Yuan 6th Gear July 28, 2013 Share July 28, 2013 I'm in dilemma too! I've a HDB that's 7 mins away from Pasir Ris MRT, should I upgrade to that EC facing the sea or keep for future rental yield. Always wanted a better lifestyle upgrade for my family. If possible and if you work out the sums to the extent that it is affordable, get the EC as an additional unit instead of trading away your HDB. That would solve your problem. ↡ Advertisement Link to post Share on other sites More sharing options...
Hosaybo 6th Gear July 28, 2013 Share July 28, 2013 Ec will require owner to sell away their hdb within 6 months after top. Link to post Share on other sites More sharing options...
Voodooman Supersonic July 28, 2013 Share July 28, 2013 Don't listen to people telling you to buy private when you can buy EC unlesss you have a lot of savings (HDB fully paid with a few 100k lying around). With HH income of less than 12k a month, having both a HDB and private condo via high gearing can kill you in a prolonged downturn without those equity on hand. I don't understand people putting 200% of their "net worth" (150% is borrowed money) into property or any single class of investment asset at this point in time. If bao tan, there will be no poor people in this world. I would certainly buy a EC if I am eligible as the gap between private and EC has widened and EC will provide you with a loss cushion should market turn. It is a no brainer unless you are super bullish on property, it is your call. 1 Link to post Share on other sites More sharing options...
Yuan 6th Gear July 28, 2013 Share July 28, 2013 Ec will require owner to sell away their hdb within 6 months after top. Oops. I forgot about this. Link to post Share on other sites More sharing options...
Yuan 6th Gear July 28, 2013 Share July 28, 2013 (edited) Double posting. Edited July 28, 2013 by Yuan Link to post Share on other sites More sharing options...
Vinepro Clutched July 28, 2013 Share July 28, 2013 If possible and if you work out the sums to the extent that it is affordable, get the EC as an additional unit instead of trading away your HDB. That would solve your problem. Once buy an EC, I must let go of HDB. It will be harder to buy back a HDB once you have a private property. Maybe should just keep the HDB! Link to post Share on other sites More sharing options...
Passat57 3rd Gear July 28, 2013 Share July 28, 2013 Once buy an EC, I must let go of HDB. It will be harder to buy back a HDB once you have a private property. Maybe should just keep the HDB! Buy PC and keep the HDB. Link to post Share on other sites More sharing options...
Zze121 3rd Gear July 28, 2013 Share July 28, 2013 Keep yr HDB, save the money and go for holidays better. EC is still inferior to a private in the past, but lately PC is as lousy as an EC, it's just my 2 cents. Going into ppty need a lots of homework, hearsay is baseless n can be dangerous, its yr money not their's. Link to post Share on other sites More sharing options...
Solar Turbocharged July 28, 2013 Share July 28, 2013 Is ec any bigger than a standard hdb? Imo just keep it. Save the money for something bigger.. like a second property. Link to post Share on other sites More sharing options...
Zze121 3rd Gear July 28, 2013 Share July 28, 2013 Is ec any bigger than a standard hdb? Imo just keep it. Save the money for something bigger.. like a second property. Smaller, can go visit Ecopolitan at punggol, many times I over heard aunty beside at the showflat said this small that small. Link to post Share on other sites More sharing options...
Karoon Turbocharged July 28, 2013 Share July 28, 2013 in the past when people talk about upgrade, its all about size. these days no one talks about size anymore.... its all about $/psf, future appreciation, SD, etc seems lots of singaporeans are 2 dimensional, can live in a cupboard Link to post Share on other sites More sharing options...
Simpleonly 5th Gear July 28, 2013 Share July 28, 2013 Lifestyle could be base on the very fact that you have finish your loan on your hdb and have the extra money to spend without much worry. Not commit to another loan till your retirement age. Very agreed!! Stay so call high life but always on loan.. Then afraid if out of job how... Link to post Share on other sites More sharing options...
