I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

Click to email CW8888 or Email ID : jacobng1@gmail.com

Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down

Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Monday 30 August 2010

$100,000 above valuation - clever or crazy?

Read old posting on? Why Think Of Selling Dream Home?


So is he crazy? I said no and I believe he could well afford it and knew how to live his life!

"Does everything in your life have a price tag and can be sold for a profit?" - Createwealth8888


The Electric New Paper :

Despite friends' dissuasion, our journalist buys Choa Chu Kang HDB penthouse at whopping $755,000.

29 August 2010

Yes, I paid $100,000 in cash-over-valuation (COV) for my HDB flat. No, I did not mistakenly add an extra zero to that figure.

"Gila" (crazy in Malay), said one friend. Totally exorbitant, chided another.

But I have only one question: How much would you pay for the home of your dreams?

I felt it was worth paying $755,000 for the four-bedroom executive maisonette in Choa Chu Kang, even though I feel that property prices have hit ridiculously high levels.

The 12-year-old flat has 87 years left on its 99-year lease.

The Business Times reported last month that the median COV for executive flats and five-roomers in hot areas, such as Bishan, was $70,500 and $52,500 respectively.

Sure, the amount I paid was more than that. But it wasn't an impulse buy.

My wife and I considered many things before choosing this flat and finally signing on the dotted line.

So what happens when the property market cools and prices start dropping? Will I regret how much I have put into my new home?The answer is no.

I certainly don't plan to sell. Not even if someone dangles a $150,000 COV offer.

That's because I've found my dream home, where one day you'll find me relaxing in my roof garden, sipping a home-made teh tarik and watching the world go by from my 12th-floor perch.

By then, I hope I won't even remember how much of a hole I'd burnt in my pocket

Read more? Is Home For You to Retire Or to fund your Retirement?

1 comment:

  1. We could lose $100k in many other ways. Might as well throw it at something we really like. I support this guy. :)


Related Posts with Thumbnails