My HDB Flat Broke New Million $ High! How Now?

[@tg988]

99 years leasehold unit that goes below 60 years before expiry date, difficult to sell as bank usually wouldn’t lend money to buyers. Buyers must buy with own cash money if they still want to purchase the unit. 1.Sell and buy a totally new freehold unit is viable option. 2.Sell and buy a dual-key unit together with children is a better option. A dual-key unit is a popular unit for two families where it has two-entrance doors, one big unit for the children and one small unit for the parents living side-by-side.

[@cashewdadify]

correction: owner occupied property is not an investment bec u buy it not to earn a rental income nor capital appreciation. It is a utility. Investment property allows one to earn money from rent and capital appreciation. true investment property will out perform equity investment over the long term if u further compound the rental returns into SPY.

[@6oct2006]

Based on what Mr Loo said, please kindly confirm that owning a Malaysian residential property does NOT count as one has already owned first residential property and therefore NO need to pay ABSD if buying another residential unit in Singapore. I thought ABSD is payable. Thanks

[@Blessed888-hj2cx]

Good evening Mr Loo, we same same EA in the east side, feel rich n blessed too, Thank God for it, Amen🙏

[@jeremysng4214]

I understand wat u said but actually you hv missed the boat. Pty investors hv made 500k to $1m by holding 4 years. Holding hdb is useless. The increment in yr hdb value will be offset by the accrued interests using yr cpf monies.

[@FoodieWarrior]

Property value went up, but property tax also went up. 😅

[@Farmersyoungseniors]

Sell and recognise the profit. Take the money and invest in your endowus S&P. Gain another 8-10% gains

[@1m65]

And I stay where?

[@jefflim7020]

@@1m65 Bto again 2nd time ? ;)

[@ypf7717]

I think don’t bank on a freehold property. Coz there r freehold properties out there that are depilated. Sell also nobody wanna buy coz the maintenance is just too expensive. Unless it is freehold landed. Otherwise condo En bloc also need to depend on developer. I think the crave for freehold condo properties not so good.

[@CatherineCarol]

Reaching debt free status very soon like in two years time only because we don’t want to pay off the house mortgage so soon. I rather keep a million in cash and enjoy the freedom like you said then to incur more loans buying a new property at 51.

[@mengtongfoo1104]

hard to say good or bad because many factors to consider like inflation, overseas purchase, salary purchasing power, downgrading or upgrading etc

[@twong6531]

I made 800k buying a private 99yr condo in 8 years...I am not sure what's the euphoria about HDB at 1 mio prices is all about...Look over the fence please.

[@nickng-jm1vk]

HDB had failed in bringing affordable housing to majority.

[@MS-ub9hb]

I only own one condo for personal stay. I felt like a loser when the property price go up because I have to pay more property tax. 😢

[@1m65]

Really?

[@musico3415]

True, if only has one property for own stay, then it is bad news to see property prices going up. You can't sell since you still need a place to stay and still have to pay higher property tax.

[@SWTAN-JEFFREY]

town area , EM is marketing at 1.5m already. Your jurong price is lagging due to out of town location

[@1m65]

Jurong East lah…. Cannot expect too much.

[@JEFFF-SWTAN]

@@1m65 yes, to buyers, jurong east also considered as out of central region OCR , hence, lagging effect

[@eddielim8702]

I used to live in Hdb then landed n finally condo. Honestly, Hdb n condo is totally different feels. I prefer to live in condo just doesn’t like the high maintenance fee.

[@1m65]

How much is your maintenance fee?

[@QQ63555]

My condo 11 yrs old on 350k sf well landscaped land. Three bedder unit pays $400/mth. I am very happy as its very well maintained too. Besides plenty useful and functional facilities, there are 14 free car washing bays with 6 taps, free multi storey & surface carparks, weekly mozzie fumigation, weekly pesticide treatment, 24/7 security & in-house technical service. Due to gov encourage Progressive Wage Model scheme for workers, our individual lobby is now mopped on alternate days instead of daily previously. I think my maintenance fee is definitely NOT expensive. Can hdb give me what I can enjoy in my estate? Actually I think hdb conservancy fee is not exactly cheap especially for the 5 rooms and bigger units and for those with cars.

