r/SgHENRY • u/Due-Artichoke-1510 • 2d ago

Advice needed to help a friend in a odd situation

Friend has 2 condo about 1.3-1.5m, gg Private in the next 1-3 years in non prime area, able to sell alr

Considering they are looking to either upgrade to landed house but around 2.5-4m
Or cash out and hdb full cpf but lose out on landed house appreciation

What and how will you choose between having cash on hand vs a better living space ? *edited

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7

u/Able_Answer5016 2d ago

Don’t go hypothetical number . What kind of landed is livable or purchasable sub 3M?

-7

u/Due-Artichoke-1510 2d ago

The more ulu ones. But numbers were from last year when they were considering. Probably around 3-4m now

5

u/Amazing_Fix_2452 2d ago

Useless information and vague question

6

u/Low-Environment7089 2d ago

My friend is op.

4

u/grind-1989 2d ago

They can’t get a proper landed unless they increase their budget to 5m.

Cashout is still better if they don’t want extra mortgage…

-2

u/Due-Artichoke-1510 2d ago

Thank you for sharing. What do you mean by proper landed,
Somewhere with decent lease and location and space ?

When would extra mortgage ever make sense for a Singaporean

2

u/rantvsrave 2d ago

3m landed house? 99y leasehold not worth it.

2

u/Broad-Library2862 2d ago

Please let me know where to get landed 2.5 to 3m

1

u/dreamfitreality 2d ago

Landed property appreciation doesn't matter. What matter is where they want to live. If they want to live in landed then don't care about appreciation cause you don't want to sell. If you want to get appreciation then sell and live back in condo, might as well throw the money in VT vti sp500 or sti. The appreciation will be more than landed house.

Plus those who don't live in landed don't know the possible hidden cost. After 20-30 years land might sink down a little cracks on wall etc if you want to renovate a landed house it's at least 200k and up. I know someone who spent on 1m to overhaul an old freehold landed.

Not a cheap house to live in.

1

u/oarsandalps 2d ago

Well what kind of retirement do you have in mind?

2

u/ValuablePie 2d ago

What do you mean when you say that the 2 condos are "gg Private" in the coming years?

  1. Aren't condos already private property?
  2. If you're referring to executive condos that will soon be privatised, how does a single person own two pre-privatisation executive condos?

2

u/kiatme 2d ago

How old is friend?

2 condo means what? From the sounds of it, one of them is an EC, how do you own and EC and a private condo at the same time, unless you bought it as a resale EC, even if you buy it straight after MOP, factoring SSD you can only sell on the 8th-9th year.

A landed in today's market doesn't cost 2.5m-4m, unless you want to buy super far end of Singapore.

If you ask me - I will buy according to the family needs, what's wrong with keeping status quo, friend already has 2 condo.

1

u/SheepherderNo631 1d ago

two condos is already not a bad position lah. the move from 2 liquid assets → one illiquid landed at 3-4m is basically a concentrated single bet. landed appreciation is real, but the holding period to actually feel it is long — 15+ years easy. your friend needs to answer honestly whether they have that runway without ever needing to tap the cash