Hi Mr Tan,
Thank you for your enquiry. Pardon me for asking this. How much did you spend on your renovation 2 years ago? This will very much affect the valuation of your unit. As you should be aware, the property age of your unit is almost reaching 30years, valuation of the surrounding properties maybe affected due to the age and lack of maintenance by owners, which may result in lower valuation for units in your area.
If you have spent a good sum of money into renovation and have maintained its condition well, your valuation should be able to hit the high range of $400k and achieving $550k maybe achievable.
Otherwise, I would say, let's be realistic. Should valuation is in the low range of $400k, it is unlikely that there will be buyers willing to fork out the amount of cash over valuation for HDB. Such buyers with huge cash on hand is likely to have bought a private property instead.
It will be great if we are able to meet up for further discussion.
Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile:
+65-81577565
Email: lim.geryl@yahoo.com.sg
ECG Property Pte Ltd - A Boutique Real Estate Company
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