Living in JB

[gskalra]

My first house, I took up an loan from the cash values of my own insurance with NTUC, then use the rent that I have collected from my HDB flat to pay it back. Just a suggestion. If its of any use to you.

Hi Cathy,

My mum has a fully paid HDB flat. I am considering not buying a HDB and going straight for something in Nusajaya, or if work really allows then perhaps even KL. With around SGD30k i should be able to put a downpayment and other fees in Nusajaya. Only thing is I may only be able to do so by the end of 2012, and property prices are going up(in JB). Wish I could get something earlier(and cheaper)

I do not understand how to take a loan based on the insurance. Could you please explain further?

Thanks for the advice

 

[LeMans2011]

#4 is funny... :o

In the GLCs, they found an ingenious way to accomodate many "top people" by finding all kinds of names. As you know, GLCs are dumping ground for high level PAP retiress (eg. Yeo Ning Hong, Lee Boon Yang, etc).

So i recall in the ST Group they had: Chairman, President, CEO, Managing Director... who is higher?

 

[maxpark]

Pardon my ignorant abt political matters, but I don't see why sg gov will encourage easier access for singsporean's in and out of jb.
1) to encourage singsporeans to spend money in another country?
2) to facilitate singaporeAns living in jb coming in and out of jb on daily basis?
3) to encourage more malaysians to work in Singapore?

I really don't see much for Singapore to gain out of these.... Maybe someone can slap me on the back of my head and enlighten me

Hi Tutucake,
Maybe I shouldn't have been too presumptive to state that the People Demands of it... maybe should be 60% demands it, 40% dont... or is it the other way around? Hahaa... Just kidding.

Personally, I think it is a win-win thingy, sort of to 'prosper thy neighbour' policy as, as rightly pointed out by Wuqi (sorry, here I go and quote you again!), the real COMPETITION is OUT there.

If the immediate surrounding regions around Spore (we all know about the Red Dot thing...) are poor, undeveloped and struggling with a restless, growing, teeming population of millions, it would lead to all kinds of unstable politics : and it will invariably affect the position and safety of Spore itself in the longer run - not to mention our attractiveness as a centre in South East Asia for various investors.

People like to liken the JB-Spore relationship to Shenzhen-HKG... for me, I prefer to think of it as Taiwan-China.
Two sovereign nations, working ever closely together, need not be a bad thing for everyone (ok ok, 60% or 40% may disagree...)...

Just my rambling 2c thots.

 

[maxpark]

Sorry i missed another important project... they will glue together Singapore and Malaysia, Straits of Johor will disappear, and there will not need to build any more bridges

Bro, this one cannot lar... later stray elephants cross into Spore and jam up traffic in Orchard... now already so crowded! hehe...

 

[tutucake]

Hi Tutucake,
Maybe I shouldn't have been too presumptive to state that the People Demands of it... maybe should be 60% demands it, 40% dont... or is it the other way around? Hahaa... Just kidding.

Personally, I think it is a win-win thingy, sort of to 'prosper thy neighbour' policy as, as rightly pointed out by Wuqi (sorry, here I go and quote you again!), the real COMPETITION is OUT there.

If the immediate surrounding regions around Spore (we all know about the Red Dot thing...) are poor, undeveloped and struggling with a restless, growing, teeming population of millions, it would lead to all kinds of unstable politics : and it will invariably affect the position and safety of Spore itself in the longer run - not to mention our attractiveness as a centre in South East Asia for various investors.

People like to liken the JB-Spore relationship to Shenzhen-HKG... for me, I prefer to think of it as Taiwan-China.
Two sovereign nations, working ever closely together, need not be a bad thing for everyone (ok ok, 60% or 40% may disagree...)...

Just my rambling 2c thots.

