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Hi All,
I am planning to buy a HDB/ Condo. Here is my initial
analysis :
1. Plan to buy a house if you want to stay in Singapore for more
than 5 years.
2. Find a reliable agent [through network of friends and their past
expereince ]
3. One needs atleast 65000 to 85000 cash in hand [ valued at current
rates of cash-on-valuation, agent commision, lawyer fees and demand
and bank loan rules and cash on valuation ] to meet the inital cash
requirements.
4. Find a good house [HDB or Condo ] is the first hurdle and
followed by reliable agent and trustworthy seller.
5. House prices as well as rents are sure go high in coming couple
of years as Singapore goes to F1 and casino and theme park era.
6. Salaries are not increasing as rents and house prices do.
7. A PR has to plan to buy one by the time he gets into 3rd year of
PR-ship. [as one third of his wage goes to CPF so he can no more
think of contributing to rent besides CPF ]
8. Some sellers are not willing to sell to Indians.
9. Keep ur credit rating good to get good loans easily.
10. Paying all bills [sp, mobile, rental [JTC], credit cards]
ontime contribute to high credit rating.
11. the entire process takes 4-12 months.
12. Incase of any limited tenture dont buy any house which is older
than 10 years.
13. If you can afford buy a freehold tenture condo.
14. Certain areas, indians dont qualify to buy any. [like Yishun ]
15. HDBs are now at 170000 to 380000 to 550000 depending upon the
location, rooms area etc.
16 Condos are priced over 500000 and above almost striking 1 million
most areas.
17. go for condos/hdbs that are ought to be enblocked, again price
is that matters.
18. PRs, becareful and dont buy for lift upgradtion required HDBs. U
will be dumped heavily for it.
19. Dont go for very big houses as maitaining it will be a bodyache
for u and it will become weekend job for u, hehe…
20. Buying a house in singapore is more like an investment. You need
to plan for selling it.
21. I am not sure how easy it to sell [ atleast for indians ]
22. the demand will be definetely low, as other races may not be
interested to buy a HDB that was occupied by us, so be careful, I am
also not sure so please sometime about this kind of experiences if
any.
23. I know 1 good agent he is very reliable he did helped 2 of
coleagues to get HDBs and now I am dealing with him. he is indian
and very reliable man. If anyone need info contact me at
aaneelu@gmail.com.
24. So selling a house when u plan to return to india may a problem
as I heard from many US settled indians face when they plan to move
to india.
25. Saving money for CASH part of the deal is the first step u shud
start with.
All comments are accepted. Someone can write on experiences of
selling house.
Anil
— In ezlink@yahoogroups.com, PURUSHOTHAMAN VIJAYALAKSHMI
wrote:
>
> Hi Sakthivel,
>
> It is true what you have highlighted.
common man
> living also, costs high rent and advances.
> Need an advise from you.
> To buy a house how much money you need to have in your CPF for a
PR
> holder, while buying a house in Singapore.
> At the sametime does the bank pay you 100% of the amount what we
are
> going to pay the seller?
> And how about this hand cash still manageable with personal loan?
> Is it compulsory to pat this hand cash? Is it accountable?
> Please advise.I need your valubale suggestion.
> Could u please recommend me your agent to me.
> I am also looking for a house in Jurong West, Bukit Batok and
Chua Choa Kang to buy.
> Please reply.
> Regards,
> Ramesh
>
>
> akthivel wrote:
> Hi All,
>
> My personal opinion is buying a house is better than paying rent
if you plan to stay in singapore for 5 years or more. Because you
are not going to get anything back for paying your rent. if you get
50% return on what you pay monthly for the house you bought is going
to be profit for you. This applies only if you stay 5 years or more
in that house.
>
> Recently I bought a house. Based on my personal experience its all
depends on the agent who deals with you. There are very few agents
who openly tells the buyer that the price above valuation asked by
the owner is high and they also suggest what are things needs to be
done before moving into house and how much it cost you. But its hard
to find such agents.
>
>
> aneeta1972 wrote:
> Hi All,
>
> I consider there are plenty of people who must have already bought
the
> house due to heavy rentals and few must be looking forward to buy.
>
> As finding Direct Seller is a very difficult thing and Agents will
try
> to bluff you around too much and will instigate you for quick
decisions.
>
> I would certainly appreciate if all can share their views here
with
looking
> for buying house here.
>
> Many thanks in advance.
>
> Advices.
>
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>
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