Opinions about upgrading

[Wt_know]

1 hour ago, Beregond said:

can buy condo still take mrt meh😎

that's what i heard for people pay $2M for Bishan Sky Habitat ... when OCR condo first time break $2M

when kena interviewed by Ch8 ... owner sibei happy said ... $2M sibei worth it ... next to MRT

everyday kena sardined in Bishan MRT to go work ... muahahaha

i think deep down she want to say planning to sell at $3M  

Edited March 6, 2021 by Wt_know

[Icedbs]

1 hour ago, Wt_know said:

that's what i heard for people pay $2M for Bishan Sky Habitat ... when OCR condo first time break $2M

when kena interviewed by Ch8 ... owner sibei happy said ... $2M sibei worth it ... next to MRT

everyday kena sardined in Bishan MRT to go work ... muahahaha

i think deep down she want to say planning to sell at $3M  

When comes to new launches, buyers have to be very careful about the asking prices.  Unlike resale, the prices are determine by the developer, not the market.

To date, I have not seen anyone  who could show a structured data analysis showing value for new launches.  Or tell me exactly how much premium am I paying above market, and not above their break even. Honestly, I am not bothered about the developer's break even price or margin.  They could be taking in only a small margin, but if they had overpaid for the land,  then even a small margin would means overpaying for the buyer. 

Sky Habitat (D20) is an example. From 2012 till today, average $psf appreciation for all unit types is -5.35%.  In the same period, 99 years LH condo in D20 has an average $psf appreciation of 23.3%. A very clear example of buying new launches not knowing value and I feel the pain of these buyers. It is hard to swallow when the market has positive appreciation  and your own condo has gone the negative direction instead.

I wrote an ebook in 2018 showing buyers how to check value for new launches. In that ebook, I picked out 5 best value new launches at that time (2018) based on data analysis of the market. These 5 new launches is about  to TOP soon, with current appreciation between 5.52% - 15.8% in their average $psf over just 3 years.  I think buyers of these 5 launches 3 years ago can now sleep quite well knowing that their investment are well protected

 

Edited March 6, 2021 by Icedbs

[therock]

On 3/5/2021 at 9:32 AM, therock said:

Looks like TS has left the building .. 

just shooting the breeze perhaps ?

TS is gone already la...

About a little more than a year ago, there was a thread asking about a terrace house as well and after a few rounds of discussion, he also disappeared... 

@Lms822 - hello 🙂

 

[Mkl22]

1 hour ago, therock said:

TS is gone already la...

About a little more than a year ago, there was a thread asking about a terrace house as well and after a few rounds of discussion, he also disappeared... 

@Lms822 - hello 🙂

 

Looks like @RadXwas right as in the other car thread about over trade. If need to ask so much, means cannot afford! 😂

[RadX]

6 minutes ago, Mkl22 said:

Looks like @RadXwas right as in the other car thread about over trade. If need to ask so much, means cannot afford! 😂

 

[Throttle2]

On 3/3/2021 at 8:29 PM, porkfloss said:

Hi, I am in my early 40s and I am considered debt free as my current HDB has been paid off and there is no outstanding loan (eg car) to service.
 

Recently I have thoughts about upgrading to a condo to provide a better living environment for my family and young kids. My current house is abit small so the extra space and the facilities would definitely enhance the living experience. 
 

However, I am still reserved as that would imply that I would need to restart the loan again till I retire as it would also mean that all my incoming CPF and a proportion of cash would be used to service the mortgage, which would reduce growing my retirement fund. 
 

Just not sure if I should maintain my current worry-less lifestyle or to have a better living environment at the expense of having debts again.

Opinions?

Its only considered an upgrade if the condo is in a better location and bigger than your current place.

otherwise, you are downgrading.

😃

To do it  or not, only you know best and can answer becos we dont have any other information.

good luck 

[Throttle2]

5 hours ago, Icedbs said:

When comes to new launches, buyers have to be very careful about the asking prices.  Unlike resale, the prices are determine by the developer, not the market.

To date, I have not seen anyone  who could show a structured data analysis showing value for new launches.  Or tell me exactly how much premium am I paying above market, and not above their break even. Honestly, I am not bothered about the developer's break even price or margin.  They could be taking in only a small margin, but if they had overpaid for the land,  then even a small margin would means overpaying for the buyer. 

Sky Habitat (D20) is an example. From 2012 till today, average $psf appreciation for all unit types is -5.35%.  In the same period, 99 years LH condo in D20 has an average $psf appreciation of 23.3%. A very clear example of buying new launches not knowing value and I feel the pain of these buyers. It is hard to swallow when the market has positive appreciation  and your own condo has gone the negative direction instead.