Makes sense... Guess I didn't look at it in a bigger picture... But I have another ignorant view on this...feel free to slap me again....Heee

Say if Malaysia progress very well... To a point 1sgd = 1.5rm.... Those still paying loan will suffer....
Next, if going in and out of jb becoz much easier, the housing price and rental yield in sg will definitely be affected... As the FTs might start buying houses in jb rather then to buy or rent in sg....

Now if both of the scenario happens, singaporeAns living in jb will be tied up with a loan that is significantly higher due to the exchange rates, at the same time the rental income in sg being jeopardize....

P.s: I juz saw chiam see tong in NUH... Heartaches as he seem really really weak

 

[DREAMorACTION]

Likewise, Merlions swim into Johor straits?! Lol

Bro, this one cannot lar... later stray elephants cross into Spore and jam up traffic in Orchard... now already so crowded! hehe...

 

[maxpark]

Hi Cathy,

My mum has a fully paid HDB flat. I am considering not buying a HDB and going straight for something in Nusajaya, or if work really allows then perhaps even KL. With around SGD30k i should be able to put a downpayment and other fees in Nusajaya. Only thing is I may only be able to do so by the end of 2012, and property prices are going up(in JB). Wish I could get something earlier(and cheaper)

I do not understand how to take a loan based on the insurance. Could you please explain further?

Thanks for the advice

No offence but I think you need to be careful to take into account that there are many miscellenous costs ($ and non $) in buying properties in Malaysia.
So, it may be prudent not to rush into it (I know its not easy, once you're hooked onto this thread! ) until you have a more stable financial footing and have the time and resources to consider various scenarios and implications.
It's not exactly a bed of roses here and one wrong move, especially if starting out, can be very costly and may take a long time to recover.

Personally, I feel it is never too late to buy into JB, even many years from now ... and be mindful not to join a stampede as some bulls are bigger than other bulls and its quite easy to get crushed in one, if one is unprepared ... caveat emptor.

 

[cathylmg]

Yep. One of my neighbour's daughter got it for rm50k. She rent it out for rm400 per month and bought another house to stay in. Wow! Can you see the potential return of a typical local Johorean?

 

[gskalra]

No offence but I think you need to be careful to take into account that there are many miscellenous costs ($ and non $) in buying properties in Malaysia.
So, it may be prudent not to rush into it (I know its not easy, once you're hooked onto this thread! ) until you have a more stable financial footing and have the time and resources to consider various scenarios and implications.
It's not exactly a bed of roses here and one wrong move, especially if starting out, can be very costly and may take a long time to recover.

Personally, I feel it is never too late to buy into JB, even many years from now ... and be mindful not to join a stampede as some bulls are bigger than other bulls and its quite easy to get crushed in one, if one is unprepared ... caveat emptor.

I do have to agree with you here. I have been looking to move to Malaysia a few years, but had some work problems long the way. So lack of capital. I am really engrossed in this thread, so it can be really tempting. But you are right the extra costs may come to bite me in the back. Need to have a substantial amount of cash aside, before jumping in as well.

I think the next thing to do is to make a plan and list down all the possible costs(inc misc) that may appear. It should become clearer after that.

I will still keep my eye out for things, you never know when opportunity may strike. Thanks Bro MaxPark

 

[maxpark]

Bro Tutucake,
Sorry my fake crystal balls cannot see so far until sgd1=myr1.50... hehe
If it does happens, however, by then I pray and trust that all in this forum would already have cleared all their loans, way before!


Btw, what is tutucake? Is it some kind of indonesian cake found in Bengawan Solo?

 

[maxpark]

I do have to agree with you here. I have been looking to move to Malaysia a few years, but had some work problems long the way. So lack of capital. I am really engrossed in this thread, so it can be really tempting. But you are right the extra costs may come to bite me in the back. Need to have a substantial amount of cash aside, before jumping in as well.

I think the next thing to do is to make a plan and list down all the possible costs(inc misc) that may appear. It should become clearer after that.

