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Living in JB 2 (Johore)
- Thread starter wuqi256
- Start date
- Status
i am doing a lot of thinking... my situation.. i'm a single breadwinner and have wife and little kids. 40yrs..the age where if i lose my current job, i'll have to drive a taxi
some options..
1. get a condo in sg (S$800k?),
- for rental income (pay the property for itself should be easy).
- however, it is much costlier and
- empty out my rainy-day fund
- take longer time before fully paid (probably 20-30yrs.. would be 60-70yr old by then!)
- but can start rebuilding the rainy-day fund almost immediately cos of the rental income
2. get a cluster in my (RM$800k?),
- for own weekend stay, and retirement.
- kids will not likely want to stay cos of school/work (when they grow up).
- thus renting out hdb and stay here not likely (unable to let the property pay for itself/by hdb)
- renting out the cluster also not viable.. heard rental in my is not good.. may even need to top up damages/wear/tear
- hence have to pay out from my own pocket and
- empty out my rainy-day fund
- take comparatively shorter time before fully paid but can only start rebuilding the rainy-day fund again after that (probably after 10-15yrs.. 50-near 60yr old already. but would i be able to keep my job till then)
3. don't get anything.. be contented with hdb... and save that money in bank, save the headache. consider renting in my instead when the time comes.
options 1 & 2 that require emptying out.. may have affordability issues when my kids reach university age.
option 2 is probably not feasible at all?
is my analysis correct?
i believe some bro/sis have gone thru that thinking process.. perhaps you can share yours/views?
and btw, for a cluster house, how much do you budget annually for maintenance costs? grass, roof, painting, electricals, etc. RM$5k to 10k?
bro, if your HDB mortgage has not been fully settled, would suggest u tackle that first before exploring options 1 and 2.
cheers.,
Aircon can be repaired if you get a really good technician. You should also consider the total amp. Think about your final electrical bill month after month. Before deciding on which type of aircon.
TYVM for your advice. Anyway I am in the process of finalizing things with contractor and starting work asap. In quite a rush cos I'm in process of selling my HDB. See contractor, wait a week for a quote, another week to finalize things, another week to start and so on. Don't think I have time to consider another contractor.
Removed the really 'luxury' items from my list of works like the balcony. Think can get it all done for 120k now. Biggest cost for me are the flooring works as you pointed out, and then the kitchen.
BTW, Tutu, since I told my contractor I not going ahead with hacking and extending, he like bo chap to give me quote and I don't want to push it for now. PSPS.
1. get a condo in sg (S$800k?),
- for rental income (pay the property for itself should be easy).
- however, it is much costlier and
- empty out my rainy-day fund
- take longer time before fully paid (probably 20-30yrs.. would be 60-70yr old by then!)
- but can start rebuilding the rainy-day fund almost immediately cos of the rental income
2. get a cluster in my (RM$800k?),
- for own weekend stay, and retirement.
- kids will not likely want to stay cos of school/work (when they grow up).
- thus renting out hdb and stay here not likely (unable to let the property pay for itself/by hdb)
- renting out the cluster also not viable.. heard rental in my is not good.. may even need to top up damages/wear/tear
- hence have to pay out from my own pocket and
- empty out my rainy-day fund
- take comparatively shorter time before fully paid but can only start rebuilding the rainy-day fund again after that (probably after 10-15yrs.. 50-near 60yr old already. but would i be able to keep my job till then
3. don't get anything.. be contented with hdb... and save that money in bank, save the headache. consider renting in my instead when the time comes.
options 1 & 2 that require emptying out.. may have affordability issues when my kids reach university age.
option 2 is probably not feasible at all?
I would rule out option 1 completely. Option 2 depends as Aisanbo said, on your confidence in Iskandar. If you believe it's like buying SG properties in the 80s, then close both eyes and jump in if you can afford to own it without sacrificing immediate family interests. Or as Jsaon suggest, go for something nearer the 500k mark than 800k.
option 3 is the safest without saying, but as others have also pointed out, absolutely do not just leave your money in the bank. If you want safe (or at least almost as safe as possible without buying Singapore Government Securities, or putting all your money into your special account), liquid investments that yield about 4% or much more are dime a dozen. Strictly on a hold-to-maturity basis though.
