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Is it a good time to buy a landed property to stay now?


Milgram
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I come across this thread and some of the discussions bring back memories for me. Let me tell you my story...

 

I missed the early 2001 to 2007 uptrend because I was like most of you thinking whether the uptrend is real, will the market crash, will i lose my job and whether  i can afford and did the most dumb thing..pay  up my HDB property.  When the market went down in 2009. I told myself, this is probably the only chance in my life to upgrade. I went on search for landed and determined to buy, settle on my sixth house visit after two weekends. So I did the SAF - Sign and Forget. The rest is history...You realised  the time I bought my landed is the same the thread started in 2008. If I would comparing prices, I would be thinking why I paying the terrace for the same price of semi-D in 2004. 

 

If I were not to do what I did in 2009, I will still be the same until today, analyzing the market..regretting why I never do it...

 

The funny thing I realised when making big investment is not to consult too many people because you don't make money from herd thinking. The herd will tell you where the most will do but unfortunately if they are right, there will be only mostly rich people in the world!!  

 

 

may i ask if you are a property agent by profession?

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I have many friends who bought landed during those period.

 

Sitting on gold mine especially if the lease is long. Indeed!

 

But hard / long to take out the gold in the gold mine, that's why I still staying put with strata properties.

 

He did not even advertise, why you think he agent? Unless he personal comms you...

 

 

 

may i ask if you are a property agent by profession?

 

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may i ask if you are a property agent by profession?

 

Nope. Far from it.  I am just your regular IT guy.  I just jumped in trying to relate my experience after seeing so many comments which is like going through same thought process myself before I purchased my property.  

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I come across this thread and some of the discussions bring back memories for me. Let me tell you my story...

 

I missed the early 2001 to 2007 uptrend because I was like most of you thinking whether the uptrend is real, will the market crash, will i lose my job and whether i can afford and did the most dumb thing..pay up my HDB property. When the market went down in 2009. I told myself, this is probably the only chance in my life to upgrade. I went on search for landed and determined to buy, settle on my sixth house visit after two weekends. So I did the SAF - Sign and Forget. The rest is history...You realised the time I bought my landed is the same the thread started in 2008. If I would comparing prices, I would be thinking why I paying the terrace for the same price of semi-D in 2004.

 

If I were not to do what I did in 2009, I will still be the same until today, analyzing the market..regretting why I never do it...

 

The funny thing I realised when making big investment is not to consult too many people because you don't make money from herd thinking. The herd will tell you where the most will do but unfortunately if they are right, there will be only mostly rich people in the world!!

Oh, another lucky guy who happen to roll with the good times.

 

Buy a few more lah, especially in 2013, 2014, 2015.

 

You wont be lucky all the time so guard your pot with all your life.

 

 

 

Oh, only 2 posts? Hhhmmmmmm, as genuine as it can get.....

Edited by Throttle2
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Nope. Far from it. I am just your regular IT guy. I just jumped in trying to relate my experience after seeing so many comments which is like going through same thought process myself before I purchased my property.

Sure sure.....

 

By the way how much you bought , how big, and where?

 

Huat ah

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Oh, another lucky guy who happen to roll with the good times.

 

Buy a few more lah, especially in 2013, 2014, 2015.

 

You wont be lucky all the time so guard your pot with all your life.

 

 

 

Oh, only 2 posts? Hhhmmmmmm, as genuine as it can get.....ð¤£

I don’t think it’s fair to judge whether the case is true.

 

And many agents indeed also benefit from all kinds of private housing, especially in the past when income criteria was not so stringent.

 

I will take whatever is posted at face value, including those who claim to sell at the peak in 2013, and discuss based on that. But it’s hard to trust the validity of the discussion when the person switches position of status all the time. For that person, the misrepresentation is much more serious and misleading.

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Turbocharged

I have many friends who bought landed during those period.

 

Sitting on gold mine especially if the lease is long. Indeed!

 

But hard / long to take out the gold in the gold mine, that's why I still staying put with strata properties.

 

He did not even advertise, why you think he agent? Unless he personal comms you...

Am I one of your those friends?

 

Actually in 2009 is very different from 2018 or 2016 2015.

 

I also bought landed in 2009 but I am not encouraging people to buy now leh... for the simple reason, I won’t buy now...

 

I have paid off quite a bit of my mortgage and during refinancing discussion, the bank ask me if I want to cash out and take a bigger loan cuz the valuation is much higher now.

 

I look at the interest rate, look at the rental yield, no matter how I look at it, the numbers don’t work out especially for a freehold property, the rental yield is close to 2% after deducting costs... not even enough to cover interest.

 

I might as well buy Singapore savings bond....

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Am I one of your those friends?

 

Actually in 2009 is very different from 2018 or 2016 2015.

 

I also bought landed in 2009 but I am not encouraging people to buy now leh... for the simple reason, I wonât buy now...

 

I have paid off quite a bit of my mortgage and during refinancing discussion, the bank ask me if I want to cash out and take a bigger loan cuz the valuation is much higher now.

 

I look at the interest rate, look at the rental yield, no matter how I look at it, the numbers donât work out especially for a freehold property, the rental yield is close to 2% after deducting costs... not even enough to cover interest.

