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Hi all

I am currently looking to buy a private condo.

I currently live in a HDB 5 room that is valued at 700K (bought at 315K) and I have lived there for 10 years in a good Central position.

My combined household is 13K- 14K. We are both Singaporean with 2 kids.

We have about 140K in CPF but we do not have enough cash savings for 5%

How should we approach the idea of owning a private condo for about 3 room? We are looking to buy one that is going to launch and going to private showroom soon
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7 Answers

Hi,

Do note for 2nd property, ABSD of 7% is payable and 2nd outstanding loan is only max 50%. Cpf usage will also be restricted. It sounds feasible but would need more info. 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)
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He has made a promise to find a good tenant for me in two years time when the condo completes, and I appreciate this commitment" Read More
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Evening,

Since you have mentioned about 5% cash down payment, I would deem that your current unit is either fully paid. As the down payment is required upon the signing of S&P, you might have to consider the option of selling your unit first and purchase something that have TOP.

Do feel free to contact me should you require additional assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi,
To avoid 7% of ABSD, suggest to sell the hdb. It will also resolve the cash issue.

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
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Robbie Chen Chee Howe
Hi,

First, I would like to congratulate you for making more than 100% gains in your property!

Before you jump into upgrading to a private condo, first you should work out your finances and financial obligations in the years to come.

Apart from the Cash savings, CPF funds and combined income level that you mentioned, you have neglected a very important criteria, which is your AGE.

Many buyers neglected this very important criteria when doing a purchase. Your age determines how much you can loan, which in turn affects your monthly mortgage.

Before you jump into a purchase, I would like to fix an appointment with you, to go through the financial aspect of things. From there, I can further assist and propose the available options that are open to you. You can then consider these options and go for the one that best suits your needs.

Please contact me at my mobile 9748 6305  . I am looking forward to assist you in your property upgrading journey.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Dear upgrader,

Given that you have constraints in the upfront cash required in the new purchase, your probable choice will be to look at selling your existing unit to free up the cash and rent a unit while you wait for your purchase to TOP. Alternatively, you can perhaps look at resale units or developer's balance unit that is due to TOP. I believe that you have already targeted a project which you are interested in therefore you probably need to act fast before choice units are snapped up.

Ride on the recent wave of high quantum transactions for HDB in premium location perhaps? You could perhaps benefit from this hype. Speak to my team who has track record in assisting HDB owners like yourself to upgrade with smooth transition.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Claim your free home report today at http://bit.ly/ClaimFreeReport.

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

My self introductory video on https://youtu.be/6UfrCOCB6Mg

Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
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Dear Sir/Mdm,

From the information you have provided, I have the following 2 suggestions:

1. Consider buying an Executive Condo which is completed or going to be completed. Buying an EC is a good investment as they are considered subsidized housing with a good chance of capital appreciation in the future. Prices are lower for EC, which makes the 5% outlay lesser as well.

2. If you have an interim place to stay for example your parent's place or you do not mind renting for a short period, you can consider the option of selling your HDB first to free up the cash so that there will be more options available for you.

Upgrading requires meticulous planning in terms of the timeline and your finances. It is utmost important to have everything planned out before you embark on this journey.

I have assisted many of my clients to upgrade from HDB to private properties. Please feel free to contact me so that I can understand your situation more and assist you further!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

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“Nick 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.”
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Ms Chia (Buyer)

“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)

“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 a property through Nick) Read More
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GAN ENG JOO ONASSIS
Dear Buyer,

Re: Today’s SG Professional Choice- SGAgent.com & SGRealtor.com

Will recommend to be prudent to hold on the buying plan upon you save sufficient fund to purchase 3 bedder with 7% ABSD applied.

Present best path always will be retaining your HDB for rental while owning a second property for HDB upgrader.

I am contactable at 92222389  or onassis@sgagent.com / sgrealtor.com
In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

Onassis Gan | R021244C | Today’s SG Professional l SGAgent.com & SGRealtor.com

EXPERIENCED. PROACTIVE. SINCERITY. FEEDBACK
ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

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I pledge myself to maintain honesty and uphold integrity, to pursue my profession and education so that I may provide my clients with outstanding services. Read More
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