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thanks everyone for your replies..
@asianbo:
yes.. retire there eventually.. if i dunk everything, i can pay nearly half that cluster house's price.. but that is a risk, meaning no more rainy-day savings, and i'm at the vulnerable age now.. i'm not in gahmen, no iron rice bowl..
that's why in a dilemma..looking at all the discussions in here.
@jasonjst:
yes.. that's a plus point i see in the community there. don't see that in sg.. in fact, many 'ft' crowded in my hdb fitness/playground area, keeping only to themselves.
financial gains isn't in my equation here, that's why i didn't put in my rough planning (it can go up/down.. just plan what i see i can afford with the cash on hand)
but if i can get some relief from the house (rental), why not? after all, i got dependents..or should i bochap them like some friends do.. let them take study loans in future?
@edragon:
thanks for your views.. yes, it is one of my considerations too.. but i am quite bad with investments. this time, i got to really consider my options. one wrong move means my entire lifetime savings gone..
@horizonhills:
my ultimate aim is to retire in a place that is not crowded, spacious, and cheap. but if doing this results in a degradation of the quality of life, then no point already.
consideration for kids going to school, and eventually they go uni or work.. it is not likely they will want to travel the causeway. that's why if i buy the house there, it will be vacant until we move in for retirement, in perhaps 20-25yrs time.
but considering to buy now is to avoid 'missing the boat' again should it go up in the future.
when that happens, i can really forget about getting out of a pigeon hole..
@yonglip:
yes, hdb already settled, thru cpf. right now focus is gearing towards retirement planning/kids education..
@asianbo:
yes.. retire there eventually.. if i dunk everything, i can pay nearly half that cluster house's price.. but that is a risk, meaning no more rainy-day savings, and i'm at the vulnerable age now.. i'm not in gahmen, no iron rice bowl..
that's why in a dilemma..looking at all the discussions in here.
@jasonjst:
yes.. that's a plus point i see in the community there. don't see that in sg.. in fact, many 'ft' crowded in my hdb fitness/playground area, keeping only to themselves.
financial gains isn't in my equation here, that's why i didn't put in my rough planning (it can go up/down.. just plan what i see i can afford with the cash on hand)
but if i can get some relief from the house (rental), why not? after all, i got dependents..or should i bochap them like some friends do.. let them take study loans in future?
@edragon:
thanks for your views.. yes, it is one of my considerations too.. but i am quite bad with investments. this time, i got to really consider my options. one wrong move means my entire lifetime savings gone..
@horizonhills:
my ultimate aim is to retire in a place that is not crowded, spacious, and cheap. but if doing this results in a degradation of the quality of life, then no point already.
consideration for kids going to school, and eventually they go uni or work.. it is not likely they will want to travel the causeway. that's why if i buy the house there, it will be vacant until we move in for retirement, in perhaps 20-25yrs time.
but considering to buy now is to avoid 'missing the boat' again should it go up in the future.
when that happens, i can really forget about getting out of a pigeon hole..
@yonglip:
yes, hdb already settled, thru cpf. right now focus is gearing towards retirement planning/kids education..
Bro, much opinions have been given by the bros. just wish to add on your point about "kids will not want to travel the causeway".
I think it's premature to conclude this, if they haven't experienced the lifestyle of a landed property vs the pigeon hole. And with the rosy plan of the mrt and the 3rd link, things shall only get better? Or course u will say that "if only" everything goes as planned. But if u should decide to move to JB, your confidence level shall be quite high, so let's not let the transport issue to bog u down. I note your statement on the "compromising quality of life". Even in sinkie, how much time does the youth stay at home nowadays? How much time do they really bond with family? This is talking in general. U might have a very closed family but eventually they will set up their own family, and u will still be at your pigeon hole, if all remains status quo. I admire your spirit that family should come on top of all your condiseration. Why not be slightly more selfish this time and plan something to your benefits AS WELL, while u still can? what if one day everything works out for u and your kids actually like the idea more than u can imagine?