I will still keep my eye out for things, you never know when opportunity may strike. Thanks Bro MaxPark

No worries, a cliche perhaps, a journey of a thousand miles + the first step thing, blahblah, is true...
So good luck to your own journey, only you can make it happen!

 

[ODYSSEY]

28/12 , Today I am 1 yr older Liao, am so glad that I bought a house in jb as a present to myself.
As I was sitting at mac this afternoon, am feeling very gd n observed e ppl around me. I never feel so eased before , no need worry my iPad or valuables will be snatched etc. If I am in sentosa , I won't dare to walk around or use my iPad openly.

Happy Birthday Crystal - So happy for u and ur achievement! Hopefully after we move over to JB next year we can all celebrate ur birthday with u. 2012 should be an epic year for most of us! Cheers!

 

[cathylmg]

Hi Cathy,

My mum has a fully paid HDB flat. I am considering not buying a HDB and going straight for something in Nusajaya, or if work really allows then perhaps even KL. With around SGD30k i should be able to put a downpayment and other fees in Nusajaya. Only thing is I may only be able to do so by the end of 2012, and property prices are going up(in JB). Wish I could get something earlier(and cheaper)

I do not understand how to take a loan based on the insurance. Could you please explain further?

Thanks for the advice

Simple. For the years that you have paid your insurance, if you stop paying, you can actually have a certain amount back. In the case of an insurance loan, you are borrowing money from your own pocket. Pledging your insurance cash value as your collateral assets. In this case, you will still have to pay your monthly premium, plus the insurance company charge a certain amount of interest from you until you have fully paid up the principle loan.

In my case, rather then having lost the opportunity to invest, while keeping the cash value with the insurance company for no interest for the rest of my paying life, I took up an insurance loan to place a deposit for the house. But I still intent to pay off the insurance loan and keep the insurance for old age. So I use the rent that I have collected from the HDB flat to pay it off.

Its just a matter of shifting money from pocket A to pocket B. (From insurance to house.)

 

[maxpark]

In the GLCs, they found an ingenious way to accomodate many "top people" by finding all kinds of names. As you know, GLCs are dumping ground for high level PAP retiress (eg. Yeo Ning Hong, Lee Boon Yang, etc).

So i recall in the ST Group they had: Chairman, President, CEO, Managing Director... who is higher?

Not always clear... sometimes it may be the surname that carries the actual weight...

 

[jasonjst]

Makes sense... Guess I didn't look at it in a bigger picture... But I have another ignorant view on this...feel free to slap me again....Heee

Say if Malaysia progress very well... To a point 1sgd = 1.5rm.... Those still paying loan will suffer....
Next, if going in and out of jb becoz much easier, the housing price and rental yield in sg will definitely be affected... As the FTs might start buying houses in jb rather then to buy or rent in sg....

Now if both of the scenario happens, singaporeAns living in jb will be tied up with a loan that is significantly higher due to the exchange rates, at the same time the rental income in sg being jeopardize....

P.s: I juz saw chiam see tong in NUH... Heartaches as he seem really really weak

Bro ,
1st part of your question , S$1=RM1.5 ... by that time you most likely pay up your loan liao . How about the gain in value of your property ?
2nd part of your question. FTs are already buying properties in Nusajaya . Go and read those FTs blogs and you will find out . Only Sinkies with sinking mindset have not buy anything yet !

 

[pasture8]

Hi Tutucake,

Its a twist on Singapore version of "juche" which has been somewhat tweaked now as they realised "juche" can only get them so far.

Its to lessen the burden of many on the country as they are able to help themselves better if they are in Johore
Its to lessen the burden on the hospitals and medical infrastructure by getting Singaporeans to get their medical needs
looked after in Johore.
Its to cooperate rather than compete on the medical, educational, entertainment as well as manufacturing fronts.
Both countries have things which each other needs, we are an island so they realised we can help the "hinterland" and vice
versa..

