Mummy Jennifer's Hatch

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Jennifer
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Re: Mummy Jennifer's Hatch

Post by Jennifer » Tue Apr 14, 2015 3:42 pm

TheAnswer wrote:
Jennifer wrote:Rum n raisins is still the best flavour for me :rahrah:
The one from Anderson ice cream?
Not Anderson. HD.
TheAnswer wrote: Check with you, how old is your hubby? Might be a little hard to get 80% loan. They calculate 65-age= years of loan
He is 1967, so 48 this birthday.

There is this TDSR. I read that must submit income tax records, credit cards statements and other loan commitments.

Even re-financing existing loans also must satisfy TDSR.

TheAnswer
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Re: Mummy Jennifer's Hatch

Post by TheAnswer » Tue Apr 14, 2015 5:41 pm

Yes. Currently 8 cooling measures in place. From what I understand TSDR will stay while the others will be lifted (according to newspaper articles). When the 7 measures are removed, foreign investors should be coming into the market, prices should rise again. Now if u look at the condo market, prices are lower. Maybe situation will maintain for this year. Things might change after elections. We shall see. Dun forget cooling measures can be an election strategy.

Currently, if we are buying 2nd property. Need to cough out 350K cash/CPF if u r getting 1.2M property.

TheAnswer
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Re: Mummy Jennifer's Hatch

Post by TheAnswer » Tue Apr 14, 2015 5:52 pm

Jennifer wrote:
TheAnswer wrote:
Jennifer wrote:Rum n raisins is still the best flavour for me :rahrah:
The one from Anderson ice cream?
Not Anderson. HD.
TheAnswer wrote: Check with you, how old is your hubby? Might be a little hard to get 80% loan. They calculate 65-age= years of loan
He is 1967, so 48 this birthday.

There is this TDSR. I read that must submit income tax records, credit cards statements and other loan commitments.

Even re-financing existing loans also must satisfy TDSR.
Any existing loans now? Condo and car fully paid? Will u sell your property to finance it? If u sell your condo, I think no problem but must think of retirement. Ideally 2 properties, 1 to rent, 1 to stay.
Alternatively, if got monthly income of 10K also can get around 1M loan.

Funz
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Re: Mummy Jennifer's Hatch

Post by Funz » Tue Apr 14, 2015 6:28 pm

We are waiting for the some of the cooling measures to lift and we will be selling our rental properties.

DH still dreams of a landed property. He says to hold the money from those sale and keep a lookout for a good deal. Then move into landed, and rent out current place. I am not so keen. At this stage I would rather not incur anymore debts, which we may if we go for landed.

TheAnswer
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Re: Mummy Jennifer's Hatch

Post by TheAnswer » Tue Apr 14, 2015 6:35 pm

Funz wrote:We are waiting for the some of the cooling measures to lift and we will be selling our rental properties.

DH still dreams of a landed property. He says to hold the money from those sale and keep a lookout for a good deal. Then move into landed, and rent out current place. I am not so keen. At this stage I would rather not incur anymore debts, which we may if we go for landed.
I am curious to know why people are selling their property since cooling measures are in place. Any insights?

Do u mind sharing the rough locations of your rental properties? How to attract tenants?


starlight1968sg
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Re: Mummy Jennifer's Hatch

Post by starlight1968sg » Tue Apr 14, 2015 6:35 pm

Sorry Jennifer and Funz for interrupting.
Are the prices of condo heading south? There could be a slight dip as compared to some years ago but now still pretty hard and easily exceeding 1mil even for a small unit.

TheAnswer
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Re: Mummy Jennifer's Hatch

Post by TheAnswer » Tue Apr 14, 2015 6:37 pm

Outskirts can get for less than 1M. Seng kang, Punggol area less than 1 M I think. Woodlands to Town. Rocket prices as usual.

starlight1968sg
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Re: Mummy Jennifer's Hatch

Post by starlight1968sg » Tue Apr 14, 2015 6:39 pm

TheAnswer wrote:Outskirts can get for less than 1M. Seng kang, Punggol area less than 1 M I think. Woodlands to Town. Rocket prices as usual.
But must be near to MRT stations, right?

TheAnswer
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Re: Mummy Jennifer's Hatch

Post by TheAnswer » Tue Apr 14, 2015 6:41 pm

starlight1968sg wrote:
TheAnswer wrote:Outskirts can get for less than 1M. Seng kang, Punggol area less than 1 M I think. Woodlands to Town. Rocket prices as usual.
But must be near to MRT stations, right?
Nearer more ex. But if so far then u need car most of the time. More troublesome. Smaller market of ppl to sell to in future as well. Cannot appreciate as much.

Funz
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Re: Mummy Jennifer's Hatch

Post by Funz » Tue Apr 14, 2015 6:55 pm

TheAnswer wrote:
Funz wrote:We are waiting for the some of the cooling measures to lift and we will be selling our rental properties.

DH still dreams of a landed property. He says to hold the money from those sale and keep a lookout for a good deal. Then move into landed, and rent out current place. I am not so keen. At this stage I would rather not incur anymore debts, which we may if we go for landed.
I am curious to know why people are selling their property since cooling measures are in place. Any insights?

Do u mind sharing the rough locations of your rental properties? How to attract tenants?
Central. My agent markets to overseas clients. I leave it to him.

I am not sure. Could be that they are worried that the market may dip further and with the rising interest rates, they may have problems financing them. Or they may find that the rental yield may not be attractive enough. They could have bought their properties at really low prices and are already making a tidy sum so sell, hold cash, wait for market to dip further then re-enter.

Once the measures are lifted, there may be an up-turn so may not be a buyer's market.

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