HDB and Condo
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I went to WaterTown too.
SOHO is suitable for small families (2 adults and 1 child). -
Nowadays, most of my frens who bought HDB flats end up buying private property and not selling their flats. They prefer to rent out their flats… no wonder analysts say less and less resale flats available…
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No reason to sell when you can rent out, it’s passive income.
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JonC:
No reason to sell when you can rent out, it's passive income.
govt encourage old people to be financially independent, no? :evil:
i am working hard towards this dream of passive income....as soon as i pay off my 30yrs loan
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Singaporeans should buy an HDB flat as it is an asset to own one being a citizen…although it is not freehold. But I thought it is not allowed to own both HDB and private ?
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cherrygal:
Nowadays, most of my frens who bought HDB flats end up buying private property and not selling their flats. They prefer to rent out their flats... no wonder analysts say less and less resale flats available...
I agree n i thk it also makes sense not to sell the HDB!
Rental collected from the HDB flat can help to pay for the monthly private condo insalment. Then when the couple grow old n their kids all grow up n get married, shift out liao n they don't really need to use the condo facilities anymore, they can switch back to staying in HDB n sell or rent out the private property!
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janet_lee88:
Singaporeans should buy an HDB flat as it is an asset to own one being a citizen...although it is not freehold. But I thought it is not allowed to own both HDB and private ?
Thk the last rule was when u buy HDB, got min period (5 yrs?) before u can buy private.
Those who own HDB for more than the 'barring period' liao can therefore buy the private.
However, the opp holds true for your stt, ie, if you own private property, u can never buy HDB!
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vicki:
OIC...so have HDB can buy private after staying 5 years but no no if vice versa....get it, thanks. Too many changes now. No dough to think of condo either...servicing my loan till hubby reaches 60. Heard now if buy condo, every month the amount to pay is very high.janet_lee88:
Singaporeans should buy an HDB flat as it is an asset to own one being a citizen...although it is not freehold. But I thought it is not allowed to own both HDB and private ?
Thk the last rule was when u buy HDB, got min period (5 yrs?) before u can buy private.
Those who own HDB for more than the 'barring period' liao can therefore buy the private.
However, the opp holds true for your stt, ie, if you own private property, u can never buy HDB! -
cherrygal:
Nowadays, most of my frens who bought HDB flats end up buying private property and not selling their flats. They prefer to rent out their flats... no wonder analysts say less and less resale flats available...
Don't sell off your HDB flat even when you are getting a condo. The new ruling states that one cannot buy a HDB flat if one is currently holding a condo. So one have to sell off the condo, stay at a rented place for an extended period of time before one is allow to buy HDB flat again
Holding a HDB flat is a prized asset now -
janet_lee88:
If you have an existing housing loan, you can only loan up to 60% for the new property. That means you have to cough up a minimum of 40% for down payment. This is additional to cash buffer you have to set aside for progressive payment, property tax, repair for wear-and-tear for your rented place & electrical appliances. And also cash buffer to pay monthly housing loan if you can't find tenant for your place for an extended period of time. Unless you are heavily leveraged which is not advisable.
Too many changes now. No dough to think of condo either...servicing my loan till hubby reaches 60. Heard now if buy condo, every month the amount to pay is very high.
With the pricing now at ridiculous high, it is not a value buy yet. Now everywhere (even for hillview, ponggul etc selling at > $1,000 psf) Hold on for a while
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