To sell or hold my 4rm HDB flat?

[makapaaa]

<TABLE class=forumline border=0 cellSpacing=1 cellPadding=3 width="100%"><TBODY><TR><TD class=row1 vAlign=top width=150 align=left>life



Joined: 14 Oct 2004
Posts: 34

</TD><TD class=row1 height=28 vAlign=top width="100%"><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD width="100%"> Posted: Sun Nov 08, 2009 10:38 pm Post subject: To sell or hold my 4rm HDB flat?</TD><TD vAlign=top noWrap> </TD></TR><TR><TD colSpan=2><HR></TD></TR><TR><TD colSpan=2>Hi all...need your expert advice here.

Currently i have a 4rm hdb flat in the north bought at $240K
Thought of selling it and downgrade to 3rm and get about $80K cash after payback to CPF with interest.
But now 3rm costs almost the same price or even more as what i have paid for my 4rm before.
Only good thing is i can get extra cash.
Should i keep the 4rm for rental or downgrade to 3rm and get cash?

Thanks.....</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>

 

[shOUTloud]

He said it, right? 4rm same price as 3rm. If he sells his 4rm and buy a 3rm, he has to bear agent fees, home moving fees, stamp duties etc etc. Why bother to sell? Just rent out one room but good luck to looking for a tenant. Now not many tenants in the market leow.

 

[Jabba]

r u married?

 

[krafty]

<TABLE class=forumline border=0 cellSpacing=1 cellPadding=3 width="100%"><TBODY><TR><TD class=row1 vAlign=top width=150 align=left>life



Joined: 14 Oct 2004
Posts: 34

</TD><TD class=row1 height=28 vAlign=top width="100%"><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD width="100%"> Posted: Sun Nov 08, 2009 10:38 pm Post subject: To sell or hold my 4rm HDB flat?</TD><TD vAlign=top noWrap> </TD></TR><TR><TD colSpan=2><HR></TD></TR><TR><TD colSpan=2>Hi all...need your expert advice here.

Currently i have a 4rm hdb flat in the north bought at $240K
Thought of selling it and downgrade to 3rm and get about $80K cash after payback to CPF with interest.
But now 3rm costs almost the same price or even more as what i have paid for my 4rm before.
Only good thing is i can get extra cash.
Should i keep the 4rm for rental or downgrade to 3rm and get cash?

Thanks.....</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>

can't advise you as I am in no position to do so,I merely owned my own flat for about a year and then returned to HDB.

 

[dysentry]

3rm for $240k only left ulu areas, and even these asking for 20k cash.

Better areas all want 35k cash. Easier to find if you're tanned or dark.

Next year this time, will invert into buyer's market.

 

[Boliao]

The correct thing to do is to take that $240K, go to Malaysia and but a 10,000sqft bungalow at RM$250K, convert the rest to RM as well and retire there; or commute to Singapore for work.

 

[Starving.Artist]

if you are not using all the rooms, i say rent it out... at least one room. the income will either offset the monthly payment or give you a little extra money.

 

[longbow]

Why did you return the flat? Shouldn't you wait 5 years and put it on resale market?

can't advise you as I am in no position to do so,I merely owned my own flat for about a year and then returned to HDB.

 

[krafty]

Why did you return the flat? Shouldn't you wait 5 years and put it on resale market?

Extraordinary things happen to extraordinary people

 

[Cestbon]

The only advantage of selling flat if the owner can move in with their parents after selling flat so can cash in since the price is on the highest point now. Wait until price drop and then buy again.
But they must have good relationship with parents/in law. Give some token or ang pow from the selling HDB flat to parents sure they will treat both of them as king/queen. Is a win win situation for flat seller and parents.

 

[borom]

if.....can cash in since the price is on the highest point now. Wait until price drop and then buy again......a win win situation

A sensible and good piece of advice.

Many tend to forget the simple rule " Buy low,sell high" or in this case
" Sell high, buy low"

Many of the so called upgraders recently sell high (their HDB) and buy even higher (private)-so even if they can service the loan, they will be slaving away till 65 (or more) for their property.

 

[theblackhole]

In this very unpredictable time, it's good if we can discharge all our loans and mortgages...esp for those in their 50s and 60s. Better FREE yourself instead of loading yourself with more loans and more mortgages - all these will kill you and your family sooner than you think.Don't be fooled by the low monthly payments...you just never know.You lose your job or your wife loses her job..then financial difficulties will acceleratea and cause more harm to your family...sometimes ending in tragedy...we all know too well the outcome when money becomes a thorny issue at home..

So sell, get the cash, downgrade and FREE yourself....and be a free,happy and contented man. A man in debt is in debt forever!

 

[Internet Brigade]

can't advise you as I am in no position to do so,I merely owned my own flat for about a year and then returned to HDB.

You must learn to be frugile and live within your means.

 

[Yoshitsune Minamoto]

You must learn to be frugile and live within your means.

This is a lanjiao statement from a pappy doggie or whatever u like to call them. Why? Because the elite class will say that to peasants but they don't have to be thrifty because they are of a different class. Am i right? :oIo: