Will You By A Soho If It Is Very Near Mrt And Price About 20% Cheaper Than Condo In That Area?

[dantokan 0]

Will you buy a SOHO if it is very near mrt and price about 20% cheaper than condo in that area?

Does anyone here know is it worth getting a SOHO? What exactly is a SOHO and what is the pro and con???

Will I have difficulty selling or renting it out in future?

Agent told me my target group of buyer and tenants are limited because it will only be those who wan set up business and have a place to stay near city. Is it true?

I thought home owner seekers may consider to buy SOHO to stay just like me, thinking of buy for the main purpose of making it my home nest only.

But after hearing from the agent, I am very confused if I should buy or not. As my concern will be whether can be sell or rent out easily in future.

Can any nice soul enlighten me?

[Phantom 1]

which development?

[wil74 0]

Will you buy a SOHO if it is very near mrt and price about 20% cheaper than condo in that area?

Does anyone here know is it worth getting a SOHO? What exactly is a SOHO and what is the pro and con???

Will I have difficulty selling or renting it out in future?

Agent told me my target group of buyer and tenants are limited because it will only be those who wan set up business and have a place to stay near city. Is it true?

I thought home owner seekers may consider to buy SOHO to stay just like me, thinking of buy for the main purpose of making it my home nest only.

But after hearing from the agent, I am very confused if I should buy or not. As my concern will be whether can be sell or rent out easily in future.

Can any nice soul enlighten me?

Renting out definitely possess no problem as long as you are able to offer a 1bedroom type of price.. But that might do damage to your rental yield..

'coz tenants have alternatives .. like 1 bedroom which might be cheaper than your studio?

or 2 bedroom. ..with another bedroom paid by another tenant.. so it is still cheaper..

Anyway, it's true that your buyer group will be limited coz it will be a group like yourself.

I would go for a 2bedroom as it has the largest willing buyer base of young couples or just single working adults.

[dantokan 0]

Renting out definitely possess no problem as long as you are able to offer a 1bedroom type of price.. But that might do damage to your rental yield..

'coz tenants have alternatives .. like 1 bedroom which might be cheaper than your studio?

or 2 bedroom. ..with another bedroom paid by another tenant.. so it is still cheaper..

Anyway, it's true that your buyer group will be limited coz it will be a group like yourself.

I would go for a 2bedroom as it has the largest willing buyer base of young couples or just single working adults.

Hi wil74

Thanks for reply.

I am wondering on the buyer group, why will it be limited? I thought, SOHO will have more choices of buyers as home buyers/investors can buy and stay or rent out. Or even people who want to stay and work at the same place can also consider SOHO. But my agent kept saying only those who want to stay and work may want to buy SOHO. So I am confused.

If I buy, I intend to partition into at least 1bedroom and if possible 2bedrooms and rent at the price similar to condo.

Not sure if feasible. And if SOHO is a good idea....

Hope someone can help and enlighten.

Any comments and feedback will be beneficial in my decision making.

[yoongf 11]

I find this a stange topic.

You sound relatively new to this topic of SOHO. This is a highly specialised class of property investment. This is not something a newbie should get involved in, as there are many variables.

The next thing is your agent. Normally.. agent will talk about "endless opportunities" rather than focus on "limited options". This agent does not seem to be objective, or have some other agenda.

SOHO got 2 kinds.. 1 is zoned residential, the other kind is zoned commercial. One can use CPF.. the other cannot. One is paying resi SCV rates.. the other one is commercial SCV rates. One is resi property loan, one is commercial property loan. The differences are substantial, and is not an easy decision to make whether SOHO is a suitable investment.

[dantokan 0]

I find this a stange topic.

You sound relatively new to this topic of SOHO. This is a highly specialised class of property investment. This is not something a newbie should get involved in, as there are many variables.

The next thing is your agent. Normally.. agent will talk about "endless opportunities" rather than focus on "limited options". This agent does not seem to be objective, or have some other agenda.

SOHO got 2 kinds.. 1 is zoned residential, the other kind is zoned commercial. One can use CPF.. the other cannot. One is paying resi SCV rates.. the other one is commercial SCV rates. One is resi property loan, one is commercial property loan. The differences are substantial, and is not an easy decision to make whether SOHO is a suitable investment.

Hi Yoongf

The information you provided are what I am searching for!!!

Yes you are right! I am greenhorn to SOHO. I am attracted to it purely because of the price tag and that I need a place to live in urgently as unable to get a flat after many years of tries.

So I intend to stay for about 2 years till my BTO is here and then rent or sell out.

From URA, I saw this property zoned as commercial.

I was told by the agent there is GST.

I feel that the agent focus on limited opportunities is because she is the co-broke for this SOHO but is the exclusive agent for the condo nearby. Thus I felt is due to her interest she is not being objective but I could be wrong. And it is this main reason, I wish to seek opinion and expert advice from fellow pals here.

I was also told by her that since duno which year, govt do not allow the use of CPF for purchase of SOHO. She did not tell me there is a residential SOHO nor commercial SOHO.