[@Ace-bm3ys]

LETS BE TRUTHFUL. 1) THOSE that have property will wish their property price keep increasing. 2) THOSE that have property while got children will wish their property price keep increasing yet Kpkb on surface cause their children will suffer in future. 3) THOSE who yet to have a property are the ones making the most noise.

[@lpfong2538]

Mr. Loo you should be happy and thankful you're property prices are appreciating. Try to at least have one stable property in Singapore. Even though, you plan to retire in Malaysia. So you can often travel back to Singapore when you missed your family or relatives, old memories in Singapore. You may reget selling a property. As for me, l regreted selling my apartment in Penang when l decided to move and setle down in KL. After 10 years, l regret now prices in Penang appreciated around 40% to 50% after 10 years. Is difficult for me to purchase back my lost. I missed penang, my old school, the food there, like heaven, etc. So better don't sell you're property in Singapore, unless you're getting another one more smaller one or better one. Don't sell you're birth right😢.

[@1m65]

Agree!

[@liveisgreatlivenotdie9268]

I am quite sure if there are too foreigners living long term in Malaysia, the Malaysians will not want it and Malaysians will use political power to the change the government to one that will change the policies to that are favorable to Malaysians

[@lpfong2538]

@liveisgreatlivenotdie9268 There are 1.5 million Singaporeans who originated from Malaysia, e.g, grandfather, grandmother, etc. Your new PM on May father orginated from Ipoh. There are many Singaporeans who have converted and received Malaysian PR as they love Malaysia and enjoy the life here compared to a country when the government never change forever and 90% of the population will die without having a chance to own and drive a car or staying in a landed property, media also controlled by the government. Read the British News what they say about your country.

[@leejpeter3456]

​@@liveisgreatlivenotdie9268 Currently, there are over 1.5 millions foreigners living in Malaysia. I don't think the policies will change. Did your teacher in Singapore teach you that Singapore is a financial hub in the region like Hong Kong? Singaporeans need to travel and live around Southeast Asia, including Malaysia, Indonesia, and the Philippines. The Singapore government needs to develop collaborations with other countries for Singapore to continue to be successful; otherwise, Singapore will become another failed nation. I believe they have established collaborations with Johor state (JS-SEZ) in Malaysia, and later they might expand to Indonesia.

[@lpfong2538]

@liveisgreatlivenotdie9268 Currently, there are over 1.5 million foreigners in Malaysia. I don't think M'sia gov. will change the policy to get rid foreigners. Have u been taught in Singapore schools that Singapore is a financial hub or centre in this region, just like Hong Kong ? That's why Singaporeans need to travel freely and live around Southeast Asia, including Malaysia. Moreover, Singapore governments need to build collaborations and possible free trade zones between their neighbours, or it will FAIL....be a hopeless nation..

[@liveisgreatlivenotdie9268]

In Singapore you do not own anything. Everybody us a renter whether houses or cars. In Malaysia most properties are freehold ( Leasehold very few people want) and you can use your cars, which are cheap for 30-40 years ( until scrap la) You properties can still be owned by the third and fourth generations.

[@tedchandran]

Jai Hind. Holy Goh had said that if you pick up a stone and toss it high, it will quite likely to hit a Singaporean millionaire.

[@yokekngtan6500]

buy low, sell high, then buy a tree (from HDB) to live in/live at

[@millykeng698]

Property price going up is part of inflation as well. Everything has gone up in prices, chicken rice used to be only $2 10 years back! That’s y many believe property is a good asset as hedge against inflation.

[@1m65]

It is….

[@pearlyung]

700K, plus mortgage interest? Unless you want to refinance and get another loan.

[@nuzod]

what happened to your 1m65 telegram channel?

[@jeff6161]

Inflation = expansion of money supply = creation of more debt money which must be repaid with interest in the future = the need to create more debt money for people to earn in order to repay both principal and interest. The current fiat system will eventually fail as with all fiat currencies in the past. I will not be happy for the future generations. Ultimately it’s the availability real goods and services that matter.

[@sebastiantan2199]

U will have this mixed feeling as long as u have only 1 local property. My humble opinion.

[@choonsengteo9694]

Wow, total will be around 3 millions.

