AskGuru Q&A Community

Hi,

You may wish to consider EC from developer sales, and you will also qualify for 30k grant as 1st-timers. May I understand your requirements better so as to value-add further to your plans? I will also be glad to do a full illustration of your financial planning for the unit, and make some property recommendations. Thanks and hope to assist further and discuss.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Good morning buyer,

I will strongly advise you to find out what is estimated budget first so you will have a better idea which unit/ project/ location best suit your affordability.

To derive your budget, you will have to speak to my banker so they can advise you on your in principle approval. With this, you will have a better idea what's the loan quantum you can obtain.

Secondly, the finances you have on hand. Even you have a substantial loan, but you dont have enough CPF OA funds or cash to pay for the 20% downpayment, stamp duties etc. You wont be able to complete the purchase.

So do take note of that.

Just for sharing. My first property purchase was an EC. Reason being, its usually priced around 10 to 20% lower than surrounding private condos so I see a potential of capital appreciation. But they are always built a distance away from MRT or non prime locations.

Why I didnt choose BTO/ resale HDB is that I feel government will have more control over the public housing thus capital appreciation might not be that much compared to EC unless you purchase BTO in prime locations. But they are usually more spacious compared to ECs/ condos. Point of entry is lower ($) than the rest.

Hope my explanation helps!

If you need further assistance or advice in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More

Dear Sir/Mdm,

In my humble opinion, It will be wiser to get a HDB for a 1st property for the several reasons:

1. Interest rates are set to increase starting from this month and it is not wise to over commit on a private property at this early stage of your life. Once the rates increase, it may cause additional financial burden with the increasing monthly repayment.

2. HDB prices has stabilised and it will be a good time to enter the market to purchase a unit in a matured estate. Living in a matured estate will allow you to enjoy the amenities and matured estates are always popular with buyers and you can be certain of the potential upside in the future. The spacious layout of HDB will enable you to enjoy a comfortable lifestyle.

3. After you purchased your first HDB, you may continue to invest in a private property after 5 years. Under the current rules and regulations, you will be allowed to purchase a private property while holding on to your HDB. However, if you are to own a private property, you will need to sell the private property within 6 months of buying a HDB. With a HDB and a private property, you may continue to live in one while renting the other out to enjoy passive income.

I have assisted a lot of my clients to own their first property. Do feel free to contact me for a chat!

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 for 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.”
Ms Chia (Buyer of HDB)

“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) Read More

Afternoon,

If either of you are SC, I would recommend getting a HDB unit first before getting your condo. You can target prime estate like East Coast, Queenstown, AMK or Bishan. After MOP, you can opt to rent out your HDB unit while you stay in your newly purchase private property.

Do contact me further should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi,
You are right, compute the purchase budget within you capability and the estimated loan should be the first part of the purchase.
I am glad to assist you to work on the first part.
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