Bto vs private condo

[Teatreeoil]

10k income + 1.2k cash topup per month + 2 kids coming + all the fees involved, is quite (very) siong imo.

 

 

Agree. That's why we still discussing. And the inputs here in this forum are very informative!

[Mockngbrd]

Your CPF at most $2k only. You need to top up $2k every month for 25 years.

 

I think after 50yr old will need more cash top up.

 

 

Agree. That's why we still discussing. And the inputs here in this forum are very informative!

 

I think if u take BTO you wun get as much white hair. But if u feel you can do it and willing to pia. then good for u also.

Edited December 2, 2014 by Mockngbrd

[Teatreeoil]

 

I think after 50yr old will need more cash top up.

 

 

 

I think if u take BTO you wun get as much white hair. But if u feel you can do it and willing to pia. then good for u also.

Can dye black. Haha.

 

Btw, Singapore has margin calls? Meaning if valuation of property drops due to market forces do banks ask u to top up cash?

[Jman888]

10k income + 1.2k cash topup per month + 2 kids coming + all the fees involved (tax / mentenan / tax / utilities), is quite (very) siong imo.

 

 

 

 

why are you planning kids for them, maybe they dun intend to have?

[Teatreeoil]

 

 

why are you planning kids for them, maybe they dun intend to have?

Have have. Coming

[Spurman]

My opinion... just personal...

 

Rather than risk for the condo.

 

Jump into a 4 or 5 room resale...

 

Actually resale prices dropping... many are even below valuation nowadays.. but then depends on location bah.

 

1 additonal bedroom dun means u need jump into a condo mah.

 

400k for a 3 room bto. I presume its near city area liao.

 

4 or 5 rooms in similar area maybe from 600k onwards bah.

 

Condo for a 3 bedder over in similar location. Hmm.. easy 1.2k psf min

[Spring]

Can dye black. Haha.

 

Btw, Singapore has margin calls? Meaning if valuation of property drops due to market forces do banks ask u to top up cash?

 

Technically, Banks can call you to top up in the event property prices drop but if it's island wide drop like in recession period, the banks will unlikely to do so cos this would be a domino effect on the economy in general and makes sentiment bad which in turn leads to other consequences.

 

That said, don't take this for granted. As many wise posters here have pointed out, better to plan for the worst scenario and not over-stretch with alot of assumptions.

 

There's a doomsday forumer in the other property thread saying blood bath will come etc. so if you do buy, show him your S & P agreement..................just joking

 

Good Luck and may you make a wise decision

[Jman888]

My opinion... just personal...

 

Rather than risk for the condo.

 

Jump into a 4 or 5 room resale...

 

Actually resale prices dropping... many are even below valuation nowadays.. but then depends on location bah.

 

1 additonal bedroom dun means u need jump into a condo mah.

 

400k for a 3 room bto. I presume its near city area liao.

 

4 or 5 rooms in similar area maybe from 600k onwards bah.

 

Condo for a 3 bedder over in similar location. Hmm.. easy 1.2k psf min

 

 

if $400K for a 3room BTO mean really close to town, resale 4-5 room will be easily $600K-$900K.

[Icedbs]

looks too funky leh.

 

machiam on a staying in a jenga block. anytime will topple. lol

 

Um....funky is one thing, but too many sharp corners pointing into every unit. And Chinese folks don't like that.

 

Furthermore, the shape of each block look like the wooden boxes for..........well, you know what I mean.

 

So from geomancy point, very hard.

[Kangadrool]

Yup, should avoid buildings with odd shapes and layout even if you are not affected by it.

 

I hate those buildings, some designed in such a way that it looked slanted to one side although it's fully upright. Technically it's sound, but living in it may have adverse psycological effects.

[Coltplussport]

That's my initial plan actually. With the absd it becomes 30 percent. Can't use cpf cos the min sum. So how

 

Yup we looking at a 1.2 m property

 

Have to give up bto if choose condo. Can only choose one

I didn't know bto 3 room at mature estate can be so expensive at $400k. But trust me, the rental derived from it next time will be real good. So if you want 2nd properties, you got to keep this one.

[Hydrocarbon]

I nvr aspire to live in condo unless i can afford to own condo.

 

I have been living in my HDB for the past 10 yrs & i have NO outstanding mortgage now. DEBT FREE!! Nothing beats that.

 

Quality of life is dependant on individual.

 

I aspire for a sprawling huge mansion with a pool and my own "den" with all the tech stuff I want.. Like Iron Man...

 

Still dreaming about it... =D

 

But on realistic note, I'm looking to BTO a small three room that isn't too expensive, so can pay off the loan in 10-15 years hopefully... I like my current debt free life...

[ShepherdPie]

Can dye black. Haha.

 

Btw, Singapore has margin calls? Meaning if valuation of property drops due to market forces do banks ask u to top up cash?

Bro. . consider the following :-

- if you planning for kids , kids education e.g. good school prixmity , childcare arrangement and car for early years convenience has to be taken into account.

- 1% interest increase on a 1 mil loan is more significant than on a 600k loan. so do expect more than 2k topup when interest rate increases.. my take.. use 3% ave as a guide and not the -1.3% u getting for the first 3 yrs.

- job security.

-1000sqf condo.. to have livable bed rms. . u need to custom your furniture. Just a guide, furnish a house will set u back 50k basic..

- condo maintenance. .$400 a mth after the first few yrs...housing loan insurance another $200 per mth. higher property tax , no gov angbao . All are $$ that adds up.

 

Like alot of ppl say.. buy 4-rm resale .. stay for 5 yrs, have kids and factor all the cost. . . If still can afford , sell and go for pte.

 

Just a guide , car with 2 children .. mortgage fully paid by cpf.. my monthly expense is 7k. .inclusive of enrichment for the children and maid.

 

If your mthly is 10k minus cpf contribution minus 2k mortgage cash.... you need yo consider eating bread everyday..

Edited December 2, 2014 by ShepherdPie

[Camrysfa]

err, why does a guy buy 3rm bto when he has the means to buy condo.

 

Should have taken a bigger bto in the first place?

[ShepherdPie]

err, why does a guy buy 3rm bto when he has the means to buy condo.

 

Should have taken a bigger bto in the first place?

bto depend on luck.. good location big units needs lots and lots of luck.. smaller unit just lucky can liao... ha ha ha. Edited December 2, 2014 by ShepherdPie

[Kangadrool]

5-room may be much easier to get than smaller unit. 4-room don't say lah, everyone is after it.

 

bto depend on luck.. good location bug units needs lots and lots of luck.. smaller unit just lucky can liao... ha ha ha.

 

Edited December 2, 2014 by Kangadrool

[ShepherdPie]

5-room may be much easier to get than smaller unit. 4-room don't say lah, everyone is after it.

 

 

Bro. .5 yrs back..4-rm tougher.. but recently...the bigger the better.. anyway...T'S is lucky to get a bto in mature estate

[Neutrino]

 

I have lived in HDB and condo.

 

I will live in a condo anytime.

 

IMO, if one can afford a condo, go for that and don't look back. You cannot buy back the time loss in better quality living.

 

So have I but I would rather live in HDB especially as the HDB we now live in was brand new when we moved and is super duper location for everything. Couldn't be better.

 

Used to use the Condo squash court but never the pool and nearest super market was a 15 minute drive.

Neighbours in Condo were mainly foreign and had no class even though it was a prime condo. Rubbish, dog poo and toddler and maid noise were all excessive.

 

Also lived in landed which I really liked but decided to downgrade now we are older.