Ash2017 Twincharged April 3, 2019 Share April 3, 2019 I am very puzzled where is there so much "noise" no rise on cost of living and even NTUC has to come and freeze 100 product prices. But you still loads of people queueing to buy properties. Where do these people get all the money to buy? Can't be all Rolex saleman right? ↡ Advertisement 8 Link to post Share on other sites More sharing options...
therock Supersonic April 3, 2019 Share April 3, 2019 The private vs HDB is both a practical and emotion debate.. Private estates, well, are supposed to afford the buyer some privacy, and whether it's PC or not, also afford you some separation from the masses, for those who feel they don't want to mingle with average Joe. There are also facilities, and these are supposed to be less crowded. Emotional? Well, the same reason Mercs, BMWs and even Lexus sells. The message is I've arrived. As one Toyota hater loves to put it: the HDB is much more value for money, cost less and gives you the same surface area and number of rooms/doors and toilets. So why do people buy these private units at twice or more? I think not everyone wants or is allowed to buy HDB... Having lived and looked into some units, the insides are nice, especially the modern ones, but the difference can be vast outside your own unit. Who you live next to, where the unit is sited, what is around it etc, is much less under your control. Nevertheless, each time I drive past this Tiong Bahru block, I regret not buying it :( Fabulous location, and great condition but at that time, I thought 500k was expensive... oh well... I am very puzzled where is there so much "noise" no rise on cost of living and even NTUC has to come and freeze 100 product prices. But you still loads of people queueing to buy properties. Where do these people get all the money to buy? Can't be all Rolex saleman right? Some folks earn enough, others feel they earn enough and can borrow the rest, others feel their parents earn enough to help them, and yet others have earned enough from past sales profits to get one. Cost of living? Well each time we ask for a pay rise, the cost of living goes up somehow too... 1 Link to post Share on other sites More sharing options...
Acemundo Supercharged April 3, 2019 Share April 3, 2019 The private vs HDB is both a practical and emotion debate.. Private estates, well, are supposed to afford the buyer some privacy, and whether it's PC or not, also afford you some separation from the masses, for those who feel they don't want to mingle with average Joe. There are also facilities, and these are supposed to be less crowded. Emotional? Well, the same reason Mercs, BMWs and even Lexus sells. The message is I've arrived. As one Toyota hater loves to put it: the HDB is much more value for money, cost less and gives you the same surface area and number of rooms/doors and toilets. So why do people buy these private units at twice or more? I think not everyone wants or is allowed to buy HDB... Having lived and looked into some units, the insides are nice, especially the modern ones, but the difference can be vast outside your own unit. Who you live next to, where the unit is sited, what is around it etc, is much less under your control. Nevertheless, each time I drive past this Tiong Bahru block, I regret not buying it :( Fabulous location, and great condition but at that time, I thought 500k was expensive... oh well... Some folks earn enough, others feel they earn enough and can borrow the rest, others feel their parents earn enough to help them, and yet others have earned enough from past sales profits to get one. Cost of living? Well each time we ask for a pay rise, the cost of living goes up somehow too... i remember sometime back in 2006 or what, when i accompany my brother to look at the different units of sale of balance bto flats on offer by hdb, one of the unit was beside a "tang ki" medium unit. surely no one wants to stay beside him or that for matter, the units on the immediate few floors above and below his unit. last time when i stayed in tampines hdb, my car also kena a full pack of chilli thrown down by a crazy hdb dweller. i have grown wiser to avoid the few lots in same vicinity that always kena this mad man's litter......but still these are the examples that shows, why some people prefers to live in private condo. 1 Link to post Share on other sites More sharing options...
Showster Twincharged April 3, 2019 Share April 3, 2019 Technically, everyone is entitled to buy resales HDB (upon a Singaporean / PR reaching 35 years old?). No income cap. That explains the million dollar units... Want or not, prefer or prefer not to, that is a different story. I think not everyone wants or is allowed to buy HDB... Link to post Share on other sites More sharing options...
Wt_know Supersonic April 3, 2019 Share April 3, 2019 (edited) yes! yes! yes! if one want to pay $10,000,000 for the HDB ... so be it! Edited April 3, 2019 by Wt_know Link to post Share on other sites More sharing options...
Enye Hypersonic April 3, 2019 Share April 3, 2019 wah...atas elites please don't buy hdbs all these estates are infested with ah beng peasants like me 1 Link to post Share on other sites More sharing options...
