My views on Iskandar. Please share yours.

[Tekkun]

For retirement, it is best to go for condo especially just only old couple.

Kids won't stay with you and many times you go on tours. It is a chore to clean big houses.
Pick a good condo like Avira or Affniti which is developed by Temasek.

Put RM 1.0m in Fixed deposit currently at 4.2%, you get RM3500 per month interest.
That will go for rental payments while the principal sum is intact.

 

[Frodo]

For retirement, it is best to go for condo especially just only old couple.

Kids won't stay with you and many times you go on tours. It is a chore to clean big houses.
Pick a good condo like Avira or Affniti which is developed by Temasek.

Put RM 1.0m in Fixed deposit currently at 4.2%, you get RM3500 per month interest.
That will go for rental payments while the principal sum is intact.

Seriously bro??? Is it just me or does everyone else here has $2.6m in their wallet or a few hundred thousand S$ to place in FD to generate interest income to pay for condo rental?

 

[Manhattan]

Seriously bro??? Is it just me or does everyone else here has $2.6m in their wallet or a few hundred thousand S$ to place in FD to generate interest income to pay for condo rental?

It is possible for an average earning couple in their forties to have that amount of cash to place in fd. But I am not sure if it is the wisest thing to do. Let's say the couple retire at 55 and rents in iskandar or any other cities as a lifestyle. The interest may be sufficient to pay for the rent, they still need to fork out cash for daily expenses etc. So the savings will be depleting over the years and inflation will reduce further the spending power. If the couple live till 85 years old, the rm 1m is not enough to last another 30 years. In short, this method is not inflation proof and not sustainable.

 

[Tekkun]

Seriously bro??? Is it just me or does everyone else here has $2.6m in their wallet or a few hundred thousand S$ to place in FD to generate interest income to pay for condo rental?

If one want to stay in a lifestyle condo that cost many millions yet do not want to commit mortgage repayment loans over the next 15 years, this is the best alternative. In countries that have low bank interests, it is not good but in Malaysia where the interests is 4.2%, it is possible. RM1.0 million is just a figure but S$600k (HDB) itself is RM2.0 million. Is that possible to retire gracefully? It is the same as renting out your HDB in Singapore and use that rental to pay off your JB retirement expenses. The only difference is with that FD, you have cash on hand on demand. Don't forget, when you are old, you have many unexpected expenditures.
You do not need to buy a property to retire. You need not slog out your golden years. Your kids do not need those properties.

 

[Manhattan]

Leaving a property to kids or not is an individual choice. I know of a lot of parents who want to leave a freehold property for the kids. Given a choice and able to afford comfortably, I would like to own a freehold landed in Melbourne and leave it for the kid when I passed on, knowing that she has something to fall back on and don't have to bear a million dollar loan just to have a roof over her head. And why melbourne is because I think it is relatively affordable for a good size landed and has clear rule of law, much lower chance of it gone with 'a stroke of the pen'. Melbourne is also much more comfy to live in a landed because of the weather and no need to deal and worry about the mozzies.

 

[Frodo]

If one want to stay in a lifestyle condo that cost many millions yet do not want to commit mortgage repayment loans over the next 15 years, this is the best alternative. In countries that have low bank interests, it is not good but in Malaysia where the interests is 4.2%, it is possible. RM1.0 million is just a figure but S$600k (HDB) itself is RM2.0 million. Is that possible to retire gracefully? It is the same as renting out your HDB in Singapore and use that rental to pay off your JB retirement expenses. The only difference is with that FD, you have cash on hand on demand. Don't forget, when you are old, you have many unexpected expenditures.
You do not need to buy a property to retire. You need not slog out your golden years. Your kids do not need those properties.

Well in a way you are quite right that my rented out HDB flat is like a fixed deposit, generating rental to pay mortgage.:p Again this is only made possible because we moved over the Causeway (Malaysia boleh! !!). I won't be able to pull off this stunt if I still live in Singapore.

 

[Frodo]

Leaving a property to kids or not is an individual choice. I know of a lot of parents who want to leave a freehold property for the kids. Given a choice and able to afford comfortably, I would like to own a freehold landed in Melbourne and leave it for the kid when I passed on, knowing that she has something to fall back on and don't have to bear a million dollar loan just to have a roof over her head. And why melbourne is because I think it is relatively affordable for a good size landed and has clear rule of law, much lower chance of it gone with 'a stroke of the pen'. Melbourne is also much more comfy to live in a landed because of the weather and no need to deal and worry about the mozzies.

But in Melbourne during certain months have to deal with the buzzies. ..the flies that keep going into eyes and ears.

Anyway, in my case buying property in any other country is definitely not workable because I need my Singapore job and also my HDB to earn rental to cover mortgage payments.:p

 

[Frodo]

It is possible for an average earning couple in their forties to have that amount of cash to place in fd. But I am not sure if it is the wisest thing to do. Let's say the couple retire at 55 and rents in iskandar or any other cities as a lifestyle. The interest may be sufficient to pay for the rent, they still need to fork out cash for daily expenses etc. So the savings will be depleting over the years and inflation will reduce further the spending power. If the couple live till 85 years old, the rm 1m is not enough to last another 30 years. In short, this method is not inflation proof and not sustainable.

No wonder I don't have that kind of money....I am the only breadwinner....:o

 

[Tekkun]

But in Melbourne during certain months have to deal with the buzzies. ..the flies that keep going into eyes and ears.

Anyway, in my case buying property in any other country is definitely not workable because I need my Singapore job and also my HDB to earn rental to cover mortgage payments.:p

And I don't have a Singapore job and HDB rental. :(
I know Singapore jobs pay well too..sob... sob..

 

[Frodo]

And I don't have a Singapore job and HDB rental. :(
I know Singapore jobs pay well too..sob... sob..

Mine don't leh.....:o just an average Joe earning average income. Buy JB house also looked for those where the prices were closest to minimum purchase price. If only I have $2.6m in my wallet.....

 

[Tekkun]

Mine don't leh.....:o just an average Joe earning average income. Buy JB house also looked for those where the prices were closest to minimum purchase price. If only I have $2.6m in my wallet.....

If I have $2.6m = RM7.8m = RM27,300 interest per month...wat more do you want? Break both legs also cannot finish liao.
But.....IF ONLY.....how come some people so lucky one?

 

[Frodo]

If I have $2.6m = RM7.8m = RM27,300 interest per month...wat more do you want? Break both legs also cannot finish liao.
But.....IF ONLY.....how come some people so lucky one?

Different starting points...lol!

 

[Frodo]

Make sure your auto gate can still open or close when electricity failed. Else you can get in or out or it can't close when you go out or to bed.

They gave us a kind of Allen key for emergency use....now if only I can recall where I put that key...

 

[Tekkun]

They gave us a kind of Allen key for emergency use....now if only I can recall where I put that key...

Go buy a set from any DIY shop. Max also about RM20.00, you get about 10 different sizes.
My autogate has a key at the solenoid lock.

 

[Frodo]

How can you ever think like that?

Ya lor....because haze don't just affect Iskandar properties...and neither is it always hazy.

 

[xebay11]

If I have $2.6m = RM7.8m = RM27,300 interest per month...wat more do you want? Break both legs also cannot finish liao.
But.....IF ONLY.....how come some people so lucky one?

Yah I know that is why I need to reconsolidate and restructure. Now is considered sleeping on the money.

 

[kezgtree]

But in Melbourne during certain months have to deal with the buzzies. ..the flies that keep going into eyes and ears.

Anyway, in my case buying property in any other country is definitely not workable because I need my Singapore job and also my HDB to earn rental to cover mortgage payments.:p

between Mel. and boleh land.....i would choose Mel. reason being wheather is good for 9 months..cold or chilly it suits me find and you don't get agitated easily...life pace is alot slower..and you have free Tram rides within CBD all the time...

 

[xebay11]

Keep guns.

Aya I scare the robber take from me and use it against me lah, I have baseball bat steering wheel lock in car also dare not use as weapon lol!

 

[xebay11]

Leaving a property to kids or not is an individual choice. I know of a lot of parents who want to leave a freehold property for the kids. Given a choice and able to afford comfortably, I would like to own a freehold landed in Melbourne and leave it for the kid when I passed on, knowing that she has something to fall back on and don't have to bear a million dollar loan just to have a roof over her head. And why melbourne is because I think it is relatively affordable for a good size landed and has clear rule of law, much lower chance of it gone with 'a stroke of the pen'. Melbourne is also much more comfy to live in a landed because of the weather and no need to deal and worry about the mozzies.

Well you described me to a T Frankly, between leaving property to your child and an education I would take leaving a legacy, so many older ah pek who barely earn $2k have paid up HDB, whereas dual income no kid grads have to pay 30 yr loan for HDB?????? Really makes no sense, degree so what? Buying a property cheap should be priority.

 

[xebay11]

between Mel. and boleh land.....i would choose Mel. reason being wheather is good for 9 months..cold or chilly it suits me find and you don't get agitated easily...life pace is alot slower..and you have free Tram rides within CBD all the time...

Yep and Melb got lots of Asians, you feel right at home.