Need advises on buying flat and investing.

[Ec_2008]

I assume you and your wife were married for some time but why is she only got her PR 2 years ago.

 

you trust her enough to invest in property in her hometown.

how you know they are young?

We are married for 4 years.

Yes, I trusted her. I have this mentality of 用人不疑，疑人不用。

Well first Hainan is a province. And Sanya and Haikou are most likely out of your budget.

 

That leads to the second issue. Who are you going to rent to? Single professionals renting flats only exist in big cities. In small cities they are mostly local and stay with parents or have bought their own homes. Not everywhere is like Singapore that you can find herds of foreign tenants.

 

The last issue is returns. We rented a 3 bedder at prime location at Haikou for $500 a months. That flat was also advertised for sale at about $400k. The return is tmd low..

We are looking at haikou.

[Jman888]

for hainan island must ask @Picnic06-Biante15 this hainan gor

[Ec_2008]

You should do Option 3 then maybe you have cash for Option 1.

 

The facilities and amenities are for the kid(s) if you intend to have any.

I was looking around in Google Map, like not many primary school in that area.

 

My simple theory is

4 room have 3 bedrooms

5 room also have 3 bedrooms.

A flat is a place to stay and Zzz'ing is a large part of the time.

The cost of the area occupied by Zzz'ing is in direct relation to the cost of the flat or place to stay.

Of course everyone is free to decide how much the Zzz'ing area will cost.

Yes, I agreed with what u said. We submit our application to try our luck. And we are lucky enough to have a chance to select a flat. We like the location very much as it is next to Bedok mall and just opposite mrt. This is for capital gains as we may consider selling it after 5 years.

 

We are thinking of option 3 than option 1 also. But that new flat location is too good to give up. That's why I posted here and ask for some advises.

[Ec_2008]

for hainan island must ask @Picnic06-Biante15 this hainan gor

My wife had said that her hometown haikou have tremendous opportunity for growth.

 

I went there two months ago and indeed it was quite a good place to work and live in with good opportunity.

 

Haikou is the most develop cities for the whole Hainan island which is about 50 times the size of sg. Good infrastructure, good medical facilities etc.

[Kusje]

Another option for you.

 

1. Rent out your HDB

2. Buy a place in Hainan to stay

[Cllee]

Option 2,

 

In future if you can afford a private property, you can easily rent out the HDB unit at good location

to finance your housing loan need.

[Wondertree]

My wife had said that her hometown haikou have tremendous opportunity for growth.

 

I went there two months ago and indeed it was quite a good place to work and live in with good opportunity.

 

Haikou is the most develop cities for the whole Hainan island which is about 50 times the size of sg. Good infrastructure, good medical facilities etc.

Haikou property has gone through cycles of bubble and crash. Very rollercoaster. Its good for speculator, bad for investor.

 

We stayed there for a few months to decide and in the end threw our money elsewhere.

[Enye]

$ go into china very easy

 

want to come out of china legally not easy

 

unless of course the intention is never for it to come out in the first place

 

spend all the earnings/returns there

 

 

[Throttle2]

Hi all,

 

Needed some advices as me and my wife couldn't decide which way to go.

I shall tell my story in point form.

 

1. Currently living in a 5 room flat in woodlands.

2. Bank loan left 8 years to clear about $52K.

3. Applied for a 4 room BTO flat and was lucky enough to have slected a flat next

to Bedok Mall and opposite Bedok MRT.

4. We had paid the the $2k option fee.

5. Pending to pay $52k(10% downpayment) + $15k(3% stamp fee). These 13% going to cost

us about $67K.

6. We have $50k cash on hand. Another $15k from my wife CPF.

7. Wife just became PR 2 years ago. Therefore her CPF OA was little.

8. My CPF OA was used to service the bank loan of our current flat.

9. The amount was just enough to service the monthly loan.

10. New BTO flat in Bedok TOP 2021.

11. Selling our current Woodlands flat in 2021 need to pay HDB $50k levy.

12. Expected bank loan left around $30k in 2021.

13. I am using a safe amount to calculate. Let's say we only managed to sell our

Woodlands flat for $400k in 2021. Minus levy and leftover bank loan.

we can get back $320k from our Woodlands flat.

14. I knew out of the $320k that i get back. About half need to goes back to my

CPF OA. But these money that went back to CPF OA will be used to pay for our

New Bedok flat in 2021.

15. New flat left $470k after the downpayment. HDB able to grant us about $150k loan.

16. Therefore we have no problem for the new flat. We only need to save another

$50k - $70k to renovate our new flat in 2021.

 

Option 1

 

1. Thinking of investing our $50k cash on hand on oversea property. Wife is from china

Hainan Dao.

2. We are thinking of buying a small condo unit about 40 square meter that cost about

400k - 500k RMB.

3. Why small unit? We only have $50k SGD on hand. Plus small unit

maybe easier to rent out to single professional.

4. Downpayment needed about 30%. Therefore downpayment for an average 40 square meter

condo unit about 120k - 150k RMB which is about $24k - $30k SGD.

