July 26, 2021

15 thoughts on “Regret Not Buying a Freehold Landed Property 10 years Ago!

  1. The best time to buy was 10 yrs ago, the next best time to buy is now, I bought mine at chatwell drive for some 4m, i rebuild it.
    If u dont buy now, then u will regret again 10 yrs later.
    so in this matter, better dont be late, Better late than never is a no no.

    1. Hi, I agree w u. And Serangoon garden is definitely one of my favourite places for my home, if I can afford it!

    2. It is indeed, new MRT lines also coming up not too far. Very good residential area where I go for Long walks. Chomp chomp and many good eateries! The attractions are there
      Best wishes!!

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  2. I think the property price can only keep rising if continued immigration. A lot of it!

    Google for 'Singapore TFR'

  3. I did the sums when I was in my mid 40s on the pros and cons of concentrating our wealth on a landed versus splitting it over two smaller properties – one for staying and one to generate rental income. Of course, one would not need to do this exercise, if you have sufficient funds to buy a landed home and still have enough money to invest for income.

    Needless to say, we settled for two properties. One 4 bedroom condo for staying and one 3 bedroom condo for rental income generation.

    Now that we nearing 60, we are happy that we didnt go for the landed property because we cannot imagine maintaining the house, climbing up and down stairs etc.. And to think that it doesnt generate income for us for all this while. To tap its value, one would have to sell the house as did a few of my neighbours who downgraded from their homes to move into our condo.

    Staying in a condo also has other benefits such as having the convenience of the facilities at your doorstep. Facilities that we used frequently were the tennis courts, swimming pools, gym and basketball.

    Also as we near retirement and in retirement, income (passive) becomes a dominant consideration. In our current situation we do not need to downgrade, as we have passive income from rental, dividend and CPF. Had we bought the landed house, we would be considering seriously selling it off to tap its value for retirement sustenance.

    And finally the million dollar question : who would be financially better off ? One who spent $3M on a landed home or one who split the $3M to purchase two condos?

    To answer this, I do have a colleague who bought a landed home at about the time we bought our condos. At last check, I think we are better off in terms of total networth and yet have a passive income of close to $200,000 a year.

    I know my colleague does not have much passive income because much of his networth is tied up to his landed property.

    Read Robert Kiyosaki's book (Rich Dad, Poor Dad) to understand how he classify asset and liabilities.

    1. Agree with your observation and kudos for investing savvily in instruments that generated this. However, I am fairly certain that the rentals from your condo were only minor contributors to the 200000 yearly passive income you get
      Am I right? Congratulations and thanks for motivating younger folks here 🙏🏼

    2. i recognise that the choice of the house you live in is an expense (because you could always live in a cheaper place and invest the difference, be it another property or other assets).

      However, if you are sure at some point in your life you do want to stop defering that luxury of an expensive home, then the question is if one should do it 10 years ago, right now or 10 years later.

      and i guess that comes down to 2 factors: 1. how well your investments are doing vs how fast your eventual “lux home price” is climbing. and 2. how much enjoyment or intangible experiences you might be losing if you by pushing back your purchase 10 years.

      For example, if you wanted a garden or condo facilities for your kids to grow up in, or for the grandparents to live in the same house so that the kids will know them better. 10 years later may be too late.

      and of course, if you already can afford you lux home option as an expense then no harm jumping in!

    3. i recognise that the choice of the house you live in is an expense (because you could always live in a cheaper place and invest the difference, be it another property or other assets).

      However, if you are sure at some point in your life you do want to stop defering that luxury of an expensive home, then the question is if one should do it 10 years ago, right now or 10 years later.

      and i guess that comes down to 2 factors: 1. how well your investments are doing vs how fast your eventual “lux home price” is climbing. and 2. how much enjoyment or intangible experiences you might be losing if you by pushing back your purchase 10 years.

      For example, if you wanted a garden or condo facilities for your kids to grow up in, or for the grandparents to live in the same house so that the kids will know them better. 10 years later may be too late.

      and of course, if you already can afford you lux home option as an expense then no harm jumping in!

    4. i recognise that the choice of the house you live in is an expense (because you could always live in a cheaper place and invest the difference, be it another property or other assets).

      However, if you are sure at some point in your life you do want to stop defering that luxury of an expensive home, then the question is if one should do it 10 years ago, right now or 10 years later.

      and i guess that comes down to 2 factors: 1. how well your investments are doing vs how fast your eventual “lux home price” is climbing. and 2. how much enjoyment or intangible experiences you might be losing if you by pushing back your purchase 10 years.

      For example, if you wanted a garden or condo facilities for your kids to grow up in, or for the grandparents to live in the same house so that the kids will know them better. 10 years later may be too late.

      and of course, if you already can afford you lux home option as an expense then no harm jumping in!

    5. Hi, thanks for commenting. Yes, condo and landed have their pros and cons. For me it is becos of bigger family needing space n not solely for monetary reason or investment reason. I m grateful for staying in condo with facilities n my kids enjoyed that.

    1. Wow, the two recent times SG prop dropped is probably in 1998 after AFC, but prices rose quickly n higher in 1999. Likewise in 2009 after GFC, but in 2010 n later prices rose again steeply upwards.

      I doubt ur dad's semid depreciate in value until today if he bought in late nineties?

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