AskGuru Q&A Community

Hi Sir,

Based on your situation, if you were to proceed to purchase a brand new EC with your family, you will be liable to pay half of the resale levy, i.e 4RM flat @ $20k.

If you do not wish to pay the resale levy, you can opt to purchase a resale EC, or a private residential unit, which really isn't a bad thing.

Do you know that a loan for new EC is based on 30% MSR, while a private residential loan is based on 60% TDSR?

I'm not sure if you have worked out the sums and explored all your options going forward. But I would love to assist you in exploring your options, and providing you with the most appropriate plan for you and your family.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hey there,

Congratulations to your Completion of MOP (Minimum Occupational Period. You are eligible to sell your 4rm HDB Flat and upgrade to an EC (Executive Condominium). You will be classified as 1st timer as this is the 1st time for your wife
However there are some important notes to take:
1. As you have taken a Grant previously, you will have to pay resale Levy of $20K (Half of the the full $40k resale levy). This has to be paid in cash.
2. You will to sell your 4rm hdb flat when your EC is ready for occupy.
3. You are not required to pay ABSD as this is considered as your matrimonial home.
4. Combined Income cap is $14k
5. Only Bank Loan (No HDB Loan)
6. Downpayment 20%: 5% Cash, remaining 15% can be cash or CPF
7. You are also eligible for Half- Housing Grant (up to $15k: as your wife is 1st timer)
8. Your loan is subjected to MSR (Mortgage Servicing Ratio of 30%)
9. And Also TDSR (Total Debt Servicing Ratio of 60%)

It seem that you are also considering Private Condo as an option. In fact, it might be a good alternative as the factors to consider is a bit different, which can work towards your advantage. You should have clear understanding before committing to any decision.

There are many factors to consider in purchasing your Ideal EC. Do give me a call to discuss further. Through my asset planning & implementation effective strategies, I’m sure you are able to buy your ideal property.

Hope the above address to your concern, but if there are more queries, please feel free to call/WhatsApp me at 9366 1846  , or email: shawnkhooch@gmail.com if more information is needed.
I’m obliged to assist your needs.

Warm Regards,
Shawn Khoo
PNG Propnex
BA Design (Hons), DIP Architecture

Email: shawnkhooch@gmail.com
Contact: (+65) 9366 1846 
Whatapps: (+65) 9366 1846 
Facebook Page: www.facebook.com/shawnkhoo
Website: http://www.shawnkhoo.com
(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- HDB Sengkang 4rm Landlord Ms Lim--

We approach Shawn to rent out our unit because he is always present in my area, through flyers and road show. He secured our tenant with my expected rental within 2 weeks of marketing and handle all the necessary arrangements. It was a hassle-free experiment for us. Currently, we are getting him to renew our tenancy with the existing tenant.

--- First Time Executive Condo Buyer Mr. & Mrs. Soo ---

We are referred to Shawn by our friend who bought a resale HDB through his services.

At that time, we are pondering whether to buy a resale or BTO. Shawn professionally explained the pros/cons on all possible options. We finally decided to buy a EC after he gone through the financial calculations with us.

We have since moved into our EC and very happy with our new home. Good Job, Shawn

-- HDB 3-rm Sellers Mr. & Mrs. Ang --

We have engaged the services of Shawn Khoo for sale of our flat at Whampoa. We previously faced issues selling our unit. Shawn clearly explained how he is going to market our unit.

Shawn is hardworking and committed to his work. He run Open-House for our unit every week and update us on the status regularly.

We managed to sell our unit within a short period of time. Thanks, Shawn Read More

Hi,

As you have taken grant for the hdb, you be considered to have taken 1 subsidy and hence will be liable for resale levy when you buy the new EC. However this amount is half and at 20k since your spouse and daughter have not taken any subsidies. Do note resale levy can only be paid in cash or sale proceeds, and you have to sell away your hdb once you collect the keys to EC.

I have gone through similar cases and will be glad to share the detailed financial and timeline breakdown. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --

Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.

Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.

Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

--- HDB Flat Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

-- HDB 5-rm Sellers Mr. & Mrs. Ting --

We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.

He is hardworking and committed to his work. He puts in great efforts in arranging clients for viewings and kept us updated thereafter. He is ever ready to help and guide us whenever the need arises.

He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.

Thanks, Ivan. Keep up the good work! Read More

Hi Yes you can purchase EC or resale units and will incur resale levy as you have received grants for your 1st HDB purchase. Do contact me at 97970200  to discuss more

Mark, your RIGHT choice
MCG Read More