 

Option 2

 

1. Shall we go ahead with the Bedok BTO flat? (We like the location very much as it

is next to Bedok Mall and opposite Bedok MRT). Capital gain from the new flat will

be much better as compare to other flat that is not near to mall and mrt.

 

 

OPtion 3

 

1. Apply for another 4 room BTO in other location which cost around 280K. I believe

after selling our current 5 room flat in Woodlands. We should have enough cash for

other investment.

 

Hope that the expert here will give us some advises. Thanks in advance!

 

You didnt share what you work as and what your monthly income is.

And mostly importantly, what are truly your objectives?

Returns in the form of profits or in the form of improved lifestyle?

Finally, are you ready to lose it all and start all over again?

[Ec_2008]

Another option for you.

 

1. Rent out your HDB

2. Buy a place in Hainan to stay

Renting out the whole unit without the owner living in it must get approval from HDB and it's very difficult to be approved. I don't wish to go by the left way and end up in trouble.

Haikou property has gone through cycles of bubble and crash. Very rollercoaster. Its good for speculator, bad for investor.

 

We stayed there for a few months to decide and in the end threw our money elsewhere.

Ok, thanks for advice. Seems like quite a lot of guys recommended me to go for option 2. I shall kiv about buying a property in Haikou for the time being.

[Ec_2008]

You didnt share what you work as and what your monthly income is.

And mostly importantly, what are truly your objectives?

Returns in the form of profits or in the form of improved lifestyle?

Finally, are you ready to lose it all and start all over again?

I work as a technician. We had a combined salary of $5500 after cpf per month.

 

My main objective is to ask for advises about option 1, 2 or 3.

 

I believed most people whom invested in property want to earn passive income to buy another property and another and another........

 

Invest in property won't lose all of my capital. It will have some value even when the property bubbles burst or financial crisis. The most we will hold on to it and wait patiently for the cycle to be up again.

[Throttle2]

I work as a technician. We had a combined salary of $5500 after cpf per month.

 

My main objective is to ask for advises about option 1, 2 or 3.

 

I believed most people whom invested in property want to earn passive income to buy another property and another and another........

 

Invest in property won't lose all of my capital. It will have some value even when the property bubbles burst or financial crisis. The most we will hold on to it and wait patiently for the cycle to be up again.

Hhhmmmm, ok ok.

Yup you are right.

Pao jiak one.

[Picnic06-Biante15]

My wife had said that her hometown haikou have tremendous opportunity for growth.

 

I went there two months ago and indeed it was quite a good place to work and live in with good opportunity.

 

Haikou is the most develop cities for the whole Hainan island which is about 50 times the size of sg. Good infrastructure, good medical facilities etc.

 

Haikou is almost like SG. The properties there in Haikou & Sanya about 60% more than any other provinces.

 

For your case, you are buying it since your wife is from Hainan Island. But to think of it, your that property would become a 'White' elephant unless you intended to migrate there to stay.  

 

Not trying to scare you but if you buy a property there and rented it out, who to collect the rent for you ? I belief it will be your wife family members. I have a few friends who just the same situation as you, brought houses there and in the end, instead of renting it out, Their in-laws stays there. Since it's your wife family, do you still wants to chase them out and risk having dispute with your wife ? 

 

There are so many horrid stories of properties invested taken over by relatives who refuse to shift out. You can't do anything and fighting a case to get your property back took years unless you know some 'big shot' of which, you have to spend under-table $$$$.

 

Think twice when investing oversea property unless you going to work there for years or retire there.

 

Keep that $50k for rainy days and it will become very handy when in need.

 

Reading your initial thread, you barely can get through after selling your current flat for a new BTO one. Wait until you have cash to spare, then you can look into investing oversea properties.

 

Just my thoughts and to invest or not still your final says ....            

Edited July 20, 2017 by Picnic06-Biante15

[UncleAtas]

Buy sell Buy sell, not tired meh? How come 5rm in wdls only 400k?

[Kusje]

Renting out the whole unit without the owner living in it must get approval from HDB and it's very difficult to be approved. I don't wish to go by the left way and end up in trouble.

 

 

Who told you it is difficult to get approved? Have you lived there for 5 years already?

 

The approval is just a formality.

Buy sell Buy sell, not tired meh? How come 5rm in wdls only 400k?

 

Cuz woodlands is a shit place lor.

[RadX]

Who told you it is difficult to get approved? Have you lived there for 5 years already?

 

The approval is just a formality.

 

Cuz woodlands is a shit place lor.

 

 

no wonder you sho moody 24/7

[Enye]

you all elite private property owners may not know but...

 

barring those few million dollar hdbs, hdb prices in general now easily 20% down from the peak a few years ago

 

my neighbour just put their flat on the market. i see asking price... shake head

 

 

[Jman888]

you all elite private property owners may not know but...

 

barring those few million dollar hdbs, hdb prices in general now easily 20% down from the peak a few years ago

 

my neighbour just put their flat on the market. i see asking price... shake head

 

ð¢

unbelievable high or low?

 

with so many bto coming up, even in matured estate, price also drop around 20%.