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Hi there I would like to know if anyone is familiar with HDB upgrade to executive condominium cases.

Me and my dad has a combined income of $6000. And we have a fully paid for 4 room sengkang flat that was bought at 360k few years.

Would it be feasible and achievable to upgrade to a EC of 750k? taking it to account we may not have too much of savings in cpf.
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7 Answers

Good afternoon,

I have worked with similar cases. It depends on the loan attainable, which mainly is dependent on the age profile of the buyers and any major loan installments outstanding. Happy to do a simple projection and ascertain the feasibility.

As for downpayment, if its not a negative sale, I believe the sale proceeds returning can cover a significant portion of the downpayment. Do note a resale levy may apply if you are purchasing a new EC.

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
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Hi
In order to answer your question, I would need further information in regards to your financial situation. For ECs upgrader, a 5% cash deposit(around $32,500) is required. Resale levy of $55k in cash is required if your current 4 room flat is a BTO or purchased direct from HDB. After taking into account the resale levy component, some upgraders might think getting an EC is not that worth it after all as fully private developments will not have such requirement. Do contact me at 93375051  for free and non obligatory consultation on this. If given a chance, I would do my best in calculating your personal finances and present to you my findings and research on the EC you wish to buy in order for you to make an informed decision on it. Thks.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd
 93375051  Read More
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Dear Sir/Mdm,

It is important to find out whether you can afford the EC comfortably before you proceed to upgrade. In your case, it will be good to do up a financial plan so that you can understand how much cash and cpf you are able to get back from your current HDB flat, and together with the loan you can secure and the CPF in your OA and the savings in cash, you will be able to know whether it is financially feasible to upgrade to an EC as well as the monthly commitment after the upgrade.

I have assisted quite a few of my clients who are in a similar situation as yourself to upgrade successfully. Please feel free to contact me so that I can run thru the numbers with you and assist you further!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
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Hi, welcome you for a sharing over a meal or coffee on me. Kindly call or Whatsapp me at 96964398  for faster reply !!
Stewart Lim (PropNex) Read More
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Hi;

Firstly, sorry to inform you that there are no Executive Condos that are price at $750k at the current market.. Lowest is ard $8xxK .. As applying for an EC is abit different from purchasing a private condo, I would suggest you speak to an agent for in-depth financial calculation and planning so you can have a smooth transition from your current home to your next home. I am currently marketing 3 ECs and are very well verse with the EC rules and regulations. Do give me a buzz for further discussion. Thanks

Regards;
Lyna Song
 9623 8422 
Associate Group Director
Propnex Realty Pte Ltd
lynasong@hotmail.com Read More
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OHMYHOME PTE LTD
Greetings from Ohmyhome!.

We are able to assist you on this matter.

For more information, kindly contact us at 68869009  or WhatsApp us at 97551009  .

Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More
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