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Here’s the transcript of the video:
For most Singaporeans, buying a HDB is the first step to owning a property. Correct. But at the same time a lot of Singaporeans also know that I cannot be stuck with a HDB, I need to upgrade. Yes. So what tips or advice will you give to like first time HDB buyers? Those that actually purchase a BTO or resale, so that it is easier for them to actually make the upgrade in future. I think I covered this, I mean if you don't mind me saying right? I think I covered this in one of my Facebook live interviews, videos before about why first property purchase is extremely important right. Because honestly speaking if you buy the first property and that property doesn't make you money, the second property you have a huge issue because you probably don't have the funds for you to invest in another property. Because if you sell your property, you probably have a negative sale or probably you don’t have any cash. So if you really really want to move on to the next property what you only can do is only to eat into your own savings. That is why I think the first property purchase is extremely important. I always encourage a lot of people to buy new BTO flats or new EC's to start off because at least you will make something like probably hundred plus thousand, you know to start off with and this money you can use it for your next purchase. So I think it's important for people to look at it. But then again, I have seen a lot of couples nowadays they bought resale flat and they have negative sale. So I think it is also important even though they know that they are not in a very good situation but this group of people they have quite a lot of savings. They have quite a lot of savings, and I think it's important to for them to look at it in a different angle for them to pull themselves out of this situation because their property probably for the next 10 to 20 years also don’t make money as well. All right, I think that's important. Right and it is like you are moving. It’s just like, how do I put it, you know that you send your kid to a school that your son doesn't improve your daughter doesn't improve right? You're just making a decision to pull him or her out of it to go to another good school. So that he or, I mean the kid can probably improve much better, right? It is just simple decisions, but now is just in terms of property which makes it more difficult because a lot of factors come into play like emotions and stuff like that, right? So I think that is important for everyone. Click here if you're looking for property management apps in Singapore.
