To sell or not to sell our pty

[verykiasu2010]

cherrygal:

peapot:

It's true alot of people I know is selling now and renting till prices drop.

That's a risk to take actually. You never know if prices will go higher and you will then be stuck in a lower end house. I know of pple who sold a 3600sqft semi-d in the north for $1.5m three years back, thinking that was the highest it would go. They then bought a HDB flat in the hope that when prices come down, they would re-enter the landed property market. Their old semi-d is now going for >$3m. He ended up re-investing his money in a small condo in the east since he knew that landed property is now a far-fetched dream.

Best thing to do now is to pay off your current home loan which you have bought at a low price, then wait for prices to fall before you get your second or third property.

got a friend too who took the gamble and lost

thinking that landed house price will drop and then buy back later ..... sold a terrace in D11 at $2m but it went up to $3m a year later, and now the same house is going for $3.6m

no way to buy back, ended up in a small condo at high psf price

[dicky]

Best never to gamble with your own home…

[Tania]

Is it the right time to sell private pty?

[fightingmom]

Tania:

Is it the right time to sell private pty?

First thing first, what is the reason for selling ?

[Tania]

fightingmom:

Tania:

Is it the right time to sell private pty?

First thing first, what is the reason for selling ?

take profit lor

[verykiasu2010]

Tania:

fightingmom:

[quote=\"Tania\"]Is it the right time to sell private pty?

First thing first, what is the reason for selling ?

take profit lor[/quote]not unless it is a permanent downgrade in size and a change to less expensive location

location is the best value protector for any property

[MMM]

I think the type of housing you are currently in also matters.


We’ve a relative who sold off their cluster house in Upp Thomson area as they anticipate the property to slump. They wanted to get a landed in bukit timah area. However… till now… the slump esp for landed properties has not happen. So they are currently renting.

[kooky83]

Tania:

Is it the right time to sell private pty?

It depends on your location. But i know areas such as Pasir Ris have more and more condos coming up, if your condo is valued lesser than the other condos in that area for the next few years, I suggest it's time to sell it

[verykiasu2010]

MMM:

I think the type of housing you are currently in also matters.


We've a relative who sold off their cluster house in Upp Thomson area as they anticipate the property to slump. They wanted to get a landed in bukit timah area. However.... till now.... the slump esp for landed properties has not happen. So they are currently renting.

the URA data on landed houses in bukit timah shows no slowing down. there is no new supply in those area, all land are occupied; hence whoever wants it will have to pay a premium to dislodge the current owner. an old terrace of land 18xx sq ft was sold for 4.19m recently, plus factor in another million to rebuild it, plus stamp duty and prof cost ....it is anything above $5.5m

[fightingmom]

Tania:

fightingmom:

[quote=\"Tania\"]Is it the right time to sell private pty?

First thing first, what is the reason for selling ?

take profit lor[/quote]If your purpose is to cash out and has an alternative place to stay, then IMO sell now. Or you manage to find another place that can give you a better yield.

However, if you are selling your one and only house and intend to buy another , then maybe have to reconsider because you sell high , buy high too unless you change the district - say you sell a district 9 house to buy a district 23 or 25 ; then maybe feasible.

And I agree with what vk2010 mentioned earlier , the basic \"rules\" of house hunting is always location, location, location !

Just my 2 cents worth and Hope it helps !