In my opinion (which is shared by many others living here) buying something when you are going to stay just for 2 years is not really worth it. Prices are so high at the moment that they are unlikely to go higher in the short term. Rental contracts are for 2 years, which means that your rent is fixed for that period, but it also means that there are financial penalties if you want to leave sooner. So, it's important to choose the right apartment from the start.psyflyer wrote: At this stage I am going to eye at properties in close proximity to my job as I would prefer to walk to work (30 Raffles Place / Caltex House).
Questions: What are people's thoughts (yourselves) as to weather to buy or rent a condo in the area knowing that 2-3 yrs from after purchase you would be gone? Any thoughts on the current real estate market out there?
Secondly, I would appreciate any intel on the area such as if you know of a nice condo(s) (only really looking for very high-end if possible) in that neigboorhood.
I guess that to be able to save that amount on money on rent you would need to have the cash to buy the property outright and not have a mortgage, which would not be the case for most people. Depending on the size of your mortgage you can end up paying just as much in interest as if you were renting.humpbackwhale wrote: the person will not just save on a huge expense item ($50-$150k rent of 2 yrs) but turn it into a profitable investment.
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