AskGuru Q&A Community

Hi,

Do note that for private condos, a 5% cash component is required as a minimum. Typical breakdown for 1st residential private property for SC as follows:

Cash 5%
CPF 15%
Max Bank Loan 80%
Stamp duties & Legal Fees Approx 3%

Comparing the entry prices of both resale HDB and condo now, I would say condo has more room and potential for capital appreciation due to a larger buyer pool (PRs and foreigners). It also depends on your lifestyle requirements (do you see yourself using the facilities often etc.) and what's the comfortable monthly mortgage range you are willing to undertake for a mortgage loan. The good thing is your woodlands hdb flat rental income will be able to service part of the condo mortgage, which maybe worthwhile to explore. After all, we all want to give our parents and family a better life if we can afford it.

There are some value-buys available in the private market which I can introduce, should you wish to pursue. Thanks and hope to discuss further.

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

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(Client's Testimonials) Read More

Hi, it is always wise to be prudent and if your budget allows, instead of private condo, you may consider a resale EC too. First and foremost, I would suggest you speak to a banker first with regards to the loan and eligibility issue. Pls feel free to let me know if you need any banker's contact or any other assistance.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi,
Great to hear your Goals setting before heading to purchase. It will be good to work out the financial plan, have the estimated bank loan amount to have the max purchase. Please let me assist you to compute the estimated loan quantum.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Hi buyer,

It all boils down to your needs, and also loan and mortgage repayment threshold.

Feel free to give me a call for a more in-depth discussion at your convenience.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More

My friend, S$180000 in CPF OA at the age of 35, we belong to the middle income tier. And because we are Singaporeans, we get to have grants from Government when we buy HDB first. Please do not get a private property as your first property.

Get a resale HDB, make it fast, get the 1st timer+proximity grant of S$25000. And with your income which I assume S$4k (sorry if I over or under rate), you get to have additional grant of S$7.5k. See there? Government giving you SS$32500 and this is your money and stays in your CPF OA when you sell them 5 years later to buy a condo.

Then you invite your Mum to stay with you and rent out her HDB unit for maybe S$2.5k monthly. Then you slowly build up your savings, invest elsewhere and liquidate to fulfil your condo comes 5 years later.

My two cents... 加油！ Read More

Hi,

It will be financially stretching for you if you were to purchase a private condo. Moreover, the condo purchased will be a smaller unit and may compromise on the standards of living if both of you were to move from a bigger HDB to a smaller living place.

I would recommend that you purchase a resale HDB instead. Prices have soften over the past few quarters and now may be a good time to buy since it is a buyer's market. You and your mum can move into the new flat while renting out her flat in woodlands. In terms of rental yields, a hdb rental yield will be much higher as compared to a private property due to its lower quantum.

In terms of capital appreciation, you should be mindful to purchase areas which redevelopment potential and near major transport nodes. Please feel free to contact me at 9644 4854  so that I can understand your needs further and discuss with you further!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg
(W) www.nick-tan.com / www.propertyavenue.com.sg

Testimonial from Satisfied Clients (2015)

“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.

We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
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“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer of HDB)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

Mr and Mrs Chan (Sold and Bought through Nick) Read More

Hi,

Re: Our Preferred Experienced SG Professional

Simple, you just need housing loan capped confirmation by bankers now.

We can assist you based upon your stated contents and walk you through the entire process with options by our pool of experienced bankers.

Call us now, we can explore further in detail.

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