Right time to buy a property?

Dear Mr Tan :

I really enjoy reading your blog - it offers practical advise and alternate views which sometimes is so obvious. We are influenced by other people around us and does not see the alternative options.

I have been working in Singapore for about 15 years, and recently became a citizen. I have been renting a property and the rental will seen be increased sharply. I have about $500,000 in my CPF and liquid investments.

I am interested in buying a permanent home. What is your opinion in this matter? I do not qualify for a new HDB flat. Should I buy resale HBD?

REPLY

I am not really familair with this matter. I wonder if it will help for you to visit HDB and talk to the officer there?

Generally, I think that HDB resale represents a good investment, as there is a large pool of people who are willing to sell, to move to another new HDB property. So, you should get a reasonable price.

Perhaps, if you talk to a property agent and get some quotes of what are available, you may be able to make a better decision. If you have some possible offers, you can ask me to help you make an analysis.