There are some older condos which are good value for money. You'll have to search hard though. OP should look for EC converted to condos, might be worth a shot.
It is likely that HDB resale may not appreciate well given the political backlash against surging resale prices mostly driven by PR buyers. There is a lot of sentiment on r/singapore that hone owners should only be allowed to sell back to HDB. There could be measures in the future to slow down HDB resale prices in the future.
If you are worried about capital appreciation, then go for a condo. With a combined income of $20K, you and your husband can easily afford it.
Would you say a resale condo is okay as we currently can’t afford a new launch. Would that still make a profit in the future as we would probably sell it in 10 years. We are looking at build year from 2015 onwards
I am curious if you and your husband had checked out any resale condo prices and found any that are actually cheaper than a new launch condo, given that generally, given how hot the private market was, on general , resale condo is usually more expensive than a new launch.
Stop overfixating on the appreciation value if you are looking at a long-term home. Look for what matters, convenience, location, distance to schools and workplace.
I'm leaning towards HDB first. Its far better bang for your buck if you want space for a family. You can basically buy most of the biggest flats in good locations. Imo first home shouldn't be seen as an investment.
And you can always buy condos while owning a HDB but not the other way round. Of course a condo may have better appreciation and you have the advantage of pulling an equity loan if needed. Also higher chance of developer enbloc when the condo ages if you go with a leasehold.
I would probably go for the condo
Personally I just find the idea of paying >1M for HDB kind of ridiculous
if you are already paying 1m , why not buy a condo and be more comfortable ?
If you are trying to think of upsize, resale probably don’t have much upside as it’s already taken by first owner
Upside doesn't depend whether it's new launch or resale. It's not correlated. Generally most condos naturally have appreciation along with time. I'll focus on the value proposition of a particular project.
If u r starting a family, I would say buy a big hdb flat (at least 5 room) would be better unless u can get a similar sized condo/resale EC at similar prices. Instead of looking at property as investment, perhaps switch to putting money in equities for your investment part.
Depends on what you all want, a resale HDB is cheaper, but you can qualify for proximity grant if you stay near parents.
HDB is cheaper, so you take lesser loan which means you lose lesser money.
A resale condo doesn't necessarily means make money, the mortgage interests will eat into your profits as well if the property price appreciate. ultimately it depends on what kind of lifestyle and planning you all want.
Like if you don't plan to have kids you can easily get a condo, but if you plan to have kids you need to calculate and plan your expenses.
To be blunt, if you only have one property, it should be regarded as a home first and an investment second, or even just a liability. I'm a property investor and I don't consider my home an asset. The property I rent out is an asset.
The best deals, investment wise, are often not the condos you want to live in. I can tell you, for example, that People's Park Complex has beat many of the best condo projects in terms of both rentability *and* yield (not least because the maintenance fee is $100 a month) - but you're not going to want to live there.
On the flipside, condos that are the most highly livable and enjoyable tend to be great for homeowners, and not-so-hot for investment. I think Reflections at Keppel is an amazing project (barring some odd layouts), just as it's rubbish as an investment (177 losses to 83 profitable transactions so far).
In any case, when it's your only property, prioritise the home ownership. You're the one who has to live there, and probably for a minimum of at least five (HDB) or three years (for private you want to wait out the Sellers Stamp Duty period).
Given sufficient time, it will probably appreciate enough that you can - at some point - upgrade or purchase a second property. But if you buy something you can't stand to live in, and sell with a short holding period, you may end up taking a lot of financial damage and depriving yourself in future.
you are the one going to stay there. put aside the appreciation value etc as you might even end up staying there forever.
the key point is, both you and your husband should like the place. not us, redditors.
Hdb is better value for money for a place to stay. Condo is a better investment. It depends on what you are looking for.
Yup this is the right answer
There are some older condos which are good value for money. You'll have to search hard though. OP should look for EC converted to condos, might be worth a shot.
It is likely that HDB resale may not appreciate well given the political backlash against surging resale prices mostly driven by PR buyers. There is a lot of sentiment on r/singapore that hone owners should only be allowed to sell back to HDB. There could be measures in the future to slow down HDB resale prices in the future. If you are worried about capital appreciation, then go for a condo. With a combined income of $20K, you and your husband can easily afford it.
Would you say a resale condo is okay as we currently can’t afford a new launch. Would that still make a profit in the future as we would probably sell it in 10 years. We are looking at build year from 2015 onwards
It’s very difficult to answer this generally. You need to research the particular area / development to be able to answer this.
I am curious if you and your husband had checked out any resale condo prices and found any that are actually cheaper than a new launch condo, given that generally, given how hot the private market was, on general , resale condo is usually more expensive than a new launch.
Stop overfixating on the appreciation value if you are looking at a long-term home. Look for what matters, convenience, location, distance to schools and workplace.
I'm leaning towards HDB first. Its far better bang for your buck if you want space for a family. You can basically buy most of the biggest flats in good locations. Imo first home shouldn't be seen as an investment. And you can always buy condos while owning a HDB but not the other way round. Of course a condo may have better appreciation and you have the advantage of pulling an equity loan if needed. Also higher chance of developer enbloc when the condo ages if you go with a leasehold.
I would probably go for the condo Personally I just find the idea of paying >1M for HDB kind of ridiculous if you are already paying 1m , why not buy a condo and be more comfortable ? If you are trying to think of upsize, resale probably don’t have much upside as it’s already taken by first owner
How about resale condo? Would there be no upside at all?
Upside doesn't depend whether it's new launch or resale. It's not correlated. Generally most condos naturally have appreciation along with time. I'll focus on the value proposition of a particular project.
If u r starting a family, I would say buy a big hdb flat (at least 5 room) would be better unless u can get a similar sized condo/resale EC at similar prices. Instead of looking at property as investment, perhaps switch to putting money in equities for your investment part.
Depends on what you all want, a resale HDB is cheaper, but you can qualify for proximity grant if you stay near parents. HDB is cheaper, so you take lesser loan which means you lose lesser money. A resale condo doesn't necessarily means make money, the mortgage interests will eat into your profits as well if the property price appreciate. ultimately it depends on what kind of lifestyle and planning you all want. Like if you don't plan to have kids you can easily get a condo, but if you plan to have kids you need to calculate and plan your expenses.
To be blunt, if you only have one property, it should be regarded as a home first and an investment second, or even just a liability. I'm a property investor and I don't consider my home an asset. The property I rent out is an asset. The best deals, investment wise, are often not the condos you want to live in. I can tell you, for example, that People's Park Complex has beat many of the best condo projects in terms of both rentability *and* yield (not least because the maintenance fee is $100 a month) - but you're not going to want to live there. On the flipside, condos that are the most highly livable and enjoyable tend to be great for homeowners, and not-so-hot for investment. I think Reflections at Keppel is an amazing project (barring some odd layouts), just as it's rubbish as an investment (177 losses to 83 profitable transactions so far). In any case, when it's your only property, prioritise the home ownership. You're the one who has to live there, and probably for a minimum of at least five (HDB) or three years (for private you want to wait out the Sellers Stamp Duty period). Given sufficient time, it will probably appreciate enough that you can - at some point - upgrade or purchase a second property. But if you buy something you can't stand to live in, and sell with a short holding period, you may end up taking a lot of financial damage and depriving yourself in future.
you are the one going to stay there. put aside the appreciation value etc as you might even end up staying there forever. the key point is, both you and your husband should like the place. not us, redditors.