Upgrade to Condo is mportant to me because private property prices have steadily, if not exponentially, appreciated in the past few years

[k1976]

How often do people go bankrupt?

Once in a Blue Moon de

 

[k1976]

That's absolutely true, but everyone needs a place to stay before they make it big...quite certain Musk, Gates, Balmer, Jobs, Bezos rented some accommodation to stay before striking it...case in point many young people who are chasing the FIRE lifestyle are getting it all wrong

They are hopping their have the luck and hidden potential to make it big mah

Leemember...there is a very popular saying : Young People can take risk mah?

Aka Cannon Flodders?

 

[JohnTan]

The bottom line is that HDB residents have no share of the land where their HDB blocks stand on, while condo owners possess a strata title, which gives them a share of the land where their estate sits on.

Banks find it easier to evict condo owners from their property, strata title or not. Good luck trying the same thing with hdb flat dwellers when they go bankrupt. That's one of the main safety nets for sinkies living in HDB flats.

 

[True Believer]

Banks find it easier to evict condo owners from their property, strata title or not. Good luck trying the same thing with hdb flat dwellers when they go bankrupt. That's one of the main safety nets for sinkies living in HDB flats.

That is simply because the HDB is the lessor (asset owner) and you are the lessee (tenant) i.e. you don't even own the flat that you paid an arm and a leg for.

 

[Willamshakespear]

I am approaching my mid-50s. PMEs like me and my Mrs managed to upgrade out of the HDB heartlands by our early 30s. I am not sure how many white collar university grads are able to do that or even buy a condo at all at today's runaway prices.

Congrats to the hardworking, dedicated & smart you & your Mrs, whom had upgraded to supposed better living quarters. Shelter, which is a necessary component to life, is ultimately merely a roof over one's head, in any form. to avoid the elements...

It is NOT only grads, but every Singaporean citizen, regardless no matter their education background, should have such opportunity as you had achieved. Singapore is a democracy & land of opportunities, where we will leave none behind, unless they choose to. Singapore may have limited horizontal landspace, but NOT VERTICAL space, which is unlimited so long as we use science & tech to achieve such for the safety & home ownership of all...

No mortal is perfect, & each would need failures to wake up to realities. However, may none believe that failures are a part of life. IT IS NOT. It is CRITICAL to acknowledge failings, AND to research, find out, to correct them IN ORDER to progress & evolve. Failure is NOT an option in life. Some just simply believe that it is ok to fail, BUT DO NOTHING to correct errors, & thus consequences come, not only to themselves, but their loved ones too...

You started off with a HDB flat with your Mrs. What was the price that you paid for the flat, & what was your salary back then? In truth, the avg salary back then was a mere est $2000/mth as a grad & an exec flat was merely $100k. Today, such avg salaries no longer exists in progressive Singapore, where it is between $3k to $5k/mth.

While costs to build better HDB flats had risen, than the one you lived once, so too had salaries & even altrusiac citizens from the PM to the toilet cleaner. had contributed thru taxes to give our youths a chance in life to own a home of their own, thru many various govt grants & usage of CPF retirement funds, in the hope that our youths whom are far more educated today, would seize honest opportunities to grow, evolve & lead the next generations to come, as our courageous founding & forefathers whom had less but had sacrificed & give us our todays....

Costs of living had risen not just in Singapore, but Worldwide. Thus a need to adjust to a changing World, & base the cost of living issue in terms of OPPORTUNITIES in life that we taxpayers had created for the Singaporean born, & not on Aspirations - to live like a king without any honest effort done.

 

[k1976]

Banks find it easier to evict condo owners from their property, strata title or not. Good luck trying the same thing with hdb flat dwellers when they go bankrupt. That's one of the main safety nets for sinkies living in HDB flats.

Good hands take care of them de