 

I might as well buy Singapore savings bond....

EC and landed you both have, and still want to buy more?

 

Hehe bro, give others a chance lah.

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Turbocharged

EC and landed you both have, and still want to buy more?

 

Hehe bro, give others a chance lah.

I sold of my ec to buy landed in 2009 for own stay.

 

Actually, landed has Super poor yield so most people buy for own stay I Guess. If buying for own stay and you take a big loan, it is really not financially prudent. Honestly I am just Glad that the past 10 years of Low interest rates has made paying of the loan pretty painless.

 

Of course on hindsight, if I have kept the ec, it will probably make some money, but not a lot though. I take the middle path... I don’t bet heavily on one side.

 

Although I hope the prices fall now, I am still vested in a decent property which I am ok to spend the rest of my life in. Life is short, and I spend a lot of time at home, why squeeze into a 800sqft apartment?

 

Why worry if an interest rate spike will destroy my finances? To me interest rates spike to 4%, I am still ok. If it stays at 2%, no harm to me too. Of course I don’t make big if I Guess right but it is enough for me.

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Oh, another lucky guy who happen to roll with the good times.

 

Buy a few more lah, especially in 2013, 2014, 2015.

 

You wont be lucky all the time so guard your pot with all your life.

 

 

 

Oh, only 2 posts? Hhhmmmmmm, as genuine as it can get.....

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I sold of my ec to buy landed in 2009 for own stay.

 

Actually, landed has Super poor yield so most people buy for own stay I Guess. If buying for own stay and you take a big loan, it is really not financially prudent. Honestly I am just Glad that the past 10 years of Low interest rates has made paying of the loan pretty painless.

 

Of course on hindsight, if I have kept the ec, it will probably make some money, but not a lot though. I take the middle path... I don’t bet heavily on one side.

 

Although I hope the prices fall now, I am still vested in a decent property which I am ok to spend the rest of my life in. Life is short, and I spend a lot of time at home, why squeeze into a 800sqft apartment?

 

Why worry if an interest rate spike will destroy my finances? To me interest rates spike to 4%, I am still ok. If it stays at 2%, no harm to me too. Of course I don’t make big if I Guess right but it is enough for me.

 

It is universal for landed to have super low rental yield whether it is in Sg or neighbouring countries. Hence, it never make sense to buy landed for rental unless you are super rich to stay vested in landed properties for its potential capital appreciation in the future.

 

I am staying at my landed and never think it is a form of investment as I will continue to live in it in my retirement days. I am thankful that I am able to purchase it at an affordable price and to retire comfortably without being lopsided asset rich, cash poor.

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Luck..does play a role but it takes guts to execute. Without guts, every opportunity can drop on your lap and you still take no action.

 

Why not 2013, 2014....no money..of course...

 

Anyway I paid up my landed and only recently manage to buy another investment unit last year because of TDSR.

 

Everyone has to start posting somewhere. Have to give newbie a chance. Just sharing my experience on a discussion thread that interest me.

Ignorance, greed and a dash of stupidity and luck is very very often mistaken for guts too

 

You joined a car forum and the first and only thing you post in is “property”?

 

Edited by Throttle2
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Landed property is basically only open to Singaporeans

It is our birthright.

So if you are Singaporean, please buy landed, at least one if you can.

 

Good luck

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Ignorance, greed and a dash of stupidity and luck is very very often mistaken for guts too

 

You joined a car forum and the first and only thing you post in is âpropertyâ?

ðð

 

Ok lor......

are you speaking of yourself

 

aren'r you counting on the few ignorance greed and a dash of stupidity when you try to sell lolex here

 

you ask another forummer why join a car forum and post in property

 

how about you just how often do you post on a car thread and how often you post on others e.g. watches

 

 

nothing personal

 

please don't butter others up for your gain

 

don't come and boost your ego from others by flaunting your wealth among the poor

 

 

I live long enough to see many things and speak my mind just like you

 

 

in any case this is just a tcss forum but more importantly don't cause others to suffer

 

I am writing this because there are some who are not as strong willed like you

Edited by Ash2017
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in term of timing , anytime is a good time to buy as long as it is not at the peak of the cycle

applicable for landed, condo, hdb

 

in term of location, there are gems in ccr, rcr, ocr, there are also rubbish in ccr, rcr, ocr

depend on your own investment judgement, doesnt mean ccr sure earn

look out for convenience eg near mrt, near supermarket, near shopping mall, near recreational facilities, near parks, near nature, near expressways, near good schools, near hotels, near banks, near post office, near cinemas, near library, that should suffice

and try not to buy units that face main roads with cars motorbikes and buses roaring, or fighter planes flying above

in term of facing, dont buy facing direct west sun or you will stay in oven for 360days a year

applicable for landed, condo, hdb

 

in terms of financing , first property only need 25% downpayment , 2nd and subsequent is 55% , which also require 12% and above absd

and take note of your tdsr, is your monthly fixed income able to support the loan quantum?

an in-principle loan approval from the bank officer will answer all these financing queries

 

 

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