10 Answers

Dear Sir/Mdm,

Contra is just one way to sell and buy the flat. However, contra is subjected to certain conditions being fulfilled such as your current loan must be a HDB loan and the next flat must also be a HDB loan or be fully paid. In the current low interests environment when bank loan interests is almost twice as low as HDB interest rates of 2.6%, HDB loan may not be the best option.

There are no rules when it comes to transiting from one HDB to another resale HDB. As you have applied for the CPF housing grant before, the only grant that is still eligible for you is the Proximity Housing Grant if your parents are staying within 4 km from Dawson.

As to whether you are able to afford a unit at Dawson comfortably, from the preliminary information that you have provided, it seems to be feasible. However, it is better to draw up a detailed financial plan involving the CPF funds that you have and the loan amount you are eligible for before proceeding with the move.

The other important issue to take note is also the transition timeline and your cashflow. With a proper timeline, you will be able to transit smoothly without the need for interim housing and you will be able to minimise the cash outlay.

I have assisted many of my clients who are in the same situation as yourself. Please feel free to contact me so that I can obtain more information from you privately and assist you to draw up a transition plan before you proceed.

Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

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“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
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I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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Mr & Mrs Wong (Property Read More
Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. By the way, could I have more info of your HDB unit so that I can find out about the unit value on your behalf alright? And yes, most agents are well versed will HDB contra case.

Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
In order to assist, I will need more detailed information in regards to your financial circumstances. As for conta transactions, it is one solution of having a smooth transition to your new flat. However do note that you have to meet some requirements to be eligible for enchance contra facility and some of these requirements might lead to a lesser pool of buyers eligible to purchase your curent flat. In case you did not meet the requirement for enchanced contra facility, it is still possible for us to time your transactions in a way that is possible for you to move to your new house without having to put up with an interim place of stay. As for HDB grant, it is only a one off grant and you are not eligible to apply for it if you have enjoyed one in the past. However if your parents stay within 4 km within your new flat and you have not enjoyed parent proximity grant in the past, you are eligible for this grant. Do contact me at 93375051  for a free and non obligatory discussions on this.
Taufik Hussein
ERA Realty Network Pte Ltd Read More
Hi there,

Thank you for your query.
It will be slightly difficult to comprehensively go over your queries online were as you require a customised plan for your intentions.
This requires a detailed timeline charting and financial planning to ensure a smooth transition, coupled with marketing and pricing strategies- and go over the feasibility of contra.

I have on hands a comprehensive data app which is able to demonstrate the overall market price trends. With inputs from your end, I will be able to churn out succinct price performance of your unit and the proposed unit of purchase as well as comparison of capital appreciation scope with detailed calculations(and timeline) . Furthermore, we could analyse all these comprehensive and detailed analysis.

From selecting properties to legal , financial , admin matter - I will explain the options . If you are keen , please do not hesitate to contact me to discuss further. Furthermore, I will take the opportunity to chart out the sales report & projected returns, offering market insights for your consideration. In my career spanning 20 years , I have taken at helm many types of complex transactions and hope to value add my experience and insights to your real estate plans. Thank you.

Visit my website for my recent accolades, awards and testimonials@ www.kumarrai.com.

D Kumar
 +65 96659926 
ERA Associate Division Director

#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7/8/9

ERA 2015 Q1 Top Achievers (Top1%)
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Overall Top 100 achievers 2014-2019 Read More

Thank you for your enquiry. There is no such rule, you can change from 4 room to 4 room without any issue, its up the home owner as long as the MOP of 5 years are met and the finances are comfortable.

If you have taken hdb loan only once, yes you are eligible for hdb loan again. However hdb interest rates at 2.6% currently is almost double that of bank loan interest rate, which means the monthly repayment is almost 20% - 30% more.

You are also required to fully utilize the CPF OA when you use hdb loan again, except for a 20k grant which u can keep.

I have worked on similar cases and would be in a position to share the best approach which meets your financial and timeline requirements.

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 Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

ERA Top 15th Achiever in April 2019 (Top 1% Company Level)
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-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.

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Hi Sir/Madam

I will be glad to assist

I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

PropNex Realty Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

With regards to your questions, there are several possible solutions.

1. Sell your existing 4rm to purchase another 4rm flat

You are free to buy any HDB flat type after you have sold your existing place. The only thing for you to consider is that if it is your best interest to plan it that way.

2. For your sales proceeds, you will also require your HDB refund with accrued interest.

3. We are only entitled one-time use of HDB grants in our lifetime. You cannot apply for another grant.

I hope the above is useful to you. Alternatively, if you want to find out what is your best optimum solution, you may touch base with me for a non-obligatory discussion.

Best Regards,
Justin Kong (CEA RegNo: R012735G)
Associate Group Director, OrangeTee & Tie Pte Ltd
Mobile: +65 8113 5511 
Email: contactme@justinkongyt.com
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Founder of Aspiring Property Investors. Read more about property market insights at https://aspiringpropertyinvestors.com

Providing Quality Real Estate Services Since 2003 Read More
Hi there,

It seems like you have alot of questions. if you're keen and serious, i can sit down with you for 1 hour to calculate your finances and clear all the doubts you may have.

 9768 2449  Read More
Robbie Chen Chee Howe

To determine your affordability, I will need to know your age and income, so that I can work out your maximum loan for your next purchase after selling your current flat.

I am experienced and well-versed in both private and HDB resale transactions. My area of focus is in Central/Queenstown/Bukit Merah/West region, and I am blessed to have transacted several record-breaking "million-dollar" HDB flats over the past 1-2 years, with many others in the $900k+ range.

I am very familiar with your current place at Cantonment Close, as well as Skyville/Skyterrace @ Dawson. I will be able to assist you in your housing plans. Please get in touch with me for a more in-depth discussion.

Should you need require 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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More