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Lisa

To Buy Or Not To Buy?

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Thanks folks for all the valuable replies. Guess I really have to do my own maths. We went into rental of our home because we had quite a number of friends, property owners sold off their roof, take rental and bet of the fall of property price.

I heard many new launch including those who is still under construction still have many vacant units for sale (well which we dont hear these news in the papers). This number of vacant unit will sky rocket in a yr or 2 when there are lesser influx of immigrant. I do have many foreigners who already feel the restrain from the gov's approval for work permit and PR application after the last GE. Imagine the gov is churning out more and more HDB, more and more private property launch, our fellow Singaporean is not producing enough babies or not starting a family.

PPls do then you do? PPls always have their own "hidden agenda", do you have?

 

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Pointer#1

Price behaviour in pty mkt, unlike the same in stock mkt. Pty price regulate much slower than....it takes time (years) to really have the right sentiment to know the turning points. Jumping into "rental" while monitoring stage is not wise (simply u don't know how long it would stay up, flat, or down) Wise to be a "FARMER" at this stage. Cash outlay by renting weaken your purchasing power in the future, common sense right?.

Pointer#2

How/what/where to monitor for "buy" decision to be made? HDB, URA, SLA, developers....

$psf? district? L99, FH? COV? Resale? New? So many..., you need to narrow down your "target" for effectiveness and efficiency.

Pointer#3

A real "hunter" usually backed with vast resources (I call it hidden agenda).They have been "farmers" before. They can afford to have "modern" life-style choices.

Pointer#4

My personal "sentiment" in pty mkt, as at present, are:

- Would see a general surplus in supply of completed residential units, starting 1Q 2013. Buying sentiment "soften" then.

- Ppls(upgraders + investors)NOW stay sideline monitoring.

- More developers would come with more "sweeteners" to woo the "bees".

- Most young "professionals" turn to ECs.

- More >35yo single come into HDB resale.

- Europe credit crisis could be worsen anytime.

- More "angmors" will be seen in Singapore/HDB.

- The "invisible hand" would anytime, come to "stir" the pty mkt.

Anymore?

 

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If you are worry about buying at a high price of property and does not wish to committ your saving to it. You may want to first buy a lower end unit and wait for the down cycle to upgrade to a high end unit.

eg. a 20% drop in a 2million property now cost $1,600,000

20% drop in a $500,000 property now cost $400,000

Say you brought a $500,000 unit now and 2 years later you sell it at $400,000, and buy the $1,600,000 unit. You would have make a good buy....and at the same time you dont have to pay rent while waiting for the property market to drop. ....assuming your friend bet on falling market in 2 years is true.

 

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my bet = EC or resale hdb coz she's in HDB resale/new/EC folder!

frankly, no good or bad time to buy coz life is an adventure.

Rent a place, no lumpsum commitment, don't like location change every 1-2yr (when contract over) then people say you stupid, help landlord pay mortage.

Buy a place, burn all your savings into down and reno then people say you waste money on reno blah blah, see others go holiday to EU/USA but you suck thumb only can go TH/TPE ok at most JPN/ICN, cannot change car (but then most of us also cannot lah so this one no story).

3-5yr down the road if heng heng pty goes up the yeah! if LL market crash then so be it, there are thousands out there who will suffer together so all go Lala Land together. Think so much for what, scarly tmw die liao also cannot bring savings to grave. End of the day, decide how much u can spare for down then browse around for something around your budget. Like shopping for a man, have a checklist and check check check until something close comes by and you'll realise not all men will still be there when you shop from #1 to #10..., if not there means not meant to be..move on.

 

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My philosophy: There is NEVER a good time to buy anything. From electronic gadgets, to cars, to property.

If u think the price is fair and right, go for it....

Ah bo at a later time, u will say "Aiya had I know it........"

Good luck and all the best :sport-smiley-018:

I agree with Batman.

As long as you find that the place is right and the price is fair, just go for it.

I'm also currenty looking for a resale flat and to be frank, I'm also not sure whether it's the right time to make a move, but I still decided to go ahead with it and go with the flow of the events. :yamseng:

Edited by dreamzgal
 

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Me and my hub had been staying with his family till recently. We had moved out and rented a place we call our home. Always wanted to buy a "actual" home that belong to us but recently with the Euro crisis and US debts, we are seriously considering if this is the best time or till the property market crash. Recently there are lots of news saying that residential pricing is going to go south in 2-3 years time due to over supply. But then you keep seeing price increment day by day. To buy or not to buy, its a tough decision, any expert to advice? I do understand it doesnt matter if its for a roof over our head but if the timing is right, we can really save alot on our first property.

Mr. Market is always smarter than anybody. So therefore, do not try to outsmart Mr. Market; you are sure to lose to Mr. Market.

Case in Point: In my line of work, I have got to know many Bankers. 5 years ago, these Bankers told me: Property prices too high already, better sell fast, or get caught in a big crash. The same Bankers actually sold off their Private Property homes, and rented their place to stay. But my wife and me, we bodoh bodoh go out and buy our house, anyway. City Central, 10 minutes away from Shenton Way. Today, Wifey and me laugh and smile every day, every night. Big money already made. The same guys who sold off their Property, waiting for Big Crash? They are still paying Rent. Still waiting for the Big Crash.

What is even more scary is, today, I see a lot of people selling off their house and renting, while waiting for a Crash. I am afraid for them, and afraid that they will end up in a Trap like my Banker friends described above.

Disclaimer: I am not saying that I am a know-it-all, who knows what the Market is going to do tomorrow, next month, or next year. I am only saying: nobody knows what is going to happen next. My wife and me, in our case, we just got Lucky.

 

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Mr. Market is always smarter than anybody. So therefore, do not try to outsmart Mr. Market; you are sure to lose to Mr. Market.

Case in Point: In my line of work, I have got to know many Bankers. 5 years ago, these Bankers told me: Property prices too high already, better sell fast, or get caught in a big crash. The same Bankers actually sold off their Private Property homes, and rented their place to stay. But my wife and me, we bodoh bodoh go out and buy our house, anyway. City Central, 10 minutes away from Shenton Way. Today, Wifey and me laugh and smile every day, every night. Big money already made. The same guys who sold off their Property, waiting for Big Crash? They are still paying Rent. Still waiting for the Big Crash.

What is even more scary is, today, I see a lot of people selling off their house and renting, while waiting for a Crash. I am afraid for them, and afraid that they will end up in a Trap like my Banker friends described above.

Disclaimer: I am not saying that I am a know-it-all, who knows what the Market is going to do tomorrow, next month, or next year. I am only saying: nobody knows what is going to happen next. My wife and me, in our case, we just got Lucky.

i agreed... in 2010, i was telling my friends, even with financial crisis in 2008-2009, property market only went down a little then continue uptrend. sure to burst in 2010.... but it didn't and keep on going up and up. i was proven wrong by Mr Market. Now, i just tell my friends that if they have a need for a place to stay, then buy what they can afford.... to wait for market to crash, we might not know when that will happens. :dunno:

 

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