Save On Renovation, As The $$ U Borrow From Cpf Will Have To Be Returned With Interest

[renohobbyist 0]

Don't get me wrong, I have always been crazy on everything renovation.

But just sharing a piece of news, do u know the money u took from cpf to buy your love nest will have to returned back with interest?

So meaning when u sell your house in the future, most likely u won't see much money going into your pockets as majority if not all, will go back to cpf (taking minimum sum into consideration too)

[gemini 8]

Rate of return on property far exceed the interest on CPF. Unless you foresee that a property in 20 years time will be cheaper than today. Property is one of the must-have vehicle to curb high rising cost in Singapore.

If save on renovation cost now, it will cost you more to do the same renovation in future. Higher labour cost, higher material cost, higher GST, higher taxes etc.

To enhance your property value:

Invest in prime location such as Tiong Bahru. Forget about Changi Point or Woodlands.

To enhance your renovation value:

- Go for good flooring like marble, granite, parquet etc.

Edited June 3, 2014 by gemini

[Guest Steven Ng]

i agree... 20 yrs ago a 3 rm flat in prime area... corner unit... cost jus 170k.... now is at least 380k... your CPF wont double in 20 yrs becos of interest alone