If You Have 1.6m To Spend, To Choose Condo Or Landed?

[pantieileen 2]

How did the threadstarter earns it first 1.6mil ?

i seldom comes to this financial thread, but can anyone advise me whether i m a savvy investor ? Eg

1. 5i hdb - bukit batok central (mrt 1min) bought at 120sq at $300k in 1999. - am i better off ?

2. freehold condo - 140sq meter bought at 430psf - paid around $648k in 2003 (SARS period). Hillview MRT just behind my block (govt provide mrt) - confirm jackpot for me. (mrt 2 min)

3. my stocks around $176k (excluding cpf side)

4. I did not rent out any apartments because my financial life very very suay !!! Mum wants to stay hdb, wife wants to stay condo ...indirectly i paid for both apartments. How to rent out like you members did ? i very envy all of you !!!

If threadstarter tells me that his 1.6m is via toto or 4d, i will buy toto until the next chinese new year since my feengshui period suppose to be good this year :-)

A) MF fund (mother father fund)

B) Bank loan

C) Inheritance

D) Embezzled funds (think M1, SLA these days...)

E) Gift from a marital contract ie sell yourself after ROM and u get $x

these days any tom dick or harry all got 1.6M else how do these people pay 1M for 99yr 650sqft 1room apartments? every morning i go to work i see so many Audis R8, lambos, porsche, Ferrari super depressing....sigh...starting to think my humble little honda look out of place in my ulu neighborhood and my neighbor seems to be suaning me that owning a BMW or merc these days is no longer a status symbol

[gimz63251073 0]

these days any tom dick or harry all got 1.6M else how do these people pay 1M for 99yr 650sqft 1room apartments? every morning i go to work i see so many Audis R8, lambos, porsche, Ferrari super depressing....sigh...starting to think my humble little honda look out of place in my ulu neighborhood and my neighbor seems to be suaning me that owning a BMW or merc these days is no longer a status symbol

Bank loan lor.... the days of status symbols are over with the launch of merc cabs.

[kalimantan 6]

my neighbour works in a law firm as a conveyance.

She wonders how these youngsters all can come out with $1m easily below 30s ?

Na bei, i don't even have $1m, first flat is a HDB and still own a HDB.

Must rub shoulders with rich people in this section liao.

[edenstrauss 3]

some of those born in rich families r already ahead of the race ... that's if they have inherited $-making genes.

Edited November 29, 2010 by edenstrauss

[blue_skies 3]

A) MF fund (mother father fund)

B) Bank loan

C) Inheritance

D) Embezzled funds (think M1, SLA these days...)

E) Gift from a marital contract ie sell yourself after ROM and u get $x

these days any tom dick or harry all got 1.6M else how do these people pay 1M for 99yr 650sqft 1room apartments? every morning i go to work i see so many Audis R8, lambos, porsche, Ferrari super depressing....sigh...starting to think my humble little honda look out of place in my ulu neighborhood and my neighbor seems to be suaning me that owning a BMW or merc these days is no longer a status symbol

I don't think the type of car one drives is a true reflection of how comfortable one lives or how much the person has in assets / cash. I know of someone who drives a BMW but who is 20k in debt. Once you drive a flashy car, you also got to live that life, otherwise "not matching". Hahaha. You don't often see a porsche along geylang road to eat frog's legs porridge, or park at HDB car park to eat at hawker centre.

I would gladly drive a humble Honda or a boneshaker car and live like a king After all, my home is not in the car.....

And anyway, if those who drove flashy cars were really rich, I think they shouldn't need to be in the morning traffic jam but rather working at the luxury of their own time LOL. I used to see this lamborghini along the ECP in the mornings. Got to drive at 40km/h and drive bumper to bumper all the way to rochor exit. So unglamourous.... hehehe. Sports car must be able to zooooooooooooom!!

[blue_skies 3]

some of those born in rich families r already ahead of the race ... that's if they have inherited $-making genes.

You know they say that money will last in the family for only 3 generations. Dunno how true that is though.

But would agree that risk appetite is a major factor. I know of friends who have enough capital to buy another property for investment but don't want to make the move because they consider many many many things (too long a list) and then decide that they cannot tahan the risk.

[edenstrauss 3]

That was the saying that the old man slogged like mad to create his empire & then make the son do the same to become a successful businessman. Then, the son in turn pampered his own son, who eventually turned out to be a wastrel.

Family education is very important & even among the rich & famous, their family education varies. There will definitely be those who had very wealthy ancestors & r still well-off till today, not easy to sustain this type of family wealth & its businesses.

[edenstrauss 3]

And some guys who drive around in posh cars... have no $$ in their pockets

I dated one like that before I married my hubby; dropped him after going out twice & he asked me to pay the petrol charges for him - becox he got no loose change

Edited November 30, 2010 by edenstrauss

[kalimantan 6]

And some guys who drive around in posh cars... have no $$ in their pockets

I dated one like that before I married my hubby; dropped him after going out twice & he asked me to pay the petrol charges for him - becox he got no loose change

at least u did enjoy being with a rich bf.

So what kind of posh cars your x-bf drive ?

[pantieileen 2]

You know they say that money will last in the family for only 3 generations. Dunno how true that is though.

But would agree that risk appetite is a major factor. I know of friends who have enough capital to buy another property for investment but don't want to make the move because they consider many many many things (too long a list) and then decide that they cannot tahan the risk.

Yes this quote is very very true.

According to tons of historical documents that i've collected, my family (4-5generations ago) owns the land where current Centerpoint sits, parts of siglap (to be precise one documents leads back to the land where Siglap center now sits), Nallur Road, 14 Mount Rosie road which is now owned by a servant and i'm now slogging in office...where did all the fortune go????

[pantieileen 2]

I don't think the type of car one drives is a true reflection of how comfortable one lives or how much the person has in assets / cash. I know of someone who drives a BMW but who is 20k in debt. Once you drive a flashy car, you also got to live that life, otherwise "not matching". Hahaha. You don't often see a porsche along geylang road to eat frog's legs porridge, or park at HDB car park to eat at hawker centre.

Got an ex who drove a lotus staying in hdb flat, one who drives z4 also hdb flat, one who drives z350 also hdb flat, one who drives TT also hdb flat

Does it mean i'm better coz i drive a lousy honda but at least i don't stay hdb flat?

[bepgof 20]

I don't think the type of car one drives is a true reflection of how comfortable one lives or how much the person has in assets / cash.

Cars depreciate fast, high maintenance.

Once you drive a flashy car, you also got to live that life, otherwise "not matching". Hahaha. You don't often see a porsche along geylang road to eat frog's legs porridge, or park at HDB car park to eat at hawker centre.

I would gladly drive a humble Honda or a boneshaker car and live like a king After all, my home is not in the car..... .

When stomach and pocket are full, many "patterns" come.

And anyway, if those who drove flashy cars were really rich, I think they shouldn't need to be in the morning traffic jam but rather working at the luxury of their own time.

That goes without saying. Pocket par par liao.

Edited November 30, 2010 by bepgof

[random_username 0]

i've learnt, that neither car, nor house, nor branded bag, nor branded watch, nor big talk - none of these are automatically affirmative correlations to a person's net wealth