Nov 10 2021, 05:54 AM
QUOTE(BboyDora @ Nov 10 2021, 02:14 AM)
Hi, wanna ask opinions from all sifu here with experience.
Let say i bought a subsale , and after all the money i spent, i had no money to do renovation. As i planned to do major renovation plus all new furniture ( cost a bomb)
by calculations, if i didnt die (touch wood) or permanent disable ( touch wood) , i can have enough fund in 1 year time.
Question
1. Should i rent out for one year agreement.?
my worry : Will people rent if they know im going to take back the property in one year time ? (terrace house btw) The house is not for investment purposes.
2. Should I just leave it and go there to clean every single day.?
Reason: rent out might face tenant problems. not paying. or request me build this and that (cost money too)
The reason i wanted to buy now because landed property will keep going up no matter how bad the economy is. and the location suitable for my kids education and convenient. i can buy cheaper but far far away.. Plus a highway nearby is going to complete in 2 years time.
Yes. I know some people might say "no money then dont buy la"" .
I m a property noob here.
Any suggestions or insight that can share?
There are always risks associated to be a landlord. You cant expect just to collect rental without providing some basic things for the tenant or repairs if is landlord responsibility. However default rental is another thing to deal with.Let say i bought a subsale , and after all the money i spent, i had no money to do renovation. As i planned to do major renovation plus all new furniture ( cost a bomb)
by calculations, if i didnt die (touch wood) or permanent disable ( touch wood) , i can have enough fund in 1 year time.
Question
1. Should i rent out for one year agreement.?
my worry : Will people rent if they know im going to take back the property in one year time ? (terrace house btw) The house is not for investment purposes.
2. Should I just leave it and go there to clean every single day.?
Reason: rent out might face tenant problems. not paying. or request me build this and that (cost money too)
The reason i wanted to buy now because landed property will keep going up no matter how bad the economy is. and the location suitable for my kids education and convenient. i can buy cheaper but far far away.. Plus a highway nearby is going to complete in 2 years time.
Yes. I know some people might say "no money then dont buy la"" .
I m a property noob here.
Any suggestions or insight that can share?
Generally, many tenants prefer long term agreement. However, some may start with 1 year as they are not sure of the place. After that, they may extend or shift. If landlord wants back the house, then give proper notice to tenant for them to shift.
Alternatively, you can apply for personal loan to do your reno if you dont mind paying interest.
Lastly, you can just leave it vacant.
So there is no right or wrong way. Is your house, you decide and not answerable to others.
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