Best time to buy HDB flat from resale market?

[Investment]

Hi dear Dennis and classmates,

I attened the property class last sunday, it is really informative and thank god that I attend Dennis's class early. I still have a few questions in my mind that need to seek advice from Dennis and classmates.

I am a single citizen below 35, work in CBD area. I want to buy a resale HDB with my parents for self stay and collect rentals

- Is it good to buy from resale market now or I should wait another 5 years to buy the new HDB flat?

- Is now a good time to buy or I should wait until end of this year or even next year?

- According to Dennis' notes, I can buy with max price 500k, with this budget, which location i should buy? How big I should buy (2 bed rooms or 3 bedrooms)?

I can not wait the stock session on 19&20 Feb, I believe this is going to be my most wise investment!

Welcome all ideas and wish all of you a HAPPY CHINESE NEW YEAR!

[Dennis Ng]

Hi dear Dennis and classmates,

I attened the property class last sunday, it is really informative and thank god that I attend Dennis's class early. I still have a few questions in my mind that need to seek advice from Dennis and classmates.

I am a single citizen below 35, work in CBD area. I want to buy a resale HDB with my parents for self stay and collect rentals

- Is it good to buy from resale market now or I should wait another 5 years to buy the new HDB flat?

- Is now a good time to buy or I should wait until end of this year or even next year?

- According to Dennis' notes, I can buy with max price 500k, with this budget, which location i should buy? How big I should buy (2 bed rooms or 3 bedrooms)?

I can not wait the stock session on 19&20 Feb, I believe this is going to be my most wise investment!

Welcome all ideas and wish all of you a HAPPY CHINESE NEW YEAR!

Hi Investment,
please go through your notes.

No. 1 step is to determine your objective, why are you buying and probably that will help most of the other questions.

Nobody has crystal ball, to know whether prices are rising or falling, or WHEN that will happen.

If you're buying a property for self-stay, then the most important thing is Affordability. In the short run (a few years), prices can go up or down, in the long run, prices are likely to be up.

Sharing my own personal experience, I bought my HDB flat in 1995 at a high price then...Prices went up another S$150,000 but crashed by S$200,000 in the 1998's Asian Crisis.....the market value then was about 10% below my purchase price. Today, this same flat is S$200,000 higher than my purchase price...and I'm still happily staying in it.