he has a valid point too.
Medical bills are spiralling out of control but we will all fall sick one day or eventually.
HOW ???

[financial_guru]

starlight1968sg:

Mr TKL is \"well known\" for his pt 4, if you have been following his blog. I can't swallow it too BUT he has a valid point too.
Medical bills are spiralling out of control but we will all fall sick one day or eventually.
HOW ???

Pray v hard we'll never come to this stage!

[2000 modern daddy]

property is meant for long term stay and investment. one shd not sell it bec price is good. (what is good? no one knows)… if u sell now at so call high price, u will have to buy a replacement (say flat) at a high price too… what is the diff?


guess u have to look into ur priorities now. is the bk loan too much of a burden? how does it affect the kids w change of environment?

[Tania]

My neighbour just sold his unit and it triggers our tot again on selling our apt. After selling off our apt shld i buy a HDB and use the spare cash for investment or buy private apt at far far away places like upper bt timah. Any advise??


Any cheap and good buy apt???

Would u buy a 4 room or 5 room HDB?

[Funz]

DH and I are mulling over this now. To sell or not to sell.


We have been getting a lot of calls from property agents lately and the offer prices are :shock:. When we bought this property we never imagined that it's value will go up so much.

DH has always dreamed of owning and living in a landed property. Problem is landed property around our current area is really very ex. If we move out of this area, kids will have to travel a bit more to get to school.

We may not sell now, but I think this will not be our last home. I am just wondering, if we really do sell and buy, does it make sense to buy a strata landed since I prefer a place that is managed with facilities, so that maintenance and upkeep will be easier. What are the long term implications living in a strata landed vs a landed?

[LOLMum]

have you visited any strata landed properties? i find the new (those built in the last 5 years) ones have very small bedrooms and too close to each other for privacy. i saw one at barker road some years ago and though i like it very much, the rooms are too tiny.


the older ones like fernhill cottage, kews garden (i think thats the name) and summergarden (i think that’s the name and it is at bedok/simei) to name a few are better valued for $$$.

[MMM]

Yes agree those strata landed properties have very small rooms… We’ve a relative staying in a 5 storey strata landed which comes with a lift. But as they described, it’s just like the build up from 2 carpark space. Their masterbedroom is really tiny not to mention the other bedrooms. It feels very cluttered. As there was a big group visiting during CNY…got problem finding a place to sit as it was just so tiny.


I would prefer landed as there is always an option to upgrade the house should you want to. You can choose to build an additional room, etc… if you can do so financially or structurally.

I was joking with ds who is turning 9 this year that he need to start to save up $1mln so that he can potentially rebuild/ upgrade the house in 20 years time. His dream house is 5 storey so that we can potentially have at least 12 bedrooms. One level for us, one level for my parents, one level for pils, one level for kids. Or in the future, 1 level for dd1 and her family, 1 level for ds and his family, 1 level for dd2 and her family, and 1 for us. But parking would be a challenge.

Well… I am day dreaming… Hubby is always like… why do we need such a big house??? What is so great about it??? Imagine if there are only 2 of us in such a big house??? Isn’t it scary? His dream retirement home would be a high floor condo with great view. Don’t have to ensure you lock all the doors, grilles, etc (for landed)… just need to lock the main door of the condo unit.