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

[Jamesc]

Yes it's a good time.

 

If you are buying one then please help buy one for me too.

 

Thanks very much.

 

 

Let me share a Feng Shui tip on buying property.

 

If there is drizzle and sunshine when you view then that's the one to buy.

 

[SuPerBoRed]

SA is enough for retirement? For your so called middle income couple, how much will they have in their SA after 30 years working?

 

Enough for retirement?

 

for 30yrs if you cap off the 6k.... its abt 280-300k.. in SA alone (esp once medisave hits cap)... 

 

thats without factoring in bonuses...  30year bonuses....   

 

from what i hear 6k is below middle income ..... 

[Sdf4786k]

for 30yrs if you cap off the 6k.... its abt 280-300k.. in SA alone (esp once medisave hits cap)... 

 

thats without factoring in bonuses...  30year bonuses....   

 

from what i hear 6k is below middle income ..... 

 

I thot 500K is only considered average income in the new measurement of middle income

[D_bergkam]

How would you price a 999-yr landed property that was rebuilt 10 years ago?

Current Land Price + [built Up Area x Construction Cost of $300psf x Discount Factor]?

 

 

[Mcscot]

How would you price a 999-yr landed property that was rebuilt 10 years ago?

 

Current Land Price + [built Up Area x Construction Cost of $300psf x Discount Factor]?

 

Bro ... to be honest ... it really depends if your're the buyer or the seller as both look at the price from different perspectives.

 

If you're the seller, where is the discount factor? You will want the max selling price for your property and thus quote to the buyer that you've spent $K on your reno.

 

If you're the buyer, the situation is very different. Firstly, I really don't care if you (as the seller) have spent $XK  on your reno as it may not suit my taste. Secondly, it has already been 10 years - did you change relay your electrical wiring system (usually lasts 20-25 years - I think!). When you rebuilt the house, the type of (for e.g.) sanitary wares, kitchen you have used for the house may not be of an acceptable standard to you etc etc.

 

At the end of the day, IMHO ... you should pay what you think is reasonable for the land / house structure and also consider how much you need to reno in the house you are potentially buying. If this is your dream house, you will pay over the odds. If it is a 50/50, offer something you think is reasonable and if the seller doesn't bite - walk away. If the house is in a dilapidated state - low ball the seller cos no one else will buy. In this current climate, it is about to turn into a buyer's market (I think). 

 

I am no guru but I have gone through the same process over the last 18 months ... previous owner stayed in for about 10 years did some reno not to my taste but agent told me spent $500K in reno etc etc. I gutted the house rewired, replumbed (house pipes approx 20 years) and repositioned the rooms etc etc.

 

And now I am about to move in but very very broke! Hahaha!

Edited January 4, 2019 by Mcscot

[D_bergkam]

Bro ... to be honest ... it really depends if your're the buyer or the seller as both look at the price from different perspectives.

 

If you're the seller, where is the discount factor? You will want the max selling price for your property and thus quote to the buyer that you've spent $K on your reno.

 

If you're the buyer, the situation is very different. Firstly, I really don't care if you (as the seller) have spent $XK  on your reno as it may not suit my taste. Secondly, it has already been 10 years - did you change relay your electrical wiring system (usually lasts 20-25 years - I think!). When you rebuilt the house, the type of (for e.g.) sanitary wares, kitchen you have used for the house may not be of an acceptable standard to you etc etc.

 

At the end of the day, IMHO ... you should pay what you think is reasonable for the land / house structure and also consider how much you need to reno in the house you are potentially buying. If this is your dream house, you will pay over the odds. If it is a 50/50, offer something you think is reasonable and if the seller doesn't bite - walk away. If the house is in a dilapidated state - low ball the seller cos no one else will buy. In this current climate, it is about to turn into a buyer's market (I think). 

 

I am no guru but I have gone through the same process over the last 18 months ... previous owner stayed in for about 10 years did some reno not to my taste but agent told me spent $500K in reno etc etc. I gutted the house rewired, replumbed (house pipes approx 20 years) and repositioned the rooms etc etc.

 

And now I am about to move in but very very broke! Hahaha!

 

Bro, can share why was there a need to replumbed?

House pipes deteriorated? 

[Throttle2]

Bro ... to be honest ... it really depends if your're the buyer or the seller as both look at the price from different perspectives.

 

If you're the seller, where is the discount factor? You will want the max selling price for your property and thus quote to the buyer that you've spent $K on your reno.

 

If you're the buyer, the situation is very different. Firstly, I really don't care if you (as the seller) have spent $XK on your reno as it may not suit my taste. Secondly, it has already been 10 years - did you change relay your electrical wiring system (usually lasts 20-25 years - I think!). When you rebuilt the house, the type of (for e.g.) sanitary wares, kitchen you have used for the house may not be of an acceptable standard to you etc etc.

 

At the end of the day, IMHO ... you should pay what you think is reasonable for the land / house structure and also consider how much you need to reno in the house you are potentially buying. If this is your dream house, you will pay over the odds. If it is a 50/50, offer something you think is reasonable and if the seller doesn't bite - walk away. If the house is in a dilapidated state - low ball the seller cos no one else will buy. In this current climate, it is about to turn into a buyer's market (I think).

 

I am no guru but I have gone through the same process over the last 18 months ... previous owner stayed in for about 10 years did some reno not to my taste but agent told me spent $500K in reno etc etc. I gutted the house rewired, replumbed (house pipes approx 20 years) and repositioned the rooms etc etc.

 

And now I am about to move in but very very broke! Hahaha!

 

Congrats huarah!

[Mcscot]

Bro, can share why was there a need to replumbed?

