Condo Investment

With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.

Condo Investment

Postby TheAnswer » Tue Jul 02, 2013 9:48 pm

What should we look out for if we are looking to purchase a new condo to rent out? Any particular locations?

Where are the available showrooms now?

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Re: Condo Investment

Postby Nebbermind » Wed Jul 03, 2013 8:25 am

Who would be your target tenants?

In some condo, you can tell the community by the smell of their cooking..... :shrug:

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Re: Condo Investment

Postby TheAnswer » Wed Jul 03, 2013 9:01 am

Nebbermind wrote:Who would be your target tenants?

In some condo, you can tell the community by the smell of their cooking..... :shrug:


Foreign students and Foreign talent..

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Re: Condo Investment

Postby Coolkidsrock2 » Wed Jul 03, 2013 12:57 pm

Depends on the nationality and nature of work of the foreign talent.

Tanjong Rhu/Meyer Road is popular with those in finance - there are private buses that go straight into Suntec and Raffles place
Alexandra area (eg Interlace, Reflections, Carribean) is also popular as there are a fair number of MNCs there
Bukit Timah

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Re: Condo Investment

Postby TheAnswer » Wed Jul 03, 2013 1:05 pm

We prefer new condos..New launches... Haven't had the chance to browse through the newspapers yet..
Do foreign talent actually take buses? I thought they drive :?

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Re: Condo Investment

Postby MMM » Wed Jul 03, 2013 1:22 pm

TheAnswer wrote:Do foreign talent actually take buses? I thought they drive :?


So far, the FT colleagues I've don't drive due to cost of owning a car in Singapore. It doesn't make economic sense. Gone are the days where one is being provided a car even for very senior levels. Company these days usually give a car allowance instead. Which makes sense given the high price of car in Singapore.

Through my observation, those who are likely to drive are those with family here.

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Re: Condo Investment

Postby Coolkidsrock2 » Wed Jul 03, 2013 1:31 pm

The private buses are really convenient and seats are guaranteed. The journey is conducive for socialising or reading. Very pleasant journey.

Some of them will drive only when sending kids to school and on weekend.

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Re: Condo Investment

Postby hquek » Wed Jul 03, 2013 1:37 pm

Just be careful if and when you eventually get your unit and rent it out. Someone I know thought she rented it to a single FT. One day she happened to go to visit her unit a few FTs from other nationalities staying in there - her tenant was nowhere to be found.

It's dreamy to think that there will be no issue renting it out and collecting money. I know of people who rent units from owners and then sublets these out room by room (and in some cases these could be by weeks). Worse is when I hear of some (not all, I'm not that well informed) of such people NOT paying the owners on time although their subtenants had faithfully paid up. Also, couple of cases I have seen where the owners finally repo their units only to find that their units are left in not good conditions (due to setting up and taking down of partitions, overcrowding issues).

In all, jump in - either keep your eyes wide open; else close both eyes and prepare for any bad news that may follow.

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Re: Condo Investment

Postby cherrygal » Wed Jul 03, 2013 1:44 pm

I will buy new to live in and rent out the old one. Not so sayang.

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Re: Condo Investment

Postby MMM » Wed Jul 03, 2013 1:52 pm

hquek wrote:Just be careful if and when you eventually get your unit and rent it out. Someone I know thought she rented it to a single FT. One day she happened to go to visit her unit a few FTs from other nationalities staying in there - her tenant was nowhere to be found.

It's dreamy to think that there will be no issue renting it out and collecting money. I know of people who rent units from owners and then sublets these out room by room (and in some cases these could be by weeks). Worse is when I hear of some (not all, I'm not that well informed) of such people NOT paying the owners on time although their subtenants had faithfully paid up. Also, couple of cases I have seen where the owners finally repo their units only to find that their units are left in not good conditions (due to setting up and taking down of partitions, overcrowding issues).

In all, jump in - either keep your eyes wide open; else close both eyes and prepare for any bad news that may follow.


Hquek,

Reminds me of the paya lebar crescent case. Rental is not a bed of roses. If we meet good tenants, we should count out blessing and pray that they continue with us. On our part, we also try to be good landlord.

Also heard alot of stories from landlord/ agents, etc... (not trying to discriminate here) but some FTs of certain nationality can be notorious and should be avoided... you cannot recognise your house when you return.

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