Cash out by selling off my HDB flat.
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how much u bought your flat and how much are you selling?
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Originally posted by Rooney9:
how much u bought your flat and how much are you selling?
Mine is a 5 room flat point blk 2nd flr
bought it at $275K, 5 years ago in its original condition; renovated $50K
Not quite sure how it can fetch now...
Perhaps $450K to $500K ?
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sell if you can fetch 600k
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Point Block, five rooms going at $500K, I think its a steal.
The only thing against the getting a much higher price is the second floor. Unless the block is also next to something undesirable. Otherwise you have a good asset there.
You could downgrade and have some extra cash for your business venture after all. Do your calculations very carefully.
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In like 5 years time, I think any property in spore would be priceless. Don't bet on the bubble burst - places like London, Hong Kong, Tokyo and New York, they all share the same similarity, high density, high class place, good location, high demand, hip and trendy and no more empty land for development. For years these places face property bubble burst, yet their property values haven't plummetted at all. Its the same for high density and trendy singapore. 6 million people and still counting, don't expect demand to go down - that is for sure.
So I think it is a bad idea to sell yer HDB flat to raise capital for yer biz. Is there some other alternative? Liike bank loan? Maybe you should start saving while working or start yer biz small.
If you sell yer HDB flat, and things didn't work out for yer biz, you may have just blown off your best investment.
Perhaps in 5 -15 yrs time, there wuld be no more land available for anymore HDB development, so keep yer property because its valuable.
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When hdb flat prices reach 1 million dollars per flat, will we have enough money to buy food to eat ?
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But in the meantime, times are bad...
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Originally posted by mancha:
Point Block, five rooms going at $500K, I think its a steal.
The only thing against the getting a much higher price is the second floor. Unless the block is also next to something undesirable. Otherwise you have a good asset there.
You could downgrade and have some extra cash for your business venture after all. Do your calculations very carefully.
I have said in my previous posting that I will not live here without having a property to hold... that's definitely not going to happen. Yes the most likely scenario will be downgrading to 3 room flat maybe in a very ulu part of the island so that I can get it at the cheapest possible price...
Thank goodness I decided to post this here and the info I am getting is priceless, thank you so much... -
Originally posted by kifjab:
I have said in my previous posting that I will not live here without having a property to hold... that's definitely not going to happen. Yes the most likely scenario will be downgrading to 3 room flat maybe in a very ulu part of the island so that I can get it at the cheapest possible price...
Thank goodness I decided to post this here and the info I am getting is priceless, thank you so much...
What happen to you, people go for landed property and condo, you go for 3 room, too much casinoing? -
Originally posted by angel7030:
What happen to you, people go for landed property and condo, you go for 3 room, too much casinoing?Times are bad.
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More good years ahead
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Originally posted by angel7030:
What happen to you, people go for landed property and condo, you go for 3 room, too much casinoing?Read the first page lah.
He want cash his 5room HDB flat for money to start his own business.
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what if the market doesnt crash and prices remain or go higher?
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Originally posted by dragg:
what if the market doesnt crash and prices remain or go higher?
u think so? be vigilant and fearful when market increases cos crashing is not too far away.
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Originally posted by Rooney9:
u think so? be vigilant and fearful when market increases cos crashing is not too far away.
as far as the TS is concerned one of the main problem would be the market not crashing.
even if it do crash. when? 1 yr, 2 yrs or 5 yrs later? thats a lot of difference.
nobody can say for sure right?
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Originally posted by dragg:
as far as the TS is concerned one of the main problem would be the market not crashing.
even if it do crash. when? 1 yr, 2 yrs or 5 yrs later? thats a lot of difference.
nobody can say for sure right?
Check the link that predicting the property bubbles in Singapore..
http://www.youtube.com/watch?v=dPd7VtVjmpg&feature=results_video&playnext=1&list=PL878A7E7D38206DEC
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Originally posted by kifjab:
Check the link that predicting the property bubbles in Singapore..
http://www.youtube.com/watch?v=dPd7VtVjmpg&feature=results_video&playnext=1&list=PL878A7E7D38206DEC
everybody knows what goes up must come down.
but then the issue is when.
if the bubble burst 5 years later you'll incur more rentals.
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By selling your access property or asset to start a business is ok, but you are telling me he is selling his house to do business? that is the most stupidity risk I ever heard of, does he knows about bank loan? Unless he is going to do some stupid illegal business, go talk to those bankers, give your proposal, the banks can even give you sound advices to tap on govt fund on SME start up and loan you the money. Smart people do business using other peoples strength and money, not using oneself house, and worst, the only house he have.
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He's upgrading to beachfront property.
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oh, that one you need to book thru AXS one
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Yes... my original idea was to sell and stay in a rental apartment just because of not wanting to be stuck with an overpriced property...
But my latest post is ... I am not going to do that because the risk is too high for me to take...
Yes I get loan and other stuff... but I start planning with the possibility of not having to incur any debt to start a business when clearly I have another alternative to do so... as in selling off my flat and move into a smaller one, since I am holding down a property which has appreciated about $300K... and yes I will definitely want to tap into any government grants if I am eligible...
Thank you all the same for giving more and more perspective over this issue... I truly appreciate the attention here so far .. :)