Showster Twincharged April 3, 2019 Share April 3, 2019 Then your advice is for people to go for private if they can afford? Thanks Shifu! wah...atas elites please don't buy hdbs all these estates are infested with ah beng peasants like me Link to post Share on other sites More sharing options...
Icedbs Turbocharged April 3, 2019 Share April 3, 2019 I am very puzzled where is there so much "noise" no rise on cost of living and even NTUC has to come and freeze 100 product prices. But you still loads of people queueing to buy properties. Where do these people get all the money to buy? Can't be all Rolex saleman right? 1) Enbloc money 2) Bank money 3) Parents money 4) Profit money. Most I have seen are from the above. 1 Link to post Share on other sites More sharing options...
Kusje Supersonic April 3, 2019 Share April 3, 2019 wah...atas elites please don't buy hdbs all these estates are infested with ah beng peasants like me Think of your children! Link to post Share on other sites More sharing options...
Enye Hypersonic April 3, 2019 Share April 3, 2019 Then your advice is for people to go for private if they can afford? Thanks Shifu! cannot afford also go for private don't end up whole life ah beng like me Think of your children! little ah bengs in the making... caught in the wrong end of the income divide Link to post Share on other sites More sharing options...
Showster Twincharged April 3, 2019 Share April 3, 2019 If cannot afford how to buy leh? Oxymoron mah? cannot afford also go for private don't end up whole life ah beng like me little ah bengs in the making... caught in the wrong end of the income divide Link to post Share on other sites More sharing options...
Kusje Supersonic April 3, 2019 Share April 3, 2019 cannot afford also go for private don't end up whole life ah beng like me little ah bengs in the making... caught in the wrong end of the income divide Just take max loan and max tenure. Buy ntuc house brand Cancel mobile line and use free WiFi. You can do it. Link to post Share on other sites More sharing options...
Mercury1 Turbocharged April 3, 2019 Share April 3, 2019 A good percentage take up leverage as well, I myself am surprise how many people just take 80% loans and stretch it out by 25/30 years. And those new launch just need to put a down payment which is small considering the the price of the property and walk away. I am very puzzled where is there so much "noise" no rise on cost of living and even NTUC has to come and freeze 100 product prices. But you still loads of people queueing to buy properties. Where do these people get all the money to buy? Can't be all Rolex saleman right? 2 Link to post Share on other sites More sharing options...
Kusje Supersonic April 3, 2019 Share April 3, 2019 A good percentage take up leverage as well, I myself am surprise how many people just take 80% loans and stretch it out by 25/30 years. And those new launch just need to put a down payment which is small considering the the price of the property and walk away. I think one of the reasons for our chronic over investment in property is because a significant portion of our earnings are stuck in cpf. Only way you can get value out of it right now is to buy property. 3 Link to post Share on other sites More sharing options...
RogerNg_185295 6th Gear April 3, 2019 Share April 3, 2019 If cannot afford, go for BTO instead of private. cannot afford also go for private don't end up whole life ah beng like me little ah bengs in the making... caught in the wrong end of the income divide 1 Link to post Share on other sites More sharing options...
Showster Twincharged April 3, 2019 Share April 3, 2019 (edited) Just take max loan and max tenure. Buy ntuc house brand Cancel mobile line and use free WiFi. You can do it. Not so easy to take loan now... DP 25%, the rest must clear TDSR. Can afford or cannot afford one will know immediately. Some can afford to buy but still cannot afford to live in it... yet. Edited April 3, 2019 by Showster 1 Link to post Share on other sites More sharing options...
Icedbs Turbocharged April 3, 2019 Share April 3, 2019 I think one of the reasons for our chronic over investment in property is because a significant portion of our earnings are stuck in cpf. Only way you can get value out of it right now is to buy property. Still I would suggest to make sure one do value analysis properly and never over pay. With the money in cpf, you still get 2.5% from government. If you overpay buying property, not only you may end up not making, but you still have to pay yourself back 2.5% interest. 4 Link to post Share on other sites More sharing options...
Wt_know Supersonic April 3, 2019 Share April 3, 2019 this is the part that not many people truly "understand" the meaning of using cpf to invest in hdb/property Still I would suggest to make sure one do value analysis properly and never over pay. With the money in cpf, you still get 2.5% from government. If you overpay buying property, not only you may end up not making, but you still have to pay yourself back 2.5% interest. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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