5 Must-Know Tips If You Are Past 40 And Buying A Property
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- เผยแพร่เมื่อ 29 มิ.ย. 2024
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Perhaps you’re starting your homeownership journey late; or you’ve reached that stage in life where you’re ready to upgrade (or maybe even downgrade). Whatever the case, buying homes when you’re older takes a whole different approach. You’ll find that, compared to younger home buyers, you face tighter restrictions, and need different amenities. The following will help you make the right decisions:
1. Understand the relationship between loan tenures, and Loan To Value (LTV) ratios
2. Ask if your property really needs to be freehold at this point
3. Consider ageing-in-place, and how you may change your mind later
4. Be wary of multi-storey properties with stairs
5. Be conservative when estimating the space you need
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Chapters
0:00 - Intro
1:11 - Understand the relationship between loan tenures, and Loan To Value (LTV) ratios
3:28 - Ask if your property really needs to be freehold at this point
5:30 - Consider ageing-in-place, and how you may change your mind later
6:55 - Be wary of multi-storey properties with stairs
7:53 - Be conservative when estimating the space you need
10:17 - Outro
Credit to Fuse Concept for the featured image.
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Bought a property past your 40s? What are some tips you'd like to share with us?
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My advice would be not to over-leverage or over-commit financially on the property; to have enough money set aside for retirement or any uncertainty (e.g. illness, retrenchment, etc).
Thank you for sharing your insights, Kevin!
Thank you for sharing. I agree with the home with stairs part. My parents and neighbours in their 70s are complaining how it is pain to climb up and down.
Thanks for sharing your thoughts! Accessibility is so important as we age. 😊
You were spot on about stairs and people tend to leave it far too late to downsize. There is neither energy nor will to do it when the time arrives.
Right, it's important to have a space suitable for the elderly. ☺️
Very good and practical advice, put across clearly. When we got our private apartment in our mid-40s, one bathroom was renovated to be commode accessible: wider doorway, flat flooring and lower sink.
I like the way the points are presented - realistic and pragmatic. Some folks don't consider the points you raised until they reached that age where they are faced with having to make a decision. Excellent video!
Thanks Edmund!
Thanks for this video! Its the first video I’ve seen that address this specific group of buyers and the tips and considerations are super practical and down-to-earth. 👍🏻👍🏻
We're glad it was helpful! Thanks for watching CK 😄
Thank u for always giving good and well measured advices
Thank you! We hope you find it informative 😁
Thank you for sharing!
Our pleasure!
very good points that you brought up !
Thank you, Kevin 😄
i enjoy watching it thank you. very valuable and thoughtful opinions from the perspectives of a mid-aged man.
Thanks for your kind words! Glad it was helpful 🙌
Like your frank and useful discussion. On FH/99, for apartments, the building cannot last. Hence both will go for en-bloc, and the difference is whether the appreciation exceeds the initial 15% difference at the start, and (as you pointed out) the opportunity cost. Also, many FH units tend not to be near MRT stations. Great job!
Thank you very much for sharing your thoughts! 😁
Excellent sharing, practical tips and great reminder not to overestimate oneself. Thanks :)
Glad it was helpful!
Like the way Ryan speaks... very logical and sensible. Pleasant sounding.
Thank you for your kind words! 😄
Very wise, realistic advice. 100% agree. Am in my early 70s. Very content in my current home. Could live here quite comfortably and happily till the end. Thankful i took into consideration 10 years ago, the same factors mentioned in video. 👍
Thanks for sharing!
Thanks for sharing.
very sensible and practical tips!
Glad it was helpful!
Excellent points, thank you,
Thanks, Jerry!! 😊
Nice, sensible things to look out for 👍
Thanks for watching!
Thanks for the advices.
Glad to be of help 🤗
good & sensible advice! 👍
Glad you think so!
hello ryan! can you create a video guide for people who wants to learn more about real estate such as the terminologies etc etc ? i discovered your channel and im elated to see your videos helping people who are interested in real estate! keep it up!
Great suggestion! Will take note of this!
a lot of sensible comments that are so relevant.
Thanks !
Hi sorry in advance if you have covered this, but can you talk more about singles buying a resale flat. Things to consider like planning to get married in the future and also do singles lose the 1st timer status when they purchase a resale flat? Current market should buy or not, or just wait since not urgent.
yes!
@@hilmir which link is that?
@@unclebengmookataloklok5284???
Hi Joshua, so long if you have not purchase a flat from HDB or took grant to buy a resale flat. You will be considered a first timer when buying HDB flat.
Ang lupet ng channel nyo. Ang dami ko natutunan.
Thank you. We hope you find it informative 😁
I’m really curious if the top Ryan is wearing is the same top from his last 10 videos?