Jasonjst 3rd Gear July 28, 2013 Share July 28, 2013 Just get the unit you like. At the end of the day, the house is yours to enjoy and spend with yr loved ones. Distance to travel no issues lah...Singapore how far only....one end to the other is only 45km.... Wah Lau , 45KM ? Might as well travel to Iskandar 30KM only since he work in the West . Price for EC get get a bunglow liao . Somemore will have traffic jam from Eunos all the way to Tuas , every morning . Link to post Share on other sites More sharing options...
Kusje Supersonic July 28, 2013 Share July 28, 2013 Is ec any bigger than a standard hdb? Imo just keep it. Save the money for something bigger.. like a second property. about 700 to 800 psf. Up to 2000 sf in size if you can afford it. Link to post Share on other sites More sharing options...
Turret Clutched July 28, 2013 Share July 28, 2013 btw the EC i am talking about is Sea Horizon, the pictures from the website very siu ... http://www.newproperty.sg/seahorizon http://www.newproperty.sg/seahorizon#locationmap If from East to West ... time, traffic and higher petrol cost ... headache ... Unless ur company provides u with petrol card... but additional time for traveling is unavoidable then.. Link to post Share on other sites More sharing options...
Felipe 3rd Gear July 28, 2013 Share July 28, 2013 Bro, Honestly speaking, if you can afford an EC. I would suggest you get a condo better since prices between a private condo and EC are so close nowadays. With regards to appealing to HDB for early termination of MOP, I would say the success rate is not high based on my past experiences. But of course, there's no harm trying. Please do not commit anything before you gotten approval from HDB. Let me share my knowledge with you on the differences between EC n Condo: 1) EC falls under the MOP ruling and MOP starts only from the day you gotten your keys and moved in. Assuming MOP is 5yrs plus construction of EC is 3yrs, after 8yrs from now then you can sell your EC and only to SCs & PRs. Anytime within that 8yrs, no way you can sell your unit to anyone. Privatisation usually happens on the 10th yr mark of ownership which means you can now sell to foreigners as well but effectively is 13yrs from now. ECs' prices generally rise slower than private condos during the initial 10yrs of ownership due to the many rules n regulations governing it but of course location plays an impt part as well. 2) Condo doesn't have any MOP ruling but subjected to the current Seller Stamp Duty Scheme (SSD). Basically its a measure to stabilise the property mkt and prevent property investors from selling their units in short time frame after purchase. Sale of your condo within 1st yr of ownership will result in a SSD of 16% based on your selling price, 2nd yr 12%, 3rd yr 8%, 4th yr 4% and 5th yr FREE from all stamp duties. But the good thing is the clock starts clicking immediately after you go down to the law firm to pay up the remaining 15% downpayment, assuming 5% booking fee for your dream unit and 80% housing loan. After 3yrs of construction, you just need to stay in for another 1yr to enjoy all the facilities or even tenant it out and you will be ready to sell your unit anytime when the mkt is right for you. ECs are mainly for sandwiched classes, people who exceeded the income ceiling for BTOs but can't afford Condos. Ultimately, everything boils down to your affordability. Hope what I have said helps. CHEERS! condo no sea view at tat price. Link to post Share on other sites More sharing options...
Xefera 6th Gear July 28, 2013 Share July 28, 2013 you are referring to shoe box size units and i doubt the new HDB ruling will allow that kind of floor area deem as not suitable for nuclea family size. average is between 900 to 1100, similar to HDB 4 and 5 rm flat size Link to post Share on other sites More sharing options...
Felipe 3rd Gear July 28, 2013 Share July 28, 2013 Wah Lau , 45KM ? Might as well travel to Iskandar 30KM only since he work in the West . Price for EC get get a bunglow liao . Somemore will have traffic jam from Eunos all the way to Tuas , every morning . makes sense ...plus half price petrol! iskandar got seaview too! ↡ Advertisement Link to post Share on other sites More sharing options...
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