House pipes deteriorated? 

 

The house was actually 20+ years old and some of the pipes were leaking. Looking at the current climate ... I think this will be one and only house purchase cos I don't think I can afford anything else in future considering the ABSD + BSD approx 15-20%. Therefore, I am here for the long-term and I really do not want extensive reno in the next 10 years and I really do not want to go looking for the leak. To give myself peace of mind, I decided to replumb since I was going to reposition rooms, add a new toilet etc.

[Wind30]

My Reno done almost 10 years ago. Contractor said will changing pipe but I think they did not.

 

I changed the roof tiles too.

 

The only big issue I had was the drainage from my downstairs toilet which need mister muscle every other time. This was due to the fact that we blocked an water trap to make a bigger room downstairs

 

 

 

Edited January 7, 2019 by Wind30

[Ysc3]

just went to an ex-neighbor's house warming on Sunday …

 

when we were next door neighbors, we were staying in 5 room and they were staying in 4 room HDB flat.

 

but when their business failed, they sold the 4rm and moved to a smaller unit in ghim moh.

 

then from there, they moved up to a condo in Tanah Merah, then back to a 5 room flat in Tampines, then upgraded to a 99year lease semi d in paya lebar.

 

last week, they had their latest house warming in their 3 storey freehold terrace in upper thomsom !!

 

…. and 20 years later, we are still in our 5 rm HDB flat ...

[Kklim]

just went to an ex-neighbor's house warming on Sunday …

 

when we were next door neighbors, we were staying in 5 room and they were staying in 4 room HDB flat.

 

but when their business failed, they sold the 4rm and moved to a smaller unit in ghim moh.

 

then from there, they moved up to a condo in Tanah Merah, then back to a 5 room flat in Tampines, then upgraded to a 99year lease semi d in paya lebar.

 

last week, they had their latest house warming in their 3 storey freehold terrace in upper thomsom !!

 

…. and 20 years later, we are still in our 5 rm HDB flat ...

 

Nothing wrong with that. You probably have more for retirement than he does :)

[Ysc3]

Nothing wrong with that. You probably have more for retirement than he does :)

right ...there is nothing wrong with where we stay as long as we are happy

 

just that they were more daring and upgrading their houses as and when the opportunity arises.

 

my ex-boss was also like that …. from 2 room flat in ghim moh up to a semi-d in jalan angina laut.

[Wind30]

right ...there is nothing wrong with where we stay as long as we are happy

 

just that they were more daring and upgrading their houses as and when the opportunity arises.

 

my ex-boss was also like that …. from 2 room flat in ghim moh up to a semi-d in jalan angina laut.

Happy is one thing, investment is also impt. If u know how to invest in other stuff, then I Guess it is ok.

 

I don’t buy stocks so paying off property loans with the excess money is useful.

 

Else money just disappear ...

Edited January 7, 2019 by Wind30

[Jamesc]

My folks thinking about purchasing a landed (F/H) property now (to stay). It's about 980K. Land size 1300 sqft, built up about 1500 sqft. Is it wise for them to get it now? Is the price okay?

 

Thanks. https://www.mycarforum.com/public/style_emoticons/#EMO_DIR#/gossip.gif

Today 980k can only get a 1+1 99 year leasehold new condo.

 

just went to an ex-neighbor's house warming on Sunday â¦

 

when we were next door neighbors, we were staying in 5 room and they were staying in 4 room HDB flat.

 

but when their business failed, they sold the 4rm and moved to a smaller unit in ghim moh.

 

then from there, they moved up to a condo in Tanah Merah, then back to a 5 room flat in Tampines, then upgraded to a 99year lease semi d in paya lebar.

 

last week, they had their latest house warming in their 3 storey freehold terrace in upper thomsom !!

 

â¦. and 20 years later, we are still in our 5 rm HDB flat ...

He is a pastor in one of those money church?

 

[Showster]

Opportunities everywhere.

 

Just need to know your target and be disciplined in sticking to it.

My Reno done almost 10 years ago. Contractor said will changing pipe but I think they did not.

 

I changed the roof tiles too.

 

The only big issue I had was the drainage from my downstairs toilet which need mister muscle every other time. This was due to the fact that we blocked an water trap to make a bigger room downstairs

 

 

 

85A9E7CC-752D-4B0F-BB11-9EB131ED8CD4.jpeg

Very nice!

[Throttle2]

just went to an ex-neighbor's house warming on Sunday …

 

when we were next door neighbors, we were staying in 5 room and they were staying in 4 room HDB flat.

 

but when their business failed, they sold the 4rm and moved to a smaller unit in ghim moh.

 

then from there, they moved up to a condo in Tanah Merah, then back to a 5 room flat in Tampines, then upgraded to a 99year lease semi d in paya lebar.

 

last week, they had their latest house warming in their 3 storey freehold terrace in upper thomsom !!

 

…. and 20 years later, we are still in our 5 rm HDB flat ...

In everything there is a tradeoff,

You wont know what people go through.

And dont compare with others.

The real race is only and always against oneself

[Throttle2]

My Reno done almost 10 years ago. Contractor said will changing pipe but I think they did not.

 

I changed the roof tiles too.

 

The only big issue I had was the drainage from my downstairs toilet which need mister muscle every other time. This was due to the fact that we blocked an water trap to make a bigger room downstairs

 

 

 

85A9E7CC-752D-4B0F-BB11-9EB131ED8CD4.jpeg

Wah, such a big house!

Double volume living area.

 

 

[Ysc3]

Today 980k can only get a 1+1 99 year leasehold new condo.

 

He is a pastor in one of those money church?

 

He's a construction contractor ...heheh...