Enter your email address:

Delivered by FeedBurner

The House- Your Biggest Asset and Expense


hdbflats Read this article on WSJ, “Are Distressed Homes Worth It” and remembered my own apartment search here in Singapore. It was both challenging and ultimately fruitful as the flat we bought is being sold for around $200,000 more.

The photograph here on the left shows the type of environment I am living at now and it is a quiet and nice place to stay away from the hustle and bustle of the city.

The fact that people are coming out to buy properties which were foreclosed as illustrated by the WSJ article is yet another sign that the housing market is on the mend.

For the buyers, it is a relatively good buy despite the hassles, problems and inconvenience you face trying to bid for the property.

Here in Singapore, I just read an article talking about release of balance flats by the HDB which you may want to check out. It includes a mix of new flats in prime areas like Queenstown, CBD area like the Duxton project etc and old flats which were probably repossessed or if it was a rental flat, the tenet decided not to continue.

I spent quite a bit of time today looking at the website to see if there are any flats worth taking a closer look at.

In contrast to people who are upgrading, I am looking to downgrading to a smaller flat, and pocketing the difference between the prices for either investment purposes or to repay the mortgage loan in full. For me, if I have the equivalent of the housing loan in investments, it is the same as having the apartment fully paid up for. And I can do more with the investments in an emergency, but if I pay off the flat and need the money, I will have to sell it off.

I don’t mind relatives or friends thinking about why I downgraded my flat, as long as I have money for investment, and in the bank account.

If it succeeds, this will mean that my wife and me will take a major step towards financial freedom.

Wish me luck? :)

Related Posts

Bookmark and Share


Post a Comment


The information contained in this blog is prepared from data believed to be correct and reliable at the time of publication of this report. The authors do not make any guarantee or representation as to the adequacy, accuracy, completeness, reliability of the information contained herein. Neither the authors or any affiliates or related persons shall be liable for any consequences (direct or indirect losses, loss of profits and damages) of any
reliance placed on information provided in the blog.

Shares and financial instruments illustrated in this blog can go down sharply or in certain instruments suffer total loss on the initial investments. Investors are advised to make their own judgment on the information provided and consult their own financial advisors or consultants as to the suitability of the products illustrated to their particular financial needs and objectives before acting on any information contained herein in this blog.