Stay where I am, or downsize

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RobSg
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Stay where I am, or downsize

Post by RobSg » Sun, 12 Feb 2012 9:38 am

Hi all-
I'm only on here occasionally, but would welcome your opinion. I'm a semi-retired (wish I were retired)Singapore PR from the States. I live in a very nice apartment (1450 sq feet) even considering the noise from the CTE and some construction. Every floor in my building has only one apartment. My rent is about $2,400/month, and it's the end of the lease. The landlord wants to increase the rent to $2,500/month for a 2 year lease, or $2,450 for a one year lease. It's a 3 bedroom and completely furnished, and in the Novena and Owen Road area. I live with a Canadian friend I've known many years. He's like family. The landlord likes the fact that we keep the place in good shape, so the rent is very reasonable. She says she could rent the place easily for $3,000/month.

We are considering downsizing a lot to a small 3 room HDB flat (600-700 sg feet). The rent would be about $1,800/month, maybe a little more. I'd spend about $400-$500/month less on my share of the rent. That might allow me the opportunity to travel more, less part-time work, and make life simpler.

Here's my concern- a lot of my friends seems to think that the amount I'm currently paying for rent is a good deal. Moving to a 3-room HDB flat will result in a lower quality of life. The noise level in HDB units, particularly along the shared corridor, is something you need to get used to. Also, saving $400-$500/month is not that big a deal for the change is the quality of life you need to get used to.

Are any of you in 3-room HDB flats, and has it been a good experience for you? I'm a bit frustrated on my inability to make a decision like this, so I'm sorry if I turn to this forum and seek your input.

Thank you.

RobSg

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Mad Scientist
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Post by Mad Scientist » Sun, 12 Feb 2012 9:50 am

HDB and private apartments are two different kettle of fish.

There are advantageous and disadvantageous on both ends. Since you are a PR and looking at the rent and other deals you are currently having, why rock the boat. It is really not rocket science.
It is not that you are at great disadvantage of having to move out or being "forced" out. Stay put and why do you want to put yourself into more difficult situation. Yes, saving is about 20% if you move to HDB but it all depends on your lifestyle and is it really worth it ?
The positive thinker sees the invisible, feels the intangible, and achieves the impossible.Yahoo !!!

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zzm9980
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Post by zzm9980 » Sun, 12 Feb 2012 10:35 am

Your current deal sounds pretty damn good to me.

That said, I live in a 3-room HDB (and pay more than you're paying now!) I haven't had any major downsides of yet of HDB life. The only major noise is from ECP and the basketball court. The common hallway is no concern at all. The only noise there is probably my fault, when my 9-month old is shrieking because she loves going outside.

Basically, I don't think the HDB life is nearly as bad or will require quite as much adjustment as you think, but I also think your deal now is pretty good (Especially if money isn't a concern) so why bother changing?

x9200
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Post by x9200 » Sun, 12 Feb 2012 11:30 am

Is this S$2450 for your share only or for the whole apartment?

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aster
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Post by aster » Sun, 12 Feb 2012 11:38 am

zzm9980 wrote:Your current deal sounds pretty damn good to me.
Exactly my thoughts, this seems like an awesome deal. I'd sign now before your landlord changes her mind.

Seriously, prices have been skyrocketing of late. If your 2-yr lease is up for renewal and you're only getting a $50 or $100 hike in rent, then the landlord is giving up a lot more $$$ than you are.

RobSg
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Post by RobSg » Sun, 12 Feb 2012 11:39 am

$2450 is for the whole apartment. Like I mentioned, it's completely furnished, 1450 sq feet, and the only apartment on the floor. I know it's a good deal. I just need to still work some, and I guess I like maybe spending part of the year in Malaysia and part in Singapore. That why we thought about downsizing to a 3 room flat (HDB) for about $1800. However, as Mad Scientist pointed out, is that worth the move? Also, as zzm9980 said, my deal is good now, so the inference is why move?

RobSg
Last edited by RobSg on Sun, 12 Feb 2012 1:38 pm, edited 1 time in total.

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nakatago
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Post by nakatago » Sun, 12 Feb 2012 1:35 pm

I concur with everyone--you have a pretty sweet deal.
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sundaymorningstaple
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Post by sundaymorningstaple » Sun, 12 Feb 2012 3:36 pm

Stay. The difference in noise levels is worth the difference alone. I've lived in my HDB Flat for 12 years now (in 20 months it'll be paid for). I've not had a moments peace yet. And, as mentioned earlier, you are essentially paying HDB rates already, but with pvt housing amenities.

Also, it's nice with LL & tenant have a good relationship (that's worth quite a bit in my opinion).
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

DennisChan
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Post by DennisChan » Thu, 08 Mar 2012 12:05 am

just some thoughts.

- sure it would be great to have some peace & privacy, but of course it comes at a cost.

- you do travel quite a bit and hence thinking would this be a waste of your money.

- saving an extra few hundred could help you as what you mentioned, travel more work less, so why not.

so it comes to numbers VS quality, although I'm sure there some HDB estates that are relatively quiet too.

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