[@GerryKoh-j6m]

Don’t count your money yet cos you haven’t sell. You sell high, but also have to buy a replacement flat at high price unless u go buy bto

[@1m65]

Exactly what I said in my video

[@QQ63555]

5 yrs after children flown the coop, right sizing from hdb exec maisonette1600 sf to a comfortable fully paid up condo 1000sf was possible for me, with proper planning. Now the decade old 3 bedder condo unit is still too spacious for 2 active seniors. I shall be moving into a smaller 750sf unit in 2 yrs time. No mortgage again. Plan with the flow of property cycle! Unless for financial consideration, moving back to hdb will not happen for me. Condo living has its myriad of good factors, not atasness as Loo prefers to opine time and again.

[@poorpotato7623]

Mr Loo, don’t buy landed, need to keep cash to help your children afford their own homes.

[@ManoK54]

So high the price and makes it difficult to live simple.

[@edwinwee267]

😂😂😂 Ask your wife . She probably can tell you how you should react.

[@wuqs5458]

Downgrade the house if want to cash out. Old age don't need big house.

[@1m65]

Smaller house cannot fit my things

[@wuqs5458]

@@1m65 might need to learn one more skill, 断，舍，离。while getting older..

[@musico3415]

Once living in bigger house it will be hard to live in smaller space. So one solution is buy a big old resales hdb with balance least till you die.

[@choonsengteo9694]

No la, not many bother about such thing.

[@marthomaboy7246]

Freehold condo in st Michael road is very cheap

[@poorpotato7623]

Hdb cannot reverse mortgage

[@ritchiewantschange]

Hi Mr.Loo, in your shoes, wondering how to realize the current HDB flat value, I would consider right-sizing/down-sizing For example, buying a newly MOP(5years~ old) 4 room resale, so the kids still have somewhere to stay before they get married, and that the property can appreciate in value. When the kids all married and move out, then sell the 4 room hdb and buy a 2 room newly MOP resale HDB to meet the simple need of having a place to stay in SG, while also having that as an inheritance for the kids. With this strategy, you get to realise the value of your current hdb flat! (if 2 room HDB feels too small, can possibly get 3 room instead and knock down one room to form a larger living room) Alternatively right-size straight to a 2/3 room HDB after all the kids are married and moved out so you don’t have to keep moving but that would take some time What’s your take on this strategy?

[@1m65]

Probably not for me. Cannot move into smaller house

[@sghk7433]

I have the same thought. Am currently staying in EA. Nowadays hdb are small. ​@1m65

[@dorisheng9385]

I agreed, when one has lived in a good size big enough house.... one will not feel comfortable to downgrade to a smaller size, at least must be same size... is a kind of mindset and perspective unless willing to change that mindset else is difficult.

[@david888a]

No government housing like HDB should b worth $500K,let alone a million dollars, showed that the government’s affordable failed, its unaffordable for younger people wanting to buy a resale HDB flat . Those that bought $1M plus probably come from selling their landed.

[@chinchowpowpook]

No leh,,think is yourself have issue, could not catch up with current status

[@david888a]

@@chinchowpowpook wow, u know that I hav issue n not catching up to current status? Wonder what my issues r or my current status, can u enlighten me?

[@bryanlau3756]

Mr Lu pls wake up la. Those Hdb are jumbo Hdb or Masonette not 5 room Hdb la

[@chanfm1]

Congrats Mr Loo! What is there to be unhappy about? 😂

[@1m65]

Agree with you

[@choonsengteo9694]

Yours should be 1.5 million.

[@leeaaron7856]

Sell your HDB, use the $1M to buy 2 resale private properties (2BR and 1BR) with cash which you need to top up a little. Use both your wife and your name seperately for each property to avoid ABSD. Stay in one and the other rent out. Done.

[@margaretchong1450]

$1m to buy 2 private flats?

[@fool1124]

Let me guess you are a property agent

[@leeaaron7856]

@@fool1124 Would a prop agent suggest to buy properties in cash?

[@Notsosmartyetnotsostupid]

If you are married couple, you can only buy 1 resale flat even if you have decoupled. Unless he divorce his wife 😅

[@leeaaron7856]

@@margaretchong1450 it's tough thats why I suggest need to top a little. And got to scout around for resale units. Must be very open to living in anywhere in SG however.

[@christinapoon9875]

Sell n go stay in your JB bungalow?

[@Penaming]

dont think so much, just vote for PAP.

[@aplacecalltambun]

Sell tell us which fool pay u that . million

[@poorpotato7623]

Intergenerational cannibalism.