Rent of Buy??

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turtle_man

Rent of Buy??

Post by turtle_man » Tue, 09 Nov 2004 6:55 am

Just wanted to hear your general thoughts on this. I've been hearing that Singapore is experiencing an all time low in terms of real estate costs. Having said that, if I'm looking to work in Singapore for the next 5+ years, would you say it's a safe bet to buy a condo as opposed to renting one?

Second question. Would I be better off putting a huge down payment down (i.e. 50% of the value) or putting less down and using the extra cash to purchase an investment property?

Your thoughts would be appreciated!!

Singapore Property Search

 

Guest

Post by Guest » Tue, 09 Nov 2004 12:45 pm

Cons of buying:
stamp duty and legal fees
at least 20% down
you'll have to pay for conservacy charges
if you sell within 3 years, you get penalised
int rates are so low now that the only way is up
may be difficult to sell in 5+ years time as there'll be new flats in the market

Pros of buying:
You can paint the property any colour you like
If prices go up, you get tax free gains when you sell
You won't get kicked out

Pro of renting:
just ship out when u feel like it
new flats get built all the time, so you can upgrade cheaply

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