I think it's premature to conclude this, if they haven't experienced the lifestyle of a landed property vs the pigeon hole. And with the rosy plan of the mrt and the 3rd link, things shall only get better? Or course u will say that "if only" everything goes as planned. But if u should decide to move to JB, your confidence level shall be quite high, so let's not let the transport issue to bog u down. I note your statement on the "compromising quality of life". Even in sinkie, how much time does the youth stay at home nowadays? How much time do they really bond with family? This is talking in general. U might have a very closed family but eventually they will set up their own family, and u will still be at your pigeon hole, if all remains status quo. I admire your spirit that family should come on top of all your condiseration. Why not be slightly more selfish this time and plan something to your benefits AS WELL, while u still can?
what if one day everything works out for u and your kids actually like the idea more than u can imagine?
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Dreamoraction, i would go for Laguna given that most developments have also risen up in prices, of course some more than the others.
I see great potential with Laguna but its up to individual.
As for cost savings, like what other bros have suggested, living here can really extend ones "miles" so to speak. Actually quite a few are already doing the daily commute and there are even van services and carpooling be it for school or for work.
Grilles is definitely a plus to have as a deterrent, cameras too. You can install them relatively cheaply. There is no 100% guarantee of course but it will give you a better peace of mind especially when travelling.
Bro Lglab, already cleared, sorry need to clear quite a bit as i do my best to reply to all. You can go through a maid agency and tell them you are not local, some agencies will fob you off by telling you you can't. There are legal ways to do this, just cost a bit more. Basically agency will "sub" out to a company who deals with maids and they will then get all the necessary documents for you so that the maid will essentially be working for them, just that they subbed her out to you. I have tenants and friends who are doing this now. Main caveat is to look out for crooked agencies, with the stricter laws these days, enforcement on crooked agencies are tighter but still caveat emptor.
I see great potential with Laguna but its up to individual.
As for cost savings, like what other bros have suggested, living here can really extend ones "miles" so to speak. Actually quite a few are already doing the daily commute and there are even van services and carpooling be it for school or for work.
Grilles is definitely a plus to have as a deterrent, cameras too. You can install them relatively cheaply. There is no 100% guarantee of course but it will give you a better peace of mind especially when travelling.
Bro Lglab, already cleared, sorry need to clear quite a bit as i do my best to reply to all. You can go through a maid agency and tell them you are not local, some agencies will fob you off by telling you you can't. There are legal ways to do this, just cost a bit more. Basically agency will "sub" out to a company who deals with maids and they will then get all the necessary documents for you so that the maid will essentially be working for them, just that they subbed her out to you. I have tenants and friends who are doing this now. Main caveat is to look out for crooked agencies, with the stricter laws these days, enforcement on crooked agencies are tighter but still caveat emptor.
Agree, i will always go for the safest way and if i decided to buy,i would go and get the biggest i can reasonably afford (if for own stay)
Don't over stretch it if its already beyond your budget. This is true for both renovation as well as for home buying. Notice i said home rather
than house because it should primarily still be for own stay rather than purely for investment.
Hi Teck, balcony, etc can be done at a later date especially if its mainly external work, after all its a freehold place so can do at your own pace.
I will make it a point to do all additional electrical, lighting, fan/aircon and kitchen(any other wetworks first), then get contractors to clean up and then
move in. Having too many small works (internal) will mess up your schedule as well as may warrant additional cleaning which may become a headache.
Greddy88,
If your time horizon is 20-25yrs from now, then you probably should not rush in now.
Just imagine the upkeep for next 20-25yrs every month, when you leave the place empty 80% of the time... 800k, even in ringgit is not small money (at least to me).
As one gets older, perspectives change, so you probably can reconsider your options when your kids are older, your HDB fully paid up and you still have excess money for another property in JB that you can comfortably afford without affecting your lifestyle.
Alternatively, if all you want for is a place that is not crowded, spacious and cheap, why not venture further outside of JB?
There are other places like Melaka or Ipoh... really nice places too and generally safe, lots of chinese population (if that is a criteria), good food, medical facilities, etc... and if I am not mistaken, they do not have the 500k minimum for foreigners... maybe something like 250k or 300k minimum (please check yourself as I may be wrong here).
Certainly there are various options but I would say, get a stable footing first in Spore (fall-back scenario) before venturing next door ... and most importantly, your wife and family must buy in to your ideas and give you their support... otherwise it will be tougher than tough.
