AskGuru Q&A Community

Good afternoon YL,

If you have limited finances to fund the 20% downpayment and stamp duties, you might have to dispose off your current 5RM flat first before moving on to your purchase.

You can utilize the usage of bridging loan (with your sale OTP) to finance your purchase first while waiting for the refund of CPF OA funds and sales proceeds from your sale.

Probably you can share more of your situation so I can further advise you.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Hi,

From the info you have shared, it appears likely you have to consider a 1BR condo for stay, and likely rent out the HDB 5-room for rental income.

Since its for stay, are there only certain areas you prefer? Will be keen to share with you the value buys in the area. Do note if you are taking up EC, you have to sell your HDB when you collect keys to EC.

The ideal thing is to map out the finances, and by extension the price ceiling you will not want to exceed, so we can recommend suitable ones for your needs. This will save you a lot of hassle and time. Thanks and hope to understand your requirements before value-adding further.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com Read More

Good day to you Mr YL,

If you are eligible for an EC, you may want to consider going for it. This is because not many interested buyers are eligible to purchase ECs.

ECs will also be privatised after 10 years. Hence there will be potential for capital appreciation.

May I understand which EC are you looking at? There are some ECs with no resale levy applicable. Maybe I can suggest these to you based on your requirements?

Kindly feel free to contact me.

Best Regards,

Tan Han Wei Leonard
ERA Realty Network Pte Ltd
BSc Management (UOL)
www.leonardtan-property.com
 9150 1162  Read More

Hi YL,

There are plenty of options available to you right now, since your 5RM flat has fully been paid off.

I am excited to share with you the possibilities you can explore! And I would like to arrange a meet-up with you to explore these options.

Of course, no obligations involved, just pure sharing on the many options you can have, be it upgrading to and EC, or buying another private and renting out your HDB.

I may even be able to save you a massive amount of money on the Additional Buyer Stamp Duty (ABSD), that is if your option is to buy a second private property.

I have helped several clients to save on this ABSD, and they all are thankful that I managed to save them this lump sum for them. This money could better be used for their new condo's renovation and furniture.

I can be contacted at 97486305  . I await your call.

Best regards,
Robbie Chen
PropNex Realty Read More

Hi YL, do you like to explore a plan where you can receive passive income while growing your wealth through property? Let me share with you how to structure your money to work hard and possible to generate 6 digits income in 5 years.

I am reachable at my mobile or email.

CK Ang
 90463808 
res.ckang@gmail.com
PropNex Realty Read More