In an incoming long drawn storm, the 2 feuding brothers needs to unite and help each other.

Looking forward to the day when Malaysians and Singaporeans cross each others border no need to show pass port. A kind of a european union. If you happen to be a tourist arriving in Changi International, you can take the Nanyang express (our version of the orient express) straight into M'sia without getting down to Q up and chopped passport, instead there will be immigration officers on the train spot checking travellers documents. This was the scene before independance...my father remembered fondly how together with his friends and colleagues and family members would drive from Singapore, cross the causeway and straight into kota tinggi and enjoy the water fall

zoom in zoom out no CIQ. Hope this day will come. There is no need for merger, we can still be independent countries but operate as ONE Malaya. Who knows, this idea may one day expend to the whole of ASEAN, but certainly, i think this later realization i will not be around to see...

No need for merger, it is better to remain as independent countries, even husband and wife also quarrel from time to time not to mention countries with ethic/racial differences. At least each has its own "homeland" to retreat to, to cool down and engage again. Cooperation is the way to go in a very uncertain 21th century with contending global powers jostling for da-ke-da position and regional opportunist may take this to chor chor us...cooperative framework - ONE Malaya extending to the 5 power defence arrangement which confer a neutral party (3 in fact) to bind the 2 of us from a common historical perspective and with confidence base on stability in relationship we work to engage ASEAN to draw closer a la Europrean Union. But we better retain our own respective currencies

Rule of law and democracy must prevail.

Day dreaming again ...:*:

 

[maxpark]

No worries, a cliche perhaps, a journey of a thousand miles + the first step thing, blahblah, is true...
So good luck to your own journey, only you can make it happen!

I forgot to add - why dont you want to consider getting HDB first as what you posted - if you qualify?
I for one (and I reckon a few others too here) started off in HDB and moved upwards from there...
It's your basic safety net and gives you a useful start for acquiring more assets in future... take it as a gift from Toa AhKong.

You may have your own reasons but I believe some here wont mind having another crack at getting a new HDB, if opportunity is given again.
These days, the quality really is not bad at all... and its value has well proven to hold its weight, over a long time...

Anyway, good luck!

 

[yonglip]

Re: causeway link bus

Yonglip bro, your hotel is progressing well ^^ can enjoy your holidays there =)

haha..how i wish i own it bro....

its been a while since i go to this part of town. nearly cried seeing this pic....few years ago, the building only just a model. i was skeptical it will be completed. some naysayers even say it will be abandoned half way. many of them are now sucking their toes...haha.

truly iconic in this part of JB.

cheers.

 

[ODYSSEY]

Sorry i missed another important project... they will glue together Singapore and Malaysia, Straits of Johor will disappear, and there will not need to build any more bridges

LeMans, tis is getting too hilarious already. Please stop! : ) But then, hmmmn...... (food for thought)

 

[ODYSSEY]

Simple. For the years that you have paid your insurance, if you stop paying, you can actually have a certain amount back. In the case of an insurance loan, you are borrowing money from your own pocket. Pledging your insurance cash value as your collateral assets. In this case, you will still have to pay your monthly premium, plus the insurance company charge a certain amount of interest from you until you have fully paid up the principle loan.

In my case, rather then having lost the opportunity to invest, while keeping the cash value with the insurance company for no interest for the rest of my paying life, I took up an insurance loan to place a deposit for the house. But I still intent to pay off the insurance loan and keep the insurance for old age. So I use the rent that I have collected from the HDB flat to pay it off.

Its just a matter of shifting money from pocket A to pocket B. (From insurance to house.)

May I add that the interest u pay for the loan against ur insurance policy cash value can be in the region of 8% per annum. As rightly mentioned by Cathy, after taking the loan, try to pay off this loan as soon as possible otherwise, the end sum can add up to quite an amount. Having said that, this approach is preferred to taking a cash advance from ur credit card (which can be as high as 24% per annum) : )