Good luck!
### Noted - you've paid up the HDB...
In this case, you should look at the various alternatives for sure.
If your time horizon is 20-25yrs from now, then you probably should not rush in now.
Just imagine the upkeep for next 20-25yrs every month, when you leave the place empty 80% of the time... 800k, even in ringgit is not small money (at least to me).
As one gets older, perspectives change, so you probably can reconsider your options when your kids are older, your HDB fully paid up and you still have excess money for another property in JB that you can comfortably afford without affecting your lifestyle.
Alternatively, if all you want for is a place that is not crowded, spacious and cheap, why not venture further outside of JB?
There are other places like Melaka or Ipoh... really nice places too and generally safe, lots of chinese population (if that is a criteria), good food, medical facilities, etc... and if I am not mistaken, they do not have the 500k minimum for foreigners... maybe something like 250k or 300k minimum (please check yourself as I may be wrong here).
Certainly there are various options but I would say, get a stable footing first in Spore (fall-back scenario) before venturing next door ... and most importantly, your wife and family must buy in to your ideas and give you their support... otherwise it will be tougher than tough.
Good luck!
### Noted - you've paid up the HDB...
In this case, you should look at the various alternatives for sure.
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Bro, much opinions have been given by the bros. just wish to add on your point about "kids will not want to travel the causeway".
I think it's premature to conclude this, if they haven't experienced the lifestyle of a landed property vs the pigeon hole. And with the rosy plan of the mrt and the 3rd link, things shall only get better? Or course u will say that "if only" everything goes as planned. But if u should decide to move to JB, your confidence level shall be quite high, so let's not let the transport issue to bog u down. I note your statement on the "compromising quality of life". Even in sinkie, how much time does the youth stay at home nowadays? How much time do they really bond with family? This is talking in general. U might have a very closed family but eventually they will set up their own family, and u will still be at your pigeon hole, if all remains status quo. I admire your spirit that family should come on top of all your condiseration. Why not be slightly more selfish this time and plan something to your benefits AS WELL, while u still can?
The point about "kids will not want to travel the causeway".
I think it's premature to conclude this, if they haven't experienced the lifestyle of a landed property vs the pigeon hole.
Bro , I need to agree that kids might like this idea then most oldies . For the past few years , I have notice that it is actually the youngest that convice /support the oldies to move over. I was surprised when my relatives come to my JB house , the kids got no objection at all when their parent mooted the idea that they move to JB ! Two of the Singaporean neighours , their children are age between 15 to 20 plus , moving in and out frequently.
That is bad news to me coz i ride back to SG everyday... Hope they dun implement to sporean motorcyclist.
Bro,..ok since HDB fully paid,..now can talk about Option 1 and 2.
I am also in your age group ,..so i think i can empathise better,..haha.
If u ask me, both options 1 and 2 are viable paths to the same destination. Its just which is more palatable given your circumstances.
Lets look at option 1:
U did mention half a cluster i.e. RM400K so i presume u have close to SGD200K in idle cash which u wanna make full use of. Nobody dumps all the cash in bro,...would suggest u keep half for truly rainy days and use the other half for investment. so effectively we are talking about SGD100K here bro. for condos even at SGD800K, you will need about close to SGD200K as downpayment + stamp/legal, paid in part by cash/cpf. since u mentioned HDB fully paid with CPF, i presume CPF is close to empty. so cash wise, you may not be ready financially for the condo bro.
That leaves us with Option 2:
At RM600K...even at 30% down, it is about SGD100K upfront with legal/stamp and even basic reno included. Monthly payments is about SGD800 or SGD10,000 per year. If you travel with your family once/twice a year, you will know that it can easily cost SGD10,000 for the trips. So u can view this SGD10K as travelling/holiday expenses. The difference is your whole family get to chop passport at least once a week and enjoy a short getaway in a bigger space...one of the cheapest and best ways to bond as a family. More importantly, u have a landed home + HDB waiting for u when u retire.
happy deciding bro,..haha.
Thanks much bro wuqi. That's a big doze of confidence booster! Thank u!
Dreamoraction, i would go for Laguna given that most developments have also risen up in prices, of course some more than the others.
