Distinct 15 Hdb Or Exceutive Condo

[izonedira 0]

Hi,

I would like to ask for a constructive opinion for my dilemma.

I'm trying to choose between a 30 year old HDB with close proximity to fort road, in excess of 130sqm around the price of $700000, expecting a Reno of $50000. Or an EC to complete in 1 year plus, north area, 90plus sqm 3 bedder, close to $800000, needing a rental of a year plus till TOP to consider. I know it's a bummer to ask which one would yield a better investment in 5 years time, but also the thought of living so close to town and it's accessibility to anywhere with the amenities around, I just need help. Hope some opinion would help me sway to a decision. Help please...

[kellogs 0]

Where Is the north area? Woodlands?

[lilian.quek 6]

i think the bigger hdb at fort road seems better, better location and bigger. can reno until good as new and dun need to rent for one year

[bepgof 20]

It's a lifestyle choice vs financial investment decision making....

Perhaps the 'biggest' financial commitment in life.... besides wedding...

Do the right things, the right way at the right time.

Know your priorities and set them right.

Small/big house? Long/short stay? For pets/children?

Want car?Public tpt?

Now/later?

Privacy important? Must rent?....

5 years 'investment' yield in residential property? Too short to talk about yield....

Ask yourself, who are buyers for 'old' EC? .......

My advises:

- fulfill needs (eg, further study)then settle wants....not the other way. Time waits for nobody.

- Don't follow 'herding' trend - monkeys see monkeys do - see surface only - each has their 'hidden agenda' under table.

- Bite-the-bullet and defer 'unnecessary' consumption help.....

- Do home work yourself for market trends - fish yourself - so u master skill of fishing eventually...

- Be owner takes time and commitments, no quick fit. Need bite bullets....

- Quick fit? Got! Pay rental fee lor. Everyday go holidays, keep pets, drink copi at orchard rd......BUT,PAY $ when due....

Edited October 5, 2014 by bepgof

[bepgof 20]

Some small fishes here....

http://www.singstat.gov.sg/statistics/visualising_data/chart/HDB_Resale_Price_Index.html

https://www.squarefoot.com.sg/market-watch/executive-condominium

https://sg.finance.yahoo.com/news/getting-ec-vs-bto-flat-160000522.html

http://www.iproperty.com.sg/news/6775/Resale-EC-prices-higher-than-new-units

A true story of mine.

Many many yrs back,I got a 123sqm 5rm from primary mkt, signed 10yr hdb loan, but fully redeemed at 6th yr. All settled via cpf.

B4 this, was intended for further study however due to arrival of much early HDB key (golden opportunity then), we ROM, held wedding, reno....pockets emptied...

We saved .....hope to go U.....who know..2 yrs later, son arrived....his younger sister followed after 20 months.

My study needs ??....

10yrs gone, we builtup substantial cpf...but gov said for part time study. I remember, Tony Tan once said "TWO UNIVERSITIES ARE ENOUGH !"

Never mind, I shifted my focus onto property class, beside stock mkt. 2005 Jul, I paid 5%+15% for a leased hold 99 yr 3 bedder. Bank loan. Mid 2006,we moved in after TOP while sublet whole HDB out....for one year til end 2007 to a Philippines family, then sold the HDB. Total 13 yrs ownership with HDB.

Redeemed condo after selling HDB. Children enjoyed the facilities for ONLY 6 MONTHS, after that hardly consumed. Anyway, we stayed there for 3.5 yrs and sold away as there were some condos next door were being built. I got the family with a resale HDB 5-rm, high floor, nice view, convenient location (I could afford then). After 1 yr MOP, I paid 20 % down payment for a 850sqf FH in D15 .....now collecting rental.

2011, I wrote a long email, explained to my children (JC1 & S3) why I was about to 'pickup the books' again.....It was no long my needs but 'WANT'.

I've accomplished my want in end 2013 and got degree conferment in 2014 fall.

I'm sure, your decision, will have great influence in pathway ahead.

Think of getting a smaller one with lighter financial commitment while able settling down some urgent 'needs'? Believe u're young enough.

Location is a 'want' not a 'need'. I'm staying in D16, very familiar with D14 & D15.

'Wants' can always be fulfilled at later stage of life.

EC is a 'want', not a 'need'

Always get yourself prepared and on the look out for opportunities.

For luck happens only when preparation meets an opportunity.

Good luck!