Think Thrice before you buy HDB Resale Flat!

[sleaguepunter]

with a shorter loan tenure, then cannot buy overpriced flat as cannot "afford". With a lower demand, price then will come down.

instead of kpkb sinkies spending future $$, reflect on yourself first. let one who without sin cast the first stone. only ppl who are debt free can make the remake you had posted.

if ppl have no idea how their life would be in the future, then it their own faults too. Dont everything blame pap/wp/sdp or whatever govt in power. All this info are for public viewing, so if they didnt plan properly, whose faults is it?

 

[longbow]

Of course we know that $100K in 30 years is only $30K in today's money based on 4% inflation. On the other hand that $300K flat will likely be worth $1.5M in 30 years. You go look at any property 30 years ago and compared to todays price easily a 10 fold increase so my example for a 5 fold increase (300k to 1.5M) is conservative.

100K flat is 80K loan, 2.6% per year interest 78% in 30years. 62.4K in interest, 142.4K minus 120K from CPF means 22.4K in cash.
good luck to those million dollar home owners, 224K in cash for repayment.

 

[longbow]

Most Singaporeans can buy direct from HDB. Much as some complain about price, buying direct from HDB is a pretty good deal. To make it more affordable, Gov can ramp up the grants.

 

[zhihau]

so uncle finish paying for your hdb or still struggling?

me don't have any freaking idea of those mortgages, my folks handled those stuffs long ago. me merely help them choose the unit number. :o:o:o

 

[Extremist]

GMS did you give the same advice to the buyer who bought your 4 rm resale flat?

 

[Crane]

I heard GMS sold his HDB flat right ?

Is he now trying to 'talk the resale market down' so that he can buy at a more affordable price ?

If he says that aliens UFOs are going to invade Singapore, it will sound more convincing.

 

[zhihau]

You go look at any property 30 years ago and compared to todays price easily a 10 fold increase so my example for a 5 fold increase (300k to 1.5M) is conservative.

1. do our income increase as fast?
2. HDB is supposed to be affordable housing for the masses, no?