I see great potential with Laguna but its up to individual.
As for cost savings, like what other bros have suggested, living here can really extend ones "miles" so to speak. Actually quite a few are already doing the daily commute and there are even van services and carpooling be it for school or for work.
Grilles is definitely a plus to have as a deterrent, cameras too. You can install them relatively cheaply. There is no 100% guarantee of course but it will give you a better peace of mind especially when travelling.
Bro Lglab, already cleared, sorry need to clear quite a bit as i do my best to reply to all. You can go through a maid agency and tell them you are not local, some agencies will fob you off by telling you you can't. There are legal ways to do this, just cost a bit more. Basically agency will "sub" out to a company who deals with maids and they will then get all the necessary documents for you so that the maid will essentially be working for them, just that they subbed her out to you. I have tenants and friends who are doing this now. Main caveat is to look out for crooked agencies, with the stricter laws these days, enforcement on crooked agencies are tighter but still caveat emptor.
I think if you want to hear from the horse's mouth (from the perspective of a youth and gen Y), no one knows better than bro lastresort. But he is busy preparing for exam now so he might not respond. Bro lastresort, have a second to say hello? 
Consider Renting out HDB but keep a room for : Kids Edu
& yr own stay. The rental Income may help to pay off the MY property. This is a lifestyle trade off.
& yr own stay. The rental Income may help to pay off the MY property. This is a lifestyle trade off.
i am doing a lot of thinking... my situation.. i'm a single breadwinner and have wife and little kids. 40yrs..the age where if i lose my current job, i'll have to drive a taxi
some options..
1. get a condo in sg (S$800k?),
- for rental income (pay the property for itself should be easy).
- however, it is much costlier and
- empty out my rainy-day fund
- take longer time before fully paid (probably 20-30yrs.. would be 60-70yr old by then!)
- but can start rebuilding the rainy-day fund almost immediately cos of the rental income
2. get a cluster in my (RM$800k?),
- for own weekend stay, and retirement.
- kids will not likely want to stay cos of school/work (when they grow up).
- thus renting out hdb and stay here not likely (unable to let the property pay for itself/by hdb)
- renting out the cluster also not viable.. heard rental in my is not good.. may even need to top up damages/wear/tear
- hence have to pay out from my own pocket and
- empty out my rainy-day fund
- take comparatively shorter time before fully paid but can only start rebuilding the rainy-day fund again after that (probably after 10-15yrs.. 50-near 60yr old already. but would i be able to keep my job till then
3. don't get anything.. be contented with hdb... and save that money in bank, save the headache. consider renting in my instead when the time comes.
options 1 & 2 that require emptying out.. may have affordability issues when my kids reach university age.
option 2 is probably not feasible at all?
is my analysis correct?
i believe some bro/sis have gone thru that thinking process.. perhaps you can share yours/views?
and btw, for a cluster house, how much do you budget annually for maintenance costs? grass, roof, painting, electricals, etc. RM$5k to 10k?
I think if you want to hear from the horse's mouth (from the perspective of a youth and gen Y), no one knows better than bro lastresort. But he is busy preparing for exam now so he might not respond. Bro lastresort, have a second to say hello?
i think young dragon only go in on weekends not daily basis...
Yes, got an email from them - they launched the final phase - Tower C. Understand that they are giving away SenQ vouchers up to RM 15K for the first certain number of units.
This is what i am doing ...
Renting my parents' HDB out and stay in JB.. while the installment is $1100 SGD.
HDB whole unit can be rented out for $2200 ..
So gain $1100 converted to RM will be 2640RM
That can be used to cover daily expenses and stuffs while you save 100% of your salary.
Too tough in singapore, he is very much like me.
I am only age 28 but i have the following liability
1. Parents both aged 73 and aged 70. They both suffer medical problems such as parkinson disease and aorta problem, osteoporosis and etc..
2. My foreign wife aged 28, where the sinkies government refused to grant her PR and want her to reside in sinkies in LTVP
3. MY kid only 6 months old.
4. Still paying my own HDB which I need to fork $280 cash to pay for it after deduction from CPF.
I am the only sole breadwinner. .. and as aged 28 , of cus my earning power will definately be much lower than age 40.
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