AskGuru Q&A Community

Hi,

Yes, this is feasible. $250k (20%) allowed you to purchase a $1.25M property. Provided you are eligible to loan the 80%.

Wonder what was your main concern over this?
The market trend of property, financial commitment, or capacity of getting sufficient loan?

Please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

Note:
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
The best way to get a follow up is to whatsapp or email us directly. Read More

Hi there,

Thank you!
This is a feasible option indeed.
Please take note of the cash outlay :Payment Outlay :
The purchase breakdown ASSUMING SC + 1st Property is as followed -
:5% CASH ;deposit and exercise
[1% deposit AND 4% upon exercise]
:15% CPF (or cash if insufficient)
:3% Buyer Stamp duty; BSD [Below $1m] ) OR
4% BSD [Above $1m]

:Legal fee = $ 2,000~$3,500 dependent on individual legal firm.

Maximum Loan : 80%, Cash Downpayment : 20%
Based on your projections, you could purchase a unit up to $1.25m, which implies your vary options. Are you looking for own stay or investment? Due to land scarcity, there will be reduced land parcels for sale and thus, lesser new launches available. There is a new Launch upcoming in Late March, Exquisite master peace development by CDL, with over 50 facilities and development attributes set to appreciate over the years! You could otherwise consider new launches due for TOP this year or in the coming year, to cash in out the lower prices compared to resale. Either ways, do let me know your objectives and requirements so that I can share the inventory of customised list of units and developments you can consider , for own stay and even enjoy high capital appreciation and yield projections at the same time!

Please do contact me at 96659926  for a short in depth discussion to value add your purchase and offer thorough insights to the property outlook! 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

ERA Q1 Top Achievers (Top1%)
ERA Top Achievers 2013-2017
ERA Multi-Million Dollar Club Award
2014-2017 ERA Asia-Pacific Business Conference Elite Award

P Group
Overall Top 100 achievers 2014-2017 Read More

Hi,

It is feasible, however, before you proceed with this option, I think you will need to first understand and manage the financing of the new condo.

As a SPR, do take note to set aside funds for ABSD as well.

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

It is advisable to look into your financial commitments after the remortgage is done, since it will be 2 housing loans which you will be undertaking. With the Fed expecting interest rates to high, this can have a significant impact on your finances.

Otherwise, it sounds like a pretty good option to leverage on your existing portfolio to branch out into another asset, subjected to loan eligibility. Take note that you will be subjected to Additional Buyer's Stamp Duty on your purchase on top of the normal stamp duty applicable, therefore do factor these considerations into your financial planning before committing to any purchases.

Last but not least, why are you looking only at new launches? If there are value for money resale properties available, would you be interested?

We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value.

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

Thank you for your support in 2016 for the Top Producers Award - https://bit.ly/No1Team

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

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

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
Consultant - Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

G.A Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! Read More

Hi Sir/Mdm,

It will depend on whether it make financially sense to adopt such an approach as you will be incurring interests cost on your property in Malaysia while also incurring interests cost on the purchase in Singapore.

May I know whether you intend to purchase the new launch for own stay or for investment? Please feel free to contact me so that I can understand your intentions and also examine your overall financial situation before providing you further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
https://www.cea.gov.sg/docs/default-source/module/newsletter/3-2017/bouquets-for-property-agents.html

Testimonial from Satisfied Clients (2016/2017)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited 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.”
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)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“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.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More