I wrote an ebook in 2018 showing buyers how to check value for new launches. In that ebook, I picked out 5 best value new launches at that time (2018) based on data analysis of the market. These 5 new launches is about  to TOP soon, with current appreciation between 5.52% - 15.8% in their average $psf over just 3 years.  I think buyers of these 5 launches 3 years ago can now sleep quite well knowing that their investment are well protected

 

New launches are basically for Robertos.  Developers sharpen parang until like razor.  
buyers stupidly stick their necks out.  
muayhahhahahahahahaha

[Wt_know]

3 minutes ago, Throttle2 said:

Its only considered an upgrade if the condo is in a better location and bigger than your current place.

otherwise, you are downgrading.

😃

To do it  or not, only you know best and can answer becos we dont have any other information.

good luck 

and facing Unesco Botanic Garden  

Edited March 6, 2021 by Wt_know

[Throttle2]

1 minute ago, Wt_know said:

and facing Unesco Botanic Garden  

That would be nice but not everyone can be as lucky as me lah....

[Wt_know]

9 minutes ago, Throttle2 said:

New launches are basically for Robertos.  Developers sharpen parang until like razor.  
buyers stupidly stick their necks out.  
muayhahhahahahahahaha

agent said it’s fking cheap already

you cant afford does not mean other cannot afford

it simply means you are not there yet ... lol

better go back to Yishun “slum” (not i say one)

Edited March 6, 2021 by Wt_know

[Throttle2]

Just now, Wt_know said:

agent said it’s fking cheap already

you cant afford does not mean other cannot afford

it simply means you are not there yet ... lol

better go back Yishun slum

Yup. Standard sales pitch which works very well on half past six Rat-racers.   Prick the ego and see the yolk ooze out.

muayhahaha.  
 

 

[Throttle2]

17 hours ago, Wt_know said:

TS ... no landed no talk ... FREEHOLD some more ... 

No wonder Singapore is paradise.  Even entry level salary also can own condo. , chey....

 

[Sigcomms]

No more liao. In abt 2 yrs, train will terminate at pasir ris station and all pax need to get off the train. Train will turnaround further down the station.

[Sigcomms]

On 3/5/2021 at 4:56 PM, Jamesc said:

One thing about Pasir Ris MRT.

You think stay last stop get on train can always get a seat.

But if you want a seat then you have to take a train to Tampines and then cross platform and take the train back to Pasir Ris again and then get a seat.

Its those pesky Simei people that want to go to town and take the train to Pasir Ris and then sit all the way to City Hall and Raffles Place.

That's the problem with Pasir Ris MRT.

No more liao. In abt 2 yrs, train will terminate at pasir ris station and all pax need to get off the train. Train will turnaround further down the station.

[Atonchia]

On 3/5/2021 at 11:14 PM, Wt_know said:

TS ... no landed no talk ... FREEHOLD some more ... 

This type of report is trying to dupe people..... 

Where got enough? 

Buy already then no need spend on groceries.... 😅😅

No need to spend on child care, tuition, enrichment classes music/arts or other type sports activity? 

These cost few hundreds to thousands a month per kid... 

Then some also support parents... 

Throw in a car...... 

 

Household income should be min 25 to 30k... To own a 1.5m condo and 200k car. 

Then 50k per month to own 2.5m home and 300k car. 

Of course if have $1.5m cash can still buy even with $7k household income a month. 

 

Edited March 6, 2021 by Atonchia

[Voodooman]

When I was in my early 40s, the priority was retirement planning (financial freedom by age of XX). If this is TS' first investment property and he can keep the HDB for rental (sufficient cash to DP for condo), it might make sense. 

But then many plan their retirement based on their primary residence as main takeout (asset). Just buy, sell and downgrade if retrenched/ retired. It is wrong? It has worked for many, will it work again? I don't know. I just didn't do my maths that way. Too much of a cashflow person. 

Sharing a video on retirement planning for commoners like me.

 

Edited March 7, 2021 by Voodooman

[Ginyu]

8 hours ago, Atonchia said:

This type of report is trying to dupe people..... 

Where got enough? 

Buy already then no need spend on groceries.... 😅😅

No need to spend on child care, tuition, enrichment classes music/arts or other type sports activity? 

These cost few hundreds to thousands a month per kid... 

Then some also support parents... 

Throw in a car...... 

 

Household income should be min 25 to 30k... To own a 1.5m condo and 200k car. 

Then 50k per month to own 2.5m home and 300k car. 

Of course if have $1.5m cash can still buy even with $7k household income a month. 

 

They say as long the bank can lend you $1.2m means you can afford it. Lower income cannot even  borrow that amount🤣They also say not anyone can  borrow few millions 

Edited March 7, 2021 by Ginyu

[Weez911]

Just spend lah. What are you going to do with all those digits in your bank account?

Whatever you can spend is 财产, whatever you can't spend while you are alive is 遗产.

Edited March 7, 2021 by Weez911