Or maybe they shoot all their last 10 videos in one day 🤷🏾♂️
You watch these videos to check out his wardrobe ah?
@@aissws 😂😂😂
Being thrifty goes a long way to owning more property =)
If yes, what is your problem. Do you only wear your clothes once?
i think landed house with stairs without lift is still ok. Can install stair lifts. there are many different types available. Im sure something will fit. Since it's mainly the elderly that are not mobile, installing stair lift from just first floor to second floor is ok. Many landed houses in UK, US, Australia do not come with lifts and many old folks just install stair lifts.
Thanks for pointing that out! Seems to be a much cheaper option. But this would depend on the layout of the home as well!
@@StackedHomes Stairs lift is more straightforward. It’s easy to install on any stairs. Not like an elevator in the house.
Housekeeping is a pain for a bigger house.
Thanks for sharing!
I wonder where’s Reuben? I miss their duo videos and his home tour videos - and his documentary voice!
Thanks! Reuben came back with our latest Insider Tour video!
Thank you
You're welcome, Michelle! We hope you find it informative 😉
@@StackedHomes , thank you. I have always enjoyed your you tubes. Very information and genuine.
of course they would tell you that.. else how are they going to sell new launches which are practically almost all leasehold?
We can understand the cynicism but there are also leasehold resale too, it's not discriminatory 👌
Both my husband and I r past 45; there is NO WAY we will live in a house with stairs. During the Covid lockdown, we bought a single-storey house in California with the intention of retiring there; however our plans subsequently changed n we sold the house when California home prices went thru the roof. Becos it was a single storey home, we were able to get top dollar for it.
Single storey homes in the US command a premium price simply becos people recognise their accessibility to wheelchair users and older, less mobile residents.
Thanks for sharing your thoughts on this!
Hi, like to seek your advice. Me and my boyfriend are in our fifties. He co-owns a 52 years old HDB 3 room flat with his mum. I am staying with him now as I do not own any property. I am thinking of getting a Flexi 2 room HDB flat, would you advise me to get a new flat or continue in this flat and eventually just ROM and add my name to the current flat. Which is a better retirement plan? Thank you.
Just continue in his flat for free and let the money in your cpf compound.
Thanks for the advice. 😊🙏
Maybe 2room 99years BTO? You can rent out after 5years? Could be good rental retirement income and you can stay with your bf. And if any case you guys unfortunately split, you also have a home to go back to.
@@yxinz how about I apply 2 room flexi short lease, we can both stay there after my BF' mum pass on. His 3 room Flat can rent out and we split the rental... 😅
No need to ROM. You apply 2 room flexi on your own and rent out. Continue to stay with bf. Once ROM, you cannot keep both HDB or you keep but cannot rent out.
i thought it Dan Loc sound like it hihihi
May I know if lease buy back includes EA /EM units too?
According to HDB, it applies to all flat types excluding short-lease flats, HUDC, and Executive Condominium units
Can you kindly update the map of all EA price range in Singapore? U had done one before in a write up on 6 March 2021. I can’t attach the map here. Thanks so much 🙏
We'll look into that!
@@StackedHomes thank you very much 🙏
If 48 years old want upgrade to condo must be rich la. If no rich at tat age still wanna upgrade then is just stupid lo
😂
Make sure your landed has a granny room, as you will likely be the granny 👵🏻 in time to come inhabiting that room 😜
😂
You are very optimistic about children in 30s having their own homes 😂
‘maisonette’ is pronounced MAY-suh-net, not MAI-son-net.
Thanks for the feedback!
「動画の音が良くない」、
This guy really trying to make people feel bad buying home after 40. Whyyy!? 🤦🏻♂️😂
I bought my first property at 47. It's actually better because I have a ton of cash from investments and savings and my kids are mostly grown up. No stress at all paying the mortgage
@@robocop581 That's inspiring 😄buddy! 👍🏼
I m at that same situation so may i know with that tenure of less than 20yrs, what is yr monthly mortgage based on and what is the cost of yr property?
Why is this unusual? Typically most professionals who are not bankers would have their greatest earning power in their 40s. Yet most advice given to Singaporeans is based on a 35-year mortgage. Poor Singaporeans. Stressing about schools since the day they’re born. Stressing about housing from the time they can work. Please reevaluate your lives, Singaporeans.
Why to u even want a LOAN after 55!! Time to relax man, how much space a person need?
Depends! Everyone has their needs! But we do think that one should take things slower after 55 too, but to each their own!
I hate it when he start talking about million dollar properties. As if majority of Singaporeans are millionaires. I get put off and stop watching
Huh? He's just being realistic....most private properties n many good HDB flats in Spore already cost way more than a million dollars. Maybe you aren't his target audience
Thank you for sharing!
It's our pleasure 😊