Advice

We Are 28 And Have $1.2 Million In Cash: As First-Time Homeowners Should We Buy A Resale HDB First, Condo, Or Landed?

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Jared Foo

Recognized for his warm and approachable demeanour, Jared prioritises establishing trust and fostering genuine connections with his clients. Drawing from his background in the automotive and airline industries, he brings a passion for creating memorable experiences in every interaction. Jared’s authenticity and dedication set him apart, as he believes that real estate is more than just transactions—it’s about cultivating meaningful relationships and positively impacting his clients’ lives.

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David
David
6 months ago

Irrelevant post for everyone alive, except that couple.

M L
M L
6 months ago

Hi how do I contact you for this kind of analysis

Spitfire
Spitfire
6 months ago

With your level of monthly income & cash, I’d buy a FH/999-yr Landed property in the suburbs (lower PSF compared to condos everywhere). Age is on your side, meaning you’re able to take on more risk.

Good land ( Freehold / 999-yr, not strata title ) is getting scarcer in Singapore, and will only continue to appreciate over the long run AND outperform condos & apartments, in terms of Net ROI. Even if we enter a property market downturn, Landed Property will generally depreciate at a slower pace than condos, which quite honestly, there is plenty of supply of. Cooling measures will be rolled back if things get bad.

In comparison to your situation, we could only afford to buy a landed property in District 28 at age 34, some 17 years ago in 2007. It was the best decision ever. Mid-2022, we sold the house for slightly more than 3x its purchase price, for a profit of 213%. This enabled us to upgrade to a 2.5 storey semi-detached house within the same estate, again within a reasonable PSF below $1300 (2022 prices).

Our decision to upgrade was 3-fold. Firstly, there was an opportunity to upgrade our quality of life by moving to a quieter part of the estate, where the houses are further apart, the roads are wider & no parking issues, which are common in landed estates.

Secondly, when we retire eventually, we would have a much bigger base to deal with ( 1780 vs 3800 sq ft land ) when it’s time to right size.

Thirdly, to increase our inflation hedging ability leading up to retirement in the next 10 years. Honestly, there is only so much you’d want to invest & risk with Stocks & Bonds.

In this era of high inflation, which i expect to get even worse over the years, a high quality asset with LIMITED SUPPLY will always have a scarcity premium attached to it, and continue to appreciate in value over the years. Freehold / 999-year Landed Property in Singapore is the way to go for outperformance in wealth creation, wealth preservation and wealth transfer to future generations.

From a cost & maintenance perspective, my experience over 37 years growing up in, then owning landed property, is that it is cheaper than paying condo conservancy fees.

In conclusion, I can only say that the longer you put off buying a FH/ 999- yr landed property in Singapore, if you can afford it now,

the more difficult it would be to own one in the future. Most people are already priced out of this segment of the market.

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