Sigh... kinda Sad for me! As for now, it seems like i have to put my dreams to purchase my retirement house in JB for hold. Due to my wife still have alot of doubts like reno fees, etc..etc..btw she always changes her mind frequently when come to big decision. I just hope for the best then! Which i had tried to convinced her that not to worried coz i told her im willing to work very hard to get that money and i know i can make it. The reason why i so eager to buy is that i worry if i dont buy now next time will be more harder to buy due to our age, housing price soars and the minimum requirement amount for foreigner may adjust to higher which seems possible due to the current market situation. Very Sad i must say..i dont want to argue with her coz i want a peaceful agreedment so that in future no want is to blame what so ever arise. I know is not end of the world coz i still have my so call HDB to dwell in but it really different. Buying a house in JB be it an investment, a Weekend house or for Retirement im sure end of the day we will not lose out. This is what i call second opinion or option for a average class singaporean like me to hope for. Nevertheless, again i will not give up and will try to educate my wife to have a open mind.
Ofcoz i will still logging on into this wonderful forum. Cheers!
Wish me luck..money luck hahahaha!
hi DWKY9,
you know, reading your post brings back memories and sometimes a tinge of regret. Back in 2010 when I started looking, I was pretty much alone in my circle (like yourself) in the thinking of a house in JB. Visited HH and they showed me an available Semi-D in Gateway. Tag was RM850k. My budget was half that but pushed extra mile for RM650k Hills. Committing that amount was scary. Some sleepless nights. However the tinge of regret is today that same RM850k semi-D is probably at least RM1.3m, a 50% increase in 2 years. But looking back I could not afford it. Fortunately Hills house is worth at least 35% more now. Even now new terrace launches in HH is RM800k levels. Lesson is the demand is there and growing. The prices seem to have a new base every new launch. (my illustration of HH is not to endorse any particular one development as the same phenomenon has been seen in others like Nusa Duta, Nusa Idaman, etc)
I know that feeling of trying to catch. People say there is a bubble that may pop soon. I believe if you buy in strategic locations, you can resell with minimal losses in such an event that you would need to force-sell.
You have all the right thinking I will presume you are of working age and getting loan is reasonably ok. People forget that our asset is our age as well. There is an easy-loanable period. Dont miss that window. Some people want to wait for market to fall. They forget when markets fall, banks also stop giving loans. Just make sure remember the 30% of income rule.
Property investment is a hedge against inflation.
As for Renovation costs, I do believe the fear if more of the unknown than an objective assessment of the realistic costs. I speak from experience. I recently made a post in the Renovation Thread (post #235) in page 12 there, to share my experience in renovating. Is not as bad as it seems, it is a manageable issue. Take a read. You can convince your wife her kitchen is reachable. Is a matter of prioritisation and sacrifice of the rest.
My wife did not buy into JB at first but after a few rounds of discussions and visits, she came to see my point. Ask your wife what ideas she has to get enough bullets to buy an equivalent house in Singapore for retirement or to stay. The reality will dawn. Do not give up. Your gut feel is right. You just know it. If you need to have heated discussions, then they simply have to happen. You take the risk of being blamed now but you also run the risk of also being blamed in the future for not convincing her enough now! By then it is way too late for two old people staying in a flat to do anything about it...
All the best!
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