Asked by Mr. steven chan
Hi, presently I own a resale EA and use up my 2 time housing grants, and wanting to downgrade to a smaller unit. I am 70 years old and looking at the SHB scheme. Pls advise. Thanks.
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3 Answers
Hi Mr. Steven,
For the SHB scheme, for the downgrade to the next property you need to purchase a 3rm unit type or below. Part of the sale proceeds will go to top up your Retirement Account, and 20k cash bonus will be issued. Whether the sums work out in your favour depends on the retirement plans you have in mind. Some will prefer to have more cash on hand, and some do not mind to increase their monthly payouts and slowly draw down the amounts.
Its highly possible the sale proceeds of the EA can cover the purchase price of the next unit, if you are looking at units in the same town.
I have worked with Pioneer Generation clients before and have done similar cases and will be in a similar position to assist. Will be glad to work out the full financial plan and timeline so you can have a better idea on what to expect.
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)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact: (+65) 97432395
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)
--- HDB Flat Sellers Uncle "Seng" and Mdm. Png ---
Translation from Mandarin:
We are from the Pioneer Generation, already in our 70s, and have no experience selling HDB flat. As our new BTO is arriving, we considered selling our flat earlier.
We felt he was a patient agent who is willing to hear out our plans and concerns, and explain new HDB selling procedures clearly to us. He is also a hardworking agent who did Roadshows for weeks to create awareness for our unit, and we quickly found a buyer through this avenue.
We also appreciate that he made the extra effort to accompany us down to the Banks and Town Council to help us with the outstanding paperwork procedures, and ensure the sale go through smoothly. Throughout the process, we always felt assured and happy, as Ivan was always professional, accessible and saw things through till conclusion. Ivan will remain as a family friend and we will be glad to invite him over for coffee when our BTO is ready.
--- HDB Flat Sellers Mr. Hayum and Ms. Azizah ---
Ivan has justified our faith in appointing him as our Exclusive Agent. He transacted our unit at 620k, above valuation & highest price ever achieved for our block, within 2 months.
In a slow market, you need a proactive & committed agent who puts the extra effort. Besides advertising in papers & online intensively, he also had personally distributed flyers & spoke to potential buyers in neighboring blocks to increase exposure. Every week there were viewings & feedback.
He actually secured 2 attractive offers but assessed that the 2nd one will be a more smooth transaction. We're glad to have proceeded with his advice for a successful completion. Throughout he was professional and responsive. We wish him a great career and will be happy to recommend his services. Read More
For the SHB scheme, for the downgrade to the next property you need to purchase a 3rm unit type or below. Part of the sale proceeds will go to top up your Retirement Account, and 20k cash bonus will be issued. Whether the sums work out in your favour depends on the retirement plans you have in mind. Some will prefer to have more cash on hand, and some do not mind to increase their monthly payouts and slowly draw down the amounts.
Its highly possible the sale proceeds of the EA can cover the purchase price of the next unit, if you are looking at units in the same town.
I have worked with Pioneer Generation clients before and have done similar cases and will be in a similar position to assist. Will be glad to work out the full financial plan and timeline so you can have a better idea on what to expect.
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)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact: (+65) 97432395
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)
--- HDB Flat Sellers Uncle "Seng" and Mdm. Png ---
Translation from Mandarin:
We are from the Pioneer Generation, already in our 70s, and have no experience selling HDB flat. As our new BTO is arriving, we considered selling our flat earlier.
We felt he was a patient agent who is willing to hear out our plans and concerns, and explain new HDB selling procedures clearly to us. He is also a hardworking agent who did Roadshows for weeks to create awareness for our unit, and we quickly found a buyer through this avenue.
We also appreciate that he made the extra effort to accompany us down to the Banks and Town Council to help us with the outstanding paperwork procedures, and ensure the sale go through smoothly. Throughout the process, we always felt assured and happy, as Ivan was always professional, accessible and saw things through till conclusion. Ivan will remain as a family friend and we will be glad to invite him over for coffee when our BTO is ready.
--- HDB Flat Sellers Mr. Hayum and Ms. Azizah ---
Ivan has justified our faith in appointing him as our Exclusive Agent. He transacted our unit at 620k, above valuation & highest price ever achieved for our block, within 2 months.
In a slow market, you need a proactive & committed agent who puts the extra effort. Besides advertising in papers & online intensively, he also had personally distributed flyers & spoke to potential buyers in neighboring blocks to increase exposure. Every week there were viewings & feedback.
He actually secured 2 attractive offers but assessed that the 2nd one will be a more smooth transaction. We're glad to have proceeded with his advice for a successful completion. Throughout he was professional and responsive. We wish him a great career and will be happy to recommend his services. Read More
Good day Mr Steven Chan ,
As per your question downgrade , studio hdb apartments for seniors are available from a low of 90k for those farther away outskirts , to 170k for those nearer to the city and mrt .
However they are very small in size and on lease to you ( full rental paid upfront ) . It works out to few hundred dollars rent per month , example rent multiply 12 months multiply 30years for a 30year rental paid upfront .
Kindly contact me for a no-obligations chat for your property needs .
My charges are 1% commission for exclusive ( sole agent ) selling rights to your hdb , or 2% for open listing ( many agents ) .
Joanne chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327 Read More
As per your question downgrade , studio hdb apartments for seniors are available from a low of 90k for those farther away outskirts , to 170k for those nearer to the city and mrt .
However they are very small in size and on lease to you ( full rental paid upfront ) . It works out to few hundred dollars rent per month , example rent multiply 12 months multiply 30years for a 30year rental paid upfront .
Kindly contact me for a no-obligations chat for your property needs .
My charges are 1% commission for exclusive ( sole agent ) selling rights to your hdb , or 2% for open listing ( many agents ) .
Joanne chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327 Read More
Good evening,
Many elderly opt to downgrade to free up cash component for their retirement. They also have lesser issues with cleaning and maintaining the unit. Many also utilize this opportunity to plan for better retirement routine.
Do feel free to contact me should you require additional assistance.
Regards
Mike Lim
96929209
m52i@yahoo.com
ERA Read More
Many elderly opt to downgrade to free up cash component for their retirement. They also have lesser issues with cleaning and maintaining the unit. Many also utilize this opportunity to plan for better retirement routine.
Do feel free to contact me should you require additional assistance.
Regards
Mike Lim
96929209
m52i@yahoo.com
ERA Read More